The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1875-12-08
THE BANK OF PORTLAND.
Examination of william N. GoOld.

The examination was continued at 3 D. m.
yesterday as follows:
Q-How could you conceal from the clerk,
Mr.. Kicker, the fact, If it was so, that Clement
drew out so large sum of money, and was o
partner in the business of the firm?
A-The tact that this money was drawn
never appeared on the books of the bank
At Mr.. Clements request the matter Of
the partnership was concealed from the clerk
until the papers could be made out.
Odd Mr.. Kicker keep the books, and was
he in attendance on the bank when you were
away or out of town?
Ale kept the books most of the time with
the exception of about year, when Mr..
Charles L. Goodrich took charge of them. Mr..
Kicker kept the books during the larger portion
of last year, and he usually took charge of the
bank in my absence.
Q-Could go large an amount of money be
drawn in bills without being entered upon the
books, without attracting the observation of
Mr. Kicker?
Al doubt iflt could
Q-When you were so pressed for money
during the last years of business, did you re-
monstrate with Mr.. Clement for drawing out SO
much money and repaying none?
Al did.
Q-why did you let him have more money
after he had drawn out considerable sums
which he had agreed to pay in short time,
before he repaid what he had already drawn?
Al accepted his excuses, not knowing his
private affairs. l had the utmost confidence in
his promises and ability to pay the sums Dor.
rowed.
Odd Mr.. Kicker make up the cash and
keep the cash account?
Ale usually made it up GA the books from
items gave him.
Q-Concluding this part of the examination
concerning the partnership checks, would ask
you, if the story you now tell is true, what mo-
tive had you, what possible advantage was it
to you, to aid and assist Clement, who had
drawn out the very vitals of the bank and had
brought it to, or at least hastened its insolven-
cy, in this scheme of iniquity? Your best
friends, the depositors who had confded in you
and had trusted their money to you, were to be
cheated and defrauded.
Ain allowing Mr.. Clement to draw out this
money, simply fulfilled the agreement had
made with him, and which had previously been
given, without any intention or idea of cheat
ms, defrauding or injuring any of my friends
or depositors or those having business relations
with me. The only advantage [ could gain
would be that of favorable settlement with
my creditors, which Mr.. Clement promised to
make for me at the time these memOrapdums
we're given up to him.
Q-Then it was to gain favorable settle
ment with your creditors that you agreed to
conceal the partnership and give up to be de-
stroyed the evidences that Clement drew the
money out. Is that what you mean?
Q-Passing to another subject in your answer
to question "a, yod account for the deficiency
in your assets amounting to some $25, 900 or
$4,000 after taking out the $4,000 drawn out
by Clement on check you say it has been
absorbed in the general expenses of the BUSH
ness Now calling your attention to the profits
you made by your purchase of the assets of the
Second National Bank, and also to the fact that
it appears by examination that you received in
the two years and about ten months you were
To-. H,,es tha &c t1vyxr of
discoun. of paper, L wish to ask you how it is
that the general expenses of business" could
absorb not only this remaining deficiency, but
also all the profits Of your business in so
short time?
A-The latter part of the question answers
the question itself. My general expenses, in
which this deficiency was absorbed, were inter-
est paid, transfer of money by express and tele-
graph, telegraphic dispatches, money paid for
cashing checks, discounts and losses on mutt
other banks and individuals, books, stationery,
ETC., clerk hire and rent, gas, heating, also liv
ing expenses for myself and family, together
with money laid out for the improvement of
my real estate; also losses on paper, legal and
other expenses. that assumed at the time of
the purchase Of the property of the Second Ma.
tional Bank, which was to liquidate part of my
agreement in purchasing.
Odd you keep any account of your ex-
penses in losses on your books so that it can be
ascertained?
A-Only portion of the general expenses.
Q-You have already stated in the first part
of the examination that your rent, clerk hire
and living expenses were moderate during this
time, that your losses and discounted paper
were unusually small; now wish to ask you
in regard to the other items contained in your
last answer. First, as to interest paid, paid to
whom, and to what amount, and in regard to
transfers of money by express. 1t has not been
ascertained what amount has been paid for
that. What did the expense of Geographic
dispatches amount to? How much for cashing
checks? How much for mutiated currency?
How much for accommodations from other
banks and individuals? How much for legal
expenses in regard to transfer of property from
Second National Bank, and also for the i'm
provement of your real estate?
A-Before can answer those questions
shall have to consult the books of the bank now
in the hands of the assignee, and refer to tele-
grams sent from the telegraph Office. I will
consult them and answer.
Q-You say that only portion of those ex-
penses are on the books. Please sta te in regard
to the last question SO far as it refers to that
portion not on the books.
Al cannot give any of those items from
memory.
The examination was suspended at this
pOint.