Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1854-11-04
A FICTITIOUS BANK EXPLODED.
FROM THE NEW YORK EXPRESS OF SATURDAY.

FICTITIOUS BANK Exploded.
FROM THE NEW YORK EXPRESS OF SATURDAY
At the commencement of the week information was
given to the Chief of Police that swndng operation
being carried in this city No. 60 William street.
termed the Merchants Exchange Bank from which had
issued bills to very large amount, which circulated
West and South and that the pretended bank had
but upon the face of the paper they had issued
The matter immediately placed in the hands Of Mr.
Mcclellan (clerk to the Chief Of Polce who
cessfu about year ago in breaking up the operations
known as the Farmers and Merchants Bank of George
town and the Merchants Bank Anacostia Mr. Nickel
lar associated with him officer MCPHERSON, Of the
Chiefs aids.
The bills are headed Merchants Exchange Bank, Ana
costa District Of Columbia, and signed by f. E. Cur
tbs cashier and H. Dewey as president and printed
endorsement the front Of the bills Redeemed
at the Bank Agency, 90 William street"
From an affidavit made by Fred E. Curtis Of No. los
Third avenue appeared that between the 1st and the
10th Of July 1854, person named Jones came to him
was b~ak abont ts
that they desired to have him as cashier An nquify
and ar e. as
ton Mr.. Curtis after consulting his then employer
agreed to take the situation and went to No. go William
street, where he introduced to HoIdenge Dewey,
Leonard Westbrook, Alfred HYDE and another person
whose he did not recoect the persons who
about to institute the bank He sted his business, ac
cepted the situation, and immeA tey set to work to
sign the bills cashier, which he di the amount Of
$40 900. Also that oil the bills werey lade and signed
in the city of New York. and that there is such bank
in the District of Columbia The bills also signed
by Dewey president, and circulated most extensively
in the West
Mr. Geo. G. Jones' of Cincinnati, agent for the Cpcn-
natl Little Rock and State Company deposed that lie madea
contract with Mr. Dewey who agreed to purchase
worth of stock Of company with the
ing that the payment be made in the notes OF the
Bank. $4,000 paid, and Mr. Jones agreed to crcu-
late them in Arkansas upon the understanding that when
presented they to be redeemed and that the bills
should be quoted in Thompson's Bank Detector the
same footing other country banks This was after
wards varied was stated that he did know whe
her he could get inserted there but would try but
that an arrangement equally effective would be made.
William A. Finoauld, 30 Wall street. treasurer Of the
Haverstraw Iron and Mining Company deposed that
the h September 1854 he made contract with Messrs
Dewey, Wesbrook, and Hyde for $4,000 of the bills;
So, 900 Of the bills given and two checks for
$500 and the other for 81 800 The first check pre-
sented and paid; the other dated days ahead
but was subsequently exchanged for other bills.
Wm NJ Arnold, Of 80 Wall street, corroborated the
statement of Mr. Fincaud and stated that contract
entered into by Mr. Fincaud and person who stated he
the counsel of the bank and the bills given consisted
ONE two and three dollar bills and that he paid the bs
to the workmen employed by the Haverstraw Iron Mining
Company, and across the bills printed " Redeem
able at the Bank agency, 60 William street. but on pre-
sentiment of the bills at that address they not
deemed and that he had 500 of the bills which he pre-
sented to Mr. Dewey for redemption, but who said he
could redeem them them but would the following
day. which done, and that he went several times,
and finally he got SIT worth redeemed That on the
morning Of the 26h of October finding the bills not
redeemed he went to the Office Of the Chief of Police he
having the previous day been there and made state
men when he met there and called aside by Leonard
Westbrook who said if he would go with him to the
Of Leonard street and Broadway he would give him
the money due him the bills He with him, and
when there he paid by Westbrook in money and
the amount of his claim and that at prior time
conversation Dewey had told him that he had beentc
Anacosa and stuck up sign.
VIM knight, of Haserstraw, deposed that about the
1st of September 1854 he received Sf00 Of the bills
from the Hayerstraw Iron Mining Company, for debt
due to him from them and that he presented the bills NJ
No. so William street. when payment was refused and
that he has been able to get the bills redeemed
Information also given that large quantity Of the
bills were about being sent West.
Officer Mcpherson dispatched to the establishment
in William street to arrest the parties and bring to the
office Of the chief Of police all the parapharnaa of the
business On the arrival Of the officer there he found
but brought onshe iron safe of the bank which is
said to contain all the issues Of the bank in their hands
warrant then issued for the arrest Of the parties
and yesterday Leonard Westbook arrested being
searched STA in ST. s. and $3 bills of the issue Of the
bank found six dollars in good money and sundry
papers also found, and letters which identify him
with the concern, and $500 check given by Mr. Fin
cauld the Haverstraw Iron Mining Company. Thc
of the check is explained by the refusal Of thu
company, the discovery Of the fraud to honor the
The was for the issue of false tokens
Leonard Westbrook then locked for examination
I'VE have repeatedly cautioned the public Mt distance
against taking the of banks purpotng to be located
Washington, with Office here, but with agencies at
distant points The established Banks in the District OK
of Columbia are Bank of Metropolis Bank of Wash
ington; Patriotic Bank; and Farmers and Mechanics
Bank of Georgetown There various private banks
of which we call to mind only three that have
notes in circulation viz the Exchange Bank of Seden
Wihers & Co. the Bank Of Commerce. Georgetown, and
O. W. Pairo The notes OF the Corporations Of George
town and Alexandria are current here for home use
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