The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1875-12-03
THE BANK OF PORTLAND.
Examination of william N. Goold.

The examination was continued at p. m.
yesterday as follows:
Q-Were there any writings of any sort be-
A-There was not
Odd any third person hear the agreement?
A-Not to my knowledge.
Q-Who was your clerk in the bank at the
time the agreement was made?
A-George G. Kicker
Odd you communicate to him that YOU
and Mr.. Clement had formed partnership?
Al did not.
Q-Was there any entry made on your boo Ks
indicating when the individual business ceased
and the partnership commenced?
A-None to my knowledge, but the agree
ment was between us at the time of our agree
ing to enter into partnership that the division
of property and losees should commence at the
time of his first deposit Of funds in this bust
ness, which was think, December 29th, 1873
Q-Was any account taken of the assets and
property of the bank at the time the partner
ship was formed?
AIT the time we agreed to form partner
ship asked Mr.. Clement if he would not like
to 60 through the whole affairs of the bank
and see for himself, thoroughly, the shape we
were in. He replied that he was entirely salts.
fed, that he knew the condition of the bank
and considered it unnecessary to have an ex-
animation Ut the bank standing. There never
was any account taken. He never requested
ANCoti9dtlOu duu eApT6SSeu himself
frequently that he understood the affairs of the
bank.
Q-Was there any transfer made of any in
terest in the assets or property Of the bank to
Clement?
A-No formal transfer except one verbal
agreement to enter into partnership on the
conditions before stated.
QIDld you give, notice to any of the other
banks in Portland of the change of business by
Clement becoming your partner?i
IA A. 40 not recollect any special person to
to several of the bank officers.
OWL you name one?
Al do not recollect any particular person.
Q-Did you state to any bank officer of any
Of the banks in Portland between the last of
May 1874, when you say the agreement of part
nership was made and the time of your failure
that he was not partner?
Al do not recollect 1t is my impression
that never did.
Q-Can you say positively whether or not
you stated what is false during that interval, if
the statement you make in regard to the part.
nership is true?
Al cannot.
Q-Did you notify the Everett National Bank
that Clement had become your partner?
Al think did.
Q-What officer of that bank did you notify,
and in which manner; whether by writing or
otherwise?
A-To the best of my recollection I gave no
formal notice, but in the course of conversation
with both the president and cashier informed
that he was interested as partner in my bust
ness.
Cat the time of your failure was not al
most your entire discount loan amounting to
between fifty and sixty thousand dollars, in the
hands of the Everett National Bank, either by
way Of pledge or re-discount?
was in the hands of the Everett National in
that manner. To the best of my knowledge
the amount was about fifty thousand dollars
Q-lf Clement was partner and man of
means why was it necessary that the larger part
of the resources of the Bank of Portland should
be thus in the hands of tie Everett National
Bank?
A.-The Everett National Bank required of
me from time to time additional securely
formerly loaned, and also portion of the secu-
rites were placed in the hands of the Everett
as protection against our drafts.
Odd you know that in February, 1875, in
answer to direct inquiry in writing by the
Mercantile Agency, Clement over his own sig
nature, replied that he was not your partner?
Al heard through the agent of the Agency
here, Mr.. Jones, that such letter had been
written and answered in that manner. I don't
recollect the date of this conversation with
Mr.. Jones. I.called Mr.. Clements attention
to the matter and he stated that such letter
and a reply had passed between himself and the
\. Mercantile ca It'll Agency. | asked him what he
plague Jones, that Jones had been boring him
to death or a similar expression, to find out
our business relations 1 told him that per-
haps it might cause trouble, as it was gener.
ally understood, as l thought. that he was in
business with me. He replied that if any one
made any inquiries or appeared frightened in
regard to the matter to refer them to him and
he would tell them that he was connected with
me IN the business, and that if any one said
anything to him in regard to the matter or if
bn hoo d fCsl do
from that source, he would tell them frankly of
his position in connection with my business,
and that he was partner in the concern, but
said he, Jones shall never know if 1 can help
1t anything about our matters until we get
ready to tell him. and explained again about
being bored by Jones. rested easy with this
statement thinking that he meant just as he
said.
Q.-Was or not, during the winter of 1875,
the credit OF the bank called seriously in ques-
ton, and did not many of the depositors come
to see you about the standing of the bank?
Al think that about the time the letter of
Clement to the Mercantile Agency was written
number of the depositors asked me in regard
to the matter. I think there was tsome uneasi-
ness among the depositors of the bank, grow
ing out of the letter. will state that I think
most OF those who spoke to meiin regard to the
matter, referred to Mr.. Clement. I had no
serious trouble from that source
Q-Did you tell any of the depositors who
IiuS Cdiicu upOu you, III Oruer 10 IeaSSuro Cnem,
that Clement was partner; if so, give the
names Of any and all of them whom you
SO told?
Al think told several that he was a part
ner. think told G. NJ Rice & Co. 1 can
not recolecl the names of any other customers
of the bank with whom had that sconversa-
ton at that time.
Q.-After the denial Of the partnership by
Clement to the Mercantile Agency, was the
rating of the bank, as tol its credit, on the
books OF the Agency, essentially lowered?
Al think it was
Q.-After the agreement of partnership was
made, as you say, in the last Of May, 1874, did
Clement retain his deposit book, and was the
sums which he subsequently paid in to the bank
entered upon that book, and upon the books of
tho bank, as deposits as before?
Ale did retain it and the sums were en-
tered.
Q.-Were you at the time you commenced
business, in June 1872, indebted to the Second
National Bank, or did said bank have any
claims or demands upon you of any kind?
A.-No