Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1884-04-05
ALEXANDRIA, GAZETTE AND VIRGINIA. ADV ERIlSEk

if | had compared, and l say further, put
yonrself in the same place and in my opin-
ion YOU would act as / did. You take other
banks; they have to rely on their officers.
On the 18th of February the Board OF
Directors suspended Jas. Il. Reid, late
cashier, and at once took possession OF the
assets and effects belonging to this Com
pany. and on examining the bills and notes
according to his statement there were found
about SIS. 900 ia bills and notes short; but on
amending his statement the next day, ana
some notes found by him in the safe, the
amount was found to be right with the
exception of few hundred dollars.
The Board of Directors, then and there,
came to the conclusion to call a stockholm
ers meeting on his statement and recon-
mended to wind up the Bank and pay the
stockholders their money.
The Board of Directors instructed their
president 10 employ competent book keeper
TO examine the books. l at once got Mr.
O'Brien to look over the books and going
over the individual deposit book we found
we owe depositors about Sl5,00O
more than the cashier reported. lie
also reported about $4,000 over drafts,
which report was not correct by about 80.
900. Now you can see how your Board OF
Directors have been misled. In conclusion
will say to you that since this bank has
been organized the directors, or any OF US,
have not made one cent directly or lndl.
recty: on the other hand | have lost large
amounts Of money indirectly through this
bank, which can be verified by the books OF
this company. Respectfully
ISAAC EIcHBERG.
The following resolutions were, after dis
cussion, adopted:
Whereas the report submitted by the President
on behalf of the Board Of Directors, shows that
instead of there being surplus fund as reported
by the late cashier, the capital of the company
has been impaired therefore be it
Resolved, that the affairs Of the Company be
wound up as speedily as possible.
Resolved that the President and Board OF d.
rectors, together with nine other stockholders,
collect and convert the assets of the company
into cash.
Resolved, that the Presidentand Board of Direc-
tors are hereby authorized to employ a competent
book keeper to post the books Of the company,
and furnish balance sheet thercfrom, and also
to employ an attorney to advise them, and to take
such legal steps as they may deem requisite
Resolved that after all the creditors of the conf
pany are satisfied, and the expense incident to
winding up its affairs are paid, so soon as the
assets in cash are sufficient, dividend of twenty
per centum shall be declared and paid on stock;
and as soon as the assets in cash sufficient, a
second dividend of twenty per centum shall be
declared, and paid on stock, such dividends to be
receipted for and likewise credited on certificates
of stock. That, after the payment of the second
dividend aforesaid meeting of the stockholders
shall be called to receive report, and for further
action by them.
Under the second resolution the chair
man, W. II. May, appointed the following
stock holders Geo. L. Simpson, NJ. B. Har-
low, R. II. Havener, John Lannon, ]. H. D.
Smoot, Henry Strauss, Alexander Lyes,
Max Pretzlelder and Peter Wise.
The meeting then adjourned.