The true Democrat., 1856-05-20

me,.ts at that time; the first conversation about buying was with True, and my first instructions were from Stickney. This was about month ago. have bought for them nearly $3,OOO worth of cotton; at one time got my directions from True and his brother; Kirby and Stickney were in my office at one time, and told them they could not make any money at the prices l did not apply to True for $2OO0 for circuia- tion; True asked me if could circulate his money paying drayage and other expenses; took S2,OOO of his money to Salisbury to buy cotton, and brought it back; Stickney Was in the office at the time applied for money and he put the responsibility on True.
 | L~C. TREzEvANT S,oorn.-I bought 12O bales of cotton at the instance of Stickney; he was the first who spoke to me about it; he directed me to ship to and draw on McMahon, of New Orleans, and recommended him as an honest man: checked on the slate company bank, and my checks were honored; opened an account with them, and made my deposits there; did 1t of my own accord; this bank accommodated me; they have never had to wait for their mo- ney, it has been paid them promptly; l under stood what was doing; have since bought cotton on my own account, and my checks on them were honored; still continued to ship to McMahon, and draw on him and my drafts were honOred.
 The examination of this witness closed the case for the day, and the court adjourned to meet again this morning at 9 o'clock.
 From the Memphis Appeal, May s, The court met according to adjournment The defense, through Mir. YERGER, offered the following letters, which, after brief argument were admitted to be read in evidences:
 Memphis, February l5, 1856 DEAR A. c. -: At the rate Stickney and Ferguson are going on, getting Kirby, Ellis and Davidson into the company, on their notes representing to them that the whole amount paid in by them shall be for banking capital, do not see how l am ever going to get anything for my stock, and as they use all the issues of our company for their own benefit, l have noth- ing to do but to stand behind the counter and redeem for them, with no hope of gain for me. Ferguson and his friends whom he has loaned money to, have got at this time nearly SlOOOO of our issues, and l have got nothing for 1t but memorandum checks and Arkansas notes, on none of which can raise dollar and do not like thls way Of operating Ellis also has some S2,OOO of our issues, believe, and Davidson same amount, for which have got nothing but accounts and receipts. Locke Is the only one ln the concern that ever gives me for our bills anything that can use; and the way the thing Is going on, and has been ever since Fer guson and Stickney came into it, will in the end prove fatal to our bank and ruinous to us.
 As for Smith, if he has not stole from us over two or three thouosand dollars, 1 can assume if, and make all satisfactory to our company. Stickncy and Ferguson hold on to Kirby's $2- 900 and one of his $l, 5OO notes, do not know as could use them if had them. Of course Mr. Kirby will not be fool enough to undertake to work the quarry any more than just enough to make show It is no use wasting money on the quarry. If Kirby Is not satisfied with the quarry, bank and all, tell him he can give up his interest to me again. and will give him up his notes at any moment, and wish to God he and all the rest of them would take their old notes and leave the company. We should be far better off even if we did have to lose all Smith has squandered. shall soon hope to hear from you. Yours, as ever,
 H. NJ. TTUE.