Daily press. [volume] (Newport News, Va.) 1896-current, 1909-12-01
Bank Depositors May Get Prac-
tically Nothing.
THIRD BANKRUPTCY CASE
A. 7. PuiIism Files Petition Asking
Relief From Federal Court on Ae-
count OF Judge Ineram's Decision
Attorney Wise Explains.

That the depositcrs of the wrecked
Savings Bank Of Newport News will
not receive one cent Of their de-
posts unless the case is appealed to
the Supreme Court of Virginia and
that court reverses Judge John TX. In
gram Is now practically certain. Dr.
Clarence Porter Jones, DR. Carter
Perkins and Albert t. Pulliam, the
three directors held by Judge Ingram
10 be responsible for the payment OF
$4,000 to the depositors, have asked
Judge Edmund Waddill. Ir.. in tho
Federal court at Norfolk, to adjudge
them hankrupts and thus relieve them
from paying any part of the money.
ur. Perkins application has already
been granted by Judge Waddill and
4 meeting Of his creditors Will be-
held on December II.
DIR. Perkins was the first TO ask re-
lief from the payment OF the money
and DIR. jones followed Mr.. Pulliam
dled his petition at Norfolk Monday.
Judge waddill probably will take up
beth OF the latter cases this month.
Property Levied Upon.
Judgment against DIR. Perkins. DR..
Jones and Mr.. Pulliam was entered
Immediately after Judge Iugram's de-
cision was announced and Deputy
City Sergeant c. c. Curtis later at
,ached the property OF the three d.
rectors. II was after the deputy SER
geant had levied upon DR.. Jones
medical instruments, books etc, that
he applied to Judge Waddill fer relief
srom the payment OF any part of the
money 10 the depositors under Judge
Ingram's decision.
The taking of the cases tc the ted
eral court stops. for time at least.
the proceedings by the authorities
here against the directors. for If any
of their property Is disposed of Dy
the civil authorities here this would
constitute contempt Of the United
States court
Liabilities Are S77,2s9.sa.
In his bill asking that he be placed
n voluntary bankruptcy, Mr.. Pulliam
lists his liabilities at S77,299.3S and
his assets at $4,000. OF his liabilities
sls.4So is In secured claims, s4o.9ie.l5
Is IN unsecured claims. and there are
notes and bills aggregating s16,s54.2S.
which ought to be paid by other par
ties thereto. The assets consist or
real estate only.
Attorney George helms Wise. OF
this city, rs counsel fer Mr.. Puliiam.
and he made the following statement
yesterday regarding the application In
bankruptcy:
MI Pulliam is IN bankruptcy as
the result CT the Savings Bank case.
You will recall the fact that the opin-
ion Of the court expressly exonera,ed
Mr. Pulliam and Crs. Jones and Per
kins. who were held technically La
bic 10 the depc sitcre, the court using
this language:
81 have no doubt that Messrs. Pull
HIM and Jones as well az DIR. Per
kins we're never in any way guilty
OF uisfeasance. but that they were
guilty Of ron-feassnce In the plain
intendent q law. there is no DOUBT,
ami the court feels constrained 10
order entered against them a decree
Tor the losses sustained by the ,n-
crease OF the loans 10 Tucker. and the
Realty Trust ana Insurance Company.
and the money absrractef and embez-
zled by Tucker
Real Estate Not an Asset
The petition VIII show that in the
liabilities large percentage OF those
ever and above the bank claim are
debts secured by mortgages and 9TH
erwise. which have been assumed by
the purchaser OF real estate. wniie
the real estate cannot be scheduled
as the assets Of the bankrupt
As yet the depositors have not de-
cided whether or not they will ap-
peal the case to the State Supreme
Court II is estimated that the cos;
Of the appeal will amount 20 s5.ooo.