Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-06-07
THE SCHOOL FUND INVES-
TIGATION.
The Es0nds Belonging 10 tae valley
Insurance. Company of virginia.
Cards from e. WaterhOuse and L.. e..
Pearl.

cAep OF MI wArERnoUsE,


To the Editors Of the Unioa and American
NEW YoRK, June l, 1870. Referring
to the charges preferred against me by the
recent report of the Committee on the
School Fund.-. l beg leave to state that
some time in Sept, 1866, was in Cleve-
land, Tenn, and learned from John Os-
ment that there were several Tennessee
bonds endorsed tothe Insurance Company
of the Valley of Virginia on the market
for sale. told hun not to buy them un-
til went to New York and made some
inquiry in regard to them, and if found
that they were good IN the bands of the
holder | would write TO him to buy them
for account of Watefhouse, Paul s. Co.
They were to refund him the purchase
money and divide the profits. According
ly wrote him in November to buy the
bonds; that with o little trouble thought
they could be made OK, thereby imply
ing that the endorsement of the company
could be had. He purchased fifteen bonds
and sent them, for which they returned
him the purchase money, and failing to
get the transfer from the insurance COM
pany, ordered him not to buy any more.
They obtained the statement of John ~
Fisher in February, 1866, and made an
other effort to get the transfer, but from
some cause the insurance company again
refused. We notified Mr. Osment of the
fact In November, 1866, Mr.. Osment
wrote US that he could get new bonds for
them if we would send them to him,
which we did, and he returned US new
bonds for them in person, which were
sold and settlement made, he receiving
one-half the profits.
append copies of the aiidavits of
MIR. Fisher, which you will please publish
with this card, the originals being in my
possession.
The committee did not request me to
appear before them. Yours truly,
E. WATERHoUsE.
....- COPY.
New YORK, Feb. %, 1S66.-J. l.. Car
son, Esq, President Insurance Company,
Valley of Virginia, Winchester, Va
Dear Sir: have been shown your letter of
the 11th December, 1865, to Messrs.
Waterhouse, Pearl & Co., of this city, in
regard to the transfer of the following
Tennessee six per cent coupon bonds of
one thousand dollars each, viz:
No. 40l, issued 1st January, 1852; No.
1920, issued 1st January, 1854; No. l.
742, issued 1st January, 1855; Nos. s.
lG9 and a, 578, issued 1st January, 1856;
Nos. 5,497, 1896 and 5,597, issued 1st
January, 1857; Nos. 1856, 1922, 7,723,
s, 115 and S,21S, issued 1st January, 1853,
and Nos. 10,573, 1854, TO- ,575 and TO-
576, issued 1st January, 1859, (seventeen
bonds in ALL in reply to which | beg TO
say that, when your agent applied with
an order for the bonds, and satisfactory
evidence that your company would COM
ply with your obligations as underwriters
to the people of the State of Tennessee,
who might hold uuexpired polices
issued by you, it was impossible for me
to get immediate possession of the par
ticular bonds which you had deposited
with the Comptroller of the State as the
assets of the bank, and the property in
custody was divided and placed at vari-
GUS points in the State of Georgia for Sc
curity. Your agent being anxious to get
immediate possession of the bonds, to
Oblige him, | borrowed bonds with cor
responding amount of accrued interest,
and subsequently replaced them with
those which your company had deposited.
The bonds in question are, therefore,
the property of whom ever may hold
them, and shoulI be properly transferred
to them. Very respectfully,
TSigned JoHN A. FISHER,
Former Cashier Bank of Tennessee.
STATE OF New YoGK, City and
County of New York, ss-I, Tho mas
Sadler, Commissioner appointed
by the Governor of the State of
Virgin q, for the said State of New York,
do certify that John A. Fisher, whose
name is signed to the writing above, bear
ing date on the twenty-thrd day of Feb
ruary, one thousand eight hundred and
sixty-six, personally appeared before me
in my State aforesaid, and being by me
duly sworn in due form of law, did de-
pose and say that the matters set forth in
the foregoing statement is in all respects
true. Given under my hand and official
seal this 23d day of February, 1866.