Litchfield enquirer., 1858-09-16

Ing 10 us. we were aC one time Tn the ha bit of transmitting to my father blank drafts on the Park Bank for him to fill up to suit his con- venience. Afterwards left draft for $5,O0O to cover advances made him on call My father once let one Cullen have some $l2,O0O of our money on his personal security. know Cul. lem to be perfectly responsible.
 MT. Rumsey had some $10,000 or $12,00O of the hank, from the start then Mr. Warren Beeman came forward and took Mir. Rumsey's liabilities upon himself The money that MT Runlsey had of the bank was lent him on notes endorsed by persons that knew to be good think MT. Beeman to be perfectly good, though know there are judgments against him that can be bought for 25 cents on a dol lar. MT. Beeman has said that MT. Rnmscy made $3,0oo out of the arrangement between them
 There were $46,0 900 in bills, collateral for loans made us when we commenced redemption at the Suffolk Bank, in the hands of parties who could have put it in circulation at any time they chose.
 THURSDAY, Sept 9.
 Cannot state what amount I represented to MT. Moves on Saturday last, to be on deposit in the Litchfed Bank cannot tell how much we did have on deposit at that time cannot tell within & 900. Did not tell MT. Moves that we had $2S,22 on deposit at that time. Of the amount due oerositors and banks, at that time, about $l ,00O were dne depositors ; the balance was due the Hurlbut Bank and in. dividuals $8000; the Connecticut Bank of Bridgeport $5,000; J. H. Burton, 5000 (this is money that We have borrowed, and credited as deposits ) borrowed of Srafford, Clark X O.. $6,OOO, and gave them $l5O0O for the $G,000. They lad right to circulate only what they paid for. Trey have given us note for the balance of $9 O0O which is in the hands of Dunbam. Nesmith X Lansing, for collection. l do not know when the note is dnp. l never saw it. There is credit for sG,000 to Spafford, Clark X O., on the hooks but nothing in regard to the $l5, ,000. Do not know where Spafford, Clark x Go. are. They are located out West somewhere. There arc Sl0.O0O of onr currency in the hands of A. J Brown, as collateral fur 5000 borrowed by us of him. That note wasa part of our assets at the time of the examination by Mir. Moves Dr. Beckwith had the note in New York at the time, to cancel our indebtness to Mr Brown We had at that time $7 900 on deposit in New York. On that day we had drawn $1 100 anri afterwards $1,30O on that deposit After drafts for $l 900 and $l 300 on Dunham. Ne smith X Lansing, there were still $7 900 in their hands The exact balance in their hands now is $6,900. J. H. Burton has $7 900 of our currency, for which he gave us note for $5,0OO.
 The three firms named above have in their hands $32.00O which they could put in circnla- tion at ary time These parties were not to pnt these bills in circulation except as fast as they paid for them. We thought it the best way to get our money into circulation. Do not know how long the firm of Durham, Ne smith X Lansing have been in business in New York. first heard of the firm within GO days understand they are worth $45,00O. cash paid in, but do not know of my own knowledge. knew Mir. Dunham never knew either Nes- nith or Lansing. Know that Nesmith & Co., failed recently, and could not pay ten cents on collar Do not know that Nesmith belonged to that firm
 l supposed there was about $2 800 in specie in the bank Afterwards counted the money and found cn'y $1.974. After the injunction was served, we did not attempt to draw any money from New York, nor did we redeem any of our bills. Do not know what proportion of our present loans are to parties out of the State The account of onr assets given to MT Moves last Saturday morning, was true. In addition to the list of notes that gave Mir Moves, there are $l6,000 of paper past due, of which gave 10 account 1 did not know of it until after wards. Do not know whethert the endorscrs on this (Bceman) paper were good or not. The endorsers were not notified, nor the notes pro tested. We wished to have all the Bee man paper mature in order to foreclose the mortga- ges. $ $ Stafford, one of the endorscrs, know Do not know whether he is responsible or not except from what Beeman told me.
 Had some Connecticut naEes on our paper Some of these notes were due last July, of which fact the endorsers were not notified. We had note of John Johnson endorsed by George Seymour. l cannot tell whether it was ever paid. Cannot say ifany of the Beeman paper was ever paid when due. A good deal of it was endorsed in Connecticut think about half of the whole was endorsed by Connecticut men. l think most of it was protested
 Rumsey and l paid nothing for the charter. Did not go to Litchfeld with bonds to offer for a bonus. did not go to Litch6ed with secu- rites that were refused for the charter took some Horizon and Milwaukee bonds, and tried to borrow money of Mr HolIister on them - Could not get it. The first man met in Litch- field was MT StHrgis. I saw MT .Sturgis in New York before I went to Litchfeld. I did not send him to Ltchfeld. Do not know whether MT Rumsey sent him to Litchfeld or not. Mir Rumsey furnished the monty to pay the first installment on the stock. He never paid dollar in my presence for any other pur- pose The $1O,000 was borrowed for the pur- pose of paying the first installment. I may have written to Mir Rumsey at the time of the change of the officers, advising him to consent to the change because we could both get money better I saw him on the subject. He was not stockholder. Have hypothecated two of the Beeman mortgages, to the amount of about ten or twelve thousand dollars to Mir. H. alol ,Lox oe ia