The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1875-11-30
$4,000

Those checks were considered by both of us
as memorandum The money was paid out
with the understanding that it was a Temporal
~ individual loan, to be repaid, and they were
Clement and myself Mr.. Clement first pro-
posed this arrangement Before we commenc
ed it Mr. Clement said to me one day that he
wished to use money temporarily occasionally,
and that might probably want to use it in the
same manner, and that as we we're associated in
business, as we were Il use his words as nearly
as lean recollect them) and we could spare the
money when either of us required it. we ought
to have the privilege OF using what we wished
to use temporarily, and then replace it when it
was convenient or needed. After talking the
matter over acceded to his wishes, and the
question arose in what form it should be &C.
counted for. 1 proposed that if either party
took out money the voucher should be in form
of regular note, to be entered upon the dis
count book and passed through our books in
regular form. He objected to this on the ground
that we had clerk who would know the tran
sacton as it went on the books, and that we
had better keep it between ourselves, giving as
his reasons for privacy that if it should get
outside that we were using money it might in
jure the credit of the bank. After talking the
matter over further, we finally agreed that for
all money used in that way the voucher should
be special check or memorandum as we I'M
derstood it. All of the above checks were
drawn under this agreement I never took any
out In regard to the first check drawn for
1896, May l, 1874, make the following state
ment: About the date of the check Mr.. Glenn
ent wished me to discount note for $4,000, and
as he wished to use the money Immediately he
drew this check nominay against it and it
was paid when it appeared ag ainst the bank.
Within few days he wished to use about $4,000
more under our arrangement. AS l had not
entered the note on our books l raised the mon
ey elsewhere on the note, and as he said the
matter was only temporary and he would re-
fund it in few days, he proposed that should
hold this check as temporary memorandum
for.the amount paid out. This did, paying
him out the amount of the checks All Of
those amounts to the best Of my recollection
were paid to him in bills at his request. paid
them to him out of the drawer. These checks
l held at the time of the failure of the bank
A few days after the failure l was at the bank
and took these checks they were package by
themselves, and carried them to Mr. Winship's
Office, put them in drawer of his desk, call
ing his attention to the package and saying.
"Here is package of private papers which L
wish to leave here" After several private in
tervews with Mr.. Clement, in which he re-
peatedly requested me to give up the checks,
alleging as his principal reason for it that if l
held the checks and the facts we're known they
would make him partner, as he phrased it,
he finally prevailed upon me by his arguments
to give up those checks to him. gave him, as
l thought at the time, the whole of them, but l
subsequently found the one drawn May !, 1874,
for $4S95, in my possession.
In regard to the remaining deficiency it has
been absorbed in the general expenses of bust
ness in the way in which was obliged to con-
duct it, my expenses being very heavy.