The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1863-10-26
MATTERS BOUT TOWN.
Supreme Judicial Court.

OCTOBER TERM-RICE j., PRESIDING.
SATURDAY.-Tne case of Warren VS.. Will
liams was argued by Mr.. Rand for defendant
and Mr.. Webb for plaintiff. The jury retired
few minutes before O'Clock, and at the adj
tournament of the Court & o'clock had not
agreed upon verdict
No. 103S.-A. c. Robbins ct ais. Bank Com
missioners, VS.. President, Directors and Co. OF
Alfred Bank.
Application for an I'M JUNCTION. The appli-
cation is dated Oct. s, and on the l4th Judge
Rice enjoined the bank and prohibited its
officers from proceeding with its business, ex-
cept receiving payment for debts due, until a
hearing could be had in relation to the mat
ter, and until further order of Court.
The case came up for hearing Saturday
afternoon. Mr.. Robbins, one of the Bank
Commissioners, read the specifications upon
which the complaint against the bank is found
ed. They were as follows;
1st-Because there has been departure
from the ordinary business Of Banking Inst-
tutions.
2d-Because its immediate liabilities to the
billholders and depostors are $50, 1902, and
3d-Because a large part of the loan of the
said bank, we have reason to think, will not
be paid at maturity-the sum OF S25,2I4,00
being already orer due and unpdid-which
said sum is more than forty per cent of the
entire loan OF the bank.
4th-Because money has been loaned upon
memorandum checks to parties who have no
deposit in the bank which checks were taken
without the knowledge and consent of the
Directors.
5th-Because loans have, in certain in
stances, been made, exceeding in amount one
half the capital stock of the said bank; which
loans have not been submitted to the Board of
Directors for their consent and approval: and
said loans thus made without the knowledge
consent and approval of the Directors, have
not been entered upon the books of the bank,
where they would come to the knowledge of
the Directors, or pass under their inspection.
6th-Because the loans referred to in the
18th specification, thus claudestinely made
without the knowledge, consent and approval
of the Directors, and not entered upon the
books of the bank, were brought to the atten-
ton of the officers of the bank at our first
visit to the institution this season, TO wit, July
22d, 1868; and assurances were then given
that the said loans should be at once adjusted
At our second visit to the bank, Sept 18TH
1868, these loans not having been adjusted
still stronger assurances were given that they
should be paid mmediately-which assurances
thus made at our first uisit, and reafirmed at
our second risit, have not been realized at a
third visit, Oct. It'll, 1868, and the said loans
thus made as above described, remain in the
larger part due and unpaid.
7th-Because the said bank is insolvent.
A. T.. ROBBINS, Bank
FRANCIS X. SWAN, Commissioners
The Attorney General J. ii. Drummond,
ESQ, appeared for the Bank Commissioners,
and Ira T. Drew, Esq, for the Bank.
Mr.. Robbins made his statement of the af-
fairs of the bank as found by the Bank Com
missioners at their visits.
Mr.. Drew then made statement of the az
fairs of the bank as they existed on Friday.
He did not deny there had been a departure
from the rules governing the business of bank
ing institutions, but contended that better
state of things now existed, and that it was
the determination of the present Directors of
Bank to make the public perfectly secure;
and that since the election Of the new Board
the affairs of the bank had been conducted
properly. His statement of the situation Of
the bank on Friday showed that it was per-
iectly solvent. This statement was also yeii-
fled by the testimony of some other officers of
the bank.
Judge Rice said, that If the hearing had dis
closed the same situation of affairs as existed
when the complaint was made TO him by the
Bank Commissioners, and which it had been
acknowledged did exist at that time, he should
have no hesitation in granting decree OF in
junction. 1t had been shown that the officers
of the Institution were doing their best to
regulate matters, and, in great measure, they
had succeeded. He spoke of some of the ir-
Irregularities committed by the President of the
bank, and condemned them very strongly.
As the present Directors were placing matters
in better position and as the public were
not likely to be sufferers from the institution,
he should not deem il his duty to order an in
junction. He would take the papers and look
over them, and give his decree on Monday