The enquirer. [volume] (Richmond, Va.) 1804-1815, 1809-09-19

mited by law in such cases. The second
lcause is the frequent allowance of pr. mi
,ums tor the redemption OF their bills as
they have been presented for payment
his practice they have long pursued, and
although at first, when the Instances were
not so frequent as of late. it was not attended
with amy considerable Inconvenience, vet a,
length they became alarmed at the conse
Iquences, and saw that to persist in the prac
tice longer, would not only exhaust their CA
pital stock, but repder them unable to re-
deem their bills Therefore as tnev had not
ON hand the means to pay oifail their bills as
they were presented, they agreed that it
was incumbent on them TO refuse payment
to any at present with view 10 an equal and
! impartial payment of all. as soon as they
could avail themselves OF thenece iSary means
But they receive their bills in discharge of
debts due to them and have redeemed, "a large
| amount of them in this way since they stopped
direct payment Another difficulty which
| presses hard upon them. is that since their
embarrassments vast Number of suits have
! been commenced against them as Corpo-
ration upon single bills, the costs upon all of
which, If they should be prosecuted, would
amount to 4 sum which it would be difficult
if possible fer them to pay and do instice to
their other creditors. Suits have also been
Instituted by creditors in large sums against
the President and directors, in their person
al capacity, & their privarees,ates have been
attached thereon, upon the ground that they
have exceeded the right granted by their
charter in the amount OF the bills which they
have issued. 1t does not appear that the
members OF the corporation have embezzleI
any OF the Common property, or that they
nave made dividends unreasonable large
heir last dividend was on the first tlay of
July last, and was at the rate Of per cent
per annum Upon the whole although the
President and Directors have been very pre-
sumptuous and indiscreet there does not
seem to be any evidence that thcv ever en-
ter'ained design to defraud the pubick, but
as far as can be inferred from their Ian
guage and conduct at this time, they are de
srous TO do equal justice to all as far as they
are able. For this purpose they are about
| TO propose TO their creditors, aftcr aokncw-
Lodging demand for the payment of their
bulls, 50 that they may pay interest, that if he
plaintiffs in the suitson single bills can be per
suaded not to pursre them, thev will give
all their creditors present security for th.
eventual payment OF two thirds Of their re-
spective demands including what they NAV
be able to pay forthwith, npou condition that
their creditors will put the bills which they
hold out of circulation, by deposting them
IN the hands of some trustees or Bank for
one year. At the end of which term if the
bills should remain unpaid, which there is
great probability will prove 20 be the case.
the creditors will be 1T lihcrt, to pursue any
remedy III their power. Ii the corporation
should at the same time exhibit such state
ment or abstract of their affairs as would
show these terms to be the best il, their pow
err perhaps their creditors would think pro-
per to accept them
TIMOTHY BIGELOW.
September ! 1909
WATERFORD, Sept. S.
Extract IF a letter from Mr. abraham
Bus TO his father llr. James Bus, Of
This Village ,7vritten ar 81. IHukoea, France,
Jnne 10, 1909, and recciUed Gy The Men
Z" This last winter I was obliged to enter
on board of privateer for my living, as the
ship in which | came to France was con
demned and the crew turned ashore without
money or friends ; and expect to do the
same the winter coming. assure YOU thai
the Americans are rascally imposed upon in
this country since the embargo in America
and our ccnsals Will not look into the grie.
vances OF American citizens ;-therefore we
are treated more like saves than respected
as sons ~ liberty; but, as soon as I can pc.
dismissed. aud hnd an opportunity to return
home, ! shall improve it,
- AS 1T is nor permitted to speak or write
OF politics III this country, ! must stop. b.
hoping that my friends in America viii pu.
proper price on that Jewel LIBERTY,
which is known only in our country and
should any foreign power attempt to rob vs.
OF that treasure, may their hands be strong.
aud their hearts sincere, IN defending that
Ill which alone happiness Cons sts."