Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-09-30
THE FAILURE OF SOLOMON's BANK.

ence, which up to that time, had passed oe-
tween F. L. Cardozo, State Treasurer, and
Hon. T. C. Dunn, receiver of Hardy Solo,
mons suspended bank. The first of this
epistolary controversy gave signs of acrimo-
nious feeling on the part of the writer's, and
subsequent correspondence has brought them
into mere personal quarrel in which the
public can have no interest, and by which no
one can be enlightened
Cardozo seems to stand in the attitude of a
personal enemy to Solomon and charges
Dunn with being Solomon's personal friend,
which precludes him from making fair and
honest statement fthe condition Of the bank,
and asks permission to havea access to the books
of the concern for the purpose of making per-
sonal examination. Dunn refuses to comply
with this request, and from this point the State
Treasurer and Comptroller Dunn indulge in
hurling TRADES Of abuse at each other
termed by some persons, "dirt-throwing," in
which accomplishment, we regret to perceive,
both officials display remarkable proficiency.
In the meantime, however, Receiver Dunn
publishes statement of the assets and liza
bilities of the bank, which is far from salts
factory to the State Treasurer, who with a
terrible array of figures and mathematical
propositions, proceeds to annihilate the mod
est statement of the receiver, which occupies
but about twenty lines, all told. Tho con-
troversy having reached this point without
ray of light being thrown out to the tax-pay-
ers as to what amount Of the deficit, if any,
may possibly be recovered, Mr.. Hardy Solo,
omon, President of the bank, enters the
fight, and explains what was the "pecuniary"
and valuable consideration" rendered by
the State Treasurer for Solomon's interest
in the Union Herald newspaper. Receiver
Dunn charges that Treasurer Cardozo re-
ceived from Mr.. Solomon transfer in his
share of the Union-Herald without paying
him any pecuniary consideration whatever; /;
while the Treasurer retorts by saying that
while the stock of the paper was worthless,
be was "willing to assume additional expense
to rid the paper of the influence of the Presi-
dent of the South Carolina Bank and Trust
Company" Mr.. Solomon relates the trans
action, in substance, as follows:
Last fall, after the removal of County
Treasurer Neagle, Cardozo stated to Mr.. Sol
ONION that Neaglc's accounts were backward,
and settlement was to be forced. He sug
gested to Solomon that he purchase large
amount of consolidation bonds held by Nea-
gle, and which would necessarily he offered
at sacrifice. Solomon not having the mon
ey wherewith to purchase, the following plan
was suggested by the treasurer and adopted ::
The former was to buy these bonds of Neagle
and place the cash to his credit in the bank.
Neag gle was then to give Cardozo check on
the Bank and Trust Company, which was to
be deposited to the States credit, aud no
money thus be drawn out. Last January
these bonds-purchased of Neagle by Solo
mon-had advanced in value to fifty cents,
at which figure they were sold, and $4,000
profit realized Half of this sum was pressed
upon Cardozo by Mr.. Solomon as his share !;
but in acknowledg dgement of several favors rem.
dered the treasurer by Solomon, the former
insisted on relinquishing all claims to the
profits. In the meantime, however, Cardozo
was trying hard to have the State deposits
removed from Solomon's Bank without his
knowledge, and in this fact, on discovering it,
Mr. Solomon readily saw the reason for the
treasurers disnterested generosity. In his
defense against impeachment, Mr.. Cardozo
used ovcry effort to bl 1ak down the bauh, aud
have the State funds removed. These depos-
its, amounting at that time to s1S7 900, were
soon after reduced to Sl60000 Mr.. Solomon
called on Governor Chamberlain, and urged
the necessity for his bank holding at least
100000, and was referred to Mr.. Dunn and
the treasurer. The latter, on being sought,
received Mr.. Solomon quite cordially-this
being their first meeting since the disagreeable
relations existed between them. In the course
of conversation Cardozo, referring to the
Neagle bonds transaction, detailed the expen-
ses incident to his defense on the impeach-
meut trial He said that the State deposits
in Solomon's Bank would be increased, as
desired, to $500 000 and asked that Mr.. Sol
mon would transfer to him his interest in the
Union Herald, which transfer, Cardozo said,
would make everything square between them
This was done in April last, during which
month the deposits were increased, after
which Mr.. Solomon signed the transfer
SOUTH CAROLINA NEWS.
The real and personal property of Rich
land county is assessed at s7,324,34O.
The town of Sumter is to have a street
railway, which is intended to transport freight.
The residence of A. L. Solomon, of Co.
lumbia, was accidentally destroyed by fire on
Wednesday night of last week. Loss $4,000.
Ex-Governor Scott is said to be stumping
Ohio for Allen, the Democratic candidate for
Governor of that State.
Since the first of September, about fifteen
hundred bales of cotton have been shipped
from Newberry.
Mrs. Clemson, the last surviving child of
John G. Calhoun, died at Fort Hill, near
Pendleton, on Wednesday of last week.
- According to the recent census, the town
of Spartanburg has a population Of 3,4S6.
Of this number 1888 are whites, and 1853
blacks.
The Columbia papers OF Saturday an
nouuce the serious illness of G. D. Melton,
ESQ. He has had several severe hemorrhages
from the lungs.
Col. Martin R. Delany, who was candi-
date for lieutenant-governor on the Green
ticket at the last election, is writing history
of the African race.
A tremendous storm passed over the Heal
ing Springs, Barnwell county, last Saturday
week. Among other damages, the roofs of
three houses on Mr.. Blume's plantation were
.;ol