Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1885-05-14
TOWN BY THE SEA.
TIE ARREsTED BANKERS.


u,w o. Cen. Atsa,- what IRE Hank En-
smsn., sa,s-A Peer onslsss Cor DEPOSIT
teis
lCosrespondence ofthe Richmond Dispatch.i
NORFOLK. May IL, 1855.
The arrest Of Messrs Whitehead and
Baine Brothers yesterday was not
surprise here, as the matter had been
freely discussed for some time past, ana
IL was something OF an open secret tnat
She arrests would be made Immediately
after the hearing Of the injunction suit.
The arrests were made on an aiidaVit
fled by Mr.. Keyser, bank examiner
who charged that the accused had, on
or about the 3lst Of March. and at divers
times prior thereto, unlawfnlly and will
fully distracted and misapplied funds
and moneys and credits Of the Exchange
Bank. the amount of which being un-
known. This action was taken by the
United States authorities, and nobody
in Norfolk has anything TO do with it.
Indeed the sympathies Of most peo-
nile seem to be with the unfortu-
nate gentlemen and their families,
though everybody acknowledges that
the arrests were unavoidable I'M
der the circumstances. Messrs. White
head and George NJ. Balm were too un-
we'll TO appear in court, and their re-
cognizance had TO be taken at home.
The District Attorney wanted the bail
fixed at ESQ, 900, but the Commissioner
fixed the amount at 10000. The
Bains had n long list Of names Of peo-
PIE who showed disposition TO
10 on their bond. under
stand from q gentleman who saw the
Bans this morning that the families OF
these gentlemen are Frustrated with
grief, and he says it made his heart
bleed to see them in their agony.
Mcssrs. j. G. and X. 7. X. Balm ex-
hibited no sort Of feeling yesterday IN
The courtroom, but bore themselves In
very digniied manner. =,
! had chat this morning with Mr.
b. U. Keyser, the bank examiner,
about the banks condition. lie says
the bank was hopelessly insolvcnt long
before the crash came. and that the
$500, 900 which they proposed to raise
when the first examination was made,
and which the officers claimed would
have saved the bank, would have
been but drop in the bucket.
Why, the Bains owed the bank
million Of dollars" said he,
"and what would $500, 900 have been,
to say nothing of some 100000 more
Of almost worthless discounts. 1t had
no bottom in it," lie thinks the bank
will eventually pay perhaps 5Oper cent.
10 its creditors, but it will take some
five years OF more to settle up. The
first dividend Of 10 per cent. will be
maid. he thinks, in about five months.
lie has every confidence in Mr.. Peters,
the receiver. As to the decision of the
United States Court yesterday, he thinks
it virtually victory for Mr.. Peters.
He was asked as to what he thought
of the prosecution of the officers OF the
bank, but was reticent on that sub
ject.
"Can you cite a parallel case?" !
asked.
"Yes; the Fish case in New York
was a case in point, though the actions
Of Fish were worse than those Of the
Exchange Bank officers"
The Virginia Baptist State Conven-
tion (colored) met in this city to-day.
The following standing committees were
appointed
On Permanent Organization: Revs.
J. Herndon and l.. II. Bailey, Mrs.
Mamie Anderson, r. II. Porter, n.
Spiller, A. Thurston, W. Brown, I. j.
Cleck, and II. johnson.
On Finance Reys. ID. King, II
Jameson, r. Wells, and S. w. Mad
den.
On Foreign Missions; Revs. Banks
dale, Cooke, Osborne, and Mitchell.
On Educational Finance: j. j
Worlds, ID. Morris, j. Harris, and Ii
Pannill.
On Bible and Publications: j. L. Far
rar, j b. Smith, and A. Truitt.
At | o'clock the Convention took
recess till p. M. ELLA.