Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-02-23


When most their beauty charms
h~uehhe promise smooth and fair,
VOWS may he forgot
Although ne OF his love declare
Dear gal, yosds' BETTER NOT"
e IN -rs!iisSaaa-------
MEMORIAL OF GEORGE WILLIAMS.
RECflpED AND READ, FEB.l5 1919
To The Honorable The Horse Of Representatives. of
tie United Suites.
HE memorial Of George Williams respec.
'y sets torth Vhat having this day obtain
eua copy vt the DOCUMENTS reported by she
committee OF yaur House, appointed 60 eAa-
lnine INTO the proceedings of the Bank Of the
United States, ne deems IL prorer TO submit to
me House of Representatives, some explaua.
lions relative Ia his coht'u ct asa government
director. which has been the subject of ami
maaveTsihn ~ the report OF t,ls committees
The impntatiOns Charged against Your memo.
riahst sie iiTeetUid: FIRST that he SubscriLei
eleven handred ahdSeventy.wo shares ofs,ock
III as many names, as their attorney, tor the
purpose of uUduly influencing the election of
directors. Second: that lie was concerned in
the purchase OF one thousand shares for the
acconht OF MT. Jones, on which a considerable
pront WAS realized by that gentleman. in which
the committee seem 10 suppose there ras some
nnfairueSs. And, third :.tIiat your memorial
'St, while government. director had been
deeply concerned Ia the purchase of stock
qua in making and purchase of contracts for
the delivery ct stock. With regard TO the f..st
allegation, he obtained names and subscribed
one share each on them, for The sole object of
s'cnri'g considerable amount of this stock
entertaining very favorable opinion of The
Institution; bat in so doing he had not the
Tsmotest view 10 influence the election not
beins even candidate tor the Office of director
hhnseN. lie procured, also, eight hundred
shares 10 be snbScrioed for him in different
names, 80, ten and twenty shares each, in
Lexington and Cincinnati, with The same
ooJtct. Jhe whole of the eleven hundred and
seventy TWO shares were voted singly at the first
election, the transfer books not being at that
s.Ir..
names "a ihep voted, whe thor held by the real
proprietor or by proxy. The shares above
r reitried To, were subsequently consolidated
and were never, after the first election, voted
hs ~ "ebu IN snug names. They were oted not
by The meinorialist. but by the agents of the
Baitimnte stockholders, in common with other
shares heid there and, although these stock
holders hcid Que fourth Of the votes, willie those
OF New York held only one twelfth thereof il
Is decisive evidence that no undue influence
was ATTEMPTED u be exercised i'm behalf of the
baltimore interest, since only two directors
we're elected Into the first board from Bati-
more. and = IKE number from New York. In
noticing The second charge, your memorialist
AYERS that there is not the slightest degradation
for Iinpntng either 10 himself or 10 Mr. Jones,
ire late President, any unfair or Improper
MOVIES III that transaction. But he torbears
10 80 INTO astatementO Of its particular cjrcum-
Stances, IN as mach as that gentleman has
presented documents in his iustfiration 10 youI
Honse; establishing as, he trusts, conclusive.
!! us Innocent and honorable character.
IN reference 10 The third allie. alton. Your
mel FialIsi ac Snowledges that ba wing believed
that tbs Bank ofthe u. States being chartered
by Congress, would receive the countenance
ara be inyisoraied by the fostering protection
OF the government that il nossesxed ,reat
advantages, which j., its progress wouId he
continually developing aud becomip~ daily
mere evident; and Thai it wonId be prosperous
ahh productive, beyond any other monied
,Hsutnhon III HE country, he early made large
N r. I,,Nst
scription " by purchase; that alnostail he ever
obtained he continues to hold that in so doing
ne iIad not the most distant idea he was acting
lneynsIstentiy wilhlisdut asa public director,
o. that ne tranSgreSsed the bounds which, his
obligations IN that situation iIunospd nron bis
coId"ct. Nor did he imagine that in nropor-
ton as he increased his interest in the insiitn.
'0n.he thereby diminished his fidelity to il,
OF us concerns. He did not understand that
ms appointment implied any restraint OH his
accustomed commerce.; dealings, or that. i'm
Clothing himself with the office Of djrec ,or
he thereby abandoned his profession, or lost
the character eli merchant. Ills purchases
were made openly in the market, and his
engagements relative TO them fairly entered
into, aud honorably fulfilled.
our committee have appeared 70 suppose
that Sundry measures were adouIed by tEe
board ofdirectors, which, having bad the effect
20 aSe the price OF stock. were entered into
tor the purpose OF giving an artificial and
temporary enhancement TO these prices The
cieasnIes alluded TO are principally the resolu-
tons 10 pay dividends in England to loan TO
subscribers TO enable them TO nav the second
insthlment 10 loan on stock at par and sub.
sequently, to loan on stock at one hundred
and twenty-five dollars per share, with requir.
ing all additional name. Your meinOriaIist was
rot director at the time the two first of these
RESP atoms were passed, q not residing AT Phi
ladelpsia, * consequently seldom being pre-.
tenIat Tue sittings OF The board, lie was absent
~bsn the two last OF those measures were
adopted, so that he has no individual pariici.
pHlion "a any of those proceedings. Nor does
re fecOiiect evertO have advised or assisted TO
ihe payment aaiihe dividends on delina1emt
stock. He will, howe yer, take this occasion 10
observe. tiIdt I've eHteTtains Thorough cOnyic.
ton that all those measures we're entered ialo
90 PERI e good faith, ard with no sinister or
Interested views on Tie part Of The board of
directors and he does not dDubt. that, IL he
haH vote on all, or ANY OF those resolutions,
tbey wOuld have received lis full appreciation,
Whatever may now be thong htOf ilieir wisdom
or policy.
ia conclusion, your mcmofislist begs leave
breezy 10 notice tie remarks made by Tie
committee upon as examination before them.
lie stated 10 the committee his perfect Teadi.
ness 20 answer all enquiries winch REGARDED
his conduct asa public director, and eve. tu
disclose 60 thein the particulars Of all his
contracts and concerns Of every nature
seiatiNe TO bls purchase OF stock for their
ssusfictiOn but understanding that tie
statements fHrr'sbed. aud the resaiis obtained
IN their eunuireS, wOnid be printed aud
pabiishod, he declined exhibiting for public
in4peffiop hieprivate transactions, they having
4gi The least cnuneaiOn with his proceedings
az cuirr~ier as director Of the bank. Aud,
,c.r rlemotlalisi ackuoe dyes thai be made
go explanations before Gle commtte. IN e<tc-
nudii0D Dr ttudlnatian ~ lis conduct, a. "
appears by ihc icport he had ihe Opportunity
gwen hin, o. dr. beth Decagse be did not then
uderst.Uld. 10 The bestof bis present Tcc0llec
tiOu, t,at sc was exported nr invited 40 make