The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1860-03-23
se5,9l2 so

OF this sum total Of S25,9l2 so, there re-
mains unpaid $4,000, the amount OF the
last six checks In the above schedule-which
checks are part Of the assets Of the Moron.
bega Bank. In the portion of the Report
referring to that Bank more particular his.
tory of the checks will be found.
Mr.. Leavitt states that in the summer, be-
fore any of the above checks were negotiated,
he had procured discount on one or two OF
Mr.. Peck's official checks at the Norombega
Bank, the avails of which, as was his custom
in these transactions, were handed to Mr.
Peck. He also sts<sd that the $l,675 check
discounted by Prentiss was carried to that
gentleman by Weston, and tho one of $4,000
discounted by Walter Brown was carried by
Hallowell-though the money came back to
him and through him to Peck. In reply to
the inquiry by ono of the Committee as to
the cause of so many of these checks being
for the odd sum. Si,675, Mr.. Leavitt said he
could not pretend to assign any positive reason
therefor but he intimated that possibly there
might have been li,tle desire on Il Q part oi
those negotiating them, to abolish the identi-
" and individuality Of the several checks
that If they were all drawn for different a.
mounts, each one would have q name and
character Of its own, but so many being
thrown on the market for peculiar sum,
three or four might bo flying about with the
reputation Of being but one. AS the credi,
of tie parties interested would remain good
in proportion to the moderate extent to which
il was expanded. there was an evident motive
in deluding the financial world by this clever
ar,ifce. The same trick was evidently ut.
tempted in the notes of Leonard Jones and
q. ~ h..b ,i,,op Ia n.
markably similar both to sight and sound.
II would be quite needless to trace the nu
merous shifts made by Mr.. Peck to procure
discounts upon the notes furnished him by
his partners. All such movements were but
temporary in their nature, and in each case
postponed but short time the raid upon the
Treasury funds-with the additional chasrin
of having lost the discount and exchange
which direct seizure Of the States money
would have saved. He used his official check
upon the Suffolk as the chief mode OF trans.
mitting tho large amounts to MIR. Gushing in
Canada, and his efforts to procure discounts
were all directed to the end Of keeping in
Boston to meet his heavy drafts. His &C.
count at the Suffolk Bank instead OF repre-
scnting the natural and proper business OF the
State Treasurer, has rather the aspect OF a
Brokers account while hard run to keep up
his credit under the pressure of panic.
The same exhibition Is found in some OF the
Banks in this State to which more particular
reference is made under the proper head.
Mr.. Cushing as Agent Of the Company
was charged rather with tho duty Of disburs.
ing the funds than with providing them. and
In four instances only, according to his tcsti-
mony,was he concerned in negotiations for the
raising of money. In two instances he got
Peck's note discounted, at Bank in Mon.
treal, for $1,000 in all. and on Dec. 10th and
Goth, he drew on him. Peck accepting as
Treasurer, for $4,000 each time, and RENTED
40 900 of the avails to Peck In bank checks
on New York. Peck acknowledges the 70.
cept of the $4,000, and alleges that Il went
the financial maelstrom into which he was
drawn at the close OF the year, being applied
to the taking up Of his checks negotiated by
different persons or to the payment OF notes
on which he was en- lorser.
The Committee have to report the some
what remarkable but very uniform dcclara.
ton on the part Of Mr.. Peek's five partners
that not one Of them had any idea no was
using States money. 1t Is but iair tnat eaeh
of these gentlemen should enjoy both ut the
hands of the Legislature and the public,
whatever advantage disclaimers OF this kind
may afford. The Committee accordingly re-
mort the exact words of the witnesses as they
were taken down.
Mr.. Weston expressed himself thus:
81 wish to make this general asscvcration mp
on the whole case from the beginning to the end
| never knew, or suggested, or expected, or de-
sired, or suspected that Mr.. Peck was using fol
our concern in Canada, single dollar Of the
public money. Whether had reason to suspect
IL is matter Of argument, but never did sus'
pect IL. I supposed the means we furnished him
and what was furnished him by his Portland
friends was added means to his own means, and
that Neal Dow had aided him for these purpos'
es. Mr.. Smith being introduced to
the Company furnished large quantities Of mon
ey. Let Peck have IL. As i Is said. stole the
money from the Norombega Bank and let Peek
have it-as It were, shoveled 1t out to Peck"
Mr.. Leavitt was fully as ignorant Of State,
money being used as was Mr. weston. In
his testimony before the Committee Mr. Lsav'
lit said:
"I never knew or suspected that Peck was us-
ing States money. supposed Peek, with the
Portland notes and checks discounted IN Ban
gor, and the Bangor notes and cheeks discount
ed In Portland. had enough TO- carry on ,ne Cln'
ada operation. He had credit and could easily
procure discounts on such paper a. We gave
him." r-.r,. M
Mr.. Hallowell said In his testimony;
"I never knew he was using States money.
hut ,usnected II about q fortnight or three weeks
before he failed. I supposed his friends assist