Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1885-02-10
PETERSBURG AND VICINITY.
The Piouters.and-Mec hanics-Bank Deed
Declared yaiid-Cutting ARRAY.

The Piouters.and- Mechanics-Bank Deed
Declared yaiid-Cutting ARRAY.
Correspondence of the Richmond Dispatch.
PETERSBURG, February Q, 1885.
At the session of the Hastings Court
to-day Judge +. NJ. Mann delivered his
opinion in the matter Of the suit of the
State and other judgment-creditors to
test the validity of the deed made on
the Goth of May last by the directors
of the Planters and Mechanics Bank,
which was so fully and so ably argued
before him some two weeks ago. The
assignment was made in accordance
with resolution adopted by the Board
Of Directors.
The Judge reviewed all the facts in
the case and all the authorities on lead
ing cases of the kind in the United
States, and he decided that, upon prin-
ciple and authority, the deed was good
and valid one; that the directors were
not interested in the bank in manner
to debar them from making the deed,
and that they did exactly what they
should have done--yiz.. make a proper
and right disposition Of the assets of
the bank for the benefit of its creditors.
The bill of the State was therefore dis
missed, and the demurrer to the bills
of other judgment-creditors was sus-
tanned. The Judge furthermore read a
decree directing the trustees of the
bank to forthwith distribute pro rata
among the creditors all the funds in
their hands derived from the assets of
the bank, and also to sell the bank
building, at the corner of Sycamore
street and Courthouse avenue. Mr..
Gillian, of Richmond, was the only one
of the States counsel present, but
counsel for other judgment-creditors
were in court. After consultation be-
tween them it was decided to ask the
Court for a suspending order for the
period of thirty days for the purpose
of allowing them to prepare petition
and make up the record for an appeal
to the Supreme Court of Virginia. This
the Court granted, with the request if
such arrangement could be made that
the appeal be placed on the preferred
docket of the Supreme Court for an
early hearing. 1t was intimated that
the case might be heard in the Supreme
Court within the next sixty days.
IL is learned from the trustees that
they have about 100000 in hand.
which will enable them to pay at once
dividend Of about 20 per cent. The
people here, where the great majority |
IF the creditors reside, have never felt
my uneasiness that Judge MAINS de-
'isfon would be other than that rem
Tered to-day, but they did not expect |
hat an appeal would be taken.
At a late hour on Saturday night
light occurred on Old street between
wo negroes named Sawney johnson
nd David Hunter, in which the former
lsed razor with serious results on the
after. Hunters face was gashed in |
rightfA manner, and his nose was cut
vide open from base to tip. The
Wounds are dangerous, but not thought
o be fatal. johnson is in Jail.
Bishop White win visit the Episco-
aIchurches in this city on the goth Of |
darch to administer the rite Of confir-
nation.
II. c. Osermore, Of Dinwiddie coun-
y, has recently lost by theft nearly
ne half Of harmful Of tobacco. This
norning he captured wagon-load Of
in this city. There were no arrests
iade, however.
This is tho third week of the Metho-
list union prayer-meetings here, and
no interest in them is still kept up.
arge crowds attend each nightly meet
g, and there have been number Of
diversions.
The Tobacco Association to-day dis
used the new bylaws prepared BY the
,mmittee 10 meet the changes required
: the new system Of inspection which
,ortly goes into effect. A resolution |