Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-08-24

ellanl oeheved was not more than 900n00
.e airy al Of which had been put ont ~ n,,r'
unase cotton, and that this was the onlv mea
sese thaI could protect the holders oftbe notss
" the company from serious sacriRces -
uey were then passing at a heavy disconnf.
"inch would not be the case lone. as arranoa'
menus mad been made to redeem them - No-
que. mat SAID Acee refused to loan his mon.
~ -. such purpose, stating that such an act
wouio % improper if not criminal. and more.
oven y At he believed that the Companv, had ~
least SlO0OO0 in circulation-.said afF;a,t
saltn, tnat thus suggestion about the amount II
circulation alarmed him much, as he was sat-
'suso tnaL the same had been taken ont iunnro.
perry, IN MS absence, if in circulation, and
tnat me- athant, then abandoned all idea Of bor-
rowing money Tor the purpose aforesaid, as he
considered such an act under the circumstan.
ces OF the case highly improper.
sad attiant further saith, that about the
middle OF August, 1910, that said Acee. after
paying forty per cent upon his stock as Wen as
AZ Oh MS liabilities to said Company, sold out
ms remaining stock and withdrew from said
Company--that af.er his said withdrawal, that
SAID Acee attended nOne OF the meetings of
the Directors or Stockholders of said Comna-
ny' nor took any part in any of their proceed.
ings. That said Acee on some few occasions
called at the Office Of said Company to secure
the transfer of some property, for the purpose
OF indemnlfying the old stockholders AGAINST
some outstanding claims, but those visits were
either before or after the adjournment OF the
board. Said afiant further saith, that he new
er heard, nor does he believe that said Acee
ever obtained, either directly or indirectly
from SAID Company, or any of its agents, any
OF the notes or money Of said Company, ex-
ceptng the sum of $500 which he borrowed
from attiant Tor friend who wanted the same;
nor did atiant even hear or ever know that
SAID Acee was interested or engaged in any of
the enterprises, speculations or profits of said
Company after his said withdrawal; nor did he
after that time CONTROL or attempt to control
SAID Company or the Directory thereof in any
OF heir movements, plans or operations; nor
did said afhant ever know or hear that said
Acee was IN any manner privy to, or connect
ed with the same, or give any advice or coun-
sci respecting the same-said affianS further
states, that said Acee has never avoided
settlement with said Company, but on the con-
trary, has repeatedly urged the same without
effect, since said affiant has been President.
Said affiant further states, that Mr.. j. Black
man never said in the presence of affiant, that
said Acee had obtained $4,000 or any other
sum from said Company as charged by A. l..
Campbell Ill his last publication; and further
more, that said statement of Campbell is utter
ly false.
Said afiiant further states, that all the en-
tries made by said Campbell while cashier on
the books of the Company, were made by said
Campbell upon his own responsibility, and
without any instructions from either affiant or
the Directory. That Campbell was one OF
the most active of the Directors, and always
present aiding and advising at the meetings OF
the Directors and Stockholders, and on that
account it was not deemed necessary to give
him any instructions about these matters, as he
knew what resolutions were adopted.
Said affiant further states, in con clusion, that
he has the best reasons for believing, that A.
l.. Campbell used, while cashier of said Com
pany, without the knowledge or consent of the
Directory thereof, from $4,000 to $4,000 in
the notes of said Company, without leaving
any evidence of his Indebtedness therefor.
GEORGE VAUGHAN.
Sworn to and subscribed before me, this
10th day of July, l64l.
JOHN THORNTON, q. 81
Justice Of the Peace
When Maj. Hicks applied to me for
assistance he knew that some gentlemen
in Alabama and this S ate had left with
me about $4,000, with which to purch-
ase out the charter of the Commercial
Bank, of this place. To this amount !
added $4,000 more, then under my con-
troll and made a deposite amounting to
Sl6,O 900, as state by Messrs Hicks and
Vaughan.
1t will be seen from the above afidavits
that no specific sum was applied for, and
that deposited a larger amount than was
erpscted. My object in making the de-
posite as large as | did, was 10 regain
back in some degree the many losses
had sustained by my previous efforts to
sustain the company, and as had already
been harassed with several lawsuits in
consequence Of the neglect of the dlrecto.
ry 10 discharge the liabilities of the old
stockholders, which they had promised tc
do, | deemed il but an act ofjustice &c
myself to make them pay for their negli-
pence. The motive that principally con-
troled me, however, in making the depos-
lite was self protection against endless and
ruinoms litigation. ] knew that at least
three thousand dollars OF the circulation
were of the oil bill s(issued before the com
pany was incorporated) for which was
personally liable, and nearly the whole Of
Il in notes Of the denomination OF 30 Slo
and $50, all of which several denomlna'
lions the company were then redeem'ne
with Alabama funds. At that period the
circulation was coming in with great rap
idity, and | felt we'll convinced that II the
| institution suspended under such clrcum
stances that the panic produced by I
would involve me in almost lnnumeraDlt
Lawsuits of the most vexatious character
# was principally TO avert an evil SO grea'
that I agreed to make my deposlte;thougf
10 making it as large as did, was gov
erned by the consideration above men
toned. IL,
As no intimation was made to me ina
the directors wanted more than enough tc
redeem the circulation as It came ln' ane
rs neither knew nor suspected at the time
ofthe application that the Company men
ded 10 make,an exhibit of their condltlon,
did not dream that any improper use wo9lC
or could be made of my money:-wneshel
INV deposite was used or not on that coca
sion IS still with me matter OF douo'ia'
| will be seen in the sequel.
II may be proper here TO state tilat aOou
the lime was requested to make the dePo''
tie alluded to in the above atfldavlss' lnas
was informed by several Of the Directors I!
- IL. ~4rInT n