Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1892-02-26
more About the Broken Banks.

The following accounts which we clip
fom several of our exchanges will give
our readers some additional light in re-
gard to the rotten banks which recently
made such disastrous smashups at War
renton, Gordonsyille, Waynesboro. and
New Market. The farther the investiga-
ton is pushed the more rascally the whole
matter appears, and more apparent it
becomes that the Law should reach the
guilty parties. 1t is impossible to believe
that such failures as these could have
happened in the regular course OF legiti
mate business. Let the whole rotten
affair be probed to the bottom and the
guilty parties brought to severe and
merited punishment. A few more such
failures as Rosenberger, Shirley q Co, and
Kagey & Miller, and no one will be will
ing to trust bis fellow man with a single
dollar.
Samuel P. Shirley was arrested
in New Market on Wednesday of last
week, ard in custody of the Sheriff of
Fauquier county was taken to Warrenton
where he was bailed in the sum OF $500
to await the arrest of A. r. Rosenberger,
II. II. Spindle and c. F. Myers, for whom
warrants have been issued. They are
charged with embezzling the money OF
certain iepositors in the WaIrenton bank
to the amount of $4,000.
PIEDMONT BANK, GoRDoNsvILLE. VA.
From the Wayn,s boro Times.
A committee of five appointed by the
citizens of Goldonsville examined the
books and into affairs of this bank so far
as in their power and the result IS con-
tanned in the following letter received
from one of them.
"GoRDoNsvILLE, VA, Feb. 5, '92.
81. T. Booz, Esq.-Dear Sir Replying
to yours of 9th inst, the Piedmont Bank
was found to be in very rotton condi-
ton. The liabilities were as follows: Due
depositors 100000 and other banks
Sc, 600. co. assets about 100000 includ-
ing notes of c. F. Myers, Cashier, which
notes are secured BY worthless stocks in
booming towns from Norfolk to Missouri.
Most of the best and largest notes have
been hypothecated, leaving for the de-
positors here about 100000 which may
be collected. Myers has overdrawn his
account $1l, 500 co. We do not think we
will realize more than % per cent. If that.
l am unable to give detailed statement
as would like but hope this will serve
your purpose. The real estate of The part
nership here and personal of Myers has
been assigned but will not begin to pay
out"
Warrenton True Under d: Mr.. c. r. Lake
called Monday to request us to correct
the statement that three notes of his
amounting to 1885 belonged to the assets
of Rosenberger, Spindle & Co. He ex
hibted the notes marked paid Sept. Goth,
Sept. 23d and Oct. 9th. 1890. This correc-
/ ZION IS uut MI. ldht h"N'
The correction Is however an ugly fact
for r. S. & Co. to confront and explain.
Warrenton T0giaian: Constable Withers
has been sent to bring Messrs. Spindle A.
R. Rosenberger and Shirley, the insolvent
bankers to this county, where they will
he indicted at this term of the court.
Public sentiment, it is said, is already so
Ipflamed against these men that if they
are tired by jury nothing on earth will
keep them out of the penitentiary.
The grand jury at Warrenton on Mon
day returned true bills against Messrs.
Rossenberger, Spindle & Shirley, de
faulting banker, indicted for embezzl3-
ment