The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1875-11-13

pay a bonus or consideration for deposits
The deposits from January l, lo'o 70
October |, 1878, averaged $50, l43.Z5
William II. Wolf, cashier Of the Sec
ond National Bank of Parkersburg, tes'
tilted that his bank had held deposits
averaging from $4,000 to 81 900 since
its organization in 1865. To his know.
edge neither the Auditor, Treasurer or
W. +. Burdett, had ever approached
ANY officer Of the bank with view OF
receiving recompense for securing It's
deposits, :,
John II. Hoffman, Cashier OF the Nor
psntown Bank testified that his bank
never paid any bonus for deposits, or
was approached on that subject. In the
spring Of 1874 the bank had about So
OOJ of State deposits. About that time
| Treasurer Burdett drew unusually large
drafts, and stated that he did so in con-
sequence of rumor that he had made a
private arrangement with them, which
/ he was determined to show did not exist
The drafts were for the University and
the Asylum.
james II. Shepherd and George NJ.
Beethoven, directors Of the Jefferson
Savings Bank, at Shepherdstown, testll-
ed that on June -, 1874, their bank had
loaned W. 7. Burdett 81 500 on note
endorsed by John s. Burdett and TWEEN
ty.iive shares of Kanawha Valley Bank
stock AS collateral, at six and subsequent
ly nj eight per cent, their regular rate
being ten. Mr.. Harrison, their cashier,
stating that Mr.. w. Y. Burdett would
keep from $4,000 to $4,000 in their bank.
The loan was still standing
BENJAMIN +. Harrison, cashier of the
Shcpherdstown Savings bank, testified,
among other things, rs follows:
Our bank never paid any bonus by
way of dollars and cents for securing
and retaining the State deposits, but may
have been influenced to give VIM. /
Burdett loan ut lower rate of Interest
than their usual rate in April, 1873, !
WAS in the city of Charleston asa nIted
States Grand Juror; was in the Treas
urers Office John :. Buidctt remarked
inst his son had subscribed 10000 stock
in the Kunawha Valley Bank, and to the
best of my knowledge he said he had
paid in half, and given stock note Tor
the balance, and had been notified that
the stock note must be paid up; and that
| he wished to get II loan OF $1,000 from
| our bank; that his son would give his
note for 81, 500 with himself us security,
and would like to have it at per cent
/ interest, AMI as additional security would
deposit with uS an equal amount of Ma
nawha Valley Bank stock rs collateral,
and conveyed to me the impression that
he would favor our bank with State de-
posts if he could.
Mr.. Harrison added that u loan was
subsequently made to William T. Bur
dett on the terms before mentioned, and
that the loan had since been twice renew
ed. 4 letter from William Il. Burdctt
To Mr.. Harrison, in relation to II renewal,
was read before the committee. 1t con-
Guides with these sentences:
Ifyou can allow me t. renew, You
will not find me unmindful of the favor.
But il You cannot, ut least let me renew
for short period until ] can dispose Of
the stock and send You the money.
There are many things worthy of your
consideration. which | could say 10 you,
were We face to face which do not care
to put on paper.
ticorse Adams, former cashier Of the
First National Bank at Wheeling, tcsti-
/ fed that he had no agreement rs to the
bonus or consideration that was to be
paid for the deposit of the State funds.
j. w. Matthews, cashier OF the Bank
/ of Lcwisburg, testified that his bank had
/ hc.d deposits averaging about $1,000;
! had paid no bonus to anybody, but had
/ loaned W. r. Burdctt s., $40 on Il note
| endorsed by J. 5. Burdctt in 1873, which
was secured by collateralS and been
renewed ever since at per cent, the
usual rates OF the bank being II per
cent
NJ. \. Chandler, cashier of the Ohio
Valley Bank and it, predecessor, the
First National Bank, testified That during
/ ISL the State account was oyerdrawn
some $1,000, which was made good IN
tho fall of that year, AMI that since that
time the deposit had averaged from $4,000
To 5000. The bank never had any
agreement or understanding as TO any
bonus concerning deposits.
GOV. JACOBS TESTIMONY.
On the subject of the rreducibe school
fund. Governor Jacob testified substantl-
ally Is follows
Probably in the latter part of May,
| 1873. VIM. r. Burdett brought into the
/ Governors office letter from George
| Admins. cashier of the First National
Bank of " hecling. whish seemed TO
| have accompanied the quarterly state
[ mrnt of the bank, which was one of the
State repositories, for the quarter com
mencing April |, 1873. The PurPort OF
the letter was: "Iou will see the deposit
/ OF the State has been diminished -, l6O
/ This is owing to the draft OF the Auditor
for that amount Mr.. Burdett asked
witness if be knew what the letter
meant; to which he answered that
he did not, a no money could
be- drawn out except by the
: check of the Treasurer Mr.. Burdett did
not seem to understand the transaction
himself. He came to witness, the latter
supposed. for advice and information.
Witness told him he must inquire about
the matter, for if money was out OF the
treasury somebody was responsible. Mr..
Burdett promised to write to Mr.. Al
ans for AN explanation. Witnoss after
ward inquired whether he had heard
anything in regard to it, and was told
that he had not, and was lead to believe
that he had not written to the bank.
Witness wrote to Mr.. Adams for an cx-
PLANTATION. The reply was that this r.
100 was the interest on the portion OF
United States bonds held by the board
of the school fund; in other
words. on the lrreducibc school fund;
that this bank had power of attorney from
the Auditor to collect the interest on these
bonds from the Treasurer Of the United
States; that the bank had collected 1t;
that there was some irregularlty about
the power OF attorney, in consequence OF
which the bank had applied to the Audi
tor for power Of attorney, and after some
. 4. Ia. rrnSrpt