Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1838-03-01


Adums Bailey $500
John IIenshaw, ,Honshuw, Ward s, Co. l29, lS3
Samuel 5. Lewis $1,000
WIN. Freeman, Freeman g. Fisk "a, 1856
S936,28l
The above all appear to have been Dircc
tors Of the Bank.
Warren Association S263,424
Commonwealth Insurance SC. $500
New England Crown Glass Co. l23,459
Boston Wharf Co. 34,l7l
Mount Washington Association 1900
William Parmenter 1898
John X. Simpson, Jr. 1860
II William Hancock u Co. 55,335
The report sums up the liabilities Of the
debtors, as follows
TOTAL on Memorandum
Checks, 1886, ,479 O0--Over Drafts,
Si94 Sod IL \ otes discounted as Prom
sors, S884,751 27-Notes discounted
for them as Endorsers, $50, 1853 So
Liabilities as EndOrsers in addition,
S262 ,S99 74-To,al Liabilities, 81 $40,
O34 49,.
The securities for Simpsons debt arc
22l shares Commonwealth Insurance
Co; III do. Commonwealth Bank 5
n. f. Crown Glass 4; 81 Merrimack
County Bank, Mitchell Lincoln ends't
for S3l 900, Jos. Bradley, $1,000 As
shares Merrimack River Transportation
Co.
The securities for Howe's debt are
Real Estate attached for about S34 900,
endsis by How s. Jones, II. }. How,
Eben. Jones s. Co, G. w. How s. Co.,
various amounts; A. Little, $4,000; John
Henshaw, $4,000; shares in the
Commonwealth Insurance Co, 90 shares
in the Methuen Factory, 1915 shares in
the Boston Wharf Company, SO shares
in the Mount W ashington Association,
and 81 shares in the Warren Association.
The securities for Hoods debt are 80
shares Commonwcal alth insurance Office,
so shares Warren Association and o.
Rich endst. $4,000, and 40 shares Com
monwea,h Bank.
Securities for Rich's debt-Mortgnge
| 81, ,426 70, and G.. Hood, endst. for So
I793 63.
Security for Fletcher's debt-John
Iienshaw, endorser.
Security for Bailey's debt-50 shares
Commonw ealth Bank, and 80 do. Com
monweallh Insurance Office. Securities
for John Henshaw and Uenshaw s.
Ward-23 shares Commonwe ealth Bank
ID. Henshaw, $4,000; G. Henshaw,
$40, 900; d. s. o. Henshaw, S2I 400 i
Z. Henshaw, and How s. Jones, $500,
and S. S. Lewis, $4,000.
Securities for Lewis debt-l5 Com
monweaIth Insurance Shares J. Hen
shaw end.t. for $4,000.
Security for Commonwealth lns. Co.
500 shares Commonw ealth Bank.
Security for J. X. Simpson, jr's. debt
J. X. Simpson Sll 800; ID. z. Simpson
5000.
Security for Hancock s. Co.,-John
X. Simpsons guarantee and endorse
ments $50 ,534.
For the large amount-more than the
entire capital Of the bank-of me emoran-
dunn checks and over drafts there is, Of
course no security and for the legiti-
mate loan Of the bank upwards Of S ] co.
600 is in the stock Of the Commonw allh
Bank and lns. Office.
Hall J. How, is one of The propretors
in the Warren Association.
The report of the committee concludes
as follows -
After the examinat into the doings
of the Commonwealth Bank, in conse-
quence its suspension, many enquiries
may be made as to the eventual ability
Of the Bank to provide for its engage
ments and to make dividend among its
Stockholders But upon this subject
the Committee are bound to speak with
hesitation, as well from their imperfect
knowledge Of the value of most Of the
assets, as from the pecuniary difficulties
of the present day nor is j, under any
circumstances an enviable Office, TO put
an estimate upon the actual credits oi
individuals, where doubt exist Of their
Nsolyency. 1t il to be observed that the
loans Of the Bank are accumulated in
masses-its notes are accommodation pa
! per-extended at the pleasure Of the
borrowers. The Committee are Of the
opinion, however, that if judicious per-
sons are entrusted with the assets of the
bank, and with full power to wind up its
affairs, either sooner or later, as they
Judge best, creditors may calculate OIL
receiving IS per cent Of their debts
But the resources of the Bank are Of
such a nature, that the bill holders who
are not debtors to the bank cannot ex-
pect immediate payment, and eonse-
quently If the bills are thrown into the