Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1870-06-02


ey over and above the $500,
which is generally believed to be
all he got. On the So, 800 which
Arnell got, he paid, as credit,
$4,000. He received money at
other times, the amount of which
there was no account kept; but
according TO my Judgment 900
to So, GOO were paid to Arnell-
given to him by Parham and 9TH
ers. One case that remember, l
gave to Mullins some money
$500 to give to Arnell, not be-
ing able to see Arnell personally.
This money was given by Null
Inns to E. P. Cone, who, l after
wards learned, gave it to Arnell.
Arnell was afraid to receive the
money direct from me on account
of its being found out on him.
No receipt ever was taken for
this money, not even memoranda.
I'd. Mr., Mullins received mon.
ey to defeat a resolution intro.
duced in the House of Represen-
tatives by Elliott, / believe "to
convert the 7-30 notes or bonds In
to State bonds" Mullins went &C.
lively to work TO defeat the reso-
luton, because, he said, if the
1905 were converted into State
bonds, that | would be called on
for them, and that he wanted
money to defeat it, and I furnished
him money. No receipt or note
was given for this money. | will
here state that | lost a lot of let
ters and papers and receipts from
various persons, acknowledging the
receipt of money by letter, and re-
ceipt Of which have never been
found.
Sd. Mr.. Richards received
money also that has never been
accounted for in any way,
| 4th. Mr. McElwee received
money also that has never been
accounted for. Also Spence, W. j.
Smith and various others. What
| mean by no account being Ia
ken of .he money mentioned in
this deposition is, that the bonds
do not, nor ever did, hold any evi
dence of Indebtedness for this
money, disbursed as mentioned
above. Owing to the pressure
brought to bear upon this bank
by various individuals, it was not
able to meet its obligations. Mr.
Lowenstein came out to Mem.
phis as the special examiner of the
condition of the bank under the
provisions of the national banking
law, with power to damage and
otherwise ipjure the institution if
he saw fit. l paid him mon.
ey (black mail) to let the bank
and its affairs alone, and not to
NEEDLE with it. Ihave not heard
of Lowenstein since. / know Of
$500 paid him. The capital was
but 100000, and to discharge
all the Indebtedness of the bank
occasioned by the draws made to
meet the obligations to pay mem.
bers of the Legislature and others
mentioned in this deposition, the
funds of the bank were used in.
discriminatory, also my personal
funds. GEO. z. RUTTER.
ADDENDA.
Question.-What time did the
Tennessee National Bank become
the depository of the State, and
when were the first, funds re.
ceived as deposit by the bank
Answer.-At the time Of the
passage of the fiscal agency bill,
May &c, 1866, and soon after ]
received deposits from the State
Q.--What amount of funds
did you receive, and how were
they deposited?
Ave received revenue Il dc
not know the amount) and $685.
$50 of bonds, generally known
as the school fund.
Odd you have any con-
ference with any State officer in
regard to the failure or suspension
of the bank and the loss of the
schoolfund, if SO with what officer
Al did, with Governor
Brownlow, in Knoxville, Tenn.
and in that conversation, he ia
vored the continuance of the
bank as the fiscal agent of the
State. l had frequent converse
tions with him before and after
the suspension of the bank, and
referred me to Judge Norman as
a man who would do me good in
any of my transactions. Brown
low at all times favored the bank.
Odd you receive any COM
municatien from Governor Brown
low in regard. to your fiscal agen-
cy of the State, if SO please file
any such communication as part
of your answer to this question.
LII