The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1860-03-30

4 'ooN Wy his SheChp uhu 6ese ss'S S-'~ =
! Norombega hank bills. The note was duo
January 20, 1860, but on Nov. l4th, Mr.:
Peck came and took up the bank bills and
gave me my note"
Mr.. Shirley detailed several other transsc.
tons between himself and Peck. Of q some.
what similar nature with the foregoing, though
none OF sufficient importance to DO repeated
in this report.
William II. Porter Of Portland, in his tes-
tim0ny before the committee. says:
"Peck told me In August last, that he had
| just had discount at Bangor, and the condition
was that he should not use the bills at once. l
took some S2,0 900 Of Norombega bills from him,
and gave him other money In exchange, taking
his mute for the amount. Shortly after, took .
similar amount from him, and continued dis
counting his paper until had loaned him some
| $4,000 or $1,000. Was to keep the Norombega
bills from 80 TO 90 days, and charged Peck at
the rate OF one per cent month, for the ex.
change. Charles Holden. Ezra Carter. Jr., and
i. p. harrington, were the parties who furnished
merely one-quarter per cent. brokerage, and the
one per cent. month, went to Holden, Carter
and harrington" ..,
From these disclosures Of Messrs. Shirley
and Porter, 1t is quite evident what disposi.
tion Mr.. Peck made Of the Norombega bills
which he obtained In such an illegal mode
from Cashier Smith. The Committee un-
derstood Mr.. Porter to say that largo part
OF these bills still remain with these gentle.
men. $1,000 with Carter, S250O with Hol.
den, and $4,000 with harrington.
Mr.. Porter further stated in his testimony,
the following fact:
"Somo time In October last I negotiated q
note for Peck with Smith and Hallowell as ma
kers, and Reck endorser, for $1,000, maturing
in December. Charles Holden took this note,
with Peck's official check on the Suffolk as col.
lateral security, charging one per cent. month.
The note was paid at maturity"
Mr.. Porter dealt largely in Peck's paper
during the months OF October and Novem.
berlin some instances purchasing on his own
account, but more frequently for the gentle-
men already named. In this way he dis
counted Peck's note, endorsed by Neal Dow,
for $4,000; s. c. ChaseS note, endorsed by
Peck, for $1,000. and NJ. q. ralmer's note,
endorsed by Peck, for $1,000. Mr.. Porter
testified "that Mr.. Carter and Mr.. Holden
were special friends, and had great confidence
in Mr.. Peck" They do not seem, however,
to have been able to accommodate Mr.. Peek
with oil the money he needed, and according
ly Mr.. Porter procured u discount of Hal
lowell and Smiths note for $4,000, Peck en-
dorser, at the Great Falls Bank, n. H., taxi
ing Peck's official check as collateral secure
ty; charge one per cent. a month and bro.
kerage.
Mr.. Porter advanced to Mr.. Peck Of his
own funds $4,000 on one occasion on check
on the Traders Bank, and at another, 81 900
on check on the Bank of the State of Maine,
both of which, though payable on prcsenta-
ton, were kept some time, by agreement be.
tween him aud Peck. Rates OF charge the
same as on notes.. In November, Mr.. Porter
says he agreed to deposit $1,000 for Peck ut
the Suffolk, taking time check from him on
another bank as security. Mr.. Porter thus
describes his motive and reason for so doing:
."Peck told me he was In o tight place |;
friends who had his money were 10th To pay;
banks were hard up; taxes came In slow -
Caldwell was boring with big augur on the
Suffolk for State uses interest coupons were
running in with fearful speed, and all he
wanted was little lift to get him over diff.
fcult place."
From "motives of friendship" Mr.. Porter
says, he advanced the $780,. charging but
small exchange on the sum, whereas. In ev-
cry other instance, he had charged him one
per cent. month and brokerage. He says
this is understood to be "the usual ratio In
Portland, and that Peck told him It was high
er in Bangor" Prior to August 80. Mr..
Porter says he had no financial acquaintance
with Mr.. Peck, though he had known him
personally for some years. lie says he was
induced to negotiate his paper rather from
"motives Of benevolence," .than from other
considerations. Mr.. Porter was asked by the
committee at what figure he estimated the
total amount Of interest, brokerage and COM
mission he had received from Peck during the
four or fve months he was dealing with him.
He could not give any specific answer. but
promised to send an exact account to the COM
mittee which hehas failed to do. His only rs.
sertion was that 1t was less than thousand
dollars, though II must amount To several
hundreds. AT same rate with other brokers,
1t Is quite evident that Peck's estimate Of the
amount paid for interest and exchange, Is
rather under than over the true figure.
Walter Brown, of Bangor, had one or two
trasactions Of considerable magnitude, with
Peck. One was the sale to him Of draft on
Boston, in October last $4,000 for which.
Peck paid him premium Of about Sl00. In
November following, Mr.. Brown loaned Peck
$4,000, on his official check, agreeing at the
time to keep the check on hand. and give
Peck full opportunity to repay. Within the
few ensuing weeks, Peck paid portion on
the debt, and, to the time OF his defalcation
and exposure, still owed something more than
$1,000 upon it. On the 30th or 3lst of De-
cember, Peck went to Bangor, and his con.
dition, as a public defaulter, was then mat
ter of such general notoriety as to have be.
come a topic Of newspaper comment. As
soon as he arrived, Mr.. Brown had an inter-
view, and procured from him his official checks
ON several banks In Bangor, and that vicinity
for such amounts as the State then had on
deposit in said banks. The sums thus pro.
cured by Mr.. Brown. were on checks dated
as follows, and OH the following banks:
Dec. 3Oth. Market Bank. S5o2 s,
I" Saltwater Bank, Orono 30 6t
f" Lumbermans Bank. Oldtown, I'LL II
<" 3lst, Bank Of State Of Maine, % 30
:. go 90
S2532 80
In every instance. the balance to tho credit
of the State was swept clean, and the only
reason why Mr.. Brown did not get moro was
because there was no more to get. In one
case, at least, the check was sent to the bank
without being filled, with the request that
the cashier would insert whatever amount
stood to the credit of the State. and pay II TO
the bearer. Under these circumstances, tho
Committee must express the opinion that Dir.
Brown did not obtain this amount, S2.S32 80
in a rightful mode. He knew that Mr.. Peck
49,. JoC. ,l,av. In tnev that thu Stata waa