The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-12-16
sons here for information on the subject, and as

sons here for information on the subject, and as
general answer TO all enquiries.
For the same reason, copy another contract, now
before me, between the bank and Thomas p st.
John and ANGEL st. John, drawn after the same
precedent, which you can publish in full not, as
you may think will best tend to the information of
the holders OF the bills and the public generally
"Ths agreement, made and concluded this fifth
day OF September, A. ID. 1919, by and between
the Bank of Susquehannah County, of the State
OF Pennsy lvania, by William l.. Post, their Presi-
John and ANGEL ST. John, parties of the second
part-Wit nesseth That the parties of the first
part, for value received, and In consideration of
the covenants and agreements herein after stpu-
| lated and mentioned, have loaned and do hereby
loan, to the parties of the second part, the
notes or bills Of circulation Of said bank, to the
amount of ttcenty thousand dollars, (s2O,0Oo }
| And the parties Of the second part covenant and
agree SO to use the notes aforesaid as to obtain for
them, as far as practicable, such. circulation as
shall best prevent their return home tor redemption.
That they will provide for the redemption of said
bills, as they may be returned for such purpose, at
the city of NewYork, and at the rate Of discount
at which the agents of the SAID bank, in said
city, redeem them,-That when 80 redeemed, said
notes shall De returned to the parties otthe second
part, without delay for circulation. That the said
parties of the second part, will keep an accurate
account of oil sums by them or by their agents, put
in circulation; and will, from time to time, SEMI
annually, report the same to the said parties of the
first part That the parties of the second part will
pay TO said bank, stmi-annually, from the date
hereof interest at the rate of two per cent per an-
mum, 1.-TWO per cent? on all sums actually In clrcu.
lation and of said parties of the second part,
and all said notes IN possession of said parties of
the second part, in the hands of their agents, or
in transit, shall be deemed out Of circulation and
not in use And it is further agreed: that the bills
| or circulating notes issued by said bank, shall
always be received by the parties Of the first part,
or their assigns, at par, or for the full sum ex-
pressed on the face Of said bills, in payment
| and liquidation of any and every Indebtedness
4 HtdPr ny rams
other thah the fault of the parties of the first part,
| the parties Of the second part should fail to re-
deem, as hereinbefore provided, the notes put in
circulation by them, fol the space OF sixty days
after written notice OF such failure, then this
tract may be annuled by the parties OF the first
part, and, therefore, the whole sum loaned to the
| parties of the second part shall become due and
payable. To distinguish the notes put in clrcua-
tlon by the parties Of the second part such notes
shall be filled with the name of David BITES, as
payee, in the handwriting OF the parties of the Sc
cond part, or by some person employed by them
for that purpose but the numbers and date (Which
last shall be September 8, l6i9) shall be filled by
come person employed on the part of the parties of
the first part-no other notes or bills OF circulation
Of said bank being filed up now, nor shall any
other notes or bills OF circulation be hereafter
filled up with similar numbers, date, or name of
psyee, except as herein after provided And for all
old, worn, mutated notes returned to said bank,
by said parties of the second part, new shall
be given in exchange, to an equal amount, and filled
up in a similar manner-and such returned notes
shall be immediately, efiectualy, cancelled or burn
cd. 1t IS further agreed, mutually, that this
contract shall be and remain IN force (uness for
feited, as herein before provided) for and during
the space of one year after the receipt OF written
notice by the parties of the second part, from the
President of the Bank Of wish, the part OF the
bank, to discontinue the arrangement herein made
and, TO prevent misconstruction, II Is hereby de-
clared that this agreement Is SIMPLE contract tor
loanlpg money, and In no wise TO be deemed or
taken as establishing an agency. Witness, the
signature OF VIM. L. Post, President OF the Bank
Of Susquehannah County, and the seal OF the corpo-
ration and the hands and seals OF the parties of the
second pant, signed in duplicate -
wM, L. Posr: President oessssSl &c ot
S O. Bark OF sa'aush'nn' S,hs Bank o
r. ST. JOHN. lSesi
A. ST. JOHN seal
witness to VIM. l.. Posts and)
7. 2. St Johns signatures.
&C. HALsEY.
Witnefs to the signature Of
Lrwrs B, Butler
II will be seen that the foregoing contract was
formally executed by both parties. There were Is
sued to ANGEL end Thomas ST. John, IN pursuance
OF il, four thousand bills Of five dollars EACH In
sheets, four bills sheet, lettered A, B, G. and
ID, and respectively numbered, CONNER clng al TO-
600 and ending at III GOO, ell dated September D,
lSi9, and the name Of the payee, "Davld Bates"
TO be filed up by Thomas Z. st. Johp. There
are no other bills OF the bank out, OF the same
description, either TO dates or numbers, or name
of payee, so that whether the name OF the payee
10 suppose IL was not) they can readily be denti-
fed. Ihese bills were all signed by T.. II. DE La
matter, cashier. On the first of November, $4,000
Of these issues were returned 10 the bank, leaving
out $4,000, which the ST. Johns are bound by
their contract to redeem. These bills, added TO
the s77 COO, which Seth III. Mann is 10 pay, will
relieve the community of $4,000 of the circula-
ton OF this unfortunate bank.
Ia my former communication have mentioned
the contract, similar TO the foregoing, on which
Cj,eO0 was issued 10 Egbert A. Thompson,
o. Cincinnati These bills can be identified by
the letter &c" inserted on the face OF each, over
the letter q. IN The word Susquehannah. | have
not gwen copy Of the Thompson contract, be-
Gauss II is transcript from Mann's, merely chang
ing the name and sum TO be issued. IL seems,
from De Lsmatier's deposition, TO have been drawn
up by him. IN Cincinnati, IN June last, AZ the re-
quosl Of Thompson; he, De Lamatter, being, at the
time, ceIk IN the employ OF Nj. A. Bradley ~
Co, ct CINCINNATI, as a bookkeeper. lie gives the
following account of it-That, 10 June last, Thomp-
son informed him that he had made n bargain for
the purchase Of the control OF the capital stock OF
the Bank Of Susquehannah County; that the bank
was to enter into contract with hum, tor the
loan Of ninety thousand dollars of Its circulating
notes. to be used IN the Western country. lie
handed De Lamatier an old contract, that had
been cancelled, for n precedent, and requested
hun TO draw two like il, altering the name and
sum, which he did. The next time, he saw
one Of them, il was IN the safe Of the bank, after
he was elected cashier ; and the other. which was
a duplicate, was found among some papers Of the
Il
| him that the old contract used as a precedent,
was handed TO him by Thomas or ANGEL st. John !;
he didr not recollect which. However, IT i be
| thought material or necessary, | will cheeriully
! furnish cory Of Mr. Thompson's contract, as the
| original ls now IN my possession.
! cannot say that any facts have come TO my
knowledge which would evidence an Intention on
the pert Of any either OF those gentlemen, TO act
! Otherwise than honestly in the redemption Of the
large amount OF notes put IN circulation by them,
under those three conrects-it beng sl5i,OO0, yet
out-the larger part OF which, Il is believed, has
been circulated IN the Western States yet. when
il Is consderedi that the facility Of purchasing
those notes at a large discount which present err
cumstances offer TO them, may prove too great
temptation for human irallty to Withstand, hope
| fhal be excused for putting forth thus dull and
tedious communication. My next, which will be
| my last, may be more entertaining, although not
| so useful to the holders Of those notes.
| The following CON muncation appeared In the Gin
cinnsu Enquirer Of the stb inst with rcquest TO the
| Nep Yefk Herald to copy;-
In Of he inst ptibl m ms q.