The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-06-16


yesterday was the assignment of the
Roanoke Trust, Loan and Safe Deposit
Company. Although the news was
pretty generally known during the
early morning hours there was not much
excitement over the situation, and the
little in evidence WAS generally con-
fined to depositors of the institution
which had closed its doors.
Quite crowd gathered in the morn
ing in the vicinity Of the Terry build
ing, while the officers Of she institution
together with the trustee were close ted
in the private Office Of Mr.. Terry going
over the assets OF the concern.
A representative of THE TIMES called
on Mr.. Cooke, the trustee, but he would
make no statement concerning the con-
dition of the affairs Of the concern. from
the fact that he had not had time to ex-
anime into and complete an inventory
of the assets. He said that 1t might be
completed in the course OF two or three
days, and as soon as that con be dono,
and enough money Is collected from
the proceeds, 5 per cent. Of the amount
of deposits will be distributed among the
various depositors.
The trouble was caused by the bank
making too many real estate loans and
when the paper matured the people to
whom 1t had been loaned could not pay
1t. Property was sold under mortgages
and bought In by the trust company,
which failed to 6nd any sale for these
purchases.
The banks were all opened at q. m
yesterday morning, one hour earlier
than usual and at the First National
the clerks and officials were notified to
keep their heads and be perfectly cool.
to pay all demands made on the bank
and not turn down single legitimately
drawn check, and thai they would keep
open until 6 o'clock II necessary in order
to pay the demands should q run be
made on the bank.
Slight were made on the First
National Bank for o few hours In the
forenoon; but the bank gsined more in
the afternoon than 1t lost before 12
O'Clock and there WAS no occasion to
keep open longer than the usual time of
closing In the afternoon.
Much of the excitement WAS probably
due to the fact that the employees OF the
Norfolk and Western offices had re-
ceived their checks and presented them
for payment at the First National. The
railroad officials offered to hold over the
checks II necessary, but Mr.. Trout
thought there was no good reason why
the payment should be deferred.
No apprehension is felt by bank off,
cisls for the future, so far as the various
Roanoke banks are concerned. Tele-
grams were received by the First Ma
tional. National Exchange and Com
mercial from out-of-town correspon.
dents and Northern banks Offering as
sistance If needed, all of which were
declined with thanks, as they were all
amply able to take care of the demands
of their depositors.
There was no run made on the Com
mercial National, but few small
amounts were withdrawn in the morn
ing, but everything was quiet by IL
o'clock and nothing OF an unusual nature
WAS noticeable about this institution.
But very little money WAS drawn out.
There were more deposits than usual
yesterday and not single business
man drew dollar out of the bank
The officials apprehend no danger.
The National Exchange did not ex-
perience any run at all. There WAS alb
solutely no excitement, and the bank
received more deposits yesterday than
during any other one day within the