The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1889-07-18
Startling Assignment.

Our city was startled Monday morning
last, by the announcement that >. "A.
Patterson, Jr., of Waynesboro, had made
an ASSIGNMENT. and had left his family
and home for parts unknown.
Mr.. Patterson is known as one OF the
leading business men of his section, a
man of wealth and influence, and a gen
tleman of high social standing. The
announcement of his assignment and
flight came like bolt of thunder from
clear sky. In every mouth was the ques-
tion-.'what's the matter; what does 1t
mean ?n And throughout the day the
question remained unanswered. NO one
has been able, so far to assign any cause
for so unexpected and remarkable pro
ceeding.
The deed of assignment was made
known Monday morning, and when read'
as it was. by many during the day.
the terms OF the deed only added to
the mystery. The deed was executed
and acknowledged Wednesday last, July
10Th. Bv its terms J. A. Patterson, Jr.,
ASSIGNS to A. G. Braxton, Esq, as trus-
tee
LIST. All his accounts of all kinds, SILL
COO
end. Notes, bonds, crop liens, &c.,
! $4,000.
3rd All moneys and checks, not actual
! lv on the person of j. A. Patterson, Jr,
| $780,
18th. 2O4 acres of mountain land pur-
chased of VIM. Tyree, Il miles from
Waynesboro, 1000.
9Th. All his interest in the Waynesboro
Mill property, 80 acres of land, small
mill. near r. r. bridge, water right, in
terest in elevator, $4,000.
q interest in the Waynesboro Mill
property stands in the name of Mrs.
given also interest in the elevator, as
necessary attachment to the miil.)
9th Baker Springs property, $4,000.
18th. Tract of land, 240 acres, on Back
Creek, adjoining Killian and others,
$4,000.
Sth Brunl place, 60 acres, $4,000.
9th. Lot near Waynesboro Junction,
$3.50
10th. All other lands.
18th. % shares, Northside Land and
Improvement Co., Richmond, Va, 3d.
/ 0O0
18th. 2 shares Waddelrs R. R. indica-
/ tor, $500.
18th. interest of store of Patterson
81 White. Waynesboro, 81 900.
18th All personal property at house
and elsewhere; value not given.
18TH 1-23d interest in Cotton and Iron
Manufacturing Co., Florence, Ala. Value
not given
10th. interest in Land Co., Florence,
Ala, Thought to be Central Land Coz,
/ 70 acres land; value, $1,000.
nth. interest in Block No. 100, Flor
ence, Ala, $1,000.
18th. is interest in another block,
$780,
10Th. Stock in the Landerdale Mfg
Co, Florence, Ala; value, $1,000.
goth Stock in r. r. Land and I'm
! $1,000
21st. $50 shares North Alabama Furni-
ture Co., Florence, Ala. Value, $3.50.
22nd Iii interest in 106 acres of land
/ in Florence, Ala, 81 400.
23rd. All other interests in Florence,
Ala.
To have and to hold for himself his
successor and assigns, forever in trust.
! To take hold, sell and convert into
money, to be applied as follows
1st Costs of this deed and all proceed
ings arising under the same, together
/ with per cent on 1st and 3rd classes
following and 10 per cent on End.
end. G. A. Bruce, 81 900
/ S. FL. Sell. 500
3rd. Jno j. Harper, note, 1000
W. w. Chew, 4" 1900
Geo. w. Baber, g 500
Jno. b. Taylor, g 300
4th Small debts, $1,000.
The trustee is to hold, sell or operate
the property herein named:
On article 18th, Richmond, Va, Land
/ Co., 5000 has been paid.
/ On article 18th, Waddells indicator,
/ $50 paid, and note given; subject to as
/ sessment.
! In 18th one-half interest in the store
of Patterson s. White is conveyed to the
wife, Mrs. Mamie E. Patterson, in fee
simple The partnership expires April
/ 1st, 1891.
Household and kitchen furniture is
given to Mrs. Patterson, except piano,
which is given to his two daughters,
Eta S. and Anna NJ. Patterson. The
sorrel horse s'Ben" and black colt "Dex-
ter" with saddle and bride, are given
to his son, j. Frank Patterson.
Commission to trustee on each sale up
to $4,000 12 per cent, over $4,000 and up
to $4,000, per cent, and over $4,000
q per cent. Zen per cent on all profits
arising from loans, dividends and stocks.
Twenty-fiv per cent. of profits from the
property, when operated, and an annual
salary of $3.50 per annum. All taxes, in
surance and other charges to be paid,
and the residue to be paid to the order
of j. A. Patterson. Jr, when so directed
by him,
The deed further says, -. A. Patterson,
jr., being so situated as to render it i'm
possible, or at least inconvenient for him
to give his attention to the business af-
fairs herein referred to, and expecting to
be absent from the State for some time,
puts all the property, &C., &C., in the
hands Of A. G Braxton, trustee, to operate
as if his own, having full confidence in said
trustee, and until the corpus Of the pro-
perty is requested to be returned to said
J. A. Patterson, jr. And until such re-
turn, there is to be an annual settlement
before the commissioner of accounts of
Augusta county. No losses are to be
charged to the trustee, except for fraud
or gross neglect"
Mr. Patterson was the Chairman of the
Democratic County Committee, and
prominent candidate for the State Sen
ate, from Augusta county. The great
disparity between the assets and liza
bilities as stated in the deed, has led
to all sorts of wild cOnjectures and sur
misses, as to the cause leading to such a
step.