Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1838-05-16
NUMBER "a.
mo. 3. \
NIVo' ..
Bank Of Lapeer, March Is, 1888.

Bank Of Lapeer, March Is, 1888.
The capital stock of this bank is fifv
thousand dollars. The books Of subscrin.
ton were opened on the 18th day Of Octo.
Der, A. ID. 1887. AT that time the whole
amount was subscribed, and on distribution
of the stock, the ten per cent. on the seve.
raj shares was paid in. in specie. Some of
thu subscribers did not pay in their full a.
mount, but others overpnid, so that The ten
per cent. on the whole stock was paid in.
This was paid in as the property of the
bank, but part was Withdrawn by the sub.
scribers and paid back 10 them. The bank
went int, operation on the sixth or eighth
day of December last, previous 10 which
time the full amount of thirty per cent. on
the capital stock was paid in; part ofthe
amount was in gold and silver, but the
greater part of il was in specie certificate,
issued by the Farmers and Mechanics
Bank Mt Detroit. There was but one spe-
Gle certificate, and the amount was applied
on different subscriptions of stock. The
certificate was obtained and brought for.
ward by Aaron Goodrich. This certificate
was in the bank several weeks and was a.
nally Withdrawn and taken away by said
Goodrich. The amount of the certificate
was fifteen thousand dollars. There was
at the time the bank went into operation
think. less than one thousand dollars. The
certificate was taken away by Goodrich,
on or about the twelfth or thirty. first day
of January. No entry of the certificate
on the books Of the bank now exhibited
was made but on snail book, the amount
OF checks drawn by said Goodrich was
made and entered, but | cannot saw that
any entry of the certificate was then made
by me. That book was handed over TO
The present cashier, ID. S. Cady, and have
not seen it since Mr.. Cady left Lapeer.--
| think no entry was made on the books,
and no paper or draft received from said
Goodrich when he received the certificate
of deposiie. Said Goodrich also n, differ.
ent times received on his own Individual
check the bills of the bank. TO the amour.
of forty thousand dollars or Whereabouts,
for whi;h nothug had been received by
the bank when left as cashier. He had,
however, small bill for ser, ices, &C., a.
galnst the bank, amounting perhaps to a
sum less than thousand dollar, as should
think. Said Goodrich was director, and
took the b lis for the purpose of exchange.
While cashier, bought some gold and sill.
yer which went into the bank; the amount
was small, cannot say how much.
was cashier from the commencement
of operations until the twelfth day of Feb.
ruary last, and Mr.. ID. S. Cady was ap.
pointed cashier. Mr.. Norman DAWSON
was appointed when it went into operation,
and sold his stock aud resigned on the first
day of February last. J. I. Benedict is
now President.
The issues Of the bank while was cash.
Ter, amounted TO sixty -four or sixty.fve
thousand dollars, including bills in the
hands of Aaron Goodrich and III. Ii.
Blown d Co. of Detroit, for exchange
The amount of discounted paper was TWEEN.
ty to twenty.one thousand do lars. None
of the issues were DESTROYED.
After the thirty per cent. was paid in,
there was an understanding that the stock.
holders might draw out on their own checks
TO the amount of their capital paid, in the
bills of the bank. Many of them did so,
and was afterwards directed by the direc.
tors to obtain for the advances to them,
their notes with endorsers. obtained
notes covering the amour. Of such adyan.
ces with security. These notes are part
of the discounted paper above mentioned.
left with II. II. Brown &c., twenty.
FIVE hundred dollars, for which was to
draw upon him, payable in country funds.
While cashier, drew for three hundred
and seventy five dollars, which was paid.
do not know of their paying any thing
more towards it; have drawn several
drafts since, none of which, so far as am
advised, are paid. at the time left the
bank as cashier, there were remaining in
the bank in sheets, bills of the bank, sign.
ed by Mr.. Davidson as president, and my.
self as cashier, 10 the amount Of about ten
thousand dollars or thereabout, according
to my best recollection, most of them were
not filled, other than by signing.
There were in the bank, returned from
circulation, about eight or nine hundred
dollars in bills of the bank. AT the time I
left the institution, The resources of the bank
were as follows, as near as can now as.
certain, VIZ:
Bills discounted, S2O,s93 90
specie, 1901 II
Cash in hands of II. II. Brown
g. Co.. 2,l25 90
Aaron Goodrich ION cheeky 10000 90
S64,2l9 ~
The liabilities of the bank were as fol.
| L.. 4