New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1867-06-02
SER UNsELs PREVAIL.

d men and women who have had too
IN confidence in the Bank of Commerce
4 Jacob Barker, recently failed, met in
cil last evening, at Lyceum Hall, to
the report of the committee appointed
Examine into the affairs of the bank.
he committee of eight or ten men, of
ksm Mr. George Soule was chairman, oc-
ed the stand. So did pitcher Of water,
Hhich the two hundred seemed all in.
"a to 20 and drink. There was a thirst
Fater, for money, and for the blood of
Barker family, threats of the taking of
N were heard amid the low and deep
Is in the excited crowd. Although
ery many were present, action was long
yed BY the committee awaiting the ar
IT. of more, as it was known of the whole
e duped creditors, not probably tenth
lem, were present, when the patience OF
tyo hundred was exhausted.
Soule made his statement. He ad-
i calmness, though it was difficult for
trowd to appreciate such advice. As
I'd Of all the actions Of the committee
kept by its secretary, this record was
Il The committee acted with prudence,
&lhe avoidance Of excitement. A resolu
TO advertise on the door of the bank
neeting of depositors was abandoned
2nevent excitement. When Mr. Barker
barred before the committee Friday, its
Ifv,, 10
led that his clerks were busy balancing
books, that they were 50 much inter
Jed they could not complete the work
that his books were open to the com
ee, that he had some property outside
tis State which creditors might have,
be deemed it impolitie to state at pre-
its precise locality.
further demand from the chairman
statement of his assets, he mentioned
memory, aided by slight memoranda,
0 houses and other real estate in this
and suburbs owned, or partially owned,
him, together with the membranes
j them, and the value at which he
hated them, their present rate Of rents,
all Of this the meeting listened with
Mpse anxiety. And when one item Of
Es was mentioned, that of a draft for
hpOO, purchased year ago, and never
aid, nor likely TO be, and Mr. Barker's
6elogy for purchasing it, one could hear a
Dnd swell Of wonder that the old banker
hon they had so much confidence,
q have been so easily gullcd.
Barker said there Is no money on
He had few hundred dollars, re
y borrowed He ACKNOWLEDGED the
was perfect wreck, and that they
only gather the fragments. Aud yet
slimate of the assets is 100000 while
stimate Of his liabilities is not SO great:
Unfortunately the committee figure them
differently, and Mr.. SouIe mentioned
items showing the erroneous chuuc-
Mr. Bankers estimates.
Barker suggested QmXotic plan-a
Of Crosby lottery scheme or joint stock
t;tate affair, in which his assets should
laced At an assessed value, for the BEN
Of his creditors. This, or going into
dation in the regular legal way, only
Pa. When urged to 60 on, do business,
pay what he could, he refused abs0'
] Y, He said hehGd paid ont about 500
ineeclosing, though he ACKNOWLEDGED
Illegal. He had paid sums OF slOo and
er to avoid suits before justices, which
be brought for such sums.
then paid sums OF $3.50 to S360 fearing
holder of such amounts might sue for
before justices, and be willing TO sacri'
The oyerplus to get the sl00. Unfortu
y he made his own choice Of parties in
! ing payments. and thus injured the
ae by leaving less assets for them, =
!. NY this is chatin,n said one IN the
! El
Vaate HI, remarked another she wa.
ysan old chate."
When the Exchange bank failed. read
lalrman, as part OF Mr.. Barker's state
q -and he paused to ask the date of that
Z 'he audience, aud one remarked that
Barker had failed so often, it was i'm
!, ole to give any date
Private Letters.
aers from Mr.. Barker, ir,, aud from
Barker, sen., were then read. Tho
ef gentleman proffered giving up hi
'nal property in Louisiana toward til,
aallon, and mentioned some assets o
Alher, unintentionally omitted in thl
sM1ement. The letter of the latter con
u 'ne Joint stock plan above mentioned
n sgeSled as a mode of settlement.
VommIttees Estimates
ooule said that as far AS the commit
'eie enabled to determine, and how fai
'ouiu De done and how accurately. MAJ
'sned irom the statement that III,
aau never been balanced since com
w. There were errors in entries ant
~ and Mr. Barker and all admitted
Il, incorrect and in bad state, but how
Nv. none knew. So far as de
n eu' said he, the assets of rea
- anu other property, after deductinl
sunorances, reach but S270, 900, &C
81 a's W The best estimates the COMMITTEES
make. As sample of their estimate
~ aionne street property is placed a
while Mr.. Barker places 1t at $50, 900
~ s~ orayier street is estimated wortl
me liabilities are by the commit
NJ s..d na'ed at near, If not quite 5000, 900
4 Amates Of assets include the know
o both father and son.
cooks show $40, 900 cash on hand
n sAiements show none. The $40, 90
49,. Decn paid the Citizens bank; tn
bssf knows nothing Of 1t. Debt
s ~ scassered eli through tho books