Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1854-12-22
SELDEN, WRITER'S & cos EXCHANGE.
RANK


BANK.
Tho Washington Globe contains a copy Of the deed o.
trust executed by Mc-srs Se,den, withers & CO ION
closing their Exchiuge uk) to John A. Enysh aud wm
brother ofone OF the members {" the Ii directs
that the trustees shall apply the of the firm when
te y zed a. follows:
First, To all proper expenses Of trust.
Secondly To the redemption of The bonds oi she Yrg
ria and Tennessee R,IrOad Company amounting 20 one
hundred and ninety thousand dollars
Thirdly To tho. redemption of issued payable
be,rer in notes of Virginia bank under the and
denomination Of Exchauge Bank notes.
Fourthy, To all other creditors, including tho State OF
Virginia. equally with the ciSsscs he fully satisfied IT.
the order in which they named The third aud fourth
classes share the fund the members of said
classes racably. Any Balances that may be due the
clerks employees vi the firm to be taken of the
first class Of liabilities AMI be paid equally with the
Fences of trust.
Ii is also provided thu, the said partners shall within
days from the date o. this deed agree with the board
public works OF Virginia other persons having author
ity to act for the STATE in any Arrangement in relation
the debt due the State II shall he the du,yo the
tees in such aud upon call of the said partners
deliver the Of the State. the toni. Of the
Chesapeake and OHIO G,aal Company. together with in
tcrest coupons and i Of interest such por
ons Of them the call the said partners shall cmbrac"
in the fuilmen. OF the sad arrangement the said part.
ncrs feeling an ernest desire to arrange the deb due
State upon terms satisfactory to ALL aud consistent wit,
sce TO their other creditors, aud il sack arrange
be made within the time specified, then the deed
stand as il no such provision Us this las named
tanned in il.
The Glooe makes the following summary Of the docu.
mrnt:
The forth in the schedule attached to the deed
# trust foot up as follows:
Schedule L S565 GO OF
Balances due f;om individuals as per Ledger G
city accounts Tl1lO ~
Notes ami lis discounted 35S 45l "a
Claims in tbs hands Of attorneys, TILT 81
Total assets, Sl,o66 e65 I'll
We have had time only to glance over the largest items
in he schedule OF assets, and hnd when aided together
tno them the following;
Bones Of the Chesapeake aud Ohio Canal 1929 500 90
DOH, hide Copper COMPANY, Ii 239 81
Stock in Union Coal Company, 23,5Sl st.
Due from the members IF the firm as fol-
From L. W. Latham < Co, 1855 IS
From X. W. Llihim 10 100 o.
FROM Bayue, Wihers < Co., Sc, S99 Al
From l.. i. Bivne, GOATS "a
from BaIne Withe-I, 5000
From Il. w. Z. Whiting, Ats A
s5ss, 40 TO
Here (say. the Gosl is than half the amount
OF their schedule in stocks greatly below par if saeable
ALL aud debts owing from :'-;iute the cuup.y
70 the company The bal nce Of the assets Is
9S. The Globe adds -
1t is our opinion tina, more than 800 600, Il tina,
Hch can be made Of the whole assets put down in
me schedule and il the creditors mus, Lose largely
FOR the trustees admit that the company owes $500
IL believed that they than they know Of We
have heard from vht consider good authority tina,
has received from her, disposed g. and made return
Inc company acknowledges that il owes the folio ing 10
addition to what it owes Virginia
10 the holders Of its banks $4,000
~ u-Pv.it"is 100000
10 TIE Virginia and Ieunessee Railroad 10000
$4,000
Why has not schedul, been made by the company.
showing how much II does owe and whom 1t is owing
~on'h eihghen their creditors Very much, an might
tend TO make The IN fee! more happy than they nov do
a hnx nurt ;,.I
the company started with, and how they sunk il and
much money Of others Ii ia probable that their on,
capital was The Treasury of the United Sta,cs. TIE s.
cetfy %! the Treasury has tiktI that pu-ce from
them, which, no doubt caused their failure.
when Mr. Gu'bTis came into the Treasury Department
The c'mpiy owed 1t 100000 lie curt,ling
Immediately and We understand 60, it all back into t,
treasury before the failure OF the company.
10 g!ncinS over the s;he iuc OF ourselves we
notice the following: Johnson. Bros. Co., (of Bal.
more, We pr.'unc Osc for 'circuon account ST OOn
same firm, S"i7 o. Bank OF Winchester Va $40 uur
rotomlc Swings INK notes. 81 7uo So:k Of F,irmont
iNd.) ia *. s5OIo, ock Of Unpn Turnpike C,mpI-
ny Sl,npo Onion and Company scrip, $l,UiO.
Mr.. IL. " Litha'n pqblish9. The ioliosiug letter in
lays Clone explaining why it that lie appca
TO Lc 80 large debtor To the concern.
WAsHI:GT y, December 49, 1854.
GESTLENES VIII you do mo the favor stae IN your
paper in explanation Of the large amount charged TO Inc
by S"lden, WithCrs Co, that they insisted against nv
wishes to receive and take charge Of my securities
property, amounting to over $40 900 1, redeem nv
circulation, which amounted to over 100000 The cir
cna,ion was out, not troubling any one sud was protu
chg me some 5000 or So 900 per year. and the assets
which held were smpr TO protect il.
II DID all could u prevent the house OF Seden Wthers
Co, from making me them this debt, and thought
strange thst the house would compel me become s
debtor sgsnst my wishes. have never known similar
before.
THE operation bears peculiarly heiyy upon 1t
stopped my receiving, say IS 900 per year. aud forced
charge upon me br $4,000 per ycl thus in years
making difference sgiin't e Of the heavy sum OF $i2
Ool Sedsn, Wi,hers Co, still hold my asset. which,
when left the house. expected tina. my debt would not
OILY have been fully paid but that shond receive back
from the house portion, at least Of my securities which
had been placed in their bsnds, aud which they now
hold.
"Yours. very respectfully,
ar. w. LATHAM.
ITO TIE RDIToRs o. rHE GLoDE"
Tns Nyw CEET pieces, it 10 ssid wiz be issued from
The Mint IN the course Of few days. They oousder.
ably smaller than the old pieces and form
tive copper coin On side 10 the head OF Liberty,