Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1893-10-26
THE EXPERTS REPORT.
Expert Brauch'S Report on the
Condition OF Hamilton,
Job & Co.

Job & Co.
In the Iuatter of the Assignment OF
MesSrs, Hamilton, Job & Co.
GENTLEMEN;
In accordance with my appoint
ment by YOU and At your request,
| have examined the books and ac-
counts of the banking house of
Messrs. Hamilton, Job 4 Co., for a
period OF seven wears past, with a
view 10 detevmins rs TO tie correct
ness Of the accounts, the character
of the investments, with a view to
the knowledge of the sane aud such
information as might be OF hene-
fit to the creditors Of SAID banking
house as represented by your COM
mittee. | therefore beg leave to re-
port, that, accepting the original
entries as correct, | jud the clerical
, unitormally correct, there being but
. few errors, and those found making
no material difference in tho result,
But | fiud a vast amount of work
wanting III that detail 0nA evplana-
/ ton ncedhil TO a fair and Satistac-
tory understanding OF the same i'll
its examination. have sought TO
exercise iudiciouS and careful in
/, terpretatiou of the intent of the
parties in interest III the business.
: ! find that no trial balance OF the
n general ledger has been had at any
r time and an effort to balance ac'
}, counts was niado Gaiiy by comput-
ing the amounts received aud
> amounts disbursed, aud any dis
e. crepancies were settled daily by
charging the difference to "long
II and short account, which account
the close of business June 9th, 1898
showed q debit of 81, ,o5S,32,
l. find the capital stock of thC
10 banking house to be $40, 900, SrS,
y, N 400 of which is to the credit o
y Zeph Job in capital stock, and SCI,
in e, GOO TO the credit of b, r, Job, cap
If ital stock. Upon the 5oth day o
ne ne September, 1855, there stood to tn,
Of a credit of zephin Job capital stool
in $40, 900, and TO the credit of b, K
iiss Job capital stock 81 900, The ad
IN ditions made to the capital stool
piy since that time, have been mad
be Is by appropriating from the interest
u" discount or exchange funds; ais
from an estimated increase in tn
valuation of the banking hous
building and fixtures, ! find, how
\, ever, that Zephin Job is indebte
to the bank in the sum Of SI7,454
of which amount SI5,o4S.7I is o
IT. open account, and II, sos, so Is /
J' notes, and that b. r. Job is indeb
ed to the bank in the sum I
-. 7,ooa.ro, Ss,345.3i being IN ope
r. account, and SI,656,SS III note
~. These two accounts and the oblig;
fax tions are a legitimate charge again
any interest the parties have al
- amount together to S24,456.7S
against the capital stock.
find that the eXpense in Il
conduct of the business from Ja
h, uary /, 1887, to January 9, IS9
cir and chargable to expense accour
to be S2S, ,o25.44 and losses on lol
and short account 10 he S2,63S.,
,ro a total Of S3I, ,563.76.
| also find that the revenues d
rived from the business to be
follows:
From the interest fund S29, Io5.
From the discount fund 9,557.
ser
Total .......... S38, COZ.
ity This amount (s3S, ,662. 73 less t
expense account and the long a
ri short account, a total Of S3I 563.7
ere shows a balance ois7 o9S 50, viii
YES is the net amount Of the profits
, to the result Of the working Of