Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1884-05-08

TO adjournment.
The report of the committee ap-
pointed at the previous meeting to
investigate the affairs of the bank
was read to the meeting as follows:
Mr.. CHAIRMAS:-T The committee appointed
| one week ago to investigate and enquire into
the condition of the assets of Henry's Bank,
so called, and other matters, respectfully re-
port rs follows:
That they have examined the accounts en-
| titled Bills Receivable. PromisSory notes due
| they are able to determine in the limited tine
| given TO this examination, they have discovered
| no serious errors in said account and that they
have examined the cash account from
| April llth, the day business closed, back for
several days, and it seems to balance correctly.
| That they have examined the accounts of John
J. Ross, Joseph Ii. Gundry, Marshall & Ilsley,
| bankers in Milwaukee. and some Others back
| for few months anterior to the failure That
| two of the committee Lave been to Linden and
looked after the value of the lands and mining
| interests in that vicinity, and have sent mes
senger to ID A'geville 10 look up some matters
of record; nave written letters TO Dakota to
| ascertain the value of land there.
| After such examination your committee sub
! NIT the following facts as of material interest
| to the creditors:
That VIM. T. Henry and Mrs. Strachan were
/
! Strachan. deceased. that John j. Ross and j. NJ.
Smith were sureties on said administrators
bond, and that MIR. Henry, at the time of his
death. july 1888, was Indebted to said estate
in about the sum of $4,000; that Thomas r.
| Parmee was the cashier of said bank. and is
son of the assignor Mrs Emma Henry.
That on the 9th day of April, 1884, there were
| transferred from the assets of said bank to the
| said Strachan estate notes and mortgages to
! the amount of four thousand, nine hundred
! and ninety-eight and 30I00 dollars, and with in
kV..
| dred and forty-five and 40-l00 dollars; and on
! the 10th day of April one hundred dollars We're
| charged TO said account; and on the llth two
| hundred dollars more were charged to said ac-
count, making in all transferred from the
assets of said bank on the 9th, 10th and llth of
| April 1884, the sum OF i've thousand, seven
hundred and torty-fve and 4O-lOO dollars That
all these assets, except the items of sl00 on the
| 10th and $500 on the nth, We're delivered by
said Parmele on the 9th of April TO }. NJ. Smith,
who is also attorney of said estate, and that
according to the scheduled statement by the
assignee said bank still owes said estate on
! open account the sum of $2,>S9Sl
That on the 10th day of April, 1884, there were
! taken from the assets of said bank the sum of
! fourteen hundred aud thirty-five dollars in
notes at their face and transferred to the es-
| tate of Martin Phealen; that no mention is
made of the accrued interest on said notes
! That on the same day, April 10th, there was
| paid to j. NJ Smith, attorney for said estate
| from the cash assets of said bank the sum of
! two thousand dollars; that the entry on the
| Dodgcvillc to pay Fitzpatrick judgment and
other claims, $1,000" That on the llth day of
| April three thousand dollars more were paid
| from the assets of said bank to the estate of
| Phalcn, making n sum total paid from the
assets of said bank to said Phalen estate on the
! 10th aud llth days of April of six thousand
| four hundred and thirty-ive dollars not ae-
counting for accrued interest on said notes,
! leaving said estate indebted to said bank in the
sum of one hundred and thirty-one and l7-l00
| dollars, besides said accrued interest. That
| IlOmNg ~. Burmelp administration
6OHfS non of said estate and that X. ID. Pulford,
| w. II. Curry, John Graber, Jas. W, Hltchison
and John Hadheld are his bondsmen, and that
sad Parmele Informed us that with the excep-
tion of two thousand dollars paid 20 j. Nj.
| Smith, attorney for said estate, he paid said
assets to his bondsmen.
That Johh .. Ross was in Chicago, Ill.,. on the
10th of April, 1884, and gave his note to the N
w. National Bank for five hundred dollars, and
had the proceeds placed to the credit OF Henry's
| Bank; and IT also appears that he pledged his
| word for the payment OF over drafts on said
| N. w Nat Bank and that upon his return 10
Mineral Point on the llth of April there were
| paid TO him from the assets of said bank, on
account of his note given in Chicago, the sum
| of five hundred dollars. There were also trans
| ferred to him from the assets of said bank, cJl-
lateral security for said over draft, promissory
| notes. TO the amount of twenty-eight hundred
| dollars, which he still holds No liabilities hav-
! ing been incurred on his pledge we understand
! the notes will be returned. 1t appears on the
| examination of his account that the bank is
! indebted to him on open account in the sum of
! three hundred and f0rty-two dollars and sixty
| two cents.
That Joseph H. Gundry. the present assignee.
/ has had considerable deal with said bank for a
! long time, especially through January, Febru-
airy. March and April last; that on the oath of
/ January he drew out 5000, leaving a balance
| of Sl,29128 that the last deposit was made
| March 3D., and that then there was balance in
his favor of SD .l0SSl that on the 10th of April
| there was balance due him of S2.779ll That
| on the 10th of April he obtained draft for
| S5l5, which is charged S5l5 10, and has since
/ been protested; and that on the nth OF April
! he drew out on his check 81 500 which leaves
| him indebted 10 the bank in the sum of s2O.S9.
That after the close of business hours on said
| 10th day of April, Emma Henry, the present
| assignor, and legatee under Vim. Z. Henry's
will, sold and conveyed 70 said Joseph H. Gun
! dry quarter section OF land in the town of
Mlihin, in this county, for 90,8O0 That he, as
/ claimed by Parmee, paid for it 10y giving said
check for $500 and $500 in per cent. gov
| ernment bonds valued at $1,000; that said deed
is dated April 10th and recorded April 18th, "a.
That these $500 in L. s. Bonds, valued at
| So 600. is the three thousand dollars paid by
| Parmele 20 his bondsmen on the Ilth day OF
| April the day the bank failed, To help out the
| PhaeH estate. Thos. 4. parmelc, treasurer
| April llth, drew out slG.5i, church money.
| balancing That account.
Amounts paid out on the 9th, 10th and 18th on
! the foregoing accounts,
To Strachan estate ......... 7f5 10
| 10 John Ross as collateral &c ......... 1900 90
To Joseph II. Gundry, trade in land 1900 90
To I. T Pa mele, treas. Trinity church lO2 81
lOkhLss.ss.s lottoA Dt
! That the managers OF Henry's Bank borrowed
| OF Marshall & llsey, bankers in Milwaukee, the
sum Of ten thousand dollars and that there we're
deposited as collateral security for said loan
the following notes.
X. } PenhallegOn & Son-due May l.....Si,000 90
F. Allen Jr.-due June G...... 5J0 %
| ThOS. McGinty q Geo. Chamley-
due NO 10 ....., +-.,. ...... ...-.." dJO W
n. Grsber-on demand l,216 80
| l.. Graber and $. ". Wbitc-dne Sep 2l- 60 03
John Hadhed-due June 2...,..,...,....... 5000 %
Ed Cullen-due July $40 90
John Collins-due oct 4................... 800 %
n. K NauMaue-due Nov .................. POD %
Total .......... SO. 400 50
Interest to be added TO the balance Of s406 3d.
It is claircd that there Is balance in the
| New York Bank of s5O.66 although they have re-
| fused to pay several drafts.
That according to the report Of the \. w. Ma
tonal Henry's Bank owes ii S22io 81, but ON eI-
animation Of said account we find a credit Of
/ sl053l6 on April 18th the DAY atter the assign
ment which would make said indebtedness on
I the nth the day OF the assignment sjIf9,9l
That there are now notes and evidences OF
| debt on hand in the hand Of the assignee un-
| pledged 10 the amount Of s1l7596.
That the annual income OF the mining land
| at Linden is from $500 to $500, one-hhif Of
which towit $3.50 TO $1,000 belongs to Henry's es.
| tate That John J. Ross owns one-half Of said