Kanawha Valley star. [volume] (Charleston, Va. [W. Va.]) 1856-1861, 1858-02-16

oEEDEN, WRITER'S, " Cos GEBf TO
F1Re1ss1A IS. S. Baxter, ESQ. has re-
Gently made 4 report to Virginia Board
| ofPubiic Works on the claim Of the Com
monwealth against Selden, Withersl& Co.
for. the sale Of State Bonds. The report
occupies three columns, and discloses an
Insolvency which no one appreciated
IIwhen that concern was Haunting its ored-
Eit in gsla day style. III the shape Of Ex.
Ichange Bank notes
The whole cash capital in the house
was only Sa5. 600, and Ches-
lepeake & Ohio Canaf Bonds bearing on
their face the value Of $50. eco.
In 1851 eachsof lie four partners drew
from the house st, 900 as psofits--iA all
500, 600, WHICH added 70 unavailable
cash bondsamouhtihg to sz83, 600,
principal, with interestfrom July 2,1G52
made the total, sunk and Withdrawn,
in one years operation Of the honse. over
$500, 900 on ascash capital of $4,000 !!
The firm was changed on the 7th Of
June, 1855. BY Mr.. Seiden's selling bus
70 Mr.. Carlisle Whiting for $40, oOo, but
continuing his name as 4 partner.
In the years ] 1852 Sd, Messrs. WSth-
ers, BaYne, Latham, and Whiting, wiih-
drew, in equal portions. $50, 900 from ihe
firm, in the name Of profits.
This, with the $50, 600 wiihdrawnin
1851, made $50, 600 withdrawn IN the
form Of profits, being $4,000 more than
the nominal capital, and $4,000 more
than the cash capital.
Truly an interesting review Of tie
beauties Of private banking. as exempM-
fed by the firm known as that Of Selden,
Withers d Gcs,
Tie debt due The Stste Of Virginia i
put at S485,5l1,52. Mr.. Baxter enh
merates the various amounts which. lie
thinks can be collected Of the firm, and
credits them. having sum totally unpFo-
Iyided for,,Fof $685., 5If52, II
Mr.. Baker thinks that the parties
ottglt to contribute at least $500, 200
promptly 70 llis debt, Independent of all
securities heretofore given.
As to the parties ability, Mr.. Baxter
says iMessrs. Whiting g Bayne ara mot
able TODD anything. NJ Latham issre1
ported in the same class at present. Nj!
| Withers is believed to beworth an amount
exceeding 500, 900, and Mr.. Selglen
more than 100000.
II Immediate suit is recommended By
Mr. Baxter against the solvent partners,
in order that Virginia shall obtainsher
just debt. Half a million would Be 4
comfortable sum to even the State Of AFif-
GINA just at this time.
Law OF up oKER" IN GAuIroRSfa4 Al
suit was recently brought beforea justice
Of the peace in Yuba county, California,
for the recovery of seventeen dollars,
which a man had woirof another, or Eath-
er got possession Of, by "blufffng, . while
fhe had four jacks. The MarysyilIe In
quifer says the court 'ietherself loose
on the question. and held that whore a
party coolly and deliberately ..bluHed"
the holder Of q small winning hand ont Of
his money, it might be considered down
night robbery, and be punished as such !;
but the court stated that while it punish
ed the party. who would be guilty of such
"blufing. I" il had no projection orniercy
for the man who. ike the plaintiff ii the
case, permitted himself to be blnffed
with tours in hand I Such man, ii the
opinion of the court, should not only
lose his seventeen dollar ..pot, but re-
.eeiye the jeers of every good poker player
L & z5s