The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1883-01-18

$9,054.54. He had deposited in %
banks over Tennessee $200,54424.
He is entitled to credits for money
paid out, $11, 427.42. This makes
a total of 1921, 026.2O, leaving a de-
felt of $31S,379.4l. In addition he
is chargeable with so U. S. bonds
which with interest amount to $S4-
287.50, which makes the total de.
falcation
s402, 666.91.
When Mr.. Fleming entered the
office as clerk in March, 1878, be
found the cash account short be-
tween ten and twenty thousand,
and it increased gradually until on
LIST January 1881, it amounted to
Sal, 000 While in New York fund
ing bonds Polk drew checks to
large amount upon the treasury to
various firms there and he lost heav-
lily in L. Dc N. r. r. stock with Vic
tor Newcomb, also Bslng in Mem
phis and Charleston stock. He al
SO engaged heavily in specializing
in Tennessee bonds, though there
are no papers to show how heavily
he lost in either. He invested SO
600 with O'Conner in Alabama
iron works, between $4,000 and
$50, 900 with d. B. Cooper and Var
Leer Polk in Mexican mines, which
the committee think can be at
tached by the. state, and that he fur
nished all the money for the walnut
lumber investments of D. B. Cooper
He invested $4,000 in the Ameri.
can purchase by Cooper. On Dec
q, 1882, Polk drew out OF the
banks $4,000, and received $36.
666.47 from the L. & N. as taxes
He also received several Other
large amounts. OF this he deposi.
ted in Nashville banks $40, 900 and
the balance he took with him, tax.
ing other sums from the safe as
they came in. The amount of ac-
tual money he had cannot be as.
certained.
On April IL, 1882, Polk made a
statement of account to the legisla-
ture and in order to balance the
books he drews checks for large
amounts on other banks and depos
tied them in several banks with the
understanding they were not to be
presented for payment in several
days. They gave him for these
checks certificates of deposit which
he showed to the legislature and
thus made his books balance. AT
ter the settlement was passed he
took up these various checks with
his own and thus obliterated them
without the aid of a dollar. The
banks that thus assisted him in this
swindle and the amount of false de-
post certified to are as follows.
Mechants, Nashville 80. .$57, $4,000
Nashville Savings .. SO, 975 rs
Mechanics, Knoxville 1900. 10000. 90
First National, Columbia. -. 100000
Total. ............. $166, 1923. 20
AS to these four banks the COM
mittee are of the opinion that their
conduct is indefensible, and they
are equally responsible to the state
for the injury resulting therefrom.
By their conduct they have enabled
the treasurer, M. T. Polk, to make
a false statement of his account
with the legislature and to continue
in office, whereby his then large de-
fault has since been increased more
than 100000, and the state has
been wronged and injured and the
encouragement should be instruc-
ted to at once take such steps
against said banks as in his opin-
ion will be proper to recover from
them the loss accruing to the state
for their conduct, or, at least, to
hold them liable for the amount of
the credits which they wrongfully
entered on Mr.. Folks account as
treasurer. The checks drawn by
Mr.. Polk to balance the false cred
its are all signed by him alone and
payable to himself, and are not in
compliance with the law, and &C
ton should be taken to hold the
said banks liable on the same.
There are also large number of
checks drawn by M. T. Polk, as
on different banks
throughout the state which were not
properly countersigned by the
comptroller as the law requires, and
which were paid by the banks. For
all such checks so paid the banks
are. in the opinion of this commit
tee, liable to the state, unless they
IAN show that the state in fact re-
,eived the benefit of the money paid
On same. This the committee has
ound the case in many instances,
while in many others they can find
10 evidence that the money was ev-
II paid to the benefit of the state.
These checks will reach perhaps to
$4,000 in all. They recommend
hat the attorney general be instruc- |
ed to examine into these checks,
nd in all cases where he can find
70 evidence that the state has re-
eived benefit of the same that he
axe all necessary steps to recover
anne from the various banks.
In making his settlement Jan 81,
8S1, he received from Thos. O'Ccn-
er a certificate of deposit in the
bank for $26, 900 to COW
r his deficit. This deposit did not
ppear on the bank books until two
lonths afterwards. This, added to
be false entries of the other banks,
lakes 1892, 529.75.
If the state realizes on both his
onds and the evidences ofdebt left ]
Y Polk with Childress, it may al
D be able to recover enough from
lese banks to cover all losses.
1t appears from Fleming's testi :
Iony that Polk was the victim of ]
larpers. Besides the numerous
at home in which he
as bled by his prefessed friends
" hundred and thousands, while
/ New York Victor Newcomb in
uced him to buy L. 81 N. stock
lille he was himself unloading.
e cursed Newcomb vehemently
1d called him scoundrel. He
as in a Memphis and Charleston
Dol with Newcomb and O'Conner
Id they plucked him hea Sily.
Conner had Polk under his
Iumb and always drew on him for
hatever money he wanted. Polk
Id Fleming IF ever get O'Con- !
sr's foot off my neck Phi kill him,
od-damn himr' He got large :