The Arkansas banner., 1843-09-30


 expended while in the service of the Bank Remember that all the stock of the Bank was sold-the whole fifteen hundred thou sand dollafs-and that, in that case, every was entitled to his stock, as matter of right For example, want mo- ncv, but have no credit, out you have, and l go 10 you for your name, to enable me to obaiht You say tome, l, Mir. Colby, will en- l dorse your paperloryon, Mir. Seyier, upon two conditions, the first is, that you, Mir. SeVier, will secure me against liability, by giving me a atorfgagc upon .yur land :, and the second condition is, that when you get the paper thatyou, oeyier, will give tome, Colby, one-half of the proceeds of the dis counted paper. l agree to tie terms-exe- cute my mortgage, obtain the paper, and you giyeitto me to get q brokerto discomaH. take it to broker, he looks at the paper, and be- lieving it good, the broker gives me the cash for it. l return with t, and give you7 accor- ding to our agreement, your half, and feieln the Balance. This Is our coltfaet-ths IS my stock affair simpliiad, and stripped of all the nonsense which has been thrown over it, in order to deceive the public. What more would aa honest man require ? Would he require, what Gibson does his ferryman to do at the Ouachita, which is, that the dollar he allows him for Sunday work, should be brought hy the negro, and handed over to his master, that the master might enjoy the pleasure of rubbing it in his hand, and then handing 1t back again to Gully IhIs, l H.. I inconvenient to me If ] wanted the use of mVShare immediately So muchfor the stock affair. The Bank allowed me, for my trouble and expenses in selli z for her, not only the five hundred bonds to the Secretary of the Treasury, but one thousand also 10 Mr. Bees the sum of two thousand dollars Was this right If it were not, why were not those who made the allowance assailed --I received not quite the usual allowance for such services. received but S200G for assisting in 4he sale of fifteen hundred bonds, amounting to the sum of S1,560,000 The State Bank allowed to Mir Bertrand and Col. Ashley the sum of Sl600 each,-ior selling 1000 of her bonds and at the same rate for the amount sold, should have been entitled to tie sum of S2,400 Yet l am satisfied with the allowance made to me, and should not have complained if they had not paid me the half of ii, as that sum would probably have paid my expenses. To defend myself upon this point, and upon the one which fol- lows, which Is the af{o1eanee q 5000 10 CofcoraR, the broker, l addressed letters to Mir. Bertrand and Col. Ashley, who were the commissioners for the State, and were engaged l I ,I lowing papers contain their answer to my letter. It is just such all answer as l had eX- pected, and thank them for 1t. Here 1t is ::
 Little Rock, July 2s, l843
 DEAR SIR The undersigned, in answer to your letters of this, addressed to us sever ally, requesting us to s'state in writing whether Colonel Byrd and ourselves, when acting as Commissioners for the State Bank, in :llc summer of 1888, did not offer to hIr Delafield ten thousand dollars, on condition of his sell ing for us the stock Of said Bank at par, amounting to the sum of one million of dol lars,n state that Mr. Bertrand arrived in New ' ork about the 10th ofIuly, and Mr. Ashley about the 20th of July, 1S38; and Colonel Byrd, i've believe shortly after, and thatfrom the time of their respective arrivals we were con- tinually and unremittedly engaged in endea- voring to effect the object of our mission by the sale of the Bonds, without the least pros pect of success until about the 10th of Au- gust of that year-more than five weeks. On the 10th of August, the Commissioners sub- mitted proposition to Mr. Delaiield, former Cashier of the Phoenix Bank in New Y ofk, to pay him a compensation as Broker, to ef- feet sale for Us if praeticable--a copy of which proposition is herewith enclosed-I This proposition was accompanied with a memorandum that the sale should be effected within few days if al alD-the Commis- sioners reserving the right, in the mean time, tUseii 10 others themselves, Il possible. And Colonel Byrd having left New I orll imme- diately after the proposition wee :aade to Mr. Delaiield, the undersigned themselves eff leeted a sale of the Bonds, under their re- served right, to Mir. Beers, of all the Bonds, and thus saved the commission proposed to have been qaid. We will add, that so far as our knowledge or information extends, that the only sales of stock made in New ' ork in 1888, without paying a per eentage to a Broker, were those made by OFT ourselves and the Commissioners of the Real Estate Bank, to Mr. Beers. All other sales were ef- lected by Brokers, as we understood, and for which a per eentage was paid. The General Board of the Stase Bank allowed to each of us a compensation, for our expenses, and trouble and responsibility, ofsixteen hundred dollars only, which we then, and still deem, totally inadequate compensation,
 Yours,
 CHESTER ASHLEY,
 [. ?. BERTAND.
 Sixihiy-s. The conversion of the funds,''