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DEPOSITORS RECEIVING Newport News Nailonal Bar* Is Uquldallng an1 Nil Go Out ol Business OFFICERS TAlK WITH CO?FI?EHIE -Vlcc-Presldent A. L. Powell CRlr, f*i:\ surance That Deposltoro Will Not) Lose a Dollar?Result of CoivJb "na? tion of Unusual Circumstances?^Md| From Other Danks. f' Forced by uutiminl and unforeseen Circumstances to resort to extreme measures for the protection of deposl? toro and creditors, the Newport N< "vs National bank began liquidating tcrdny morning at II o'clock. No de Vnslts were received during the day, and throughout hanking hours tho paying teller and his assistants wen busily engaged In honoring chocks, using cash and ccrtlllcatcH of deposits which wer?- accepted as cash by three of tho other banks of the city. The directors of the Institution pro post- u> close out and suspend busi? ness, and their dcclrlon will bo passed upon formally by tho stockholders this Afternoon. Vice-president, A. L. Powell und other olllclals of the Pan., uro authority for postlvu assurance that the depositors will not lose one <' itt; that all of the Instltul.on'u ?.i Qehtnosq will be liquidated, find Utah even the stockholders may not Buffer iQsa. Situation Well Handled. Cure In handling the situation pre? vented the occuronco ol neeiies usual ly Incident to a run upon a hanking house. Although the day wait a hard one for those lu the hank, It passed off quietly and without a single disa? greeable scene. For several weeks vague rumors to tho effect that the Newport News National was "shaky" have been afloat, and Saturday afternoon the reports became bo insistent that It wan ap? parent that a run was Inevitable. Other Banks Called Upon. ' Realizing that tho institution was in no condition to stund a run, tho of Heers appealed to other banks for ns BtaUnco. Ajnoptliij; of re presentn: s^SJ-V?J^:?^.. oV'f.mr b?!?Jt?Lfl> P''d tin. HI the Hinnll hours or Sunmty mom ' lug. Sunday night the confrronce was continued, and early Monday morning tin agreemont by which the affairs of the hank could he l.qif.tiatotl was readied. it was ngroid that the Newport News National should Issuo oerllflcnfos of deposits In lieu of cash, and that these certificates should be accepted as cash by Schmelz. Pros., the First National and Citizens & Marine batiks. A Joint note was given by ofllclnls of ilia Newport News National for the amount of the Certificates, and Schmelz llroa., the Citizens & Mnrtne anil First National tanks, of this city; the .National Dank of Commerce, of Not folk, anil the Union Savings Ham;, or Washing .ton, agreed to assume responsibility "for the certificated thus secured and ? Issued. Speech to Depositors. At 0 o'clock yesterday morning the bank, was opened, nnd soon aftorwaid tliij depositors began to flot-k In. Mr. O. D. Datcliolor, a largo stockholder tV8r. Editor: Whut if the ubo to ad? vertise unltw people t?ko time to road your ndw i We have large of? fice Calendars to give away, small banks free to de? positors. Advice on value of Real lOstatc, what Fire Insurance Companies to insure in and many other t h/ngri, free of charge. Powell Trust Co. 2711 Washington Avenue,. nnd it director of the hunk, made a brief speech to the people, assuring them that flub' had m> cause For alarm; that their money was perfectly safe, ami that the only persona with a reason to be disturbed, were the stock? holders. It Is said that something like 120,000 was drawn from the hank during the day, and practically all of this was at once deposited in other banks. There was no general financial scare, and the other hanks continued busi? ness ns usual. This afternoon's meeting of the directors will decide dually wholhor or not the Newport News National Is to go out of business'. The directors have decided to liquidate, and olpsO out business, hut this Is to be passed upon by the stockholders. Vice-President Powell TalkiV Mr. B. Qulnry Smith, of Washing' ton, who Is president of the hank, was out of. the cjlj^yesterday apd will .not retmh until today, Vice president A. \j. Powell Was approached l.v a rep? resentative of The Dally Press, and he discussed iho ?Unation freoly. any lug: "Bach depositor will got every dol? lar be bun In tin- bank, and, unless the unforseen OCCUftt, there will bo enough left In prevent loss on the part of the stockholders. "Mr. Smith went t,i Washington on business Sunday afternoon. Lit I lie will return tomorrow In time to at? tend the regular annual meeting of th stockholders at :i o'clock. "At this mooting the action of iho directors In dealing with this situation t will he passed upon, und then u more Complete statement can be given to the public. Caii6e for Condition. "The condition of the bank was brought about by n combination of un? fortunate circumstances. During the pnsl few mouths, fur pome lea-ton not known at the time, many of our largest depositors have been withdraw* lng their active and savings account!.. I and this, coupled with the lightness of tho money market, which made It | difficult to realize even upon the best of securities, naturally drained our immediate resources, and finally brought on a crisis. "Since Ibe steady withdrawal of de? posits began, wo have learned that ibis thing was started by Idle, or ma? licious talk, which once set alluat, could not be checked," Receivers Paying Today. "Tomorrow nt the usual hour the lank will open and Ibe paying of check accounts will be resumed. This will be continued until the last de? positor has received Iiis money. If be desires It. When the time limit on savings deposits expires, or perhaps sooner, these accounts will he settled in full, l am afraid that some ol our savings depositors, frlgntencd by panic talk, will begin soiling their ac? counts at a discount. This, I very much hope they will not do. Certainly llo one Is going to lose except the stockholders of the hank, and it is probable that even they will not lose. "The ptlt'Mc '"S.v be surprised to learh that today many of our custom? ers came In and paid notes which were not diu?, desiring to do what they could toward keeping the hank on its foot. Others Insisted upon placing deposits, which, under the circum? stances, wo deemed advisable not to receive." When questioned in regard to the connection botwoon the Powell Trust Company and the Newport News Nat? ional Hank, Mr. Powell said: "There Is no connection, other than that the Powell brothers hohl stuck In the New? port New? National, and that I am I vlccpresldent of the bank, without salary. Docs not Affect Coniprfily. "The conditions in which the New? port News National is placed does not Off eel Hie Powell Trust Company In the least. At the beginning or' the financial trouble in New Yoik. wo be? gan to fortify ourselves and today we are prepared to meet any emergency, though so far we have bail scarcely any withdrawals traceaMe lo tho events of the past few days." Mr. I'owell well! on to say that be believed the banks or Newport News were better supplied Wlih ready casn now than they bad been ror years, and that he was confident that the people ran no risk In placing their money hi any bank on the Virginia Peninsula. Has Done Good Work. "I nm gratified I? believing that the people have tlie kindliest reeling to? ward Ibe Newport News National Rank," said Mr. Powell. "Whether or not the bank continues In busi? ness permanently, I am confident that during the few years or its oxlstuiiee It has been of Incalcuablc benefit to '(lie* Ijl?lness men'mid public generally of our city." Hir.tory of Bank. The Newport News National bank was established live years ago, and soon gain d public favor. The cap? ital stock of the Institution Is $l"o, 1)00. and Its deposits when the hist statement was made amouiltod to over $250,000. The statement showed a surplus of $30.000. It Does the Business. Mr. E. K. Chamberlain, of Clinton, Maine, says of [lucklon's Arnica Salve. "It docs ih,. business: I have used It for chapped hands and It cured them. Applied It to an old sore and It healed It without leaving u scar behind." 25c. at all druggists. 1 During the long, dreary winter months mothers become tired, worn mtl. can't eat. sleep or work. Hollls I tor's Rocky Mountain Tea Is the greatest blessing for mothers. Makes thorn buppy and well. ;i5c. Tea or Tab? lets. J. C. GOR8UCH & cm. Barkers and Business Men Are Very Optimistic. QfPOSliS LARGER THAN USUAL Public is Assured by Substantial Ci. tlzeng That Liquidating by thc New port News National Bank Will Nc'( Shake Local Financial World. Hankers nnd prominent business men of the city yesterday expressed themselves as being greatly plcasoU with the manner In which the local public received and accepted the news Concerning the Newport News Nat? ional hank. The public generally did no| seem to be In the least alarmed over the city's financial condition, and the hanks report an unusually large day's business. Mr. Schmelz's Statement. " Mr. Genrgo A. Schmelz, president of Schmelz Bros., hank, said to n Dally Press representative: "As far as the financial condition of Newport News Is concerned, I regard II as hot., tor today than P has been. The ban its thai are doing business are. in my judgment. In especially go'.'d condition. Dor deposits today were largor linn ever hi fora, In addition 1 ) the business transferred to us from the Newport News National. There is no reason why the liquidating ?'f this latter bank should cause any fear en I the part of the people.* Most of tue certificates of deposit brought to us today from the Newport News Nat? ional were deposited with us, the ni'nt Iber of people asking for cash being very much In the minority. The amount of currency brought in win much larger r|,an usual." Mr. W. D. ?C8t, cashier of the rill zeus &. Marita Rank, expressed him? self as bein? well satisfied with finan? cial conditions, ami said that he did not brrflOVe the Newport News Nat? ional trouble! would have a i uneral bad effect ir4i the ell v. Mr. ,1. A. \Vfllctt, cnshlor of the Frst National Hank, could not he reached last night. IiH It Is a well known fact that the. First National is In a flourishing condition and always shows a steady Increase In business. Other bankers nnd numerous well known and Bcbstantlal business men expressed ttr.ftisetvcs freely upon the subject, and (ueryone seem?, confident that the bus) _'ss conditions in New? port News aiV'all that they should be. ABANDON ALL HOPE FOR SHIP ARTHUR SEWALL Bifj Sailing Craft and Crew of 27 Men Believed to Have Been Lost. All hope for the f"ll rigged clipper ship Arthur Sewall and her skipper A Cure for MiGery. "I have found a cure for the misery malaria poison produces," says R. M .lames, of Lo?cllch, S. C "It's called ? Kloctrle Bitters, and conies In Hi* cent bottles, It breaks up n case of chills or a bilious attack in almost in time: and It puts yellow jaundice clean out of commission." This great tonic medicine and blood purifier gives quick relief In nil st'mach, liver and kidney complaints and tue misery of lame bnek. Sold under guarantee at all druggists. Eat for contentment. , Eat for good nature. Both are the result of physical health. The most nutritious food made from flour is Uneeda Biscuit Every bite a mouthful of energy. gBBffa In dust and moisture proof packages. NATIONAL BISCUIT COMPANY nnd crew or 27 m)on lias boon aban-1 dotted by nil concerned. The ship lefi Philadelphia on April 1, 1907. for Seattle wUb n cat go of bituminous coal f:ir Hie United States navy. AI- | though nioro tlinu nine months have . I'liSRCd not a word lias been hoard rroni either vessel or crew since tlu' pilot left the craft at the Delaware I St eal, wafer. Borne months ago a report came from Randy Point. Strait of Mngol \ rn unknown four masted chip had foundered near that placo aim it was thought that the vessel was tl\t Scwall. Later, liowever, the craft was recognised as another craft. Capfaln Gaffney, who com? manded Hi' SeWallj was a master mariner of the old school and wna widely known in shipping circles on tile Atlantic coasts. He had made many trips to all parts of the globe. The marine underwriters have made evoty effort to get some word from the vessel, but without success. The general /bleu is that she caught Uro from spontaneous combustion in her cargo and was destroyed at sen. REV. T. RYLAND SANFORD hSSOCIATION PRESIDENT Hampton Minister Chosen Head of Baptist Ministers' Association for Coming Year. At the meeting of the Peninsula Baptist Ministers' Association yester? day morning officers for llto year were elected and reports of the work on Hal anything you want, don't starve yourself, fearing it won't agree, for Hollister's Rocky Mountain Tea clean -, the bowels and stomach, and makes digestion easy, 35c, Tea or Tablets. ,i. C. oonscCH & co. apital Dry Goods House Washington Avenue at Thirtieth Streit, White Sale Bargains an Blankets. 10-4 Biz-) line White Wcol Mixed, worlli $3.50, at $'2.98 pair. 10-4 Hize All-Wool Whiti Blankets, very line aud heavy weight, regular 65.00 Blankets, at $4.50 pair. Good Quality Bed Comforts at the peninsula were heard. Tho of- J tist elmrch, Newport News. Crescent Bleached Sheets, size 72x90, 50c fleers chorhn follow: President?Rev. T. Ryland Sanfp'rd, pastor Memorial Baptist church, Hampton. Vice president?Rev. J. W. Por ior, 1). 1)., pastor Newport News llap Sccrctary?Rev. W. c. Sale, New? port News. Recording secretary?Rev. K. Pen dleton Jones. 1). 1)., pastor Hampton Baptist Church. Hampton. The association decided to hold Its meetings for the coming three months In Hampton. -ORGANIZED 1891 The Following Well Known Business SVSen, Sis Directors, Give Their Personal Attention to Ml the Affairs of the Banks J. M. CtirSis, Treasurvr of the City of Newport News; A. G. Garrelt, AttornfyatLaw; E. T. Ivy, Capitalist; D. S. Jones, Vice-President; A. B. MallcS!, of Old Dominiou Steamnhip Company; E. W. MUstead, Sergeant of the City of .Newport News; E. Parker, 8uperi tendeiit Terminals 0. & Q. Rlilway System; Ellas Peyser, Merchant; Edwin Phillips, of Benson, Phillips & Co ; L. P. Stearnes, Coal Contractor 0. & ?. Railway Company; W. B. Vest, Cashier; George B. West, President. _?