The Mathews journal. (Mathews C.H. [Court House]) 1903-1937, 1911-01-19
TREASURER LOSES
BY BANK FAILURE
Funds Should Have Been Sent to
Auditor by December 10Th, But
Robinson Waited Overtime
and Got Caught-Now =
He's Responsible.

ALEXANDRIA, VA. - Special. -
Hard luck OF the cruel. remorselesa
kind that recognizes no honesty OF
purpose, has oVertaken Thomas w
Robinson, treasurer of the city OF
Alexandria.
In the Virginia Safe Deposit ana
trust Corporation OF Alexandria,
which failed a few days ago. he had
over $4,000 of funds belonging to
the Commonwealth OF Virginia, and
for all this he is responsible to the
State.
The law requires that treasurers
shall settle with the Auditor OF Pub
tic Accounts twice a year-on Juno
18th and December 18th. The De-
cember settlement Is supposed to In
clude funds received up to December
LIST.
Mr.. Robinson, whose sincerity Of
purpose is not for a minute question:
ed, did not settle up at the prescribed
time. lie expected more funds to
come in in the course of a few days
and so he decided he would wait about
tire amount
His delinquency. venial as It would
nave been under ordinary circum-
stances, was fatal in shis case. The
concern failed. and, of course Mr.
Robinson is personally responsible Tor
the money and must pay II, II he can
possibly procure funds with which to
DO so, The risk was his and 90 q the
In such cases the principal. of
course. is primarily responsible. ana
IN the event Of his failure. recourse
Is had to his sureties. In this in
stance the Virginia Safe Deposit ana
Trust Company was not only the
holder of the moneys deposited nv
the unfortunate treasurer. but II was
also MS surety or guarantor. There
Tore. doubt exists as to what will be
the sequel.
1t looks now oS 90 ~. e.. =. -,
better position than the other cred
ltors OF the bank, and that It win
nave TO come in as a pro rata par
ton.
1t is regarded as peculiarly unfor-
tunate that Mr. Robinson should have
nad as his guarantor or bondsman
the same concern in which he depos-
tied his collections
While he in no way violated the
law In selecting such a surety Il is
now realized, in view of what bannen-
ed, that he made a lamentable mis-
take. Probably a law will be adopted
10 FORBID this practice hereafter.
WINE great deal of reserve IS,
maintained in regard TO the matter
Dy state OFFICIALS here. IL is known
that conference was held TODAY wifi,
interests
Nobody is at all inclined TO sneak
severely Of Mr.. Robinson. on the con
trary' many expressions Of sympathy
are heard concerning him. II a.
known. too, that the representa- iyes
or the Commonwealth while thew
naturally will first look to the pro
lection of the State will also do ALI
IN their power to help the treasurer
Just what line of procedure will be
followed is not clearly explained At
torney General Williams has been to
Alexandria and had a conference with
Mr.. Robinson. But he was disin-
ciined TO go into details about II this
afternoon. Indeed he eVinced n dis
all, though he admitted that the treas
urer, under the circumstances. had
acted with great circumspection.
MI Robinson, in addition to the
monies belonging TO the Common
wealth, had private funds of his own
on deposit. His interest in these he
readily assigned TO the representatives
OF the State In the hope that alto
gether the $4,000 for which he is re-
sponsible VIII ultimately find its way
into the public treasury.
OF course. the exact extent of Mr.
RoDlnson's losses cannot be ascertain
ed until II is known how well the as
sets OF the Virginia Safe Deposit and
Trust Company of Alexandria will pan
| out.
The interests of the State will be
\ looked after by the Attorney General
and as has been said before. efforts
VIII be made not only to recover ali
the money owing the Commonwealth,
put also TO reduce Mr.. Robinson's
losses as much as possible
The defunct concern did business
Doth as bank and trust company.