Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-06-19
5. s. BAXTER,
II. RHODES,
JOSEPH JACKSON,

/ .. 81. Your obt. servants,
5. S. BAXTER,
II. RHODES,
JOSEPH JACKSON.
as.sa.a3. 18Th June, $50.
REPORT.
4 y.. a~ l+A .tr-il, immediately on the receipt Of the
son authorizing Us 10 inspect the books and eS-
..-. Into tEa condition OF the Bank of Virginia, we
..-. .e5a the discharge Of that duty. Every aid
Tie BANK could furnish was promptly rendered.;
.ac confusion IN which rs affairs were LETT by the
:.leS-st teller, and the withdrawal of It's books,
r---s and c,srxs. b. the criminal prosecutions which
wei. nee been pend Nc, have greatly retarded our
Tie a-aexed statements, \ and B., embody the re-
cur enou res Irto the state Of the books and
-...n1o: the Rrnk IN the close Of the Goth April
U u -o1ort herewith, the documents {, d, +, +
an q. and the bank statements numbered from | 10
lar.., re, which viii EXHIBIT, more in detail, many
attic .-..rts comprised IN the principal state ments,
Cr-1-r,.al' examination was confined 10 the Bank at
Richmond: The stale of the branches IS Geduced from
,.-- -a- -ns procured at our request. We have thought
t-aa.-.ssa-y 10 report the voluminous and comp!'-
c.-c 3a1Uso: the examination made by Us. lis re.
s.sv II. re trust, be shown with sutlcientiu iness anc
s-r.-.. is he statement referred 10. 1t may be
7.-,s- :. ada. Ina, in respect 10 The cash on hand, the
. aa. notes discounted the balances on the books,
n. sanding debt Of every description, and the
a,.- ,ssers Of the bank, NE have strictly pertormedtn
Cs,rat r1untng and inspecting them, or the evidences
o,.-u. with all practicable care In one particular
.-r. i'm. s - say, IN the discrimination between the
-.,-.--tE- Bank al Richmond and the branches, there
a1r BE m e--gr-uot considerable, we are persuaded,
a.-4.a. ma,nr.a. to the main purposes OF this enquiry
t. e-rr-. 50 iara II may exist, proceeds from the TACT
stat NJ slcn Il ssrjmlnatIon was in the first instance at
.aa.'st, and could not afterwards be made with entire
~ser8-.-.
iatae most important tatement that Of the assets
aa. abilities oftne Bank. we believe there IS no room
franz material error except in the distribution which
=. we've --:-lret to make, OF the outstanding deot INTO
ed bad. and doubtful. The distribution which We
asye actually made, can, Of course, rest upon no higher
gun. man on. oxa opinion, derived from a personal
a~egy'a2-- of the debtors IN a great number OF instances,
sH. ii .t.ars. from such information is was accessible
u We c1aas, nope not 10 have fallen INTO many
Is ai.y.dla. eases bat We believe, that under
..c..- aa4 4,iL~nt course Of management, the cut
,a.s1- -g1' vii prove 10 BIZ as available as We have
-.~.. II
b wl be perceived b the comparative statement
: '.l' some Inaccrracy exists IN the accounts OF me
5.as +, books have not been balanced Tor many
raa-s, .n. - bills ami notes discounted have nT been
-a&a4. snort Of the account on the ledger. All CIR
instances considered, we think 1t Is not matter OF
,--t-,.. ur u very grave censure, that the errors IN
s. IN should exist. An investigation OF them was
- ~ loot early in the last year, and Is still IN a course
n. +l-ea: prosecutions, which viii result no doubt IN
i@" 6 lection O: them, without otherwise materially
--.,'- : the condition Of the Bank,
ln tr1rst n the cash Of the first teller amounts 70
'e s.a Of S544,Il6 IL. 1t was preceded by over.
-a..,, "a-lr IN the wear ISIS, on the account OF Merrill
a". Green. WINCH amounted from the ga to the 2o'n
So. TO the sum Of S3-,l III 81. These o~verdraits had
"-a nE-' .3Y concealed b. a false balance brought Tor
VAC . 'aa credit Of the account.
I-ny are stated 10 have been discovered al the date
$ mentioned. during a temporary absence OF u.
.@.S-Saeprr having charge of that account. soon al
- Z >rovery, they were made good py CHECKS on
e..-. bank. deposited 10 the credit Of the account
".e4 checks Gulv came round TO the first teller, anc
acre suppressed BIZ han. These checks were not found
Is Ga the 18th January, 1889, the cash was count
't" 4 Committee Of Directors. On that day It ap
r1- 'al' Green's account was overdrawn S2I,32o .
ENC mother account Of a person IN hls employment wa:
.'"'.-@n &ll,ill 05. These accounts were both un
a. e.1--n Of the same book keeper who had previously
a' 81 account IF Merrill 4 Green. He was soon al
.1,nrred b. the directory 10 another service n Inc
~.1< TIE Board having no knowledge, as we are
-.,.-@. II Ms previous misconduct IN tue keeping. 0
f." accounts or that of Merrill X Green-bGt before
these accounts, the o~yerdsafts on them were re-
--.'a I'D a small amount. In the course OF tals Feduc'
a1 a7uv checks on other Banks were entered to The
1...'-: these accounts, came round duly TO the mrs
'@.- and we're suppressed By him. These checks
~ 'a49G br u. From that time, as appears By the
...e@, und u the first teller I'LL and vault, the pro
.7>' Y: rino@22lement was continued without pause
"''o' '1r very brief intervals, down TO Inc 3Vtn Jahu'
r., i>iH. The last check SO found bears date feDEu'
u -,l-i9 Nearly the whole deficit IS represented
. CHECKS d; Green and others variousiy connected
wa a.a, which came into the hands Of the hrs
..~' ora were suppressed and left By him. A por
"t y -" deficit j. represented by good notes amount
" $3.50 H., which were found assigned by tht
~., teller 10 the bauk-and for which he admits thai
SIN Of money short of their amount was taken oy
an On '.a eve Of his fl ght. The checks suppress
: p, TIE first teller are drawn on the Bank Of 'if'
.'.i ana the o:Her Banks in Richmond, and came 'nte
Islands n some instance directly, but generally IN
-'4.3E, e,,her IN his daily settlements or IN ms eN
I.7gas witn the other banks. Ii IS not, IN our JUG
"-.s, necessary or proper 10 enter into further detail;
upon cNs subject. Being clothed with no lud'c'a
P."4iS, narrng had 10 authority to summon witnesses
= require the attendance of parties, our statement
"'-.a Dc liable 70 great errors, and might do much IN
.Asice Nor Do We deem il necessary to describe more
-."l,1.y the process BIZ which this em~bezziemenl ma
'esa accomplished. 1, has certainly found great iaci