Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1892-02-05
A Proposition Of Fifty Cents on the
Dollar.

We stated last week that Messrs. A. r
Rosenberger and s. P. Shirley, proprietols
of the two private banking houses tina
lately broke, had made ali offer of compru
mise. IS many of the losers by the tw,
banks are Augusta county people who viii
be interested in anything concerning then
money. we print the pro- osition which tn,
firm is asking depositors to sign, and whicL
many have ;lll eady signed:
We the undersigned creditors of A. R. Ro-
senberger and S. T. Shirley, lately doing bus
mess as partners at Waynesboro under th,
name Of l he Bank of Waynesboro, at Basil
City under the naMe OF the Iron Cross Banl
and AZ New Market under the name of Kosen
berger & Shirley, do hereby agree to and witt
the said ROsenberger q Shirley as follows,
tO-Wit:
months from and after Feb. 1st, 1892, fifty
cents OH the dollar OF the amounts respective
ly due us by the said RoSenberger 4 Shirley
and upon its payment within said five month
to forever release and discharge them and
each OF them from any and all Liabilities from
them or either of them to US and each Of us on
account OF any Indebtedness to us or either OF
us from The Bank of WayneSboro, the Iron
Cross Bank and the said Rosenberger &
Shirley.
M.-UpOu Gne payment u lilly per ConJum
Of the amounts due us respectively as afore-
said within the time aforesaid to release the
deed of trust executed by said ROSenberger d
Shirley to Vernon Il. Ford and g. W Bennick
Of date Dec 81. 1891, and recorded in the
Clerk offices of the County Courts of Au-
gusta and Shenandoah counties, Va, and to
direct the Saia Trustee to turn over and deliv
er to the said Rosenberger & Shirley OF the
one who carries out and fulflls thi, compro-
mise settlement, all of the uncollected and
Infc and
deed OF trust as we'll as any and all monies
that may be in the hands of said Trustees arts
ing in any way from their execution of said
deed of trust.
3d.-In the meantime and until the payment
to us OF fifty per centum OF our respective de-
mands against the said Rosenberger and Shir-
ley doing business as aforesaid the said deco
OF trust is to stand and remain unimpaired as
security Tor our respective debts, and the said
Trustees OF any other Trustee OF Trustees that
may be substituted in their stead shall con-
tinue to collect and hold until the expiration
OF the said five months the assets conveyed
and transferred in and by said deed OF
trust.
4th.-If the said Rosenberger & Shirley OF
either OF them shall for any reason fail OF re-
fuse within the time aforesaid to pay the said
fifty per centum of our respective debts against
them then this instrument shall terminate
and be at an end, and shall no longer be bind
ing upon us OF either OF any of us.
5th.-This instrument in SO tar as it relates
to Rosenberger q Shirley shall be operative
only in the event that it shall be signed by all
the creditors of said Rosenberger & Shirley
whether their debts are due from them under
that name or The Bank of Waynesboro, OF
the Iron Cross Bank. provided the said Rosen-
berger q Shirley shall have the right to pay
to any creditor who signs this paper fifty pei
centum of his or her debt against them, and
to demand and have receipt in full of each
and every debt so paid OF at their option an
assignment of the Whole amount OF any such
debt so paid TO such persons as they may name,
but without recourse to the assignor.