Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-04-27


with interest-onginally debt to the
Bank, guaranteed by Mr.. N. BiddIe,
and never assumed by him, 100000
Balance of loans from "BiS Receivable" 30 500
$4,000
SECURITIES.
200 shares Philadelphia and Reading Rail Road.
1000 shares New Castle and Frenchtown Trans
porta ton and Reading Rail Road Company.
Deed 10 MIR. N. BIddIe for lands IN Dauphin
county, but not conveyed TO the Bank-considera-
ton, $50 900.
The general purpose of this statement was to
show that had borrowed these sl6l 900 from the
Bank that still owed it to the Bank, and, it is
put among the list Of debts from officers Of the Bank
due and not paid, and in jeopardy, it was evidently
designed TO throw over It the same shade. That is
the general color of this deception. But when you
come to particulars
/. The first item is purchase by me of certain
stock belonging to the Bank, which, the Bank
anxious sell, and which it sold for than twice
its present value. The Transaction wholly ia
vorabie To the Bank, and desired by the Bank, and
certainly not the favored party. IL would
doubtless have been put down as common debt to
the Bank for money borrowed, but hy great good
luck, as It happened TO be purchase OF this unhap
ply Reading Bull Road stock, the pleasure of exhi-
biting that guilt was too great for suppression and
for that reason the committee gave the fact which
enables me to show that instead OF being borrower
am only purcbaser-and that the purchase mo-
ney will not be due Till January, 1912. There re-
manned, however, one chance of perverting this
transaction, too tempting, 10 be omitted. They say
that this stock was purchased ny me January
Sd, 1889, but in January 1889 was the Preside ni
OF the Bank and therefore If bought this stock at
thatume should be guilty Of the indelicacy OF pur.
oh ising the assets of the Bank while was at the
head Of It. Now IL not until December-lons
after had left the b lnk-whenI was merely pri-
yate citizen, without the slightest connection with
the Bank in the transacton-Ihat bought this stock
oi a stock. broker.
That is the FIRST msre pre- seatation.
Inc second item is rather woTse-Here is q sum
OF 100000 which they describe as Originally
debt 10 the Bank guaranteed by MIR y. BIddle and
never assumed by him." so that am made 10 appear
as one who first obtained 100000 from the Bank
through some one else my guarantee, and
after had got the money would never sumc the
debt.
Now when the COMMITTEES made this statement
they had before them my payable in JAN
uarY next, with ample collateral security, forming as
good and safe debt any in the Bank and which
will be certainly paid at maturity. That is the
cond misrepresentation.
Let me explain hog such note ever came there
at all.
In my zeal to promote obs eets of Improvement
determined some years ago with one or TWO pub
Ic spirited gentlemen, that there should be made a
Railroad from Philadelphia to Baltimore. 4 large
portion OF the funds was borrowed from the Bank,
and with a view 10 ensure its completion, became
personally the guarantee to the Bank for the safety
OF about S40O, goo OF the loan.
Well, the Road is now Enished-Philadelphia and
Baltimore are both in the full enjoyment of it, and
"
repaid or secured 10 the Bank. OF the part guar
anteed by me, all has been paid except this 500,
coo, which is not que Till January, 1912.
The third item is balance oil loans from Bills
receivable" S29, 500
This is designed to convey the impression that
having borrowed this money, for its security had
left deed for some land which had not or would
not convey TO the Bank.
Now this Committee had before them A Litter
from TIE late Cashier declaring that he had no au-
thority iohstDsT 10 b0rro0 this money for me-they
knew that at the time thus sum was charged to me
] was not aware Of the existence of his loan
never authorized it--and meyer knew of this deed.
land that the matter was then In a course OF neeo.
6iatiOn with the Bank.
There is still another misrepresentation far more
important
The Conmttee say that "not being able e. Oh.
tala satisfactory Information upon the subject of
those expenses from the Books or officers OF the
Bank, Application was made by letter to Mr. n. Bid.
die and Mr. J. Cowperthwaite, from johOnl no repv
has been TteeIUsd." ~
Now contrast this with the truth.
4 myself made no answer. because perceived
that the letter was a mere preieTL They were ex-
aiming all my affairs without giving me any no
tIce, and this letter asking information as 20 one in
suated point, was 10 be made the occasion Of say,
ing that they had given me notice on the only point
m which they waned Information. But Mr. Cow.
perthwaIte himself called on the writer OF the letter
Mr lippincott, and IN his pESsrncs drsto up torit.
ten account Of the Transaction, and Rare IL 10 Mr.
LiPPtHeOm MrCowp enhwate states these facts in
letter 10 me just received, Of which an extract fol.
lows;
Failing to obtain from the proper Officers Of the
Bank. after repeated application, permission 10 .Y
anime the vouchers alluded 20 IN the letter Of IN.
Chalrmon ol the Committee 70 me Of the 24th ult.
called upon that individual, and expressed nv
anxiety 70 give 10 the COMMITTEE any informetioI
possessed on that or any other subject stating to
'him the fact that had been refused PERMISSION 20
see nese Vouehefs' Mr. Lippncou informed me
that the Committee had also been precuded from
seeing the vouchers. | then stated to him What
my recollection was respecting them; he requested
st might be put down IN writing, and a short me
"mofandum was accordingly made.
"Yours, &c.
-. COwPERTHwAITR.r
Now is not all this very unfai1 Here il a Com
mttee who assume 20 examine the private ntT,irs of
every mao who for twenty years has had any deal.
ings with the bank. They publish garbled state
ments Of his accounts and when the accused goss
70 the Chairman of the Committee, and delivers 10
hun Written statement, the Chairman makes the
Coinnuee DENY they ever received any communi.
eaton from him and turn his very silence mo
crime. And how % II 10 be for the fptn,e1 4, -
contemplated 70 publish the accounts of ali the DBL
ers with the Bank, but they say at las been
tnough' oos' not TO publish The lists IN detail OF the
active and suspended debt. The injury which
would result 10 the credit Of individuals lac, scb 40
eNpositon might Ultimately be detrimental % tbc m
terests Of the Stockholders" They therefore re-
serve this ior some iulure OCCASION when tb. Id,
vidual may be made 10 suffer and still b.. 80 ~
pay his debt 70 the Bank, and IN The mean tim. H.
may publish what they please and lust as much =.
they please. You can have no access to the pspsr,
90 nc Danh 70 ehPlain your own transactions there
and when you state them ~ writing 10 tbs esde, -
the az, he denies that you ever gave him onv in.
formation about them. And who shall be SAT- a.,
every week may not produce some fresh stor,s
from he same mint til! the public impotence rises q
crush them.
And now having been obliged TO introduce thi
subject Of my own concerns, take the occasion
merton another matter which | have never had
O. -.
record now lest The same charges may be revive
when J am no longer here 10 defend myself In n
war against the Bank, Il vas thoughfa popular 4
pc 70 teProach me Nith iavortsm--and ne the on
plausible object Of H. % select the firm Of Thorn
Rlddle Co, distant relatives u mine bur "
whom do not think ever had any pecuniarv fran