Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1859-03-24

} informed Mr.. Breslin that had deposit witt
f Mr. Chittenden in.New York, and asked hin
how he would prefer to receive it; wketherhe
would take my check, or whether should col
lect the money. Soon after this Mr. Chittenden
came to Columbus on his way, think to New
York from Tennessee. That he was at Column
bus by my solicition or appointment, or for any
particular purpose that l was in any sense a
party to, Ideny. He had been acquainted with
Mr.. Bresln at Tifhn, O., and his object was to
renew that acquaintance probably, and also to
try to make some arrangement by which he could
be one Of his depositaries in New York. l very
likely expressed my conviction that Mr.. Chitten-
den was good, and doing prosperous business.
thought told the truth, and think so now
But deny that exercised over Mr.. Breslin any
undue influence whatever. believed Mr.. Chit
tenden had made his arrangements to pay the
deposit if required, and 1 supposed in coming
to Columbus he was influenced like other bank
ers who wished deposits. Mr.. Chittenden made
his own arrangements with Mr. Breslin and Mr.
B. received of him certificate of deposit for
the amount which was afterwards as under
stood, made matter Of account If the COM
mittee or Mr.. BFeslin wish to have it understood
that was in any sense party to any arrange
ment between Mr.. Chittenden and Mr. Breslin
any further than to express my opinion as to
Mr.. Chittendens solvency, they are entirely
wrong. | considered both gentlemen qualified
/ to attend to their own business. Its true as Mr.
Bresin intimates, l had strong personal reasons
| for not misleading him; and no consideration
would have induced me Intentionally either to
deceive or mislead. 1t cannot be, l think, that
be believes l intended so to do Although l do
not remember that knew Of any definite ar
rangement for the money to remain until the lst
of July of that year, yet such an arrangement
may have been made, as was frequently done
to provide for the payment of the semi-annual
interest Now on what principle is it that am
to be held responsible either morally or legally,
for this amount after Mr.. Breslin had received
it? 1t was certainly beyond my control. If
my responsibility continued any longer, when
was it to cease? What could do to relieve my
self from it? had deprived myself Of all pow
er in the matter by transferringitto my successor
and yet this commission would hold me respon-
sible for an indefinite length of time.
But why was that deposit not paid in July2
Mr.. Chittenden was then doing large business
and had large credit. 1t does not appear that
he had at any time prior to this asked for con-
tinuance of the deposit. It is not to be presum-
ed that he was prepared to pay it? OF course
Mr.. Chittenden like any other banker, would
not required but it is well understood that
refusal to pay would have been equivalent to
failure in business 1t is impossible for any one
acquainted with the business Mr.. Chittenden
was then doing, to believe that the presentation
of check forthat amount would have produced
such result
Regarding my visit then in New York, was
there at that particular time at the request of Mr.
Breslin himself. Having mentioned to him that
I intended to visit New York he expressly re-
quested that would make my arrangements to
be there on the lst of July as he intended to
be there in connection with the payment of in
terest. As this was his first visit to New York
as Treasurer and as he was my successorin Office,
although l did not suppose he considered it i'm
portant yet it seemed natural that he should de-
sire to see me there. He now seems to convey
the idea that was there solely for the purpose
of inducing him to continue his deposit with
Mr. Chittenden. Why go there for thatpurpose2
l met him in Mr.. Chittepden's office, also at the
Trust Companys, and at other places; but do
not recollect any such conversation at Mr.. Chit
tenden's Office as Mr.. Breslin details. was not
there for the purpose Of inducing him to contin-
ue his deposit. Mr.. Chittenden never solicited
me on the subject; and from all 1 could see or
know, he was ready to pay all that was required
Of him. l do recollect that either Mr. Breslin
or Mr. Chittenden remarked to me or in my pres
ence, that only portion of the deposit was
needed at that time and whatever portion that
was, was Of course paid. l do not recollect
anything about any arrangement by which the
deposit or any part of it, was to be continued till
January or any other definite time; such an
arrangement, however may have been made,
but was no party to it, for l did not consider,
of my business, Imight have expressed myself
to Mr.. Breslin as to Mr.. Chittenden's prosperity
and stated that l believed him good; but de-
ny that l made to him any special representa-
tions to induce him to give Mr.. Chittenden any
further or greater credit
After this do not remember to have heard
anything about Mr.. Breslin's account with Mr..
Chittenden until about the time Of Mr., Chitten-
den's failure. But it appears from Mr.. Breslin's
sttatement that he had agreed to permit the bal
! allce to lie until he lst of January following,
when the payment of interest again came
around Although Mr.. Breslin says he wrote to
Mr. Chittenden in the meantime, appFising him
that he should need the money on the lst of
January, vet he did not then call for it. What
evidence is there that Mr. Chittenden would
not then have paid Mr.. Breslin's check for the
balance of the deposite? There never was
time when he was doing SO large a business,
handling so much money, or when he seemed
and considered himself so prosperous. Why
did not Mr.. Bresln then draw on Mr.. Chittenden
for the amount of the deposit? l certainly had
no power to do it. Why should 1 then be held
morally or legally responsible for any loss which
subsequently occurred? arr4
As to the failure of Mr.. Chittenden and his
final settlement with Mr.. Breslin, Mr.. B, makes
statement which should not have expected
from him. except upon the supposition that he
has forgotten the exact facts I was in New
York at the time by the merest accident, Mr.
Chttenden being then absent in Tennessee. AT
ter being in the city few days was told by
| friend Of Mr.. Chittenden who was well acquaint-
ed with the business of Mr.. c., that owing to
the recent failure in Congress Of a bill granting
lands to Wisconsin for railroad purposes, large
amount Of the bonds of certain railroads to be
benefited by that grant, depreciating in Mr.
Chittenden's hands in consequence of that fail
are, he feared that Mr.. Cbittenden would be
compelled to suspend payment l then went
probably the same day, to Mr.. Chittendens Of
fee inquired Of the person in charge Of the same
as to the condition of Mr.. Chittenden's affairs
and having learned that Mr. Breslin still had a
deposit there, stated that if there was any dan
ger of Mr., Chittenden's failure, that deposit
shonld be paid or secured beyond contingent
ey. A gentleman occupying a desk in Mr.,
0hittenden's Office, and whose friends had en-
dorsed Mr.. Cs paper, became alarmed and asked
for security. We co-operated, and after some
consultation, the gentleman in charge of Mr.
Chittenden's Office agreed to turn out good Sc
curitiy for these claims, and did place in the
hands of third party securities which 1 was as
sufea we're amply spfReient for the purpose,
did not see the securities, nor was informed
as to them, except that Twas assured they were
good. then telegraphed Mr.. Breslin to come
OF send some one to attend to the matter In
few days Mr.. Breslin and Mr.. Gibson were