The Farmville herald and farmer-leader. (Farmville, Va.) 1934-1957, 1954-05-18
Almond Opinion
Rules Out Merger
For Dillwyn Bank
]. H. Spessard
Surprised By
Adverse Ruling

A legal snarl, concerning the
question of just where Charlottes-
vile is located, has blocked the
proposed merger Of the Bucking-
ham County Bank, at Dillwyn.
with Peoples National Bank of
Charlottesville.
From Dillwyn, to Charlottes-
vile. to Richmond and Washing
ton attempts to get final approval
for the merger have been unsuc-
cessful. A final appeal to Attorney
General j. Lindsay Almond. Jr.,
in which he upheld the opinion of
the State Banking Commission at
torneys, against the proposal, has
now been received, putting an air
of finality to the matter
Parties to the proposed merger
have expressed surprise at the
final ruling since original nego-
tiations were started only after
preliminary approval by the State
Banking Commissioner. according
to J. H. Spessard, president Of the
Dillwyn bank
States Opinion
The Banking Commission rul-
ing upheld by the Attorney Gen.
eral, holds that the merger would
not be legal because Charlottes-
Vile, as a legislatively and juris-
dictionally independent city of
the first class. is not in Albemarle
county
BY Virginia statute. merging
banks should be no distance
greater apart than 25 miles or
must be in contiguous. that is,
adjoining counties. The final
opinion holds that Charlottesville
cannot be considered within the
county, since it is an entity in it
self
Mr. Spessard expressed addi-
tional surprise at the ruling since
he claims knowledge Of cases of
oiiAIiidl lIdttilt ~ NAllCil illtl Btl .
have been approved. mo subse-
quent mention has been made of
the earlier sanction. either, he
states.
Attorneys Opinion
Attorneys for the two banks, in
Guiding John S Battle, r j..
Niche. John B. Boatwright and
A. L. Pitts Jr., cited opinions Of
the Supreme Court of Appeals Of
Virginia, which. in their opinion.
give legal ground for the belief
that a city is within the county
surrounding it.
Mr.. SpesSard expresses h c
opinion that up until the present
case this last view was used to APP
prove other mergers. He said the
final ruling has meant consider
able embarrassment to the bank
and that the plan of merger has
excited quite lot of political OPP
position.
He believes that the move would
have been a boost to the economy
of the entire region, and that st
would have made available the
services of a competent Trust De
partment, which is urgently need
ed in our county"
To Be Independent
He said the bank will continue
its detectives as an independent
bank. and will endeavor to render
the best possible banking service
to large and small customers we
are stronger now than at any time
in so years We face the next half
century with confidence
The bank. he said. will continue
a program Of modernization Of the
banking house at Dillwyn.
The Attorney General in his
opinions cited the unsuccessful
attempt of Delegate Boatwright to
have a bill passed in the last Gen
eral Assembly. 1t was presented
specifically to meet the situation
under discussion he wrote the
bank attorneys. This is a mani
festation of legislative intention
and construction in harmony with
the construction placed" by his
Continued on Page 81