Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1841-05-01

exposition might ulum1isIy De ms 10 the
Interests Of the stockholders"
They therefore reserve this for ,Ome fltura ocr,-
sion. when the individual may be m,ie In sufer
and still 70 able TO pay his debt 10 the bank, md IN
me mean uine hey may publish what they pless,
''u Just as much as they please You can hey. no
s0Vess 10 the papers IN the bank 10 explain your
o"h transactions there. and when YOU state them
~ "r''hs To The leader of the six. he denies that
you ever gave him asy information about them-
And who shall be safe that every week m,v ma,
p''ouuee some fresh stories from the sam. mint tiI
'"e Puoiic lnpaheuce rises 10 crush them.
Ana now, having been obliged 10 il~lrolucc this
SUBJECT oil my own concerns. take occasion 4, men.
uon another matter which | have never had /, 6t
opportunity Of explaining. AMI | wish 10 place II n,
record now, lest the same charges may be revived.
when am no longer here 10 defend myself In the
war against the bank It was thought n popular tonic
10 reprOach me with lavoritisin-and as the only
plausible object of it. to select the 6rm of Thomns
biddie ~ Go, distant relatives Of mine. but with
whom do not taiuk I ever had any pccuniary
tansactoa. When the %commitee of Congress ex.
AHMED the bank in 1892. their attention was Oh.
recied to a large loan to this house Of Thomas Bid.
die ~ Co, AM an effort was made. partly political
anu partly personal. to show that / had been guilty
oil great iavorteism towards people who were 70.
presented as my relatives.
That question was therefore thoroughly e1amin.
ined by the committee. and although it may seem
osteniaious. | think IT 50 important, that | shall put
down the successive answers by the directors anil
officers as they were summoned to give their ties.
tim ny.
First. the ex-cashicr. Mr.. Thomas Wilson
When Mr. BiIdIe came in as President. | Of my
own accord and from the slme considerations EN-.
ployod Mr. Thomas B,ddle again. | mention this IN
I+s'ce u Nj y Bddle, and from a wish TO Ice un.
derstDoI that 1t was through me that Mr.. Il. Biddle
was employed rs broker of the bank"
And again IN answer 10 this question by Mr.. Ad
ans
ID You know Of any preference or favor, or par
TALLY. shown by the president of the bank to Mr.
Thomas B'dile' m the transactions OF the bank
with himg"
Answer. do not. when the sale OF the for.
feited bank stock was contemplated, a committee OF
the directors was appointed to conduct n. and Mr.
Whitney went To- New York IN order 70 dispose of
u. Such an Operation of course TO be conducted
with secrecy. lie made sales of a large portion OF
1t through the Primes; Mr.. Il. BIddle became The
purchaser. lie held tho stock for a long time a, a
considerable disadvantage, aud was not aware n
the time he purchased, that 1t was the bank thai
was selling mention this circumstance TO show
there was no pryIty or connection between NJ. r
Bildlc AM the president Of the Bank. IL was q
large operation, and had it been known Inc banl
was selling, the price would of course have CllIon.
l may add that Mc commission alone on s,ch a sal,
"'utN ~ uttu Il great ODlcCt ~ Nc. A. BI...J
had been employed as The agent 10 conduct it,"
Then the cashier, Mr.. MIlyaine, in answer 10 n
question by Mr.. MDufie.
Il have never seen any disposition on the part Of
the President 60 show the smallest favor 10 The house
of II. BidIle q Co"
And in answer TO VI. Adams question
'IIaye YOU ever known the President to manifest
any Partially, or eyince u disposition to grant any
special idyos to any one Of hIs relatives or connec-
licnsl"
He answered.:
81 have not Whenever tho Bank has been the
purchaser Of bills OF exchange from 4. B dIle &
CO. the President always appea.ed 10 make the best
practicable bargain for the Bank
The Gen, Cadwalader-to a question by Mr.. Ad.
aus:
"llave you ever known the Pres dent to manifest
any pagt'aiity, or oviace "a disposition 10 grant a sae.
cal iuVor To any of ms relatives or friendsl"
Il have MT | VIII however mention two or
three Instances the other way"
lie then mentions The sale of stock described by
Mr.. Wilson above, aul adds
Another ircums'a7c " thin nv recollection is
an application which was mlde by Air. Charles Bid
die, the brother Of the President, for a cash.ers,ip
in one Of the western Offices. Mr.. c. BdIie's tai.
cats and habits of business might be supposed 10
have emInen;ly qualified him for snch an appoint
mcni. His application however was DISCOURAGED
by the President OF the bank. Another application
was made hy Mr.. .. b ddle for the s,licitorshlp Of
the Nashville office. The president Of the Bunk
declined recommending him TO the board Of The
branch for that ollice-his want of professional ex.
perlencc being suggested by the President as a suf
hrieni objection A few years ago, visited ~. Louis
at the request OF the board for the purpose OF report
ing os TO the eligibility Of that place for the eslab-
l'shment Of o branch. The character. talents, and
standing Of Major Thomas Biddle, n brother of the
president seemed in the opinion Of tho most intelli.
HanH ATN. 81
presidency Of the office. Being ap7rehensiye how.
ever that the president of the parent bank would
object 10 Major Biddie on the score Of the relation
ship, placed next 10 him on my list the name of
Col. OFallon. When the Office was Afterwards es.
iablished, and the board OF directors were 10 no ap-
pointed. the president directed that Col. OFalloa
should be placed at tho head OF the list. and 1t was
80 arranged by The Committee Oh the offices"
And again
Il have never known any leaning or Partially on
the part Of the President 10 Mr. + BiJdle or his
house"
To Joseph Cowperthwaii Assistant CASHIER. in
answer to Mr. MDanie's question:
Whether you have ever known the present pre-.
siding officer 10 manifest on and occasion a DISPOSE.
lion TO grant savors to the house of Thamas Biddlc
~ Go, crto extend 20 them any facilities not condu.
GIVE 10 the interest Of the Bank.
lie says-"With regard TO loans tot Biddle &
20 IN 1881 ihe5 were frequently the subject Of
discussion before the Exchange Committee, and II
always seemed 10 me that the President was the
least anxious on The subject. lie was anxious that
The funds Of the Bank should be invested. nd SPOKE
ia that general relation al the meetings ofthe Com.
mIitee. With regard To the parliaHry 20 which the
question refers know o., instance whaieyer If il.
MY own Impressions have always been that the
President has erred in being TOO scrnpuIous.r
lie then cites the above mentioned BY Mr. vii.
son. aud adds-"Nhcn ! alluded 10 the matter n.
mong the officers ofihe Bank. ! received the i'm.
preston that II was done in order 10 avoid any I'm.
puiatlOu Of Partially"
s. Mr. Paul Beck, jun, in answer to the ques.
ton
Have you ever known the President 81 the Bank
p manifest any pl)rIaIity iowarls Thomas Biddle
q 20, ~ any Of the Transactions Of the Bank"
lie says
never have seen him treat ihcm as hard as
any body. In lime Of press brokers aud auction
GERS paper was always discounted last, mechanics
ani traders always discounted FIRST have very
often seen The Board willing 10 do more Tor Mr. 4
Bi1dlc q Co. than the President would allow"
Oihcr testimony was taken uUl the Committee al
Iensih came TO The resolution. us may be seen In
heir reports.
I'm