The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1841-04-28

,''... ,'s, ., I" ''.''a'';5 9;37oi g NO.9l.7
mitted to the examination he members Of lie
Board at its regular meetings, nor is it any where
entered cred on the minutes having been reported 10
that body, for their information or APPROPRIATION, sAs
Illustrative Of the extent of these transactions il
may be proper 10 state, that ths 81 sum total o. Bs
EERasce;wva;sie,E- Re-, ah' tfHf2zia Ut HJl1fAsfatT
oa tho .4sh~. March, 1896, was wa ssaa1 $50 IS
gajsa 'oa .isarstiissssa Grra slss44s sss l4s q q
I5sn",s3a -. !sss'' 1879 ia 500 25
,r"'iaq !" ~ 1910, .,,..1 !, 4o4I,7o5 81
The amour, outstanding on the books Of this Do.
partment on the 4,h, of MARI, 1e41, had become
reduced to the sum of l76954 dohlly u cents. Tho
accounts have been settled in various wSYs or trans
ferred to other heads, the Directors having resolved
to abolish altogether a course of proceeo:nps, 20
pregnant with mischief and loss and to prohibit en
tirely, all loans oxcepthy the Board i.sslf. ,1oa9
There stands now upon the books of the Suspend
ed Debt Department, transferred thereto from "Bills
Receivable" still unsettled. 1,47o, ,65l dollars IL
cents. A portion is on the list Of Active Debt, hay
ing been changed into Bills Discounted, at deferred
periods of maturity, gaa az, ~ mis- al
These loans, were generally in largo nmounts ID
the List Of Debtors ON "Bis Recevaben on the
lst January 1897, twenty one individuals; firms and
companies, stand charged, each with an amount of
one hundred thousand dollars and upwards. One
firm of this city received Recommendations of this
kind between August 1895, and November 1887, to
the extentof 42l3 1873 dollals 30 cents, more than
half of which was obtained in 1887. The officers
of the Bank themselves received in this way loans 10
large amount In March 1885, when Sthe Bank
went into operation, under its new chatter, Mr..
Samuel Jaudon then elected its Principal Cashier,
was indebted to it lO0,500r dollars. When he re-
signed the situation Of Cashier, and was appointed
Foreign Agent, he was in debt 406, ,3s9 dollars .25
CENTS and on therst of March ls41, he still stood
charged with an indebtedness of 1l7,500 dollss:--
Mr. John Andrews, First Assistant Cashier, was in.
debtcd to the Bank in March 1886; 1O4 600 dollars
BY subsequent loans and advances made during the
noxt three years. he received in all, the sum Of 426
s3O'dollars 67 cents Mr.. Joseph Cowperh#aile,
then Second Assistant Cashier was in debt to the
Bank in March 1886, $4,000 dollars; when he wan
appointed Cashier in September 1897, 328, 3s2 dol
lars SO cents, when he resigned, and was slecteda
Director by tho Board in June ls4O. 72 $50 dollars
and he stands charged March g.. 184l, on the Books
with the eum Of 550sl dollars s. cents It appears
on the Books of the Bank, that these three gentle
mon were engaged in making investments on their
joint account, in the Stock and Loan Of tho Cam.
den and Woodbury. Railroad Company Philadelphia,
Wilmington and Baltimore Railroad Company, Dau.
phin and Lycoming Coal Lands, and Grand Gulf
Railroad and Banking Company '''''' S's
The various settlements effected with the officers
and other debtors for these Irregular loans, must hot
be suffered to pass without notice. These settle
mens without the knowledge or appreciation Of
the Board, at least SO far as appears from their
minutes. The large loan to firm in this city, be-
fore advertcd to, settled BY the receipt in pay
ment of the various stocks and real estate except
, 247,264 dollars, so CENTS in cash. Another large
amount of lolns to single individual Of l0l4977
dollars, 80 cents, was settled in like "anner Thert
was taken in settlement of debt from Messrs Bevan
& Humphreys, (Mr. Joseph Cabot, one Of that firm,
being at the time director of the Bank) one thou
eoHu oHC HuuoiSu aHe hhty oHoico "a ShhISu SsosSo
Bank stock, in 1888, viz:-On the Cd Of August,
two hundred and fifty shares, at 123 dollars, tho
Bank selling on the same day 12o dollars. less
brokerage: the god of August FIVE hundred shares,
and on tho 23I of August, four hundred shares at
l25 dollars the market price, those two days be-
ing 1913 dollars, 25 cents the bank selling the day
afler at 1913, less brokerage. Settlements of sim-
lar character with debtors for smaller amounts were
Of frequent recurrence. ,.. N
The first instance in which an officer paid his dh6t
to the bank, in other than money which the COM
mittee can find, was in March, 1888, when DIR,
Samuel Jaudop, 0hen in London as the agent Of
the bank, (Mr. Joseph Cowperhwate, then caahier)
and Mr.. John Andrews Chon first assistant cashier)
paid debt of 269,60O dollars which they owed the
Bank on joint account in Danyille and Pottsvillo
Railroad Company, five per cent. loan S7o'ooo
Union Canal, 6 pcr cent. loan, loooo
Philadelphia and Reading R. R. Co. ~. .,...
stock $500 shares, l7s,500
West Feliciana R. R. Co.. stock 100 .--.ss
shares, ..... 10000
Il
.s9ss, 500