Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-07-02

was returned in short time, say so or 60
days, and few weeks after the first, the Sc
cona knsn was obtained. This latter was not
repaid, when left the bank, which was,
think, in 1891. When came into the otic.
of cashier,l found little specie, and very
small amount OF current money, and about
10000 of notes in circulation. Il reduced
Them, before left, to less than s 7OOO.) Til.
second loan, Of 8 90 900, was, as l understand,
subsequently, paid, or secured to be paid,
through the Bank uf Alexandria, but when
left the bank, the two loans mentioned by Mr.
Sanderson, and the second, mentioned by me,
remained unpaid. This last was received in
Treasury drafts ON Carolina and Virginia |
went To Raleigh, in North Carolina, and ex-
changed the draft for Virginia paper The
Halcigh bank then paid specie, and was will
ing soto pay these drafts, bnt did not wish
| to take away The specie. The first S 10000
| were obtained to enable the bank TO pay size.
Gle, but this being found Insufficient, the Sc
cond loan was obtained. The bank paid some
al lis notes as il was able, and as fast as thu.
notes were paid, they were witlldrawn-bu,
many notes were not paid when presented
did understand from the Secretary of the
treasury, that the loans were obtained in or-
der to enable the bank TO wind up its affairs
repayment, and being tsld by me that the
bank was unable to do il, he insisted upon
interest being allowed on the loan, which wa.
agreed TO by the bank. | do not recollect
when this agreement for interest was made
mol, however, before the money had remained
que tor year. Nor do | remember from
wnat date the interest was to be calculated
Inc present statement / make from memory.
mereiy-not having had access to the books
OF the bank for several years
JACOB MORGAN.
'dugusf'''s 'Ve,rton, stcorm, at the request Of Mr.
EdiVards
/ was Cashier of the Franklin Rank. and
became so in March, 1891. There is credit
on the books Of the bank to the Treasurer of
the United States, for s $4,000. The money
was obtained before went into Office. Mr..
| Crawford was once at the bank while WAS
Cashier, say in August, 1891, applying to have
tue money either paid or secured at which
time the bank agreed TO transfer to him all ia
property, as security, and that this loan was
the FIRST debt 10 be paid. The charter of the
Dank expired on the lst Jan. 1822-but |
nave The books IN my possession.
Inc discounted notes were first to be re-
sorted to, and il these pro, ed insufficient, re-
sort was TO be had to stock notes. A small
.netes are now In suit, by Mr.. Swan. district
attorney. The stock notes are notes given bv
stockholders for stock, for the payment of
winch stock lspledsed AS security. / know
oi no reason for the agreement that one class
OF not'5was first To be sued for unless il NAV
nave been the convenience Of the debtors on
The stock notes. All the real property was
also transferred. 1t consisted of few houses
taken for debts
mn
The agreement was accepted by MIR. Craw-
ioru, before the expiration Of the charter, and
sent 10 Mr. swan TO have regular convey
ahce drawn up. That conveyance was not
contaminated till after the charter had expir-
ed, say in October, 1892. Many of the notes
assigned were under protest, and some of them
IN SUIT. Notes, including stuck notes, to the
amount OF $4,000. and real estate TO the
amount OF 5000, were offered to be transfer
red. but Mr.. Crawford did not at that time
accept oil the offer, because it did not extend
10 the payment of Interest but after wards
the interest being stipulated for, the agreement
was accepted, and the transfer made in Octo-
Der, l8s2, AS have above stated. The stock
notes are still IN my possession. They have
never been endorsed 10 the government by
any 0ne Ii suits can be sustained, there will
be ample funds to repay the loan.
When L went into the Office of cashier.
been made by Congress for continuing the
charter of the bank for five years beyond the
time originally limited for its expiration. Il
continued under that impression for a long
time, and believe the directors were under
tn" same impression.
9th June, 1874. AUG. NEWTON.
1ir. .te,cton again called, I1Oih June)
The transfer above referred to-, from the
bank 10 the United States, was made on the
Sd October, 1892
The terms of the agreement were finally
arranged and assented TO by the parties, on
the 9th Dec. 1921. A. NEWTON.
Charles 4. Chapman, St0orn, at the request of
Mr.. Ed,cards
was Cashier of the Union Bank of Alex
andrla. In June 1919, owing to the heavy
pressures upon the Bank, and considering
dlsadvantageous loan had been made by the
Bank TO the Government, and believing as /
then did and do DOW, that unless some tempo
rary relief could he obtained at the moment
serious incoDv enieDce would have resulted to
;he institution, under such circumstances a
committee was appointed to solicit from the
Hon. VIM. II. Craw ford. Secretary of the
treasury, temporary aid hich he was
pleased To grant, under the condition that the
amount should be refunded, when demanded.
The sum received from the Treasury was
$4,000, IN June 1919, and having received
Information that it must be refunded iD Janu-
airy 1920, part was paid in the latter month,
and the balance in February of the came
year; and although the funds we received
from the Treasury, were not, nor could have
rlh md. -.