The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-03-08
CLOSED ITS DOORS.
The Henry County Bank of MartipsvllIe
Suspends operations for Ten Days.

me Henry County Bank of NYartinsyllIe
suspends operations for Ten Days.
MARrlNsvILLE. March 7.-(Special)-
The Henry county bank "a State bank)
closed its doors last night. Persons
who passed the bank early this morning
saw notice posted on the door which
reads: ITO enable the board OF direc.
tors OF tho bank to complete an exami-
neeioh ana ascertain the condition of
1ne oank' IL mas been resolved that bust
ness be suspended for ten days
The notice is signed by He. Lester
president OF the bank. Yesterdav
Cashier John A. Brown rendered his
resignation, which was accepted. and
John L. Penn made temporary cashier
opinion here is almost unanimous
that the assets of the bank mako it
solvent and that deposit )rs will not loso
anything. The temporary suspension
OF the bank is no surprise at Mar,ins.
vile, as for several weeks Confidence in
the safety of the institution has been
waning, and depositors have gradually
Withdrawn their money. Alta meetinv
OF the stockholders ten days ago it VAS
decided that in view of the unsatisfac
tory condition of the books an invcsti-
CATION by committee OF tho share
holders, aided by an exper 81 onld be at
once made.
This examination has been poinr on
ior several days. The committee ascer.
'aihed yesterday that careless methods
ana bookkeeping had so befogged tho
situation that mo time was thought
necessary, and that the ends sourbt
would be more quickly reached by n
temporary suspension. The committee
ana other persons sufficiently informed
are OF the opinion that there is no doubt
OF tho solvency of the bank At tho
expiration OF the ten days suspension
inc opinion is unanimousally expressed
that the bank will resume operations
with plenty OF means and with re-.
organization that will quickly restore
confidence.
1t is not believed by the directors that
the cashier has been at all crooked.
but that the hazy condition of the bank
books and affairs generally is due to his
emphasized habit of drink. lie is q
large shareholder and has been, SC all
times, regarded as man Of thorough
honesty and withal OF brightest capacity.
In sending in his resignation he made
no comment on the situation further
THAN to say that on account of impaired
hS"Apn Hc Coulu no longer give duo at
tentlon to his duty and asked tle board
to appoint his successor without delay.
lie is now said to be patient OF the
heoly Institute at Greensboro, N. C.
The fact OF declining confidence for
moro than week caused q steady but
not sensational run on the bank, and as
most depositors withdrew their deposits,
1t is improbable that any will lose much
If at all. The stockholders are gener-
ally men OF means and good standing.
Presid ant III. 1t stcr is the richest
man in this part of Virginia and has
declared thai the bank viii omen it's
doors just rs soon as ,he con mittee
completes its investigation aud arrives
at the true condition Of atfai,s. The
bank has capital of only SIS, 900 with
surplus of about as much more, but
there is hardly bank in tho country
which has done so extensive business
on so small capital. AT one time in
the last year its statement showed
deposits in excess of 500, 600.
The suspension has caused M run on
the only other bank in town; and its of.
Ulcers say they are prepared for any sort
of emergency.