The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1876-02-16
BANK OF PORTLAND.
The Case Still ON TriaI-Mr Patten ON
the Stand-He Tells an Interesting
Tale.

The case of the Bank Of Portland is still on
trial before Judge Fox in the o. S. District
Court Mr.. Patten was recalled yesterday
morning and testified in substance that from
the first day the Bank of Portland commenced
operations until the day of its failure, he had
not found single day when the books of the
bank were correct. On Aug. LIST, 1873, there
was discrepancy between Goods ledger &C
count and the Everett National Bank account
of $9,257 .66-that is, Goods account showed
that the Everett National Bank owed him so
much more than it really did. The books of
the Bank of Portland showed upon an average
of $4,000 more due from the Everett National
Bank than was really due. At the time of
the failure, May 4th, 1875, Goods loan account
shows $12S,9O637; the co rect account was be-
tween $68,00 and $4,000.
The Bank of Portland began business June
"a, 1872. Witness found that in the first week
of its business. Goold took out $4,000 by check
on the Everett National Bank payable to the
cashier of that bank and placed that sum to
the credit Of the Second National Bank of
Portland, which then had an account with the
Everett. This check nowhere appears, nor is
the amount of it anywhere found on the books
of the Bank of Portland.
June 10, 1872 another check for $1,000 81
was paid by the Everett National Bank from
the funds of the Bank of Portland, and paid to
the credit of the Second National Bank. This
amount does not appear on the books of the
Bank of Portland.
business Jan. "a, 1872, the deficit in the re-
e A..
about $16 2634S.
The following tabular statement shows
comparison of accounts between the Everett
National Bank and the Second National Bank
at the commencement Of business, June 1st,
1872:
Balance due Second National Bank by &C.
Remittance May 81, credited July aS Sq 81
8 9,6O6 66
Checks drawn previous to June 1........$16,1O2 81
Actual balance due to Everett. .........$ 64s6 Oh
Second National Bank account shows bal
ance due from Everett ................. $40 81
Discrepancy. .."..:."............s 1866 90
When the balance of cash of Second Ma
tonal Bank was transferred to the
Bank of Portland, August 81, 1872, cash
items on Bank of Portland's books in
Deficit in resources Of Second National
Bank. Observation-Disclosures. .$16,263 48
There was actually due the Everett National Bank
1872. 80: s,5le IT
land showed balance due from the Ev-
erett National NEUTRALITY-SUSPICIOUS.. 12.165 IA
Making discrepancy of...........$2O,6S 1 81
This may be accounted for as follows:
Capital stock at commencement. .........S 5000 90
Check drawn in favor OF I'd National Bank 1880 90
Check OF I'd National paid by Bank of Port.
Lost ,snn in cash items August Slst. sSs s q
Less check hsssi from I'd National Of sSss 90
$21, o98 81
On August 1. 1873, there was due the Everett Ma
tional Bank from the Bank of Portland $2.9t7 81
B ank of Portland books show balance due
from the Everett. Observation-Disclosures. 6,34o 70
Discrepancy. ........................s92 57 &C.
find Irregularities in the accounts of the
Bank of Portland showing deficiency ofS62 $50 90
The following statement made up from all the in
formation within my reach shows the condition of
the Bank of Portland at the day of failure May 4h
1875:
LIABILITIES.
Due other banks ......."...$ 46.74S p
S116,6sO 27
RESOURCES.
Notes pledged to other banks. go SCI, 1853 IS
Small notes, &C., past due....... 913 81
Two notes VS.. Kimball Bros..... 2,473 80
Receipts of G. H. Knowlton, and
fixtures, say. ,.,.............. 1000 90
--$7O,75O 90
.$45,s29 81
DEFICIT.
Probable amount put in business at COM
%
Amount received from dscounting paper. 10000 90
Amount to be accounted for. ........$ 6l, 429 81
ESTIMATE OF OUTLAWS sc.
deficiency at I'd National Bank, $4,000 90
| Interest paid on say S25,O0O-2 yrs. 10 mo-,
........................... 5000 90
Internal Revenue, say .................. 1000 90
Express and Teegraphing, say. .......... 1900 90
Incidental Expenses of Bank say. ...... 1900 90
Mining Stock, say. ACKNOWLEDGEMENTS. 1000 90
Private Expenses, say...".... ......... 1000 90
$4,000 90
Leaving to be accounted for say $4,000.
Cross-examined at 5 p. m.-This $4,000 1
cannot account for in any way.
The following uuestions were then asked nv