Daily press. [volume] (Newport News, Va.) 1896-current, 1910-12-09
contest will be fought out in the
courts.
Tells Of the Business.


searching examination covering the
state Of affairs in the three banks. He
said that the capital OF the Upperville
Bank was supposed 10 be drawn from
the Hampton bank. Noseertain amount
was put aside. but he and his brother
simply drew on each other. re ad.
mitted that he knew that the Bank OF
upperville WAS not making money,
although he spent s6.79l on his own
account in less than. two years. lie
said the money went 10 household ex-
pensss, one item being 5000 for lie
Insurance premiums. Mr. Boyenton
said he never carried a personal bank
account and took the money to live on
from the general funds of the institu-
tions. He submitted TO the meeting
a number of checks showing how he
spent the money. He said that his
fathers estate carried no deposit in
Uppervile, but carried all its money
in the Hampton hank. MIR. Boyenton,
under the advice OF his attorney, Fay
s. Collier, declined 10 answer num-
her OF questions. as he is under in
dictn IN Fauquier county. He de-
ciarel that $4,000 was put in the busi-
ness. when the bank at Hampton was
started in 1901, but that no book rec
ord was made OF this act. The money
was simply put in as cash capital
stock. Mr.. Boyenton was Kept on the
stand some time and put through a
most searching examination.
John c. Boyenton.
JOIN C. Boyenton, the other mem.
Der Of Boyenton e Co, was On the
witness stand for more than an hour.
but very little information was OBJ
tanned from him. He said that $4,000
was placed in the business when II
started. but that he and his brother
never had q written partnership agree
ment w. II. Boyenton was TO receive
a salary of s65 per month and he used
what was necessary for him 10 support
his family on. He was never able to
say whether the bank was making
or losing money. as so far as he was
aware not a single trial balance was
made OF the banks affairs from the
day i. started until its close by the
bankruptcy proceedings. He knew
nothing CT his fathers estate. further
than the will had never been probated
He lad nothing to do with the conduct
ofthe bank at Upperville or at Mid
dleburg.
Elected Three Trustees.
The meeting of the<Aepositors and
creditors was held in the banking
house of Boyenton & Co. and was pre-
sided over by Referee in Bankruptcy
John D. Locke The banking house
was crowded with depositors, while
the attorneys representing the deposit
ors were S. G. Cumming. s. ]. Dudley,
B. A. Lewis. ]. A. O. Keith, f. F.
Causey, c. l.. Collier and others
After The meeting had been organ.
lied for business William c. l.. ITALIA
ferro and John Weymouth, the receiv-
ers, submitted their report. which was
published in these columns last Sun
day and which was heard with inter
est by the assembled depositors.
Following the reading of the receiv-
ers' report the question Of the election
cf permanent trustees was taken up
and after number of nominations
had' been made. Referee Locke, BY
agreement, selected John Weymouth
and c. Locke Collier, of Hampton. and
j. II. Richards. of Warrenton, as the
permanent trustees The trustees will
give $4,000 bond, through VI. o..
Lackey, in the United States Trust ana
Fidelity Company, of Baltimore, and
will Immediately take charge of the
affairs ofethe three banks.
Following the election of the trus-
tees It was announced that William c.
l. Taliaferro, of Hampton, was select
ed rs attorney for the trustees here
and that an attorney would likely also
be named from Warrentcn.
Referee Locke said he would con-
firm all the elections and that the
bond required would be sufficient.
Disposing OF the elections and other
opening business, the matter of EXAM
ming the barkrupts was discussed and
adjournment was takea for the dinner
hour.
During the afternoon the examina-
lion of W. II. Boyenion and J. c. Boy
entoa took place and the testimony
proved probably the most Interesting.
sensational and remarkable ever
brought out in local bankruptcy pro-
'ceedings.
CONFERENCE.-The Attorney ]. A. G.
Nettn. o. fduQultI todutf, WHO VIII
prosecute William n. BoyentoH at his
trial in January. was present through
out the day. He asked Mr.. Boyenton
many questions, which the latter de-
clined to answer under the advice of
his counsel, Fay S. Collier.
During the proceedings yesterday
Mr.. Keith announced that he expects
70 make an effort TO have the proceeds
of Zach insolvent bank TO be dis;rib-
uted airong The creditors OF such bank
md rot to have the general proceeds
7pportioned among the general cred
itors of all three banks He said this
was done with the vie~ 20 protecting
he creditors of the 8acS up Upper
vile.
When adjournment ~ss taken il
was that another meeting Of the cred
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