Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1913-02-14
TRUST COMPANY
REPORT FILED !
Walter c.. Foster Gives Re.
suit Of Examination of
Banks Affairs.
RECEIVERS PRAISED

propert, Turned Over by c. Jones
Rixey-Cash on Hand, $4,000.
Tfs. report of Walter c. Foster
who was named as special commits
sioner under decree entered August
5th, 1912, in the case Of the defunct
Virginia Safe Deposit and Trust
Corporation, was filed in the Cor
poration Court this morning. BY the
decree above mentioned, this cause
was referred to Mr.. Foster to settle
the accounts of the Receivers of the
Trust Corporation to August 5th'
1912, or the date of the acceptance
by the Court, of the resignation Of
Judge j. K. NJ. Norton, one of the
receivers. The report is rather vol
luminous. and cannot be set out In
full.
It shows that at the time of the ap-
rointment of the receivers, cash on
hand amounted to $34 4,S05.76; the re-
ceipts from the sale of the real es-
tate owned by the defunct corpora
tion and decided to the receivers by
C. J. Rixey and wife, amounted to
SO, ,GS6.O9; receipts from the sale .of
stocks, bonds and other securities,
less expenses, assigned by c. J.
Rixey to the receivers, $34,99l.27; re-
ceipts from the sale Of property on
farms, less expenses, assigned by T..
]. RixGy to the receivers, S6,734.o9;
cash and receipts from the sale OF
rnclassified securities, assigned by
c. J. Rixey to the receivers, SS,6O6.0o'
receipts from the sale of stocks ana
bonds held and owned by tn" de-
fendant corporation at the time OF
the appointment of the receivers
S28,232.6S; notes or bills receivable
collected, S1O1, $3.50; money collect
ed from banks and bankers, due the
defendant corporation, s4,l7l.92; ov-
crdrafts collected, S5,32l.7l; re-
ceipts from the sale of furniture be-
longing to the defendant corporation
s9O4.C0, rent of property belonging
to the defendant corporation, con-
reyed to the receivers by {. }. RlSeE
and wife, less expenses, S2,O3l.5f;
money due bonding department, col
lccted after appointment Of receIv-
ers, $3.50; profit account, which IN
cluded the interest on money depos-
tied in banks by the receivers, and
interest paid on outstanding notes or
bills receivable, S3,278.S6; making a
total of 1901. .277.09.
The Special Commissioner has
credited the receivers with the money
allowed as set-off, against the funds
due the holders of notes and bills
receivable in such cases as the court
allowed; this amounted to SIS ,26S.57;
the preferred claims, which were paid
in full, amount to S34,54O.8O; two
dividends of twenty per cent and
ten per cent, respectively, which were
paid on preferred clainms, amount
to S157,17359; the amount allowed
the receivers from the time of their
appointment until August 4, 1912,
s1O,354.60; Special Commissioner
John NJ. Johnson's account for fees
and expenses, in ascertaining the as
sets and liabilities of the de-
fendant corporation, early in the year
1911, s2,oo29.33; the expenses Of ad-
ministration of the receivershlp
amount to 's11. .503.06; liabilities not
otherwise scheduled, s2o6.65; cash on
hand August 5th, 1912, s7o,o46.6s,
making a total of S301,277O9.
Before closing his report Mr.. Fos-
ter pays a compliment to the re-
ceiyers for their able conduct of the
affairs of the corporation; ne says:
Though not called for by the de,
cree of reference, your Commission
er feels it due to the Receivers, &c
say that his investigation of thei,
management of the affairs of tbs
Virginia Safe Deposit and Trust Cor
, poration, shows the same to have
/; been most careful and efficient, re-
/ sulting in the saving OF great dea
of money to creditors. Their dutie:
called for excellent legal, as we'll a:
business judgment. A review of ths
; many matters calling for both 0,
! these sttsinments could not set our
1 r.. =