The Forrest City times., 1902-02-28
THE HUDSON BANK cLAl1,


 the claim known ns the Hudson Bank Claim, so much discussed at present in political circles? What is itp Is it just and valid claim due the Far mer's National Bank, of Hudson, New Yorky 1fso lets pay it and not stand before the world ss repudiators of our just debts. The bonds in controversy consists of . buds of the 1889 series calling for. interest and all, the sum of S65 000. These 9 bonds were in 1896 fund in the vaults of he Union Trusl Company, of New York. and were sub sequentlY burned by the Earning Board. Outing the last session of the egislature, January 2l. just after the meeting of the legislature. Senator Short introduced Senate bill No. Sl: To require certain State officers to give effect tue finding of State Debt Board in matter of certsin bonds. (See l page 30 of Senate Journal This bill Eproyi ded, not that the Judges of the I commission to inquire into the validity | IT invalidiiy of the claim. but that i'm | ms sdlately after it's passage the Cover nor, Treasurer, and Auditor shsll exc cute and deliver to the Farmers Ns- tioual Bank, of Hudson, New York, CT it's attorney. new bonds of the State of Arkansas, for and Tn exchange of the same, etc. See Committee Report page i93, $ J.) The bill to constitute the 1 jadges of the Supreme Court special commission to inquire into the validity | T invalidity Of the claim came up later, March 2l, after some one-Sen. Jones l recksn-had 'injected morphine into the first bill which provided tor the payment of the claim. To explain, tne Senate appointed committee 10 in- qulre into the validity or iuyalidity of tue claim. aud after most painstaking 1 md thorough investigation made theIr l rel ort. which can be found on r. D., l93 Q l97 $ J. Now let's see what they find after searching the records of the funding act of 1869, winch was psssrd ln the dark, and to Arkansas, gloomy lays that make good men shudder lu 1 tink of. which was passed. as Fish pack proved, with one Wm. r. Denkla 't the helm. at once the agent of the Dend holders and the agent of the hood
 rrs here st Little Rock. That same Denkla, that admitted 10 one Levi. | Fletcher that he received as his and 'is associates shares 52 Ter cent of thr Il 370 0C0 lloiford bonds. The finding nt this act was done in the office Of the Unlon Trust Company, aud this same DeHkia hung around there. The IIuG. >on Bank Company claim that Whe. they went over to New York to fund their bonds this man Denkla gave them Holford bonds for their old Req Estate Bonds, winch were valid, enter -d their old bonds OH the record in his own name and issued to himself gooC bonds of the series of 1869. and Wher he funding had been finished he l-fl D of them. numbering from 197 10 S04 inclusive. and sos 10 s22 inclusive, if the vaults of the Union Trust Company They, therefore, claimed as they wer, defrauded by the agent of the State out et their valid bJuda. and as they found 9 of the 50 that they shaulC , have in possession of the State, tha they, the true owners, should have pos session of them or since the Burning Boald had burned them that tbp, should have new boDds to cover saiC 25 old bonds and interest to date Sc, 5 J. page l9i. Now this sounds all O K. but the records show that. no Denkla but the Union Trust Compan, was the states financial and exchang, agent as well. There the records AT, against them.
 On page l95 of the Senate Jonrnal Uuder clause 6. you will ind the follow 'ng: sixth. I he records show that 8 bonds of the lS69 serles delivered 10 tl, Cnl0n Trust Company, got upon tn market and was paid by the State How dic this happen ? The attornp' tor the bank, in explaining this, say tha part of the funding record must b, gone, but We found a copy of this fund lfg record here III the state Treasury tbe original was left in the vaults o the Union Trust Company till lS96 They are both alike and We thlnl unlikely that the same page Df both would ba missing. Record against them again
 On Iage l96 of tie Senate Journa we dGd the following embodied m tn, committee-majority report: Leonard sheldon and Foster took out the new bonds that were issued to them. pur them on the market, and the State Ina, paid them Dehkla used ). the recore says, were issued to him and the Stnt, has paid them. The 25 that the recart >hoas were issued to hlm.-aud ar, ,he bonds in controversy-wr left il tAe vaults of the Cuian Trust Company together wI!h the HOIford bond. which We must conclude belonged [, D nkla, KS the officers of the company sa, he was there in and out, etc, and IL, only reason we see why Drukla left the q new 5onds, winch belonged tt him, in the vaults of the Union Trust Company is because he took out 3l new bonds which did not belong to him wele not eXchanged-that is no oic bonds given te the Unios Trust Com pany for them. He, Denkia, or some one used hem. and the state has paid them We believe the State has nol only paid these ? bends, but Denkla got in addition bonds of the ls6q series, instead of his of the lS7t series or lioford bonds Therefore ttcy say ip conclusiou-We find that t1 .f.