Evening star. [volume] (Washington, D.C.) 1854-1972, 1874-05-14

letter went on to say that Mr.. Bromberg va
on the bond OF Mr.. woodv ard, late cashier II
the Mobile branch; that the latter had embez-
Consequently suit had been entered against
woodward and his surety. The letter also
charged that Mr.. Woodward and Mr.. Bromoerg
soeetner had done All In their power 10 induce
bank. --
Mr.. Brcmberg said ali the statements In the
letter were false. There was not word Of
The letter goes on 70 show that the loan. made
by the bank In WashinR ton were amply secured
A letter was also read from Mr.. Freder ck
Douglass, president OF the bank, reitsrating
Mr.. Brombergs connection with Woodward,
and alleging that when suit was brought on the
bond Mr. Bromberg attempted 10 destroy the
credit of the bank.
Mr.. Brombera said he had never received
notice of the suit, and all the statements in the
letter referred to were false.
Mr.. hawley Conn inquired IL Mr.. Brom-
berg was not on the bond.
Mr.. Bromberg replied he was.
Mr.. Hawley, Conn. Then that IL one OF the
statements you say was false.
Mr.. Bromberg said he referred 10 the state
ments impugning his motives. He then had
read letter TO the effect that Mr.. Wood sard
was entitled to the money he Was charged with
embezzling for services rendered as au Syent 20
the Freedmen's bureau.
THE BILL AS PASSED.
The previous question was then seconded and
the bill passed. IL amends the act to incorpO-
rate the Freedmen's Savings and Trust Com
pany 90 as TO provide that IL shall hereafter be
me duty OF the trustees and officers OF said CON-
pauy TO make loans to the extent Of one half
the deposits by them received, upon bonds or
notes secured by mortgages or deeds Of trust
upon unincumbered real eetate situated In the
vicinity OF the agency from which such deposits
are received, upon cash appraisement at least
double the amount of said loans, and the bor-
rover shall keep said property insured at his
own expense. Section directs the officers and
trustees to collect, a. speedily as Ii NAV be done
without prejudice to the interests OF de pos, sors
all sums OF money loaned upon real estate out
side OF the states from which received, and TO
loan said funds as directed in the first section.
Section provides that when IL shall appear
that the interests Of depositors require II, IL
shall be lawful for the trustees by and with the
advice and consent OF the Controller Of the
currency at any time to close any of the agencies
or branches OF the bank and make a private
division of principal and interest among de-
posltors. Section prohibits the loan Of more
That $4,000 TO any person or company at any
one time. Section imposes q penalty OF Ina
prisonment not exceeding Eve years upon any
ofticer who may embezzle, abstract, or wllfullv
misspply any funds Of the bank, or make un-
authorized loans, &c. Section limits the
amount of interest to be paid on deposits TO per
centum. Section provides for the appoint
ment OF three commissioners to wind up the
business OF any bank, collect all deposits, dis
tribute the funds among depositors. Before
proceeding TO act the Commissioner shall exc
cute bond in the personal sum Of SO 600, with
good and sufficient sureties. They shall be
paid not to exceed % 900 per annum
Mr.. Beck (Ky.) introduced q bill to amend
the act for the sale of land under the act lew
Ing direct taxes. Referred to Ways and Means
Committee.
Mr.. Eldredge, wis., from Committee on
Judiciary, reported q bill In relation to proof
and execution Of wills in the District of Column
bia. Passed.
The House tnen resolved itself into Committee
Of the Whole Mr.. Niblack in the chair and
resumed consideration of the deficiency apprO-
priatiOn bill.