, 1863-02-02

to whom. tho ,dofalcations had hecn made
known, had thouyht best t. be done /
into the bank a. President again OF have aa5thi,ss
to do with it, adAiFa. hut on subsequent conycf-
sation With IT. Loo1ntR, ndlearnfng, % veil -
tons, Irrrlsel my determination: -
Mr Loonis informed me, that tho dcaett T. q - ~
That 81 the G. Assistant Cashier. ss'ssoea
T!'Atof the Nute Teller 1".ooo.09
md GSss 9sss IL thought lie .sss;s. its:4ss
cation Of Mr.. Carver He said he did not know.
achs5 Thy bad done IL mot ae
but he bad been Influenced eolely BY What be con
sidcred the interests OF the stockholders and tho
That chiesgo had not got thc disasters Of
cd a!l over the world nc kaeW. u the dcialcatiqn
be 10 injured that run would be made upon It,
and the bank would be unable to realize from its
asacts In season TO pay Ra depos1tors and It wouid
its numerous customers, thereby crippling their
business. but ,eren to pay its deposstorn, thus
bnt oef 01 IL
'f The e Bank ana was tsea a good s!sdt dons
lazge and profitable bnainess Which W. wsl e. =,
These considerations had induced him and the
other to eo% bon the deafateFs EN- sa n
!'cving, that the deficit would eventually be made
good. and thst tho business Of the bank need not
befntcr1uptcd.
/ must either nequicsce in the action Of these
gentlemen, or take the responsibility Of destroy,
ing the business Of te Bank gsssty in1a5t2g a2gSat
tors. ts ' and prodacng general dI.aster;; Was
neither prepared Tor the hitter alte1nstsye nor 70
condemn the action Of Mr. LOOMS aoo LIE afsoc''
ateB.
The defa1catfone were discovered In April. 1et0.
I arrived home In Junc, 1eG0 aud fonnd the IT,
epopsibility OF the business Of the Bank in the
and Skinner, and Mr. Loon,is aud DR.. F. Scamlnon.
As before stated, I had determined not to- resume
my position as President; but On looking into the
mastcr, I found my services were needed, and,
il my Judgment ought to forcgo any personal OBJ
lection or feeling had Upon the subject,
toprotect those II lo had placed their money III
account Of their long seansintsnee with, and con.
fdencc in me. Many Of the stockholders were my
personal friends. residing IN the East, who I
duty to do Al, II NY power to protect their Interest
Twas then clear Of a1l responsibility for the mis-
fortunes Of the Institutions knew that ii should
happen to Il. wohld be, npjustly blamed. But I
considered that my services were necessary. aud
TINT It was my duty to ncgcctno effort on my part
onr dcpositors and stoekholdera, ~ and T Consented
upon condition that Mr.. Loon1ls would remain
III the Bark and jointly give his attention to the
Ql 80 9OuE as EH0HlQ Dc
ncceteary-to ngain resume my former position,
| Mr.. Loomss consenting to this condition:
The dcfalcations. 70 far as shown by subsequent
iaTs eoeeied BY Ill., Loeme. s weR did not a. appea1 a
ut the time the defalcatsons were drst discovered
eTtn of Ills amount have been realized, 4slS !:
with many Fears interest. Fti due, fsP Shisl
| more will be realized.
Among ,thc securities turned ont BY NJ; csrre'
were his interest in four Illinois hanks aud half @
| 900 and $4,000. Thcse banks were securet
Mostly Upon Northern stocks. and were, In 1860
probably so2 gpSn the stGek g
ties would hsye paid lie defaicattoas n ve years
Thc oa I arc aSa hns
diviecud was paid, II hnd been earned, and the In
gtitutions were in condition to pay it; yet as W
5 wan cana to apy 1ye s2
thing more from the securities received from th'
| Cashier, the Directors, and Mr. Benjamin Carver
(the largest who owned about Is of th
| entire stock Of the two 1nstitutions) took thei
dividends In the stock cs the Institutions ut par
| which stock had been received In settlement Q
debt. When the dividend Of FebruaEy, 1851, va
our books showed we werein accH1ition to max
| the dividend.
|
@ nnd hace h.
mostly collected, and the deficits in the account
made gooa: +.
holders TINT should make this further Statement
and TIE htoekhoideIs VII now take snc1 eouFa
fror any further responsibility for their carc an
management, shall BE- greatly obliged
- - c.:
s.a.as ..'ot r. 49, 80, pa,,. t.a ,. .eat
..,ss~N-1 ~, n,,..1.1 - w.
ss,'.-s 49,, a,.s.sa ~ as.., o..,..ae,1. - t>..,
"ne - o ...".'xs,as. "na 80 n.o., .5.
." -. 49,, -. 49,. - s ~ r. r.,
.n5 - -. o..es a.gaaa 49,. 49,.
80 ~ x;.,oo 800 +,,-roa ovor hv ,g
80 ~ 4,,o.o ,,a,,,o eao,raa h.. Nor+,a,
stoeks wc1e considered amonp the hest
t I,,,,,o,s s1v,e, ho 1rnnt IN Enroon +1,e 11,;ro
! R,rl. had ont circulation Of on1v abo,
n 81 oo} oOo. when he returned theyhad notes
Z circulation to tbeamount If ten ortve1ye m
d Inns. md the WISCONSIN f,anks had out son
- five m;1l;ons more. He WAS greatly alarm
r and WAS not elected Us a Wildcat member
tbc Legislature, but did all In his power
n DESTROY tile ycrmiu, leaving in existence on
,co,t;note hanks
0 st,,omcpts wcre ,,so made liz .Jui,oe Dic,;
en1u q 1oo1n;s cso sho,s;nr conc,re;vt
rbr II uoa +tc uiscst cor-,e bo.b far sto,
+ holders denos,tors and the nab1;c for the
le recto,a ,+ thc +tma to tran is losses and a
h,rrocerorta on+ IF t1a newsna,crs y
~ +,a nro,+ donrnc;,,,or of atoc,s occpr,
u 01 in 1861, in consequence Of the rebellion, I
VI oox,+o, ~ +1o ho,r gould rr3oubt oa,r h,
,, 11sa ...tsusot ~ 49,. 49,.
ID 49, ..s =. 49, t.,,s ~. 49, 49,
y y uss a,,:ee ~ 49, ss.,sa, 1s,no q 49, ~.
ir Ns.,s 49, .,.ao @eaa A.. daa.;4 ~ .sa.
~ ~ ~ 49, r.a.as ~ ,a.a =, ar,,nn.ttnn M ~ 80 sta
~ e..lN - ...ss 49, -.1ss =,
As"s y. ~. -. n.n. - s sas ao ~. .+ =.
le sltu va ~ ~ ~. -. a.. "
~ ,As -. e. 80
"a .ot ~. e.saso. .'-ssn. ..1,aa. ~
pg cT ~ W 80 ,-.a.ss. 49, - -, :,
u ~ SO rs1 s s rs,s e.,a.e,sen 49, @ uas . ss..o
~ ... 49, ..,~ .:aa.s.a.'s ~. 49, .s.s =.
cs ' " - ".0 ~. I,,,.ss,. - -
ol ..!4e VI '"' A''"'eA s''s~'' ~ A''1D0'' ~
le, H. on.,n,. rona ,,,,,.,o,.
~ ~ ,ua~a c..s .ne c,a,:., rnsu,fo..as -, III Il,
b 49, ~ ,.n.,. ~, NJ -aaas-,,,ssa ~ rnaas ~
"a Ia"I ,,s.4." ~ 49, ~ .a.t - 49, !.
l. " '.e .H. ,. - :
be ms"e ~ -, ~, 49, .,s"as,,a-s,.,s
i. ao'u' . W ,'t01s =, ~
ne ui., -. ~, "sn NV uan ,>.n,.,e .ue ms. H'.
us tlous u. ahe susu 49, 49, 49,, So