The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-06-28
CONDITION OF THE BANK.
What the Depositors' Committee Think
of the Assets.

The committee recently appointed by
the depositors of the Trust Company to
examine and report to them the true
condition of the assets of the institution
have, after laboring assiduously for three
days, rendered the following report,
which speaks for itself:
sRoanoke, Va, June 81. 1896.
To the Depositors of the Roanoke Trust,
Loan and Safe Deposit Co,
The committee appointed ut the meet
ing held in the Old Opera House ON Mon
day, June 22d, beg leave to report that
they have been diligently at work at con
siderable sacrifice of their personal con-
venlence, have examined all data in the
trustees hands, have obtained from him
the ltemiZed reports of the various COM
panies in which the Trust Company was
material stakeholder, and have person
ally examined the executive officers of
these subsidiary companies, to get fur
Their into the detail, and we now feel that
we are able to make report which
cannot but be gratifying to the many in
terests represented at the meeting which
appointed U.S.
VI the vast volume of assets submitted
for our inspection and appraisement, we
nave made an itemiZed and detailed valu-
alton. The views of others as to higher
values did not affect us. We were ruth
less in our estimates of value
Dividing these assets into three classes.
viz: Realty, bills receivable and stocks
and bonds, we recognized the difficulty
OF making real estate sales, especially of
encountered property; the difficulty of
collecting bills receivable other than
gradually, and the difficulty of realizing
on the stocks of other companies, when
the assets of those companies were also
of varying value and composite nature
Your committee are of the opinion that,
giving time, Mr.. Lucian II. Cooke, trus-
tee, will be able to distribute to the de-
posltors in the Roanoke Trust Company
dollar for dollar, with interest thereon
added from date of assignment. He can
not do this in Il month or n wear. his work
will he delicate, arduouS and tedious, hut
the assets in his hands have great value,
and our estimates have ben based only on
their worth ut forced sale
The total liabilities of the
Trust Company as reported
by the trustee. Mr.. Cooke.
and verified by us, aggre-
gate S249 524 II
Deducting from this amount
the claims of those who, as
stockholders, are prevented
from participating in the
assets until all other claims
are settled, viz: 49,. 3,101 GA
We have n liability of $226, 332 So
We give, in brief, synopsis
of our valuations:
Bills receivable SOL. so 30
Stocks and bonds 81, 675 90
Real estate 10, 7S5. 90
Sundries 1880 90
5000, $50 80
Your committee feel that in the above
report they have discharged the prelimi-
nary part of their duties, but at the re-
quest of the trustee and in compliance
with the resolution appointing us, we
Will continue as committee in order to
confer with and advise Mr. Cooke in the
carrying out of his trust.
In conclusion we respectfully and ear
nestly urge the creditors to unite and CO.
operate with the trustee in his efforts to
obtain full value for the vast assets COM
mitted to his care, and we especially de
precate any litigation, as it will only tend
to hamper the trustee and deprecate the
marketable value of the assets upon
which he must realize in order to settle
your claims. Respectfully submitted.
MALCOLM w. BRYAN.
I. 4. FISHBURNE,
w. p. DUPUY,
Committee.
With every purchase you get check
"A UOllarS' worth of chacLS antitl., ,-ot, +o