Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-04-17

The accounts have been settled in various ways or
transferred to other heads, the Directors having re-
solved TO abolish atosethera course Of
presoan, With mischief and loss, and to prohibit
| heIy, all loans except by the Board ITSELF
There stsnsis now upon the books ofthe Suspend
60 Debt Department, transferred thereto from "Bs
neceivable," still unsettled ,I7065i dolls az cts.
portion Is on the list OF Active Debt having been
changed into bills discounted, at deferred periods Of
| maturity.
These loans were generally in large amounts. In
the List OF Debtors "Blis Receivable Of the first
Of January, 1887, twenty-onc individuals, firms and
companies, stand charged, each with an amount OF
100000 dollars and upwards One firm OF this city
! received accommodations OF this kind betw cen An.
gust 1885 and November 1887, to the extent Of
st2l3,s7S 80, more than half of which was obtain
ed IN 1887. The officers of the Bank the mselves
received IN this way, loans to a large amount In
March, 1856, when the Bank went into operation
under It's new charter, MIR. Samuel Jaudon then
elected its Principal Cashier, was indebted to il
sIoo,5oO. When he resigned the situation of CASH
Ter and was appointed Foreign Agent, he was in
debt s4OS, 3S9 25. and on the lst OF March, Is4I
ne sui stood charged with Indebtedness Of Sly
ooo' MIR John Andrews, First Assistant Cashier
was indebted to the Bank in March 1886, SIOI OOO
by subsequent loans and advances made during IN.
neSt three years, he received in all, the sum of
sa2o $50 90. Mr. los. Cow perth ate then Second
ASSISTANT Cashier, in debt TO the Bank in March
1856, $4,000; when he W as appointed Cashier in
oePt. 1888, S326,3s2 SO; when he resigned, and
j
s'2,96o, and he stands charged March ;, lSiI, on
ths Books with the sum S55,0sl s5. Ii appears on
The Books OF the Bank, that these three gentlemen
were engaged IN making investments on their Joint
account IN the Stock and Loan OF the Camden and
woodbury. Railroad Co PHILADELPHIA, Wilmington
ana Baltimore Rallrosd CO., Dauphin and Lyco-
ming Coal Lands, and Grand Gull Railroad and
Banking Company.
Inc various settlements effected with the officers
aho otner debtors Toe these rreg loans must not
be suffered TO pass without notice These se,,Io
ments were without the know ledge or appreciation
oil the board, at least far as appears from their
minutes The large loan to a firm in this city, be
lore adyerted 10, settled by the recent in nav
men' OF various stocks and real estate, except 247
Z64 dollars, SO cts, in cash. Another LARGE amoun,
Oh loans to single individual Of LOLA, 977 dollars
80 cents, was settled in like manner There wa,
t 1Aen ~ settlement # debt from Messis. Bevan &
humphreys, (Mr. Joseph Cabot, one of that firm.
oeins ut the time director Of the Bank one thou.
Sahu one hundred and fifty shares OF United States
BANK Stock, IN 1888, viz:-On the End of August.
Two hundred and fifty shares, at 1913 dollars. the
bsnn n setns on the same day at 100 dollars, less
brokerage; on the 22d Of August, five hundred
shares, and on the 23rd of August, four hundred
shares OF l25 dollars, the market price on those two
Gays being 1913 dollars, 25 cents the bank selling
ue Gay after at l23, less brokerage. Settlements
oil a similar character with debtors for smaller
amounts, were of frequent recurrence.
ne hrst instance IN which an officer paid his
Seo' 10 the bank IN other than money, which the
- committee can hnd, was in March, 1888, when MIR
S S u JSuaon' ('hen IN London the agent of
the Bank,l MIR. Joseph Cow perthwai,e, Uben cash.
ler,l and John Andrews, (then first assistant cash
ier,) paid a debt o! S269, 500, which thew owed IN.
Bank on joint account, in Danville and PousviI,e
i ISai tN1au company hve per cent. loan, 10000
Union Canal six per cent. loan, ioO0o
Philadelphia and Reading Rail Road Com ''
pany stock, $500 shares, 10 200
EST Fehciana Rail Road Company S ock,
100 shares, N ooo