Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1838-05-16
mo. ~
Goodrich, March IA, 1888.

Aaron Goodrich, director and stock
holder formerly Of the Bank of Lapeer, be-
ing duly sworn according 10 law, deposes
and says that no was ono of the original
subscribers to the stock of said bank that
he to the best of his recollection was sub.
scriber to the amount Of one hundred shares
which was reduced in the distribution oil
said stock to the number of seventy six, as
he thinks; that he was present at the pay.
ment Of the first ten per cent, but that his
own ins.', 'ment was paid in as he believes,
having requested another to do so for him.
That he was not present when the appoint.
ment of directors was made, but was pres.
ent at meeting of the directors within
few days afterwards, when he wac inform.
ed that he had been chosen one of the d.
rectors. At that meeting, Norman David.
son, ESQ.,, was elected President and Al.
vim N. Hart was elected cashier. That he
does not know whether the thirty per cent.
required by law, previous to going into OPP
GRAFTON was or was not paid in that he was
present four times or more at subsequent
meetings of the board Of directors that du.
ring the sttings of the board at which he
was present, notes were laid before the
board for discount. Exchanges 10 small
amount were made, but to what amount he
does not know. When at the bank, on
one occasion, he was given 10 understand
by the President, cashier, and B. +. Towne,
one of the directors present, that he was to
consider himself as agent for the exchange
of the bills of the Bank of Lapeer.
| for other funds. That there came
into his hands at different times, as agent
for exchanges and loans 10 himself, exceed.
ing the sum Of thirty thousand dollars. That
he made exchanges 10 small amount and
passed over a portion which he received
for exchange purposes, to b. F. Towne,
one Of the directors, who was better able
to leave home for such purposes than him.
SELF AT one time he passed over TO him
bills of said bank to The amount Of sixteen
thousand dollars. He has receipts from
Benz. f. Towne, for the purposes of ex
change, and he thinks he has evidences Of
receipts from him to greater amount, pro
badly to the amount in the whole Of nearly
twenty thousand dollars. That he drew ou
the sums he received for exchanges OF
checks. He thinks that when he paid into
the banks exchange funds, he received the
like amount from tho bank in its own bills
and that the exchange funds paid in, die
not materially affect the sums drawn out by
him of the bills of said bank, on the checks
aforesaid. That he thinks, beside the sun
above stated, handed over to B. f. Towne
the bank has his note for five thousand dol
lars. Il has also other evidences of deb
| from him TO cover the remainder of the
sums which came into my hands, either a.
agent or on loans. That about the time
the bank went into operation, he heard the
cashier say he acknowledged the receipt
Of fifteen thousand dollars paid in that he
thinks he saw four or five thousand dollars
in gold, about the time of the subscribing
Of the stock as near as he could Judge, mo-
having counted it, which he presumes was
the specie paid in on the subscription ofthe
first ten per cent. of the stock of said bank
| That no does no; know if the specie was
subsequently Withdrawn by the stakeholder.
or not. That at or abolt the time of the
paying in of the thirty per cent on the. cap
ital stock, he did not pay in any gold OF
silver on his stock but that he handed to thu
cashier about that time specie certificate
from one Of the city Of Detroit banks, tc
the amount Of fifteen thousand dollars. -
This city bank was the Farmers e. Me
chanics' bank. The certificate Of depositt
was signed by John A Wclles, cashier, pay
able he thinks TO him. That the certificate
was cancelled by check, drawn by him or
said bank, Of tho said certificate of fifteer
thousand dollars. That the certificate ant
check were given and received on the same
day; that no specie in fact was deposited
in said bank by him on which the certifi
cate Of dcposite was given. That the spe
Gle certificate above mentioned was recciv
cd from the cashier Of the Lapeer bank b,
him; whether it has been re urned TO the
bank from which it was received in De
troit, he cannot say. That hc has sold hi.
stock in the Lapeer bank, and ceased to be
a director Of said institution, about the firs
part of the month Of January last. LA.
sold his stock TO Samuel J. Searls and II
u. Harris, and to d. s. Cady, the prcsen
cashier. He transferred his stock to then
without any specific compensation, excep
an understanding that he should have rca