The Washington herald., 1914-02-07
DEPOSITORS agree
TO ACCEPT $4,000
Majority Of Those Who Had Money in
Virginia Safe Deposit Concern
Vote Favorably.

Alexandria, Va, Feb GA majority of
the depositors IN the defunct Virginia
Safe Deposit and Trust Corporation,
which institution had its main bank here.
with eight branches scattered throughout
the State. have voted to accept the offer
OF $4,000 made by seven Of the twelve
directors Of the concern, who agreed to
pay the receiver. Howard w. Smith. the
foregoing sum ins settlement of all claims
against them in connection with the col
lapse Of the concern. The total majority
for the compromise is "a
In this city there were 81 depositors,
representing S1a0. 4Ss6. and out Of this
number 20l, representing $50 oceo1s. favor
ed a compromise. Basic City and Diilwyn
were the .only two branches against ac-
cepting the compromise.
1t is expected that within the next few
days the court viii enter decree author
iEing the receiver to accept the $4,000
and dismiss the suit pending against the
directors Of the concern.
This means that the depositors will re-
ceive an additional dividend Of or .
per cent. They already have received q
total Of IS per cent of their deposits since
the concern closed its doors.
The following are the directors who
agree to pay the $4,000: George 8. French.
Henry X. Field, c. C. Leadbeater.
Thomas ]. Fannon. Gardner L. Booths,
Margaret ]. Robinson. Administrative Of
the win of John z. Robinson: Caroline
Baader, executrix, and William Baader
and Douglas Stuart. executors OF the last
will and testament of Henry Baader.
The Virginia Safe Deposit and Trust
Corporation, Of which C. Jones Rixey
was president. closed its doors December
9. $50. as did its eight branch banks at
the following places: Gordonsville.
Dillwyn, Lovinston, Remington, Culpeper,
Charlottesville. Basic City, and Herndon.
The closing of these institutions caused
a panic among the nearly 1000 depositors.
many of whom had their life savings tied
up in the bank Rixey, the president of
the concern, escaped trial by being de-
clared OF unsound mind and is now a
patient in the Western State Asylum.
Staunton, Va
Members of Alexandria Council, No. s.
Order OF Fraternal Americans. have &C.
cepted an invitation to take part in the
parade to be held here February q A
committee OF twelve members has been
appointed to complete details. Members
of the order from surrounding counties
and Washington will be invited to par
ticipate.
Colored public school-teachers of the
State will meet in this city February
2S-H The school board has granted the
colored teachers a haf-holiday on the
18th. and a full holiday the 9Th. in order |
that they may attend.
Encouraging reports tonight were re-
ceived by the George Washington Birth
day Association from the various COM |
mitees relative to the parade which will !
be held February %
The city school board will give the |
children of the public schools a holiday
February 9 in observance of Washing !
toms birthday.
H T. White has been chosen a teacher +,
in Hallowell School for Colored Girls |
to fill a vacancy caused by death.
T. NJ. Burton has purchased from
C. Rawlett and wife two two
story brick dwelling houses, SIS and $50 !
North Pitt street. A deed Of conveyance \
was placed on record today in the office /
Of the clerk Of the Corporation Court
Policeman Roberts has cited a colored /
man manned Stephen White to appear in i
the Police Court tomorrow because, it is
alleged, he violates a city ordinance by
keeping swine within the city limits