Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-12-30
ALEXANDRIA AFFAIRS
Trust Company Depositors Ex-
pect to Be Paid in Full.
FORCED TO QUIT BUSINESS
License Had Been Revoked by State
Bureau of Insurance-Will of
Charles King Probated.
Of The Star.

| Special Correspondence Of The Star.
| ALEXANDRIA, Va. December 50. 1910.
| The work of going over the books of
| the Virginia Safe Deposit and Trust Cor
| poration. which institution closed its
doors yesterday morning following the
appointment of receivers. will be begun
this afternoon by National Bank Ex-
aminer Coates of Richmond. who will
| come here expressly for that purpose.
| Nothing further regarding the financial
| affairs of the institution will be known
| until Examiner Coates completes his
| task. Just how long it will be before
| the report will be completed John S.
Barbour. one of the receivers. this morn
| ing was unable to say
Co-receiver to Be Asked.
The appointment of co-receiver for
| the bank will be asked for at 10 o'clock
tomorrow morning before Judge l.. c.
Barley in the corporation court by Attor-
neys MOncure. Wamper and Goth of
Alexandria county. in the interest of a
number of clients who have retained them
to look after their interests. Mr.. Mon
cure said this morning that he had served
notice on Judge J. X. NJ. Norton, one OF
the receivers, that he would ask for the
appointment of a co-receiver.
The closing of the bank is still the
principal topic of conversation on the
streets, especially by those who had de-
pOsits there. There is considerable specu-
lation as to the outcome The majority
of depositors. however are of the opinion
that they will be paid up in full. Re-
ferent branches of the concern in other
sections OF the state would seem to indi-
cate that the out-of-town depositors or,
at least, the majority Of them feel salts
fed that they will not lose anything by
the closing of the bank.
The closing Of the bank did not in any
manner affect any of the other financial
institutions Of the city.
Ordered to Quit Business.
Concerning the failure a dispatch from
Richmond says: ION December the
state bureau Of insurance issued an order
lrevoking the license Of the corporation to
do business as a trust company in ,ir-
ginia. The order directed the concern to
write no new bonds, to renew no former
bonds. and not to qualify as executor or
administrator Of estates This action re-
suited from an examination made by the
state bank examiner, which apparently
disclosed exceedingly unsatisfactory con-
ditions.
1.-The company did both banking and
surety business. 1t is probable that
action would have been taken earlier
but for the fact that until recently no
examination could be had of state
banks. and the insurance department
could not look into the banking end of
the business. The assets were held in
common for both departments.
Since the issuance Of the order Of
December the representatives Of the
institution have been busy in endeavor-
ing to secure its revocation. This the
department refused to do. 1t was
stated that c. J. Rixey, president had
turned over a large amount Of real es-
tate to secure its liabilities"
Old Game Works Successfully.
The fimfiam game, which for the past
ten months has been worrying the
members of the police department. was
successfully worked again last night,
when a strange white man sent youth
to the residence of w. H. Beach, North
Royal street, and secured from the
house a ladys gold hunting-case watch
The stranger told the lad to go to the
house and say Mr.. Beach had sent for
the watch. He did as requested, and
the watch was given to him and he
turned it over to the stranger. who
paid him cents and vanished. Imme-
diately afterward a report of the affair
was made to the police, who have a
description Of the man.