The North-Carolina standard., 1843-10-25

! " i ne General Parent PoSt Register, but under
the date of the 10th of February, 1886
| And your orators further charge, that the said
Nicholas Bddle and John Andrews, having pos
sessed themselves of these ten post notes. delivered
them to the said first teller and took from him the
said vouchers for four hundred thousand dollars.
leaving these post notes as substitute for the
same
And your orators further state that on or about
the lst of March, 1885, THAT being the next ac-
counting day of the first teler,) the said Nicho-
las Biddle and John Andrews did take out of the
drawer of the said first teller the said post notes.
and caused the same to be burned in the presence
of q certain committee Of directors, called the
committee on the state of the bank, to whom the
office or duty belonged of burning the circulation
| of the said bank which had been redeemed, and
which it was not intended to reissue-this duty
having been deputed to them by certain rcsolu-
tion of the board of directors Of said bank passed
on the lst day,Of March, 1886. -,
And your orators further state, that the said
Nicholas Biddle and John Andrews caused the
said committe to believe that the said notes. so
burned, were notes which had been in circulation
and had been returned to the bank and redeem
ed, and were not intended again to be put in cir
cufation, (as the charter of the said bank was then
about expiring and which it was therefore pro-
per should be destroyed; and that they also fur
ther caused the said committee to believe that the
notes so burned were bank notcs-that is notes
payable on demand so that the said committee re-
ported to the board of directors, on the 10Th of
March, 1886, that they had the 1st day of
March, 1886. counted, and destroyed by burning,
the cancelled paper of the said bank and its bran
ches Withdrawn from circulation to wit: notes 70
the parent bank, four hundred thousand dollars
notes of the various offices, two million one hun
dred and Seventyeight thousand eight hundred and
twenty dollars drafts Of ditto. seven hundred and
~. i
nine hundred and eighty dollars; making an ag
gregate of three million two hundred and eighty
two thousand eight hundred dollars.
And your orators further charge, that the said
Nicholas Biddle and John Andrews caused the
said resolution of the lst of March, 1886, to be
passed, authorizing said committee " to destroy,
by burning, three million two hundred and eigh-
ty-two thousand eight hundred dollars in notes,
laid aside to be cancelled; they well knowing
that the notes answering the description in said
solution were short of three million two hund ed
and eighty-two thousand eight hundred dollars,
by four hundred thousand dollars; but they caus.
ed that to be inserted in their resolution for
the purpose of furnishing them with the means of
preventing the exposure of the said operation by
which they had so obtained the said sum of four
hundred thousand dollars.
And your orators further state, that the said
Nicholas BiddIe and John Andrews, having so
caused the said post notes to be burned they Or
dered and directed the said teller in his statement
OF his cash account, TO credit himself with four
hundred thousand dollars of bank notes as having
been burned, and to reduce his line of "sundrics"
by an equal amount; so that the line Of sundries
which had stood On the 29th February, 1886, at
one million four hundred and fifty-sx thousand
five hundred and eleven dollars and forty-nne
cents, was, on the 1st day Of March, 1886, one
million forty-nine THOUSAND nine hundred and five
dollars and iortytwo cents; that being the result
of the said subtraction in small variance caus-
cd by the fuctuatn character Of the account.
And your orators further state, that the said Bid
die and Andrews we'll knew that, by so doing (ac-
cording to the course of bookkeeping in the said
bank,) the parent bank-note account would be
debied Immediately las in fact it was) with four
hundred thousand dollars parent-bank notes as
having been burnt
And your orators further state, that the books Of
the bank contain account of parent post-notes,
where any issue of post notes which had been ac-
tually redeemed, and burnt or destroyed should
be dcbited; but as the said account is small COM
pared with the parent bank note account it did not
furnish equal facilities for these transactions as did
the said parent bank-note account, although the
large denominations III which postnotes usually
were made afforded greater facilities of procuring
the proper subject for the said burning before the
committee than ordinary bank notes, which, being
OF much smaller denominations, would have re-
quired greater labor, and much time, to be created
to the extent Of four hundred thousand dollars
And your orators further declare, that it was
commonly thought and anticipated at this time,
that very large amount of the notes of the old
bank would remain in circulation. or were des-
troyed and would never be returned to the bank
in consequence of which, the said account furn-
shed the best means of concealment as it was
thong ht that the same would never be balanced.
And your orators further declare, that by means
of the premises, the said Nicholas Biddle and
John Andrews did most effectually conceal their
said otaining and appropFiating of the said four
hundred thousand, dollars, and the same remained
so entirely concealed from the other officers of
the said corporation. and from all others but the
said Nicholas Biddle and John Andrews, until
the month of June, 1899; when the same was
brought to light in the manner following to wit
The said parent bank note account is made credi-
tor for all notes which were issued BY the bank
and is debted with all notes returned to the bank
and cancelled or destroyed and after the expira-
ton Of the said charter # the old bank the notes
were returned fast, that, in the month of June,
1882 there were less than four hundred thousand
dollars thereof outsanding so that the false entry,
above stated made the debit side Of the account
exceed the credit side-or in other words made
it appear tha! more notes had been destroyed than
had ever been issued which, as it was impossible
| in of RI iob