The daily Minnesota pioneer. [volume] (St. Paul, Minn.) 1854-1855, 1855-04-24
Bonds for Deeds;
Quit-Claim Deeds.

We have been called upon BY THoMAs
W. COLEMAN, Esq, assignee Of CHARLES
L. PARKER, barker, and received from him
.,uch statement of Mr.. P's affairs, as a
TASTY examination Of the books and napers
permitted him to give. The deed of as
Vi :nment is to Mr.. CoLEMAN,in trust for the
payment of all owing, due, or to become
due to his creditors, in the following order,
viz: First Glass, Thomas W. COLEMAN;
Second Class, G. u. PRICE, (his partner in
The Land Agency blsiness:) Third Glass;
WHITAKER, sTARBUCK & Co., GEO. W.
HARRINGTON, E. l.. ROBERTS, Wisconsin,
NANCY ToDp, Of Dakota county, and BoRUP
II OAEEs; Fourth Glass, all general and
fpecial depositors; Fifth Glass. all credi-
tors in the Territory; !S;nth Glass, all other
.redtors.
Mr.. COLEMAN assures us that he consid-
rs himself amply secured for all advances
made to Mr. PARKER; and that in any event
he cannot be creditor of his, beyond the
value of such securities, to the amount Of
$1,000. He informs US further, that at
The time Of the assignment, Mr.. PARKER
imposed himself indebted to Mr.. PRICE,
she secondclass creditor, in some $4,000,
which proves to be mistake-his indebt.
edness being merely nominal, if anything.
Himself and Mr.. PRICE will therefore draw
little, if anything, from the estate, except
such amounts rs were originally secured by
mortgages. He regards the estate of Mr..
PARKER, worth Sal. 900. and places his en-
tire Indebtedness at $4,000. He is con-
tident that Mr.. PARKER will be left with a
surplus. Mr.. COLEMAN contends that Mr..
COSTELLO misunderstood the meaning of
his remarks to BIN on Saturday. His YER
sion is, that on the complaint Of Mr.. Cos
.EtIo, that he was being robbed by the OPP
Grafton, he Mr.. CoLEMAN) assured him
that be was mistaken, that he had not
had full opportunity to examine affairs in
detail, bu: that from the examination al
ready made, he would be willing to guaran
tee that his receipts would be fifty cents on
The dollar. Whereas, Mr.. CosrEILo's un
Outstanding was that he was offered that
percentage for bis claims.
We are very willing to spread the sub
stance of Mr.. CoLEMAN's talk with Us be
fore the public, for its information, and fol
his aud its benefit According to the rep
reservations of the assignee, Mr.. PARKEF
has been guilty Of no peculiar dereliction
beyond that pursued by many western bank
ers-that Of using the funds Of depositort
FOR purposes Of speculation. We are aware
that in this Mr.. PARKER has had illustriOu'
precedents. The same misuse Of this clas
si funds caused the failure Of PAGE & BA
CON men who have maintained for years I
high business and moral reputation. W.
have certainly no desire to cheap Goals o
ire" on the head Of any man in misfortune
hut we regard it our duty, at this time. Il
inveigh against this system Of banking, a
unsafe, aud in all its tendencies, immoral
IL is species Of gambling-risking tn
money belonging to others upon the issue
of chance. Inmany countries such dive.
- 80 <l,;o c1occ of f,,o1S 80 hol1 a mr.; ,v,o
and punishable as such. 1t should be *
everywhere The temptations are so great
with money in his vaults, and seemingly
lucrative speculation before bis eyes, thai
the banker needs moral strength almost
superhuman to avoid the snare, in which
once caught, he and those who trusted il
Rim, ars not nnfrequeptly ruined. 55
Ne 6nexninlv viah Mr. pApYpp = ssn0s