Daily press. [volume] (Newport News, Va.) 1896-current, 1909-10-31
MEANS PLAINTIFFS GET
PRACTICALLY NOTHING
Directors Who Are Held Accountable
Probably Can Pay Only Small Per-
centage of Shortage-other De-
PENDANTS Were Not Directors at
Time of fuckers DefaIcation.

In the Corporation Court yesterday
morning. Judge John H. Ingram, Oh
the Law and Chancery Court of Rich
mond. rendered his decision in the
suit Ct the derOsiturs against the d.
rectors OF the defunct Savings Bank
of Newport News for the recovery or
the full amount of their deposits. He
holds that only DIR. Carter Perkins,
the former cashier. and DR.. Clarence
Porter Jones and A. T. Pulliam, di-
rectors. are liable TO the depositors
for the losses sustained by them
through the .wrecking of the bank by
the late president. Irwin Tucker.
Judge Ingram and that the other
defendants were not responsible IN
the wrecking of the bank and they
are not held liable. They are: City
Treasurer J. NJ Curtis, City Sergeant
Emmett w. Milstead, l.. F. Barnes,
j. G.. Lattimer. r. NJ. Lett. J. A. Mas
sic, r. W. Newman. A A. Meyers,
Edwin r. Vaughan. l.. r. Undertake,
w H. Sears. P. W. Hiden and DR..
Noah Jackson In generating these
men from 1ame, Judge Ingram holos
that they were net directors of the
bank when the defalcations of Tucker
began in 1908.
Practically Nothing for Depositors.
Under this decision. it is said, seven
hundred depositors of the bank VII
get practically nothing. All the
money that might be secured by a
Judgment against the three directors
held liable would. il is said, amount
to only very small percentage OF
the actual losses sustained by the de-
positors in the failure of the bank.
The total amchnt of the losses is
approximately $4,000. Some OF the
individual depositors had as high as
$1,000 on deposit. while two or three
hundred of them-and NEST of these
are poor people-had deposits ranging
from $50 to $500.
Cost Thousands 20 Appeal.
Up to this time 10 appeal has been
noted in the case and it is thought
probable that an appeal will not be
taken. II is estimated that it will
. cost amout $1,000 to get the record
OF the case fled in the Supreme
Court CT Appeals 81 Virginia The rec
ords in the case cover from $500 to
3.coo typewriter pages and IT would
cost 1000 TO have this record copied
The cost Ct printing would amount 10
about $500 and the incidental ex-
penses would swell the total To about
$4,000.
A meeting of ihe depositors will
Re held in the near future ard tnen
Captain Charles c. Berkeley and Hon.
a. Caperton Braxtcn, counsel for the
depos.tcrs. VIII take the matter I'D
with them. The fund set aside Tor
fighting the case is about exhausted
and If they appeal. the depositors
must put up the Necessary 5000.
On the other hand it IS not likely
that the three directors held liable
will appeal as they would have to pu;
up 5000.
Many Attorneys in Case.
When Judge Ingram sscended the
bench. the directors OF the bank and
their attorneys were On hand and
there was quite a crowd Of spectators
gathered ~ the room. Captain Berke-
icy and Hon A ceDcrton Braxton
were the attorneys for the plaiBtias
The attorneys FOR the dffensc were:
Messrs. r. C. Bickfcrd. o. y. Bsfche-
loT. J. Winston Read. S. Gordon Cum
ming. u Hampton: White. Of Norfolk,
and Priiian. Of Richmond.
The decision covered twenty str
tyrewritten pages and So reading
consumed considerable time. The
decision came a. a surprise 20 many
Of thosc IN the court room. II was
q disappointment TO Captain Iscrkc-
ley. Mr.. Braxton. the three directors
bed Iiatie and the depositors pres
enf. On che other hand. the direc-
tcrs who were held blsmclcss and
tscir attorneys were naturally much
zratificd and cheated.
The directors sno are held are fhe
only one Of the defendants who ao-
n.ttcd that they uerc directors Wien
The bank failed. Al u the Others