Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1838-05-09
will be duly reported to the proper authori.

The commissioners have deemed il an
object of the highest Importance, to see that
in all instances ample securitiesiwcre given |
bv the directors and stockholders for the |
final discharge of the liabilities s. the sew
eral institutions. Tho securities by bonds
and mortgages Of unincumbsred real es.
tate, required by the sixth section Of the a.
mendment to the general banking law, are
in some instances already perfected, in |
others, they are now in preparation.
In this first examination, many things
were exhibited in the transactions and con-
dition of Institutions, requiring change and
correction; and it has been the intention |
of the commissioners to have every insttu-
tan under their control. put into proper
and safe condition, which will ensure pub
lie confidence. The annexed statements
and exhibits will present some instances
where such changes have been required,
and have since been made.
A second visit to these institutions, which
will be made without delay, will enable
more explicit exposition Of facts, and a
moro complete exhibit to the public of their
true condition.
In the examination, the following banks
were found in such condition, and their
transactions in relation to the provisions Of
law under which they were established, of
such a character that it was necessary to
apply to the Chancellor of the state for pro-
ceedings against them, agreeably to the
statute. Injunctons have been accordingly
issued against the following banks, viz:
e ~
at Flint.
The Jackson county Bank, at Jackson
burg.
The Farmers Bank Of Sandstone, at
Barry.
The Exchange Bank, at Shiawassee.
The Bank Of Lapeer, at Lapeer.
The Wayne county Bank, at Plymouth.
A detailed report Of the examination of
the Farmers Bank of Genesee county is
already m possession Of your honorable
body. The facts connected with the re-
mainder of the above named institutions,
against which proceedings have common
ced, will now be detailed for the more
full explanation of which, copies OF vari-
Gus papers relative thereto, are hereunto
annexed. The occasion is here taken 10
remark, that the investigations in some in
stances are no. yet completed, but will be
pursued, until all the facts are fully dsvelo.
ped for the information of the public.
On the 22d day of February last, the
undersigned, together with their associate,
Thomas Fitzgerald, Esq, visited the Jack
son county Bank, located at Jacksonburg.
The President and Cashier were absent
the bank was in charge Of Charles Van
Dorm, who had been appointed teller tenn
porariy. The teller presented to the com.
missioners, letter from Paul b. Ring, the
president, addressed TO two of the dlrec-
tors, which expressed the hope that the
Commissioners would not insist upon al
examination at present, for the reason thai
in the absence of the writer, satisfactory
f information Of the state Of the bank could
not be afforded them. The commission.
ers, however, having expressed their nten.
ton to proceed Immediately to the exomi.
nation. the teller expressed his willingness
{ to exhibit the books and papers, and atiorc
such information as was in his possession
i. Search being made for the stock book, j
could not be found, the teller presumed i
to be in the trunk Of the cashier, to which
G no had not access.
/. On examination of the books Of the bank
# the following circumstances were exhibited
;. the names of all persons and corporation
J. with whom accounts had been opened. wer
!. written in pencil-the entries in ink. In
# few minutes, therefore, the whole face Q
!. the business transactions Of the bank cou
n have at any time been entirely changed
q On the 9th of November, 1887, there ap
;. peared to have been an entry Of specie de
D. posite Of $4,000 in the Farmers and Me
chanics' Bank of Detroit. This entry ha
ST been erased with knife, but on careft
4. examination the original entry was legible
! There was also an entry of specie Gel
d, tficate from II. II. Brown IL Co., Detroi
\. for $4,000. The date of this tn'ry ha
IF been also the 9th November. This ha
\. been erased and new date su bstituted.-
k The language of the entry had also bee
s. altered, but being written over, the origin
TX words could not be traced. This certif
" cate of deposte was not to be found, ar
was presumed to be in the hands Of the a
p sent cashier. The teller and Mr.. Fitc
re one of the stockholders who was prcsel
te during this examination, were of opinic
n. that certificate was the first insta.ment
specie paid ia.
ne Tho commissioners proceeded 10 an e.
x. animation of the specie Of tho bank. 90
e. coin was exhibited loose in drawe
he which being counted, amounted TO the s'l
g. of thousand and thirty seven dollars at
no seventy EIGHT cents about $I2O i'll loo
Is. silver. was also counted. Beneath Il
If. counter of the bank, nine boxes were por
he ed out by the teller, as containing one tho
he sand dollars each. The teller selected OIL
ey of these b:xes and opened il, this was e
lin amined and appeared TO be full Of Amer
in. can half dollars. Ono Of the commssio
Is. ers then selected box, which he open
We and found tho same to contain super
mt cics only Of silver, while the only renal
he ing portion consisted Of lead and ten pen
tn. nails. The commissioners then proceed
TO to open the remaining seven boxes I'll
nat presented the same contents precisely, W
be single exception, in which The substrat'
lis. was window glass broken into small piec
NIX The teller, as well as A. + Fitch, the stst
me holder above mentioned, disclaimcd
will knowledge Of the transaction. How, tn
the or by whom this fraud had been perpet
,di. ted, they could not tell. The teller sta
r. .L..s .he hovoo boi heen in the bank