The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1860-08-28
From the Adrian Expositor. Aug l3.
The Bank Of Tecumsp h meeting Of the Citi-
zeus Of MOniOe

From the Adrian Exposition. Aug. i3
The Bank Of ofTecumseh..Meeting of the Citi-
zens Of MOntOe
An adjourned meeting Of the citizens OF
the citizens of Monroe was held in the city
Hall on Saturday last. j. McLsren, Esq IN
the chair, and ID Mccormick Secretsry.-
About ono hundred citizens were present.
The chairman stated that the first hu lnrss
before the meeting wou be To hear the re-
port of the comnittee appointed at the pre-
,iour meeting.
NJ. Lows Darrah, from the committee, re-
ported that he hal written to >. N, Holmes
in lation To tho houd tilri wnh him for &C.
curity to the hiii-hoIdcrs, and had received
the following reply:
'DErRoGT, Aua. g, 1860.
"LEwIs DARRAu, CHAIRMAN &C. Dear
Sir: Your favor oi the 9Th is lhIS A. Nj. at
hand In answer to your nqoiries relative 10
fhe Tecu,n.eh Bank boud,' beg to say tina,
n bond was filed with me while | WAS Treas
urer of the State, dated Nav 29ih, 1855, and
signed 10y the following gentlcmsn. VIZ:
James A. Ra,nor. Wcdwonh W. Clark,
Thomas &. Cole, Elijah X. B'uc". II G..
Lewis and J. &. Satt ,rthwaItc. The bond
runs to - NJ Holmes Treasurer Of the
State Of Michigan, his successor in ottic", his
or their assigns, as trustee tor all persons who
may be Interested in the premises The ma
ture of the bond is to make the Treasurer or
his successor the trustee for the bill-hollers
of tha bank, in Gaze of failure on the part of
The bank to redeem. On these notes, thus
left, the Treasurer can bring snit against the
signers OF this bond individually or collective
ly, and can obtain judge rent against ihon
the same AS lift were their own note in hand.
Suits can he brought in all courts. This is
my understanding OF the effect OF tho bond.
"The bond is IN the hands Of the Hon.
Jacob NJ Howard. Attorney General of the
State. Mr.. Howard stands ready TO enforce
the hond whenever called upon TO do so in ac-
cordauce with It's conditions.
/ ''If YOU desire a copy Of the bond, pre-.
sumo Won can Obtain one by advising Mr..
Howard or Howard IL Mandel! Mr.. How
ard is now out of the city.
"Of the responsibility Of the signers of the
bond YOU can Judge better than | can, as
some OF the parties reside in your city, be,
leve. "Ve,y truly yours,
/ rs. NJ. HOLMES"
Nh. Dalrah said he had been told by an
officer of the bank that they were doing all
/ in their power to straighten up the affairs Of
the bank, and that there would be some one
al this meeting TO explain. He also under
stood from the same officer that they did not
intend to DO anything with the bank, and
that any one could have the charter that
wished it, He hopad, ifany one was present
! from the bank, they would make an explaua-
! tion.
| An opportunity was here given for any
person connected with the bank to speak, but
there was no one present.
Roderck O'Connor, Esq, who has been
appointed Treasurer to -eceive the bills on the
bank, was called upon to report how much hr
had received. He said he could n, t tell x
ac,Iy how much he had taken hut that h" had
drawer fall He hnd declined to receive
from parties having large amounts advising
them to keep II un,I after this meeting.
Mr.. Dansard stated that he rl in lis O.
flee between iorr snl tiy' huu lr,l dollars of
it, belonging 10 dtfrr,ut par.Je-.
The secretary uf the meeting stated th.t
he had taken $40 from gent e,uan, $40
also wished to ieavr five dpiL,s Ia souI mon
ey with which to prosecute.
A number of others stated that they 'ni
various amounts.
Dr.. Adams thou h, that l,aral steps shogd
be taken forthwith 10 rnIi"ci the money, sua
if it could not b. c"lj"cjn ioaaliy. ta's c'@a-
munity should tax" the Law in hejr own
hands. App'snse
Judge Wing stated that the Michigan
ey when the bank suspended and that they
had compromised by taking ten cents on the
dollar.
After some further discussion it was NOV.
ed that Messr. Lewis Darrah. w. A. Noble,
James Tilden, and Benz Dansard be author
izeA to act with Mr.. O'Cornor as treasurer.
and as a committee to carry out the wishes
of this meeting The motion prevailed.
Some one proposed that the committee
have power to compromise if they should
think it best to do so.
Mr. Mccormick was opposed to any com
promise. He thought it was time these
swindling institutions were done away with.
| He propoeed to have dollar for dollar, or pros
ocutc the claim to the extent Of the law.
II was moved that the committee draft an
instrument which the deposors of Tecum,eh
money should sign, obligatng them to pay
percentage on their deposit, in good money,
not TO exec d ten per cent, with which TO
pay expenses for prosecuting the bond. The
motion was carried.
Mr.. O'Cornor stated that he had received
quite a number of letters from different par
ties, asking information about what WAS to bc
done. He wished to know whether he shod
receive this money from parties out of the
county.
Some discussion was had on this point :,
and motion was finally made that parties
residing out Of the crnnty, holding any Of this
money and desiring to deposit it and aid in
prosecuting the bonds, may send such amount
Of Tecuu sch money as they hold TO any OF
the above committee, sending also at the
same time ten per cent. on the amount in
good funds, with which to aid in the prose-
cu,ion.
The meeting then adjourned for one
month.
Stephen A. Douglas eu'ogises the Compro.
misses Of 1850. Herschel V. Johnson denoun-