The times. [volume] (Richmond, Va.) 1890-1903, 1900-12-27
OLD TOWN BANK.
Receiver Appointed With Consent oil
The Directors.
Associated Prcss.l

a
RAITTAIORE. Dec. 25.-Rogers T. Gill,
If the law firm OF y. Eufus Gill and Sons,
was late this evening, appointed receiver
for the Old Town Bank by Judge Stock
bridge. The appointment was made with
the consent OF the president and olhclais
OF the bank.
Mr. GIL was bonded in the sum or ST.
! SEQ go. the assets OF the institution neihS
valued at half that amount
George Schillins, a stockholder and de-
nositor. and Robert l.. Gill, a deposltor,
were the compliments. In their statement
to the court, they state:
..While the bank. until a recent PERIOD
has done a successful and proftapie buSl-
ness. il has recently incurred heaNE !osseS
ok the bad faith OF its cashier, heouVte
+ Wilcox. in that without authority ne
wrongtuly. without the knowledge OF us
president or board Of directors, permitted
isaac Robinson and the United MIX iro-
d,,cors' Association TO draw from the oahk
large sums of money and incurred 4osSeS
thereby which the bank is unaoie 10 ped.
..RI,mors affecting the financial condl-
ZION OF the bank are in circulation III COZ
sequence of which large sums Oh money
have been withdrawn by HepoS!'otS' an
u "a a n,,estion OF but a short time Wheh
~. hanlz will be compelled to close It's
Doors The bank is unable to pay It's ma
h;1i,ias in the usual course OF business ana
unless a receiver is appointed IL VIII re-
s,,It in a struggle to keep the doors OF III.
bank open, and deposltorS VIII StlieI ioaa'
Tho answer filed by President l.. u. SNIP
lev is as follows:
IT,. hank admits that, by reason OF the
facts stated In the bill OF complaints. II Is
~ longer able to meet its current oDllsa-
tso,s and believing it not further wise 10
,,,,7.,rt AXE to do business. but that It's as
80 ehorld de held for the mutual oeneht
~ AN nerso1ls ;.e..erested. il consents to the
.,,,on,rnent Of a receiver, or receivers, as
PRAYED for. .,, =.
Roth the firms mentioned in the Dill OF
co,,1nlaints are in receivers hands.
The sank was chartered by spec:aI acl
of the Legislature in 49, us cap!lai "aa
s1.ocr Its president is F. G. HtPsley,
and Theodore Z. Wilcox, cashier. On Sep
,a,,7,ar 51h the staunent of the CONDITION
ne business for the bank was as follows:
The total resources. 1885,, 6S3; including
loans and discounts. S9l2 l5i; stocks, !secur.
ties etc. $50 0<;5; due from National ana
State banks, &lS. $50, and money IN tAhk'
$50 S6.0 ooo.
T.iaI.Il;ties-Cash stock paid in, $4,000;
s,,rrE7,s fund. sl5o, 900: undivided profits,
les.s exoe,2ses etc, paid. $l4@i3; due to ma
q c,,,al state and private banks, s69,oo9; di-
yIdenGs unpaid. Sligo; individuals deposits
subject to check, S9o9,6t6; demand certll-
Gates OF deposit, $3.50; certified checks,
So, 2ls: cash outstanding. $1,000; total,
SI:Ss2255. 692.3S.
The United Milk Producers Association,
a company owned by farmers and dairy
men who ship milk to this market. went
into RECEIVERS hands in September. Its as
sets and liabilities were approximately
500. zoe
the Old Town Bank held considerable
Of the cornpany's paper. and Mr. wilcox.
ITS cr.s,l:er. was appointed co-re:eiver Al
a meeting of the unsecured creditors To-
aay II was decided to continue business
.,,nde. plans submitted by finance com
mit,ee OF the stockholders severa! days
ago
At a recent meeting Of the creditors of
Isaac Robinson, canned goods packer and
fertilizer manufacturer, preliminary
statement submitted ay the receivers
showed liabilities OF sS56.ee552S9 ard assets
s7l2 o65. SO. Efforts are being made 10 form
u stock company to take over Mr. Robin
sons business.
Il not known to what extent the paper
OF either concern is held by the Old Town
Bank, but the receiver announces that he
wall begin the work OF Investigation at
once and make public 4 statement at the
earliest possible moment