Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-05-25


ISIS, Jan 80 700 shares Reading RaIl- -
road, at $40, SOL ,oou w
In,erest - INNS 10 Jan lSl0 $50 0l
1880 OF
Commission -; 4
33,30G ).
$50, Dec. H. To cash paid, 1000 90
$50, Feb. ]. do. do. cu6 o2-l,eC0 ~
Balance due bv " Biddle. ESD. S3I SEQ &C
on 200 shares, which payable in II months from ia
nuary 30, 1910, with interest, and per cent pei
annum.
(Sirned THOMAS BIDpLE & Co.
Thus il appears if this entry te be relied on, thai
the stock was bought the 29th January, 1880
made payable with interest in II months, from Jana
~ 50 $40, and that when its maturity arrived Fe-
bruary 9, l@4l, not being then paid, II was transfer
red to the Suspended Debt Department, and Mr. Bid
die there asked md obtained extension Of II months
more.
The second item Of the account is as follows
"January ), ls4l.-IIls note due January
8, lsI2, with interest, originally debt
10 the Bank, guaranteed by MI Diddie ~, .
and assumed ny hun, Siuuoou.
In the original impression there was typographi'
cal error the word printed for non, wi'ch was
not discovered until after some four hundred copies
had been struck off. As soon as discovered The cor
rectIon was made in the form, and with The pen IN as
that few copies may have been given out before tins
was done This is the only error pointed ont IN the
second item, which it an absurdity as oflgl'
naly printed, would have led almost any one 10 sus.
pcct typogra phical mistake.
The third item of the account is: .,
ssBalance of loans from Bills receivable, S2o,ouo
Now it is true that the Committee were shown
a letter from Comprehensive declaring that he had OBJ
tanned this money from The Bank for Mr. Biddie, with
out his authority: but it further appeared that Mr.
BddIe had authorized Mr.. COMPREHENSIVE 10 purchase
FOR him the lands in Dauphin county, Tor which the
deed gven and that after the fact was brought 10
his knowledge that tie money had been taken IRON Tue
Tcllers drawer, and while he was President OF the
Bank, and charged the books to HIN, ne had admit
ted the debt by the payment Of interest upon II.
Ii will thus be spen that the account OF Mr. Bddle
submitted setting aside the Typographical error
correct, and fully sustained by the books OF The BANK
yet he has not hestated TO pronounce u lssue VI
misrepresentation.
The Committee confined themselves to SO much Of
this account standing unpaid or unsettled
Had they gone further back it would have appeared
that the following loans had been made to MI ~ nd
die, and entered as "bills received
Jannorv / Is}s $4,000
February ia 1873 10000
February % 1898 700
lime IN 1s3s 81 1000
Sep,ember l. 1s3S. 10000
Amounting in all TO Sio,uoU
which remained unpaid up to March y, 1879, npon
which day il paid in full with interest
If it be asked, why parade Mr. Bddles account be-
fore the world? the answer is simple one IL IS be-
when these debts contracted he was an of-
cer-the chief oiIicer-and bound Us such TO set an
example those in subordinate Offices, and because, as
lie has himself expressed it, "oicers Of banks ought
not to be borrowers at all-never large borrowers.
=. The account Of Mr.. S, Jaudon.
The statement ofthc expenses of the Agency, Lon
don, and Mr. Iaudon's commissions were introduced,
not for the purpose of casting upon him. but in
order to show one OF the consequences OF the pocy OF
the Bank which had subjected her TO heavy discounts
and expenses her loans in Europe; and also 10 e1-
hibit the loose manner in which the agreement with
that gentleman had been made, that he could still
charge extra commissions 10 SO large amount; while
il appeared the same time to be part of the under
standing with him that for the ordinary compensation
stipulated he should devote himself exclusively TO the
business of the Bank
Mr. Jaldon had also been a borrower The Com
mittee referred TO and gave his account in the appen-
dix where the amounts and dates his several loans,
and the amounts and dates of his cash payments with
the list Of his collateral securities, all stated i'll de-
tail "Ilere are parcel Of statements" says MIR.
Bidde, SCALED facts, and suppose they So but
they are scattered and separated that the great truth
which they contain is sudiously hidden. This great
truth seems to be- that Mr. Jaudon had reduced his
debt 10 ll1 000 that his cash payments amounted 10
1907 00D deductng which from his receipts for servl-
ces showed that the latter only exceeded the former by
about 900.
Yet this, we are told, ''gves entirely new as
pect to the whole question. For after all,' says Mr.
Bidde, "what debtor of the Bank has paid much or
so we'll during that time: doubt whether there is
single who has paid in any thing like The same
proportion of his debt Perhaps there may be other
heavy debtors of the Bank. who would engage to pay
even in full, if employed in agency Office at
salary or commission Of one hundred thousand dollars
per annum, four times the salary of the Chief Ma
gistrate of the IT, S. and eleven times that of Anne
rican Ambassador abroad
Mr.. Jaudons accounts would not have been again
introduced had not Mr.. BddIe chosen 10 charge the
committee with scattering and separating the facts
SO that .he great truth which they contain is sindious
ly hidden" This is very strange assertion for any