The true Democrat., 1856-05-20
From the Memphis Appeal, May '. The Cincinnati & Little Rock Slate
 Company Case.
We continue the testimony in this case:

eraton or SlI, ,oOO; Mir. True called several times; witness stated to True that he would dc nothing Tn the matter until all the parties were assembled, when he (witness) could consult and have the thing properly arranged and agreed upon; True stated that the whole circu. laton of the concern amounted to S196, GOO of which Sl83, 900 had already been redeemed leaving balance outstanding unredeemed is sues of the bank of SIP 300 still in circulation l was to pay him cash or its equivalent, had acceded to his terms; he said that if 1 would advance S12, 300 he and l would control the bank, or l might put in man of my own; thought there was an anxiety on his part to sell and 1t created suspicion in my mind, he then offered me sealed package containing notes to the amount of S1O,OOO, which was not to be opened for ten days, and then l might open it and put the money in crculation; in the mean time was to advance the $12, 800; think this was two or three days before the arrest; the in- ference in my mind was that the sealed package contained the notes of the company; when asked him what 1 was to get in exchange for my SIP, 800; he replied, "al the office furni- ture of the company, the charter and the SIP 500 issues of the company went to the slate company's office on the day of the arrest; met Ferguson, Kirby and True at the office; True made some calculations on card, and handed it to Kirby; Kirby and Trues ideas in regard to the situation of the bank contlicted; 1 asked Kirby what privileges 1 would have; he said that would only have the privileges of the issue and exchange business; 1 would take the offer under advertisement; 1 saw Stickney, and told him that 1 had but little use for the bank even If 1t was in a condition to be taken hold of, that it was growing too ate in the season; MT Kirby always gave me a very clear, candid and correct statement of matters, whenever conversed with him; asked MT. Kirby if he would state candidly of his own knowled ge the condition of the bank and he replied that at present it was unsatisfactory; 1 told them that l Trad understood that the circulation was S12, 300, and wanted to know; told him that had paid dearly a few years since for experience and that 1 was not in the habit of doing things unless 1 had some knowledge of what 1 was doing; Mir. Kirby said that True or anybody else who became interested had to indemnify him against loss; they would have to give bond so as to secure the company; 1 heard rumors in regard to the concern; True was the man who solicited me to buy; Stickney said thatit mi yht be made good concern; omitted to state that l was to get the quarry. True told me he thought the quarry covered from three to four acres; was told that the slate could be work ed and delivered here on a good stage of water, so as to pay one hundred per cent. profit; l think that two or three parties told me this; Dyer was one and think Slicknev was another; l think Mir. Kirby came up before we parted; the con verSatiOn was in the street, the proposition to sell to me was made about one week before the arrest; sold True bill for S2, ,OOO; l think this was last November l did not know Stcknev at that time; l was introduced to Stckney some eight or ten days ago i'll the bank; there was no proposition to give me the SlS3, 800 which had been redeemed to circulate again; knew that lf got all the parties together that l could soon make up my mind as to whether l would buy or not, and the result caused me to reject; some one made the remark that the only object in working the quarry was to keep alive the charter; Mir. Kirby, think, said that 1t was ab- solutely necessary to work the quarry to sustain the charter; he told me would have no right to do anything but to keep a redeeming office in Memphis and do an exchange business under a regular license like brokers. A bill on the bank was here shown. This bill is in the form of a bill of exchange on New York; this pri- vilege was one of the advantages of the charter; 1 did not altogether understand the meaning of sealing up the $1OOOO, and not opening it for
 
 ty for managing business.
 JAMES T. BURNE Called-I borrowed S3OO of True, in December, and gave my note; he said that it was private accommodation of his own; paid S1OO on it when due and had it renewed; the second note was made payable to J. R. Moores, the indorser and was placed in the southern bank for collections; there was no entry made on 1'rues books of the transaction; I ,tl1., ,of.o l. I tl Rock slate company notes; 1 do not know whether Mir. Kirby had stock in the concern at that time or not; Ferguson paid S3OOO for Kirby during his absence; 1t was paid in banka- be funds; 1 drew the check myself Oh the Planters and the Southern bank; the checks were m made payable to R. NJ. Kirby's order; J . R. Ferguson got the checks from me; did not see the money when it was drawn; do not re- member having written any receipts; l do not know what Ferguson did with the checks, or what kind of money he received; suppose the checks were dated on the l7th and 22d; Kirby left means with Ferguson to meet his paper, and told me to get bank book in Ferguson's name; drew S3,OO0 and placed it on the books to Kirbys credit and then drew in Ferguson's name; do not know whether drew the notes for Kirby to sign or not, there are memorandum
 
 the slate company's money Ferguson & Neill have had.
 Here the counsel for the defense made mo- ton that E. w. and A. c. True be discharged. This elcited very lengthy discussion during which the court adjourned until after dinner, when it was again brought up and the motion for discharge prevailed, and E. w. and A. C.. True were set at liberty.
 | M MJ7RpUY StcO1-D --I am ocouaint tod wi h Stickney; he requested that should become a stockholder; this was about one week ago; he said it was good thing and that the com pany was amply able to redeem its issues; he did rot tell me that the Trues were d. rascals; the conversation took place two or three days before the Trues were arrested; he did not en- ter into full particulars, but merely said it was a good thing, and could redeem all its issues; 1 did not consent to come in at the time; had understood from True that there was some dis satisfaction between the stockholders, and did not wish to go in during the present state of af- fairs he told me these thingsin Ferguson's store; Ferguson also solicited me to go in, some three or four times before my conversation with Stick ney; told him in Jacksonport that if every thing was right was willing to go in, other wise would not; Stickney and Kirby did not obtain anything under false pretences; l sought an interview with Ferguson myself when came here but that was small part of my business; Mir. George Patterson handed Ferguson let ter introducing me to him three or four days before the interview; Ferguson was at his store by himself when 1 first went there; first saw Stickney last week; have been in town ever since my first interview, week before last; Stick ney came in during my third interview; Fer guson told him when he came in that he had been conversing with me about the bank, and Stickney said he would like to have me come in, that they wanted an agent in Arkansas to help circulate; said that if everything was fixed up properly, would like to go in; be- lieve that Patterson told me that the True's were slippery fellows; 1 did not speak of the Trues as though 1 wished them out; heard Ferguson express himself as though he was a friend of True's; this was the evening that True was arrested at the Worsham House, an hour or two before the arrest; there was no one in the room except Ferguson, True and myself; Ferguson did not know of warrant having been issued for True; l do not know that Ferguson feigned ignorance of the warrant +o .een True in the room. Patterson merely