Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1860-01-30
District Court.
HC BY TBRN

IRA II. CLIFFORD Clerk.
DAVENPORT, Jan. 25, 1850.
Court met pursuant to adjournment, The
jury in the case of Graham 4 Kepner vs Ian
ger returned virdict for Plaintiff, and gave
t44s damages. J. W. Stewart for Plaintiff,
James Grant for Defendant.
The case Of Kin.ells Us. the City of Daven-
port for breach of contract, was commenced
and jury empannellsd. James I. Lsue, City
Attorney, George 5. c. Dow, for Defendant.
At noon, Court adjourned until Monday (this)
morning, at 9 o'clock.
The BANK AFFAIR-The recent trouble with
the Brsnch of the State Bank, at this place.
contineus to furnish the theme for conversation
in financial circles. We have been csnsured
for not laying the facts bef re the public. y hen
in truth il 10 utterly impossible. on account
OF the conflicting reports current for us to as
sertain the kcts. 1t 10 boldly asserted by
some that upon investigation the late officers
will be found guilty Of gross misconduct in
their application Of the funds Of the Bank, but
ve hope, for their honor and for the credit Of
our city, that they may be alb g to clear up
these charges. Their securities are amply able
and are willing to make good all los.es to the
Bank through hem. Till the proposed invss
tigation takes place We forb ar making any
extended comments on the subj t.-Nuseatine
Journal.
We shall have to send down our invisible
reporter to assist the editors Of the Journ al
in this pnrsuit after financial knowledge. We
think, however, that we can give them . few
int tn hn~ Tbo ~
the Muscatine Branch is $4,000; fifty per
cent Of this 10 paid up in cash Dutton and
Patterson the late President and Cashier did
hold $4,000 Of this stock and at the same
time they we're indebted to the Bank, for &C.
commodations. between $4,000 and $50, ,OoO-
To secure this they Transferred to the institu-
tien their entire stock, which secured about
one half of their indebtedness. For the ball
lance the Bank has nothing to chow save the
official bond OF Mr. Dutton. Mr.. Chester W eed
the present Cashier ia on this bond for $40 600
and he is the only man who will sand up to
the rack, and see tha: the institution looses
nothing.
The faetis, Patterson and Du,ton, like Cook
4 Sargent. have been broke long time, and
it was only by using the funds Of the Bank
over which they held an unlimited control,
that they we're able to keep their heads above e
water. Cook d Sargent hoped that ty using
the money intrusted to their hands for safe
keeping, to weather the financial storm which
surrounded them, and in a few mon hs come
out all straight. They were broke in 1857 but
they did not choose to let the public know it.
Dutton and Patterson were in ust such a stu
alton They appropriated the funds of the
Bank to help them through Both the institu-
tion in Muscatine and in Davenpor: were rot.
ten as ropes Of sand. They both played des-
perate game and lost.
What new disclosures the investigation Of
Mr.. Dutton will briog forth, We are not
prepared at this time to state; we can form q
pretty shrewd guess. The eyes Of the citizens
Of Muecatine will be jerked open very sudden
ly if the acts OF cert ain parties are brought to
light.
The present managers Of the Muscatine
Branch are in every way worthy Of conf
dence. Geo. H. Stone. the Presid mt and
Chester Weed the Cashier are sound finan =
ciers. aud We will warrant tha. they will very
soon place the Bank on sound a foundation
as when under the control Of its first managers
Should the Journal wish for any further infcr-
nation IRE can furnish ii.