, 1841-05-15
BOWLNGGREEN, MO. SATURDAY, MAY Is, l&1.

likely to result in a loss instead of a gain.-
thus, in this and other transactions, the
gam u there should be any. was to he peck.
eted oy these persons, but if there were .
nhai i"ss. ths bank was made TO be the suf
'erer: several large contracts are also spe.
cined, made Individually by Bidea, and o,her
ofncers or directors, which wp,. ~sue.orasa
oy The bank without the authority of the
board.
Agaln-owing to very large loans irrecu
larry made TO Biddle and Others. principal,
on uncertain stocks, and their Indebtedness
TO the bank incurred in various WAYS, but
CHIEFLY without the regular authority Of the
Board "i Directors. the bank. or rather those
officers who assumed TO direct the affairs of
the bank, finally received in payment for
such debts immense amounts of various
stocks, banks. &C.. Of a very uncertain na-
ture; so that sol the whole amount of The
stocks and loans (say the committee) which
the bank has received since its recharter.
including those since disposed of, it appears
that more than Mirfv-one millions of dollars
have beeen taken in settlement of debts and
advances"
Again-these officers. managers, ar agents
OF the bank, purchased of themselves. ap-
rarently. for the institution, Il large number
"f shares in The bank, III Il certain rate. when
the bank was. al the same time. selling shares
at IA lower rate. Thus .there were taken
from Mr.. Copper,hwairr. in March. 1893.
ei.h'y-nine share at Sl2O. the bank selling
the same day nj Sl18, less brokera. e: and in
January. 1910, there were received of him.,
as cash. $50 shares at SIOO. The market price
of that day heing SG575 cents" There
were ais" taken from Brvan & Humphreys
~. Cabot, Il di:Ccinr. heinz one of iia, frir)
1850 shares, IN 1898. aIrw"u r three dollars
- share abnve ihc MARKET nee. or more than
tie bank w"s actually selling lis shares at
IN tie ~f"ll"wIng day. "ScEIlruenis of Il
>:iiri'"r Character. with del tors for smaller
am"I!nI>, we're al fregn.ni occurrence"
Again-ile officers of the bank receiver:
loans Ia Il large an"unt irre-mIa,l,--'trrt is
by their own ~au'I"rirv. willonI The drr-c
l"'n of the brard. when Mr. Jauinu.
Cashier, was appointed f"rer-n a.en,. hr WIS
iii arh; To- tie h.nk S4O3 $50. J. An 49,.
cashier. IN Marcel. 1886. Ms ill.,
SlOl 900, afterwards lncrrnSr,i. J..
lie. cashier in Serremhrr. 1887.
was indebted S326.332. These were re-
paid. chiefly. in deprecated and depreciai-
ing stock. 10 the great disadvantage Of the
bank.
In reference TO such loans and such re-
payments. the committee sav--"lI seems Ia
have been sufficient, Ia Obtain money on
loan, 10 pledge the stock Of an .incOyporafei
company however remu.r lis operations or
ITS prospects. Macy large loans.
originally made nn rled-e al stocks. were
PAID for in the sa,ne kind of property, and
that, too. at par, when. in many instances.
they had become deprecated in va!ue. 1t is
very evident TO the committee that several
of the oDfcerS of the bank were themselves
engaged in large operations in stocks and
speculalioDS, of Il similar character, nth
funds obtained Of the bank. a large part Of
the sums thus loaned were. as might hare
been anticipated. ultimately lost. or the bank
compelled. on d~isadvantageous terms as /"
price, to take in payment stocks, back lands,
and other fragments of the estates of great
specula,ions."
In our next and final article on this re-
port, we shall notice the shipments and
specula,inns in cotton. &C.. made by Biddle
dflu bllit bdIh 'ilICIS. III lIC manu- w 'C
bank. and with It's funds, bu, for their own in
diriduaL benefit. 1t is in consequence of the
transactions we have stated. and others of a
similar nature-bv which these officers and
managers Of the bank employed lis funds.
and became deeply indebted 10 it. making
payment, if made a, all, in unavailable. de-
preciated. or worthless stocks and state Sc
curities-that the bank. as appears BY the re-
port. has become so deeply involved. and
sunk nearly the whole of its capital. These
proceedings. indeed, show a depth Of depra-
witty. n reckless disregard of honesty and
principle, a shameful breach Of trust and
confidence, which has not only stamped an
indelible disgrace upon the individuals con-
cerned in them, but has cast IN useemly stain
upon the fair escutcheon of the nation.
We make the following eloquent extract
from a speech delivered by the Hon. llIiam
tlioa oCDb;o opa Of tho most S,prlInr demO-