Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1860-06-08

were common ones-have had mensy dspos.
tied by State Bank of Indiana on same terms.
We gave Muscatine Branch credit for it on
our books VIC gave no certificate of deposit
for it. The Dutton Patterson note was
surrendered and taken up on the 4th Of Oc-
tober it was oil in one note; it was never
changed, but other paper was made and ten.
dered but not received think some of this
other paper was made by Weed and cndors
ed by Dutton & Patterson, but | am not
certain. We never received any other sums
of money from the Muscatine Branch may
have had exchange and currency transac.
tons. When the Washington Branch was
established we may have exchanged currency
for gold with the Muscatine Branch, but
don't think that we did; think we did not,
but am not certain. The gold of the Wash
ington Branch was counted at depot in
Washington, by commissioners of State Bank
price and RANDI. Witness explains why it
was there counted, and why it was brought
to Muscatine State Bank committee was
w III. L. CIultu, VICE TTcSIucht, AHAm HIiCc
and myself. Mr.. Price and myself called
Ezekiel Clark in for his counsel and advice.
called the committee together by letter.
That committee went to Muscatine Branch,
counted the money, examined the balance
register and the books, and, after examination,
the committee were of opinion that the Branch
should 20 into liquidation--be wound up. l
was decidedly of that opinion; Price and
Clark were less decided in that opinion; after
awhile, Price and Clark came to my opinion,
in case I would act as President and take
charge of it under the Executive Committee.
Weed gave security, and the point was TO
make the other Branches satisfied. refused
the proposition for twenty. four hours, but it
was so much urged that at length accsded
to it. The record of the Branch will show all
that has been DONE I acceded because l
thought might get control Of the Branch.
The Executive Committee made their report
to the State Bank, and that report was refer
red to committee of State Bank, who accepted
action of Executive Committee, and State
Bank passed an order that Geo. @. Stone
might havea controllinginterestip the branch.
| was in haoit of coming into business CON-
tact with defendant for some months before
he ceased to be Cashier. l have seen him
several times when thought him not iI q
| condition to do business; at other times in
the same week have seen him very different
l mentioned this to MIR. Weed and some OF
Directors. was an original applicant for
Branch at this point, but did not succeed; was
got up on solid basis. A private banker can
allow parties to overdraw, but under State
Bank law restrictions are thrown around it.
(Q.--Do you always have the gold reported
ON hand at the Washington Branch between
statement days? 1t is admitted that wit.
ness is par. owner of Washington Branch.
Overruled and defendant excerpts N. Y,
exchange is worth as much IS gold to pri.
vate bankers, but not to Branch Bank.
Explains why. Defendant here offers the
records of the Muscatine Branch.] Mr..
Weed proposed to give security for all the
deficiency in the3 Bank, including bad
debts, and Weed did give this security
He gave the security by mortgage and col.
laterals for all defalcations, and to put the
Muscatine Branch in as good condition AS il
was originally. The reason why Mr.. Weed
did this don't know, unless it was because
he was one of the sureties on defendants
bond. There were other sureties, but they
did not join Mr.. Weed in it - at least,
apparently. II Weeds agreemen: is carried
out, the stockholders will only lose dividend.
until it is carried ont. l understand WeeG
had received securities from Dutton ant
Patterson. Don't think false balances coulC
be played on me more than TWO months
can't say as to Mr.. Weed. City correspond
ents render monthly accounts current; tt
examine and compare these is difficult anl
requires time and care We have drawn
drafts on St. Louis and New York which, ir
some instances, have never yet been pre-
sented - in a few instances, though two OF
six years have elapsed. They were small
drafts; large drafts do not generally lii
around in that way. Explains another
instance in which his books balanced, though
there was mistake in accounts - the RICH
amounts being charged, but to the wron,
parties
THoMAs uARBAcn, svorn. II know
defendant; an teller and bookkeeper il
Muscatine Branch. Those are aocount
current from Atwood & Co., roc lived by tn,
Muscatine Branch. l was bookkeeper fo
Muscatine Branch when Dutton was Cashier
At buttons instance, l wrote to Atwood 4
90. for duplicates, because the originals
were not in the Bank.
Cross. eramined - That is the ba)anc,
ledger OF Muscatine Branch; kept tina
book correct On the 81 of October, 1859
by this book, the Park Bank owed u
1897 81; on tie 4.h the same, and on thu
5th the same. sas.
This book shows that Atwood / 20. owed us OF
| the 81 of October. .,... S. 70S s,
| 4th do 5464 8:
| 9Th do 2s5 81
9th do -s-.-... 1889!
This book shows that Ssvi,, Institution, St
Louis. owed us on tho 81 of o. tass:, $40 327 Z,
! 90 4ia Dc / S26.4!
do 5n do Ia S26 4.
Balances made up on this ledghr every day
fl ON journal; this book agrees with ledger
| used to prove the books every thirty days
When we had short time drafts we used tc
charge them to our correspon Tents immedi
ataly. Every one knew ttis who wished t.
there was 10 secret about this foun
mist AXE in statement OF Park Bank Of 81 ,00(
when | was at Musca,ine b. anch. Free
access Gould be hid to the books at al
times. Items were charged to Dutton &
Patterson same as to others Ba' k discount
ed the r paper. There was a letter from
| ilazeton, 2, eside.t of W. stern Weird In su
rance Company, stating that lie had for.
wal ded draft t. Atwood i, Co. tor S5,3G3
| Don reco lect Whe her. made this entry Of
charge Of this mount by buttons direction
or from the let er Of llaz e,on. If this
charge were correct, the balance in the
stateInt Mt tgair st Atwr, d & Co. would be
correct. excsp. small errors, which would
naturally creep in. Tie amount stated in
lIazlelon's letter is charged to Western
World Insurance Company, Of which he is
President. THIS il the published staten ent
for the month Of May, 1869; this item of
So 1863 is included in it, as among the assets
Of the Branch We ordered c.rsency from
State Saving IS Institution once only. l AIN
acquainted with the books of the Bank
These are the books IF the evidence; both
81 des agree that all the books of the Bank
may be considered as in evidsnce. rres.
Direct examination resumed. II kept
books in October entered everything in
that book that Dutton told me kept it