The Rodney telegraph. (Rodney, Miss.) 1838-1840, 1840-01-28


hank, which agreement with the bank, was
in fact made before the resolution OF me
board Of the 4th December, to transfer bills
receivable.
Qwesfion 5. Have you not had some un-
lerstaading with the Agricultural BANK, to
collect or arrange $40, 900 with the Com
merc;al Bank Of Vicksburg for the Agricul-
e,,r.l Bsnk-protested checks ofthe former,
~ which you were to receive FIVE per cent
- mmission from the latterf
Anssccy. lhave had no understanding with
the Agricultural Bank to collect or arrange
&l7O.OOO with the Commercial Bank Of
Vicksburg, Of protested checks of the latter.
There is among the paper transferred to me
as collateral security, $lOO,226 66 cents,
Of certificates Of deposte Of the Commercial
and Rail Road Bank Of v,cksburg. This is
the only matter Of which have any knowl-
edge, in which the Agricultural Bank has
any concern with the Commercial and Rail
Road Bsnk, and only know this as have
stated.
Question 6. Did you take bills receivable
Of the Agricultural Bank, ON account OF, and
BY authority of the Government, as payment
or as collateral security of the Agricultural
Bankf
Amsuer. have not received, nor do |
Intend to receive, any bills receivable from
the Agricultural Bank, as payment or as any
part payment Of their debt to the U States,
but only as collateral security for that debt.
The remaining part Of this question as to
whether l have authority from the govern
ment, refuse to answer, because think
the commissioner has no right to ask me the
question.
Question r. Has the execution ever issued
against the Agricultural Bank?
Anstcer. It has not to my knowledge.
Question 8. Was it either expressed or
understood in your agreement with the Ag-
ors Of that institution in the Federal Court,
on the bills receivable transferred to you
ms collateral security for the debts duo to
the federal government
Ans,rer. Nothing is expressed in my a.
preement with the bank on this subject
The agreement, as before stated, is in wri-
ting, and have no agreement with them on
this subject which is not in writing. deem
it proper, however, to state, in answer to
this question, that informed the bank that
il the notes transferred were sued upon, the
suits would be brought in the Circuit Court
of the u s., where all suits we're brought
in which the United States were party or
interested. r. NJ. GAINES.
Mr. Gaines has stipulated to take pay
ment from the debtors of the bank in the
currency received at their counter, ,nhen
payment is offered; but as the bank has only
!S91 900 in circulation on demand, as soon
rs judgments shall be obtained, she can re-
fuse to take any currency at her counter
except specie and her own notes due, and
thus compel the transferred paper to be paid
in specie.
/ felt it my duty to make such inquiries
in relation to the action as well as the con-
dition of the Agricultural lank, as would
enable the public to Judge Of its solvency
and the fidelity with which it has adhered
to the terms of its charter. But the officers
progress. demanded the "discount credit
book" in order to ascertain whether the
nem OF "individuul depostes" in the bal
ance sheet were correct, and to know what
amount of over drafts had been made by the
DIRECTORS and other officers. This was re-
fused me. demanded the same book to
ascertain the exact amount for which few
individuals, near Natchez, had been liable
to the bank, and the character of the paper
which these favorites had placed in the hank
to iiquidate their accounts. 1t was again
refused demanded Of DR.. Merrill, the
cashier, the negotiations made or proposed
to be made between the bank and j. Sea we'll
Jones, Esq, of North Carolina, during the
past summer. DR.. Merrill asked Mr.. Fisk
il he might answer the question; when Mr.
F. told him he should not, and accordinpiy1
DR.. NJ declined to disclose the transaction |
between Mr.. Jones and the Agricultural
bank.
The hank officers seem to consider mys-
terry and concealment of their transactions
from the public and the government. as the
most essential Of the special privileges Sc
cured to them by their charter.
They traffic in cotton and renl estate
they issue post notes, and discounted Bran
don bank paper when it was only worth IS
cents in the dollar, and charged the usual
discount as if it were convertible into gold
and silver; and they justify themselves on
the ground that there is nothing in the char
ter expressly forb;dding such acts On the
other hand when certain books, accounts
and transactions are demanded for examina-
ton, in order that the public may be pro-
tected against fraud and imposition, they re-
fuse to submit them on the gound that the
charter does not expressly require such ex-
hIbtion. They thus adopt two very conve-
niont r,,1oo for p0uofr,inu their cha rtor-ai