Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-04-24
THE SELMA BANK ROBBERY
wild -Catting on the National Plan
Bank Started without Capitalize
Inevitable Burst-up.

wild eating on the National Plan
Bank Started without Capitalize
Inevitable Burst-up.
On the 10th inst, the First National Bank
Of Selma, Alabama, was left by its chief
officer, who had absconded. The Selma
Times Of the Dist contains the following
statement, made by committee, Ct the
condition Of the bank:
AT request of Maj. Gen. W. Swayne,
the undersigned were present on the 18th
inst, when the vault OF the First National
Bank Of this place was opened, and we
assisted in the examination made on that
and the succeeding day. For the informa-
tion Of those concerned, We submit the fol-
lowing statement of facts disclosed by the
investigation. The book-keeper Of the
bank has furnished a trial balance taken
from the books on the 18th inst. Ii has
been deposited with the chamber Of CON-
merce for public inspection. II the bank
on that day was in the condition represent
ed by the statement, gross frauds were sub
sequently committed, for, instead Of Sl77,-
96l 26 in cash, we only found in currency
S3293 %, and in coin S5452 Is, assuming
that a sealed bag Of gold marked $1,000
actually contained that amount, and ex-
Guiding $l23 so, supposed to be q special
deposit from the memoranda attached. The
bills receivable are stated TO be 1856, l26 SO,
besides S32,7i5 81 in suspense; all the
papers reported to be in suspense were
found except a check for $50, but
Of the $685. 2G 90 we only found about
100000. We had no means of ascertaining
.-l.,s 4 L. L, n IL
mainder-more than two-thirGs of the
amount shown by the books to be on de-
post stands 10 the credit of the United
States and of officers of the government
in their official capacity. The assets re-
ported in the form Of exchange on Mobile,
New Orleans and New York may prove TO
be available but the books furnished the
only information we could obtain in regard
10 it-checks may have been drawn against
il not reported by the President of the
bank 10 the cashier or book-keeper. We
regret that we cannot he more specific, but
the manner in which the bank was con-
Quoted, il appearing from the evidence be
fore us, that the President who has absconded
managed the affairs generally, rendered it
impossible 10 obtain data which would en-
able us TO give the creditors a satisiac-
tory opinion as to the amount which may
be real ed from the assets"
The Montgomery Advertiser of the Dist,
has the following additional
In addition TO the telegraphic iniorma-
ton elsewhere, we are informed by party
acquainted with the facts in the case that
it is evident from the books Of the bank
that the capital stock was never paid in
that the bonds 10 secure the circulation
were borrowed and paid for by the circula
iion received from the Treasury Depart
ment and deposits that the 100000
of bonds 10 secure the government
deposits we're bought with the deposits in
the bank. The SlS2, 600 cash that appears
from the books TO be in the vault, less the
$4,000 actually found, has been used by
Parkman in his private speculations in iron
and cotton. IL is not supposed that he
could have carried away exceeding So, 900
in money, and il is supposed that the bank
has been "rotten" from the beginning and
the monthly statements" false.