Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-12-15
JAMES B. PACE FAILS
He Makes a Persona Assignment for
Nearly a Milo D .arS.
ALL OF HIS PROPERTY CONVEYED.
Real Estate Here and Elsewhere, as
We'll as Stocks and Bonds.
PLANTERS BANK NOT AFFECTED.
its Claims Fully Satisa'd-Mr. MOn'a-
Cue Chosen President.
PLANTERS BANK NOT AFFECTED.
no INSTITUTION WILL SUFFER.
Such ~ He Was Largely Interested
In Are Entirely S0tvent-Cause of
The Embnrrnssmcnt-De of the
Decds-Action of Directors.

banker and capitalist, made an assign
ment yesterday. The deed. in which Mrs
Pace unites. conveys all Of his real and
personal pronoriy. including stocks and
bonds. TO JUDGE George l. Christian and
Mr. J. J. Montague. as trustees, for the
benefit OF his creditors.
The liabilities are placed at about 5000
OO0. The assets are not given. but are
thought nv those acquainted with Mr.
PAGES affairs 10 he annie 10 meet all Of
his obligations and leave very consider
able balance.
Mr. PAGES failure was n great surprise
20 the business community. and there
were In all quarters expressions OF the
deopest svn,rathv for him. The deed was
filed In the Clerks office Of the Chancerv
Court shortly before o'clock and the
news was FIST given to the public through
tho medium Of the Disnatch's bulletin
board around which a large crowd soon
conrregated.
Our first bulletin was quickly followed
by two others giving the welcome assu-
rance that neither the Planters National
Bank nor any Of the other financial insti-
tutiors over which Mr.. Pace presided. or
In which ne was interested. would be az
fec,ed In the slightest decree by his en-
bar-assment The assignment is purely
personal one brought about. II is be-
ueved by continued Sickness. which pre-
vanteJ Mr. Pace from giving his personal
attention 70 his large and varied out-of-
town interests at n critical time
Besides being president Of the Planters
National Bank. the Virginia Trust Com
panv. and the Columbian Building and
loan Association. MIR. Pace was largely
interested in NAM other industries here
as we'll as having important business
interests in the North, West, and South.
None Of the institutions with which he
was connected will be in any way i'm
paired by his misfortune. Mr.. Pace had
transferred to the bank some Of his most
valuable property I'm settlement of the
s253. 05.73 due TO that institution
Under the deed creditors are divided
into five classes The amount involved
in the first class is 8. 226. besides servants
hire. salary Of employees. etc. The claims
of creditors Of the second class aggregate
sesi.O0O: those Of the third class. SH.S9lA
The creditors Of the fourth class are
certain note-holdels The hfth-class
creditors are not enumerated in the deed,
but comprise I'm the main northern firms
banks and individuals, whose claims are
estimated to aggregate about 100000
Before the assignment deed was filed |
yesterday Mr. Pace sent in his resigna-
ton as president OF the bank, trust com
pany. and building and loan association.
All these institutions held meetings in the /.
Afternoon. Nj. J. II. Montague was
elected president Of the bank, Mr.. James
y. Boyd president Of the trust company I
and the Columbian declined TO accept the |
resignation
The Clearing House Association met in |
the afternoon. and rosoived 10 stand by |
the Planters Bank. If any assistance is |
needed.
The Provisions Of the Deed,
The deed of assignment is the largest |
in importance ever fled IN ne o.ce
Of the Clerk OF the Chancery Court. The |
paper. which was prepared by Mr.. Frank
W. Christian. OF the irm Of Christian q
Chris an, and is very long, names Judge |
George l.. Christian and Mr.. j. j. Mon
tague as trustees.
Mir. Pace Joins in the deed, which |
transfers the following real and personal
property
/. Three lots in Danville. with tobacco
factories erected on them. known as the |
SPRING or Market-street factory: the |
Ieigh-street factory. and the Dohan FAC
tory on Patton street These three par /
ce,s of property are subject 10 the lien /
of two deeds Of trust for the benefit OF 4
James r. Gordon as executor Of {. T. /
Vhitlock. deceased under which deeds /
there is due the aggregate sum OF Sl5'VJO. /
. The house ana lot in the city Of |
Richmond occupied by Mr.. and Mrs /,
Pace as a residence. northwest corner /
Franklin and Adams streets.
8. All the right, title, and interest /
namely. one undivided half in the fol- /
lowing lots Of land in Henrico county, /
conveyed to Messrs. James y. Pace and /
James H. Dooley. In Henrico county: |
A lot of land with improvements, on /
the southwest corner Of Main and Mea- |
dow streets: another lot in the /
same square: a lot Of land on the north /
east corner Of Main and Meadow streets: I
a lot Of land on the southeast corner OF /
Main and Meadow streets: a lot on the /
southeast corner Of POwhatan and /
OF Dance west OF Carter street; n lot /
on the north side OF Dance east Of Mea- /
dow street: lot on the south /
side OF Dance. east Of Meadow street: /
a lot on the south side OF Williams east /
OF Meadow street; lot on the north I
side OF Wallace east Of Meadow street. 1
a lot on the north line Of Wallace street. |
IN the same block.
MUCH WEST END LAND.
T. The following lots or parcels OF
land: \ lot on the east line of Reservoir
street east OF Wallace street: lo' on the
west line of Reservoir street North OF
Beverly street; lot on the south line OF
Ashland street east Of Randolph street;
a lot on the west line Of Randolph. south
Of Claiborne street. a lot on the north
line OF Claiborne street west Of the Oid 4
reservoir; a lot on the north side Of
Winder cas-; OF Washington street aud
another lot in The same block. two more
lots In the same block q lot OH the north |
line Of Winder west Of Washington
street: the lots on the north line CT VIM
der west OF Carter street. four lots on
the south line OF Blair west OF Wash
ineion street. one lot on the north line
or Blair cas-. Of Washington street: two
lots on the south line Of Claiborne Yves.
OF Randolph street; one lot on toe north
line Of Claiborne east OF Carter street.
one 10Y on lhc nofth me OF Claiborne I
west Of Carter street. one lot on the north
line 81 Achland west Of Randolph .treet.
one lot on the south line Of Ashland
ear; Of Carter street: one lot on Tho
south line OF Ashland east or Corter
street: one lot on the north line OF hsb.
land west ~ Randolph street one n,
on the north line OF Ashland street oast
o. Washington street; one lot on he
south line Of i<emper street east 81
Washington street. one LOT ON fis s,,.-,t
line Of Kemper street east OF Washing
ION .-rDnL- one lnt ON Inc aA--th IT,. - !