Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1858-05-30
TEE EXCHANGE BANK OF TENNESSEE

s8Is,0 0l7 50
LIABILITIES.
Capital St14k.....--..... sal s 900 90
@ @SIea a5ion,,.' ial, ''.'''-..' asI 90 90
Due 10 bauks...-.-s..... g2no co
individual Depositois.... 81 500 co
Interest Aooount,......-- l5722 ...ss46 O27 50
". SPENCE Presidenf,
KURFHEEsBoRo,' Tenn, July Isi, 1877
I wish now to call attention to the great TO-
justice done me by the publication Of Col.
JOhnsOn's card. The above is my July state
meut. Col. johnson asks the editor of the
UHiOE to pablish a statement prepared by
James Morton, which statement is as follows
STATEMENT SENT TIE coMAIrrE, AccoRDIEs 10
TIE JULY REPORT or 1IR. sPEHcE, MADE on OATH.
Bonds On deposit s2si .9ds 3
Ad1itonal oHpgsl t..-.-...--.--.....--. 3 ouo %
ssi5,s5s 81
Since that report. there has been delivered
By the Comptroller and Mr. Spence TO The
BSnk Of Tennessee, 10000 60
.i55,55s IS
Nj. Spence also left On deposit in the Bank Sc
collateral sec1rity which he received from
the COmptroer, n 900 %
sS1 s5s s5
Bonds taken up and nstes burned BY Comp
troller Dunlap % coo 90
SECOND STATEMENT.
Ths CoHptroIler's report In October last.
uunbT Ct bonds On deposit for Exchange
Three 6cnss sdded as stated ly L1tfsIi,.... 5000
sI15ooo
Paid by the Bank Of Tennessee IN his notes
and bonds surrendered BY the Comptroller,
December 3oLh5 Sf2OOo 80 ooa
February 2nds.......... i0OooS
SI.O0o
Bonds surrsnsered By Comptroller Dunlsp,
ami notes burned, $500
The above starts out, a" statement sent the
committee according 70 the July report Of Mr..
Spence made on OATH
Is this so ? Does not the report show that
also swore had 10l bonds not on deposit in
the bank as security for circulation, which
obtained before the 1st of July BY returning
circulation; re-tepOsiting when the Comp
tTOller gave me $4,000 in new notes and about
a like amount Of old issues which would do to
! put IN circulation again. The attempt is made
to account for the bonds reported in July, but
only part is taken, leaving the public TO infer
| thatthe balance were frsudulently obtained.
claim over one hundred thousand dollars more
| In my July statement than Col. johnson ac-
counts for. Il is in proof before the commit
tee that few days prior to the first Of July,
stated to Col Luttrell, Comptroller, that /
wanted 10 reduce nv circulation. Col. Luttrel
states that | did deposit with him a large
amount of circulation 30 as to withdraw bonds
cannot recollect the precise amount-but
knows that be issued me fifty thousand dollars
] Of new notes, and that the balance Of the cir
culstion that gave him be returned to me,
which was about as much as he gave me in
new notes. He cannot reeolleet my taking
away the bonds, but says he was not in the
| habit Of keeping bonds Of free bank as an
I investment, and felt il bis duty to give up the
/ bonds when the notes of any bank were re-
turned him. Il is hardly possible that would
have returned 50 large an amount Of notes
| without taking up my bonds. 1t is, however,
unfortunate for me that Col. Luttrel's reeol-
I lection is indistinct on this point. He, how
ever, states that be gave me $4,000 Of new
| issues and returned ne about the same amount
in the issues / gave bin. Does not this ac-
count for the l01 bonds of 81 600 each, re-
ported in my July statement?
| asked Mr. Morton il be did not 90 to the
box Of the Exchange Bank and take out Al
bonds Of 81 600 each, in the absence Of the
| Comptroller. on an order had given him FOR
that amount? Hereplied in the negative.
Col Luttrell states that Mr.. Morton showed
him an order, but that be did not give him the
bonds then, and has no recollection Of ever Civ
ing them to hin siuce. The order ] gave Mr.
Morton is still in his possession. Col. Lut.
trelI knew this order was given him for tbs
bonds.
Il was bis authority for giving Morton that
amount Of bonds, whenever be returned cor.
responding amount Of circulation. He did moi
have the circulation when be exhibited the or.
der, and as Morton subsequently, toid me nt
needed the bonds for some purpose, and tool
them, as the Comptroller was absent. ThiE
Mr.. Morton denies.
Il is not certain, If Col. Luttrell was present
when be got the bonds, that the order would
have been presented and given the Comptroller
But Mr. Morton says: Col. Luttrell and ny
self came together, and be did not think i
worthwhile to give up the order" Col. Lut
trell does not sustain him in this statement
Why not give up the order? II. | had beer
present I should mest certainly have called foi
It, and not have left an order for 81, 600 bOndi
outstanding against me; and Mr.. Morton woulS
have presented the order-hsd Col. LuttTel
been present-ss authority to get the bonds
The story is improbable, and but for an anxiety
to show that no one ever had access to th'
bonds but the Comptroller, and that no Officer
Of the bank REGARDED any one but the Comp
trolier as the legal custodian OF the bonds, b.
would doubtless have admitted to others, as b.
has done to me, that he did take the bonds
without calling upon the Comptroller for them
as he had nv order for them.
Every note now in circulation is Prima faci
evidences that bond is on deposit for the seeu
rity Of that note. The public must Judge wha
has become Of the securities ! deposited.
The Cashier Of the Bank Of Tennessee enter
the field early TO show that bad committed