The Portland daily press., 1879-07-19
by TELEGRAPH.
THE BIDDEFORD BANKS.
A Prominent Gentleman's View of
Judge Humphreys Duty.
A Significant Letter Which Mr.. Chapman
Left


BDDEFoRD, July ia prominent gentle
man in conversation to-day in regard to the
suicide of the late Mr.. Chapman and the con-
dition of the bank, said he was very much as
tonished that the report of the National bank
examiner was not to be given to the public.
Judge Humphrey, it is true, was engaged by
the directors of the bank to investigate its
affairs, and had stated he considered he was
bound to report to them, but he had also
stated he didn't know whether he ought to
report to the government also. Now, said this
gentleman, what are the duties of bank
examiner? If he finds bank in condition
that is provocative of public scandal, under
circumstances which give color of reason, at
least, for that scandal, is it not his duty to i'm
mediately report to the government and
relieve the public suspense, or rather, the
suspense of stockholders and depositors?
This gentleman says he was so fortunate as
to see one of the letters which Mr.. Chapman
left behind him. In this letter Mr.. Chapman
states that the load he is called upon to bear
is too great for him; he is took weak for the
burden. He has endeavored to lead an up
right life. He has been led by others into
straits from whence there appears to be no
issue. That his life, if continued longer, would
be but wreck, and therefore he does not care
to exist longer. This is the prevailing senti-
ment of the letter as the gentleman recollects
it. In another letter is contained detailed
statement of all the securities and notes in
reference to the Hobson case. The amount
advanced Mr.. Hobson will foot up S152, 900.
Now, said this gentleman, my impression is
that banks are not allowed by law to loan over
ten per cent of the capital to any one indivi-
dual. He cited case that occurred in Boston
short time ago where one of the banks
loaned over ten per cent to the City of Boston
claiming that the security was, of course, per-
fectly good, and the answer was that the
statement that the security was perfectly good
was not sufficient answer. The question was
not whether the security was perfectly good
but was the loan in accordance with the law
Mr.. Chapman was man of great intelli-
gence, admirable habits, exceedingly con-
scientious. He was not man who would do
wrong act, but he had the greatest conf
dence in Mr.. Haines and looked upon his
Judgment as sound. Mr.. Haines was one of
those men who fascinated nine hundred and
ninety-nine men out of thousand, but he
never allowed himself to De put into position
where it would be impossible for him to say
II am not responsible had nothing to do
with this affair" The gentleman said he I'M
derstood that despite the impression that Mr.
Haines was an endorser on the Hobson paper
for the $4,000 advanced him, it would be
made known that he had not dollars en-
dorsement. We all know, said he how bank
affairs in Biddeford are managed. In Port
land banks the directors, in most cases, if not
all, meet every day to discuss the affairs of
the bank and discount papers. Here the
directors meet perhaps once fortnight. One
or two men, of the directors, manage the bank.
What do the majority of the directors know
of the ACCESSIBILITY of discounting a mans
paper or not They leave the affair to some
one or two, or the cashier. The most of them
have business of their own, so engrossing, they
must rely on those who can give their time to
the business.
Mr.. Chapman's will is in favor of the
National bank instead of the Savings bank
as previously stated.
Examiner Humphrey has gone to Bangor to
make up his report.