The free lance. (Fredericksburg, Va.) 1885-1926, 1911-01-26
REPORT ON
BANK FAILURE
Indictments Under Wsy---Charges
Against C. ]. Rixey.
Swore His Personal Account Was Not
Overdrswn-BOoks Showed Other
wise.

wise.
That c. Jones RiXey. president o
the Virginia Safe Deposit and Trus
Corporation OF Alexandria, is re
sponsible for the collapse OF tina
institution, which was placed in tbs
hands Of receivers on Dec. 29 last
Is the opinion of a special CRANE
Jury in a written report made Tues
day.
Commonwealth Attorney Bren
asked for a few days in whici
to draft the indictments called for
John l.. Jeffries. one of Mr.. RiNey
attorneys, stated that he had impor
tant case in Norfolk Wednesday. Al
ter consultation between Judg'
Barley and counsel for both side
the jury was excused until Friday
Feb. 3.
Gharges Against RiNcy.
Following is the report in par
made by the jury TO Judge Barley
/. Under date OF September /
1909. c. j. Rixey. as president o
the Virginia Safe Deposit and Trus
Corporation. did certify under oati
that the total y overdrafts, secur
ed and unsecured. OF the said cor.
poration amounted to the sum OF
s1.377.72; he also certified that MS
account was not overdrawn.
We find the said certified state
ment to be knowingly and willfully
false in both particulars, as the
books of the said corporation snow
that upon the said date, namely
Sept. 1, 1909. his account was over
drawn to the amount OF $4,oS 20,
2. Under date OF Nov. 10, lSVS
C. ]. Rixey did certify that the total
oyerdrafts. secured and secured. OF
said corporation. amounted to $3.50
81 and that his account was not
oyerdrawn.
We find the said certified state
ment false in both particulars, as
his account was overdra"n %
612.71. 800
2. Under date Of Jan. 81, 1910
c. J. Rixey did certify that the to-
tai oyerdrafts of said corporation
amounted to $2,329.01; and tha'
his account was not overdrawn.
The books show that upon Jan
81. 1910, his account was overdra"h
s13,336.7S.
4 Under date OF March 29,1S1O,
c. ]. Rixey did certify that the total
oyerdrafts amounted TO $l,5Sl.54;
and that his account was not over
drawn.
The books show that upon March
2s. 1910, his account was over
drawn s15,074.57. .o,o
s. Under date of Feb. %, 1910
G. ] Rixey did certify to the com
missioner of insurance that the
amount loaned to directors or otner
officers OF said corporation, upon
Dec. 81, 1903. amounted to S2'4Ol'
So.
The books show that upon Dec.
81. 1905, his account was overdra"n
To the amount of SIS, 329.3l.
&. Under date of a day in june
1910 ION or about the 18TH. Z. ).
Rixey did make an entry OF %oV'
600 upon the credit side OF ms &C
count In the individual deposit leu
ger. 10
We find the said entry TO be
knowingly and willfully false, as no
equivalent was given the SAID COT
poration. % ,ooo
= Under date of Nov. co. lSOS,
n Rixey did make an entry OF
s14.721.46 upon the credit side Oh
the account of the Piedmont MIL
ing Company in the indiyidual oe
posit ledger.
We find the said entry to be
knowingly and willfully false, as ne
equivalent for the said entry was
given.
&. Under date of a day In June,
1870. c. ]. Rixey did make an entry
of s5,400 upon the credit side Oh
the account of Carrie +. Beckham
In the individual deposit ledger
No equivalent for the said entry
was given.
9. We find from the testimony
that the directors, other than z. j.
Rixey. are free from criminal wrong
but they placed too much confidence
In one man.
We are convinced that the whole
management and direction OF the
affairs of the Virginia Safe Depos-
II and Trust Corporation was abb
solutely under the control OF
its president. c. j. Rixey.
The case has attracted general at
tention and 1t is expected that a
formidable array of legal talent rep
resenting MIR. Rixey will be on hand
when the bills OF indictment are
presented.