The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1847-10-23

the certltlcate was refused, but the certificate
was issued and delivered to the Commissioners
in May 1886. Without the certificate the
Brandon Bank could not have gone into ope-
ration. The witness further stated that the
Cashier and other officers Of the Commercial
Bank admitted that the certificate was ticti-
tious-but that evidence was ruled out by the
Court as incompetent.
The withess further proved that in 1887 an
arrangement was made between the Branch Of
Of the Continental Bank at Brandon and the
Brandon Bank and Continued until the latter
part Of 1888, as follows:-The Commercial
Bank was to receive from the Bfandon Bank
the notes Of the latter Bank and pay out the
same on discount Of notes, and an open acl
count was kept by the Brandon Bank against
the Commercial Bank, who was charged as she
got notes out Of the Brandon Bank and cre-
dited as she returned them, the Commercial
Bank having the liberty to check, and did in
that way obtain from the Brandon Bank a very
large amount, probably 100000, (four humid
red thousand dollars from first to last.) The
object of the Brandon Bank in this arrange
ment was to sustain her credit; the CONNER
cial Bank being pledged to receive her issues
at her counter at par, and the Commercial
Bank being in good credit and generally be-
lieved to belong to the United States Bank, it
gave credit to the Brandon notes to be so re.
celved-and the Commercial Bank was to have
the use of the notes Of the Brandon Bank to
pay out when she discounted notes, which was
done to a very large amount. This arrange
public, and when ascertained by witness, who
was a Director Of the Brandon Bank, was OBJ
jected to by him, but he was overruled; and
there was a considerable balance due the Bran
don Bank from the Commercial Bank on this
account when witness ceased to be a Director;
but was afterwards paid in Bran don money
when it became almost worthless. This ar
rangement between the two Banks was carried
on, for the most part, after the notes Of the
Brandon Bank had become greatly deprecated
and after said notes became much below par,
the Commercial Bank at Brandon refused to
receive them from those who had received them
from her on discount Of their paper. One
Hyams was the Cashier Of the Commercial
Bank at Brandon, and this arrangement was
: first made betweeh@him and Shelton, without
8 the knowledge of the other officers Of the
, Brandon Bank. Hyams was a faithful officer
i and had the entire confidence Of the CONNER.
cial Bank, the mother Bank at Natchez. He
was in the habit Of making monthly reports to
the parent Bank. The witness further stated
, that Brandon money was in good credit in the
spring and summer Of 1887, was received by
the Sheriffs in this section Of the State at the
J spring and fall terms Of 1887, and by some
E Sheria's in the spring Of 1888, because at the
/ latter period there was scarcely any other mo,
I ney to be habitat the Commercial Bank con
= tinued TO loan it afterit had become considera
: bly, Deprecated that witness always knew
that Brandon money was worthless, although
e if the debtors of the Bank had paid the Bank
G her notes would have been redeemed--but sht
r was started on too small a capital to JUSTLY
o the belief that she could redeem the amour
issued.
1t was proved by another witness that in tn,
month Of February or March, 1888, his son OBJ
tanned a discount at the Commercial Bank, a
10 Brandon, in Brandon notes-that witness wa
lf security on the note discounted, and when tp
note fell due, which was some time in 1888
id witness went to the Commercial Bank at Bran
don and rendered payment in Brandon notes
as the Cashier, Hymns, refused to receive them
ID stating that they were worthless, and he hO
y. always known them to be SO. Witness hay
l. ing confidence in the managers Of the Bran
don Bank, and believing the notes to be goot
Ii debated the point with the Cashier--but h
repeated his opinion, saying that he kneV ChO
1t he said-he spoke adUised!y o te st@ecs VIII
it ness stated that soon after the establishment 3
C. the Brandon Bank, every thing rose enormous
ly in price, and by way Of example, he state
that Shelton sold town lots in Brandon wort
e, previously abont $1,000 for $4,000, and sti
III kept about one fourth Of the property--he sol
0. witness a piece Of this property, worth, 0
err furthest 5000 for $4,000, on cIcdit--that She
e. ton paid $1,000 for a negro woman worth abOu
IN $4OO, &c, &C.
o.. II was proved by other witnesses that abou
10 May, 1888, Brandon money was at discour
in New Orleans Of 40 to AS per cens;--bu
that about that time it was generally receive
to in payment Of debts by the public here, be
ne cause there was mother money in circulation
n. except that and other Bank notes Of abou
r. equal value.
ID 1t was also proved that some time in tn
n winter Of 1878 the Commercial Bank
III Natchez sent up TO Canton (where the not
he sued on was discountedO a considerable .
es mount Of Brandon money, which had been r'
O. ceived by the Commercial Bank from the I'm
is ted States Bank upon the sale Of her bonds I
IN the United States Bank, and that this none