Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-12-04

after the return Of the assets, and was
president when the assignment was
made 10 himself
SETTLEMENT WITH WATSON, TRUSTEES.
In obedience 10 the foregoing resolu-
ton, your committee met at the bank Of
Tennessee, in Nashville, ON the sixth day
Of October, 1873, for the purpose Of inves-
tigatiDg the affairs of the hank. The
committee had expected to find Mr.. Wat
son fully prepared 10 make full exhibit
of the affairs of the bank aud his doings
as trustee. But, on the contrary, not
step had been taken to make such ex-
hibit, and the committee were forced TO
wait for Mr.. Watson TO make out the
various statements desired by the COM
mittee. 1t will be seen that the resolu-
ton required the committee to "settle"
with Mr.. Watson. This the committee
could not do in the present condition of
the assets, and the committee, therefore,
stated the account with the trustee in q
general way, as per exhibit "C'' to this
report, which is as accurate and specific
as il can be made from the data in pos
session or in reach OF the committee.
Said exhibit s'Cn shows that the
whole amount OF assets received
by said Watson, as trustee, was Sl2,-
927 ISL A., except real estate unsOld,
and rents received, and proceeds
OF bank furniture sold, which are
not included in this sum. OF this sum
IS, 644, S9l o. We're in Confederate bonds,
Confederate coupons, Confederate treas
ury notes, certificates OF deposit on the
Confederate treasury, Tennessee war
bonds, and accounts against the State
treasurer and military board, and there
fore worthless and unavailable a. assets.
In the sum OF assets were also included
SIP, $50 % Of notes OF the Bank OF Ten
nessee. Deducting these two sums, and
Tennessee money burned and Cancelled,
and also amount of expenses and attOr-
neys' fees, and also the assets now in
the hands of the trustee, the assumed or
supposed balance OF notes, bills and other
assets outstanding and unsettled, is S.
us, 769 %. This balance is partly ac-
counted for by ins0lvencies, by amounts
lost in compromises, by amounts set Off
against the bank, and by notes, bills and
other CLAIMS in the hands of attorneys
But exhibit "Cn is predicaied upon the
statement of said Watson, from which
the committee are unable to account for
the deficit in q more definite OF satisfac-
tory manner. The committee do
not vOuch for the correctness
of the statements made in said
exhibit, nor have they any measure Of
verifying them, excepting as TO the as
sets now in the hands of the trustee, the
most valuable of which have been count
ed aud found to be as stated in said ex-
hiblt. Said Watson has not exhibited
to the committee any vouchers or evil
dences from which the account could
be more accurately stated, nor has said
Watson furnished the committee with
any evidence of its correctness, other
than his own statement. The COnfeder-
ate assets mentioned in said schedule,
including bonds, coupons, treasury notes.
etc, Tennessee war bonds, and accounts
against the State treasurer and military
board we've acquired by the bank since
May Is, 1861, and mostly after the re-
mOval of the bank to the south. Said
Watson has in his hands Sl75, 900 in
Tennessee bonds, which he states were
as follows, to wit: