The true Democrat., 1856-05-13
NO. 3l..

redemption of notes. Witness did not ap prove of True's course, but thought he was stealing the money of the company. He did not negotiate the Kirby note. The money was received from Cherry on one of the Kirby noVes' ltwas indorsed by witness and MessTs. ferguson X Nell at the instance of True "uess might or might not have suggested 'he ',,uorsement. Witness was secretary and signed hls name such. Admitted that he had asked Cherry to quote the slate comnanv,s notes at par. Did not know that Kirbvis note was negotiated until it was done AS parlv as February last, witness had issued letter of credit, and signed himself secretary.
 The examination lasted from o'clock in tbe afternoon until o'clock next morning, irvine to get a settlement with True. They had liquor. When True signed the papers the doors were thrown open. True had agreed to sign what should be written. Kirby had charge of the office that day. Books of the company show that 1t has been indebted to him all the time. Witness did not keep the books He was only secretary and kept the records. Had been acuhg as secretary since the 17th of April last and had acted as secretary of voluntary assoclation some time previous True did not make correct entries in the books, and witness gave some specifications. The checks or cer- tltlcates Of deposit issued were in the name ot the slate company. Had given Mir. Ire zevant check book for the company. True had presented draft for $l,750 on the com pany, which was protested. According to True'S account on the books, if they were cor rect, there Is balance due to True, though witness was confident the account was not cor rect. Knew that True had exchanged the companys issues with several parties. The money was marked by True to ascertain, us he said, how 1t circulated Never saw any exchange made with Mr. Spencer Five hun dred dollars was deposited by defendant in gold on the 18th of February True again drew out the money. The counsel for the de- fendants here proposed to read the annexed let ter, which was ruled out by the court:
 Memphis December 28, 1855.
 have this day received the indorsement of L. D. Stickney and Ferguson < Nell, in two drafts, drawn by W. R. Smith, cashier on 4. C. True, dated Little Rock, December 16, 1855, for $2OOO which is to pay G. G Jones in full for his interest in the Cincinnati and Little Rock slate company and also to get possession of the books, stock, plates, and every thing pertaining to said company in the hands of said Jones; all for the parties aforesaid, viz: said Stickney and Ferguson 6c Nell. Neither nor the acceptor, A. c. Ttrue, to pay said draft. And it is further agreed, that L. D. Sdckney, J. R, Ferguson, J. Q. Neill, J. H. Policeman, E. F. Burr and each to have an equal interest with me in sade slate company. they paying me in addition to the S3,5OO to Jones $500 for all my stock and interest which with Jones will not be less than S12OOOO, nor more than $13O,OOO.
 Of the above $8OOO, $2, 300 has already been paid to me out of the amount received from Josiah Locke; the balance $500 to remain bebt against said company in my favor, and paid to me as fast as the profits will permit. It is, however, understood that $1,OOO due on time to Daniorth, Wright & Co.,, is to be paid by sad company when the same natures As soon as the books, stock etc, now in the hands of J. k. Jones, of New York, are received here, the company to be organized with said Ferguson, Nell, Burr, Patterson, Locke, Stick ney and myself as stockholders and directors.
 H. NJ. THRUE
 The following is the exhibit made by True of his accounts with the company.
 Mir. Ii. NJ. TRUE.
 To Cincinnati and Little Rock slate company, By cash paid old debts of the company Sl 900 45 By cash paid for labor quarry y.......... $40 80 By cash paid W R. Smiths account $50 % By cash paid II. Seymuurs account........ 245 % By cash paid Geo. $. Thayers account, - 294 s5 By cash paid H. NJ. Trues travelling expenses 6S6 % By cash for incidental expenses of otfce,.. 446 co By cash for engraving and printing bills, , 1O27 SS by cash Il. r. Overs stock, k,............. 2,500 0o
 s8,2sl ls To paid his drift order of W Strahan s125 %
 To paid his order 4. Nj. Woodruff, IA 42-239 Al
 Balance. e,................. Ss,05l r
 The court notified counsel that other business would claim its attention tomorrow, and that II