The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1859-03-02

paid In New York the July following, being tie
amount then held ON deposit from the Treasurer
OF Butler county This note vas plid by Cones
& Co. Mr.. Cones also expected his firm, 10
some extent, to be made the depository of the
Sheriff and Clerk Of the County oil Hamilton,
although no agreement was made to that effect.
Having been friend and supporter Of Henry p
Bowman, as a candidate for Treasurer, he ex-
peeted to receive portion of his deposits, and
did SO, although not TO the extent desired. The
deposit by Bowman in l554-'5, through which
the loss 10 the State was really Oecasioned, was
in pursuance OF an express agreement with him
and Cones, and without any authority or agree
ment from Breslin that such deposits we're to be
taken by him, or that he was to assume any re-
sponsibIlity therefor. -fE
Mr.. Cones swears positively that the deposites
were made upon the responsibility of Mr.. Bow
man entirely; and in no instance did Bowman
makeit a condition that BresIin should aequiesce
or agree to become responsible for the security of
the deposit and that he (Cones) never request
ed Mr.. Breslin to assume that responsibility
Bowman obtained a certificate Tor 0,OU0, a
part of his deposit, and transferred it to Bresn,
portion of which was subsequently paid--the
unpaid balance being the loss to the State by this
Company. 1t is unnecessary, for any OF the les
climate purposes of this investigation, that we
should attempt to reconcile the conflicting opin-
ions and statements Of Mr.. Cones, Mr.. Bowman,
or Mr. Breslin, In relation to this transaction
The State sustained a large loss through It,. and
it is abundantly proved political considerations
were in some form improperly ming IN it.. -
Breslin's permission to allow The deposit OF
the Treasurer OF Butler county TO remain with
Mr. Cones, upon any kind of security, can be
eousidt red in no otler light thln as a loan unAue
thorized by law. Upon the same principle by
which we condemn Mr.. Breslin for making a
loan virtually to the sureties of Mr.. Bliss of
S65,000, we would condemn this as an illegal
transaction, productive of no good, but OF incal-
culable evil TO all parties concerned in 1t.
The testimony OF II. p. Bowman, Thos. Hea-
ton, w, w. Cones, w. Mclean, the statement
OF Mr.. Breslin, and statement gathered from
the books Of w. w. Cones Co., willfully pre-
sent all the facts concerning theaoss in this case
One OF the results of Mr.. Bresin's connec
tons with this firm, was the temporary interest
he obtained, and held in the 4 ! -
"KANAwHA BANK"
In Virginia. We refer to this institution, not
because it appears, from the testimony we have
taken, that Mr.. Breslin, or the State, ever sus-
tanned any serious loss through it, but to present
to the public all those transactions of Mr.. Bres.
lin which are evidences Of his apparent tdetermin.
alton, at all times, TO become mingled in specula
tion3 and adventures in every form illegal and in
excusable; and OF the influences and associations
with which he united, and TO which, therefore,
should be affixed portion ofthe responsibility for
his errors and losses. 1t appears from the tesLi-
mony of Mr.. Cones, that VIM. Sturges, Wash :.
Mclean, and himself, in the winter of 1654-5,
agreed to purchase the kanawha Bark, each to
take quarter interest of $25,0O0 Sturges, in
his testimony, substantially corroborates this
statement, as does also Bresin in his statement;
not, however, naming Mclean as one of the
parties. Breslin paid in $4,000 cash, which,
how ever, he subsequently, withdrew, substituting
his note, of which he, in some way, afterwards
obtained possession, and in that manner, as he
says, escaped from the bank without sustaining
any loss. Mclean states, that at one time he
contemplated taking an interest in the bank, but
on further consideration refused to do so, and
that he never owned dollar in the stock OF that
bank, or any other. The connection OF all these
parties with this bank will appear in their own
testimony.
The loss sustained by the State, by the Com
mercal Bank of Toledo. has been previously
stated to the public, and all the evidence in re-
lation TO it is already in possession OF the State
authorities. The testimony of R. II. Gilsor
may, perhaps, throw some light upon the precise
manner in which part OF the loss occurred.
The suspended account originating in the de
posit with Daniel Beckel, at the Miami Vale!
Bank, has, through previous investigations beer
examined, and provision made for the recovery 0
nearly the full amount.
Not an uninteresting portion OF the history o
MIR. Breslin's administration, is disclosed in hi
connection with the
ssFARMERs g. MERCHANTS BANK OF GREENsBo
oUGH,"
In Maryland. This bank was organized b
Samuel Waggoner, ,of Seneca county distinguish
ed for the intimate financial and business rela
tions subsisting between banks, "Saving lnstltu
tions," bankers, brokers, cashiers, politician;
y 4 1t % AHn ~
goner subscribed the entire capital stock, $l0O,
600 in the name of himself and his son, Henr
Waggoner. But, as preliminary to the ad
venture upon his part, he had mentioned to MI
Breslin, in New York, that there was goo
bank charter in Maryland, which could be secul
ed. Mr. Breslln intimated to him that B. I
Smith, OF the firm of Bartlett and Smith, Co
umbus, would like such a privilege. lie subs'
quently met Mr.. Smith, who advised him to sc
the Maryland Bank Commissioners, aad fix upo
day in which to pay in the money as require
by the charter. He did SO, and on the day nan
ed, having met Mr.. B. e. Smith in New Yorl
they together proceede1to the scene of some fl
ture interesting financial diversions. Smith toe
with him the amount of specie required, ,-$25
600; from whence he obtained it, was unknow
to the deponent, Mr.. Waggoner,--but it wa
his "idea," that the bank was got up to he
Bresn ''over difficulty" instead OF precipita
ing him into one.f 49
Mr.. Smith says, that BartIit & Smith ownt
the charter and the capital stock Of the ban
The capital was 100000 Sand was original
all paid in" They bought OF Samuel Wa
goner and Henry Waggoner, but Mr.. Smith q
clined to answer how much they paid for it,
furnished Waggener with the means to start
and probably paid them for the bank as mu
as Waggoner paid him for the means. Th
far the thing went smoothly on. Twenty the
sand dollars were paid in at one time IN go
and twenty thousand in certificates. Upon u
payment, a certificate Of organization was
tanned, and the bank was authorized to ISIS
circulation. The balance of the stock was ma
up, at the time, by the notes OF the stockholde
Samuel and Henry Waggoner. Smith swei
distinctly, that he was repaid by the Wagon
for the money he advanced to start the bank
that is, that the money which he put into
bank to start it, was repaid to him, not on
same day, but soon afterwards and that We
goner got the money, gold and bank notesso
a. his knowledge extended, from the bank, /
paid il to him before he left for homes and
.he identical money he had paid in. This Y
in January, 1854 Henry Rosette was cleo
President, and P. D. Burger, Cashier. In M
s 1924, Smith again went TO Greensborough, I
paid in 100000 additional capital in coin, VIII
was counted by the Bank Commissioners,
remained in the bank until about eight o'cl
in the evening, when it was again taken back
New York, and Waggoner' 'snote again snbst
ted. The bank was now IN perfectreadines
do the business, not of the community, bn
Its owners. 1t tat once issued the iull amour
circulation authorized by law, 5000 900 81
900 were taken to the west, and $50, ,ODO ret
"A az hou,a &lO0 600 were entered on the bO