Litchfield enquirer., 1858-09-16

S116631
 consider the affairs of the bank as the most des- perate that l ever encountered. I consider the Beenan paper to be utterly worthless. The prop erty upon which the mortgages to the bank giv- en- is mortgaged to other parties for the purchase of the land, and it would require an outlay of at least $50 900 to make them saleable do not think there is any hope for the stockholders of the bank except by aid of Messrs. Hazeton & Ball, who have been recently ''roped in" If the $32OC0 of hy- pothecated bills were put in circulation it would break the bank. The fact iA that they have had Q circulation from the first which they have had no means of redeeming.
 Cross -Eaamination.-I claim that MT. Houghton's statement to me of the condition of the bank differs from his statement here I am still short S6. 900, after Mir. Houghton's explanation of the S16 GOO - There is way ofdcceiving Bank Commissioners that placticed on at Litchfeld. It is in relation to the actual circulation and deposits.
 MT. Houghton stated to me that there were S17 900 in the Suffolk Bank. There were, actually, at that time only $2,OO0 on special, and $S, 400 general deprs.t.
 The counsel for the commissioners read the statc- ment of the engravers and printers of the Litcheld Bills showing that bills of the bank were received by Houghton on tge 9th of September, or week be- fore the bank went into operation.
 FRIDAY, Sept. 8.
 C. H. Holliag.-Before had any connection vifh the bank, MT. Durham visited Litehfeld about the bank. He seemed to be good deal disturbed ;sal he had heard that large circulation was out and  of the bank to me, and asked me if thought that it was proper way of doing business l told bi,, did not He gave me good deal of advice i,, r..- gard to putting the affairs of the bank on a .,. 4 footing He then went to Hartford, and jm,n.d- ately wrote to me to come and see him l s.,,.. right on and found MT. Dunham sick. Mir NVS spoke quite freely to me in regard to if : -a;I the bank could not be allowed to go on as it ua
 went back to Litchfeld, and soon after tu J ,s,- nary) Dr. Beckwith assumed the presidency q t., bank, and was elected director. We immelia's- y went to work to get in good stockholders as sfst IS we could. tThe witness mentioned nuinlcr { names, amongst them the two Colds who gsvc notes for the stock.) Amongst the farmers we could get negotiable paper, but took their d' bills for subscriptions Messrs Moves and Duil m visited us again, and objected to these due | lf; told us we must get negotiable notes for them sid reduce our circulation immediately. I do not know and never knew what our circulation was Soon af- ter this, the New York detectors came down upon us to crush us, though not think they told any lies about us, and were thrown out of the Park Bank Mr. Moves came to see us, and said he had been blamed by the public for letting us 10 on: that we must get into line at the Suffolk Bank must get money to do so. Soon after saw Measrs. Iazleton and Ball, and they came in, after Q thor ugh examination of the affairs of the bank parfi ularly of the Beeman debt, and took s3O.O0O of tock. Immediately after this arrangement was ompleted the bank was enjoined We had arrnn- ed to reduce our circulation to pay of our debt of S4, 95l. and it had been arranged that Mr. Harle- on and Dr. Beckwith should attend to the Beesnan ebt. At the timesof the injunction, they were in few York attending to it.