Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-12-05
THE STATE BANK.
Judge Watson Makes a Partial Ex-
PLANTATION,
And Says He win Still Further En-
Tighten the Public.

Judge Samuel Watson, having returned
from New Oileans Thursday night, rep
resentative of this paper called upon him
Yesterday, for the purpose Of getting his
side of the story, in relation TO the Bank
of Tennessee business. He found him In
his room in the old bank building, a copy
of the UNION AND AMERICAN OF MedneS-
day last, containing the report of the In
vestigating Committee, lying on CHAIR Oy
his side.
sJudge, l have called to see you with re-
gard to the report of the committee APP
pointed by the Legislature last winter TO
investigate the affairs of the Bank OF Ten
nessee, which was published during your
absence from the city," explained the re-
porter.
Il am very much obliged to you" re-
sponded the Judge. 81 had intended to
publish something with regard TO the mat
ter. but il would take me some time 70
hunt up my facts and figures, and 1t had
occurred TO me to publish tomorrow ashou
card asking the public to suspend opinion
in the matter for few days; but don't
know that there would be anything to be
gained by that"
81 see there is communication IN the
UNION AND AMERICAN this morning, ask
ing suspension of public opinion until
YOU returned to the city, and were afforded
an opportunity of defending yourself"
81 noticed that, and am certainly very
much obliged to the writer, whoever he is. 7"
'.When did you think of making this
publication that you speak off," the reporter
asked.
"Within few days, and L shall be able
to show these facts:
81. That all the assets Of the Bank of
Tennessee that came into my hands have
been fully and faithfully accounted for.
-. That full record Of those assets has
been made upon the proper books gen
eral statement of them upon the journal
and ledger of the bank, and detailed
statement of them upon other books.
s3. That the cash received and the cash
| loaned out by me has been properly enter
ed, and that full and correct account has
been kept of all my transactions as Trustee
| of the Bank, and that no serious dlscrep-
ancy exists in any accounts of mine.
II. | have always been ready, at all
times, to settle my accounts, but have not
been ready to exhibit my accounts IN de-
tail to committee of the Legislature or
any one else, so that they can understand
them or Judge Of their accuracy IN day,
week or a month, or even months. For
these accounts cover period Of eight
wears, and all amount exceeding some
| Sl2.OOO,00O, (tRelve millions OF dollars).
-. No loans of money made by me
| will be lost. and no assets of the bank will
be lost by delay or negligence on my part.
as. That haze saved TO the bank not
| thousands, but hundreds of thousands oi
| dollars. by good management and some
financial Skill. All these points l shall be
| able to prove by positive and negative evil
dence. that will bring conviction to every
impartial mind"
at Is charged by the committee in theil
report. that the original inventory of assets
| was lost. How will YOU explain that ?"
"They are not lost, as at least two of the
| committee know. When the Board o
Directors first took charge of the matter II
1866 -"
"Who composed the Board of Directors
interrupted the reporter.
H. &. ScOyel, \. Y. 5. Lindsey, W. L
Berry, John Baird, of Columbia, carpet
baeaer by the name of Lovering-I forge
his first name-and myself Lindsey
Scoyel. Baird and myself were at worl
most Of the time for, perhaps, two or three
months, bringing the affairs in some sort o
shape. while Lowering aud Berry Womb
! ONLY drnn IN occasionally. Then, We ha'
| several clerks besides. The first thing w
did was to 90 over the contents of the -
boxes in WHICH the bank papers were
mixed up with papers belonging to tn
State. EVERYTHING in the shape Of asset
were jOtted down, a portion in books abou
| the size of books used for BILLS receivable
and bills payable while another portloI
we're kept on loose papers. These were al
carefully gone over, and the description G
the, notes. and other assets, together Wit
the amounts. transferred to larger book:
which latter were closely examined an
certified 10 as being osrrect exhibit, by al
the directors"
"And then what was done with thes
smaller books and loose papers referred tC
upon which the original inventory wa
made?"
"They were not considered by US as bein
of any value, they having served their pun
pose. but vet they were gathered togethe
and stored away with about half ton c
other books and papers belonging to Ia
bank. They were put in the attic Of tn
bank building, and when they were tlTS
called for by the committee, | thought
would DC impossible to md them, and S
stated. Afterwards, when l found tn
committee placed good deal Of value upo
them. made an extensive search for them
ard succeeded in finding them after tw
DAYS hunt. l reported this fact TO Nh
Moore, and certainly one ether member {
the committee. 1t may be, however, tia
the body of the committee had adjourne
at the time, and so the matter passed by
l considered the papers Of no value what
ever, and had thought nothing more abOu
the matter until read the report"
"The committee charge that the ban!
business is in a very complicated condition
generally"
Il know they do" replied the Judge
.sbut it must be remembered that the bust
ness extends over eight years of time, ant
involves millions of dollars. l can make
satisfactory showing with regard to tn
matter, but could not do so at so short
notice. As / said before, | will prepaIe
statement within a few days for ppblica
ton, when hope to place the present con
ditiCn of the bank affairs in quite differ
ent light to that presented in the commit
| faa's raDg.rf =