The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-08-07
THINKS THE ATTACK
REFLECTS ON STATE
w. D. Nesbitt Writes to New
Orleans Paper
WANTS INVESTIGATION
Says the Real Facts Are Now In the
Hands of Those Who Are Loud
est in Criticfzfnr
Alabama

Claiming that newspaper articles from
New Orleans reflected upon the state OF
Alabama and the courts of the state as
we'll as the chief executive and himself,
w. d. Nesbtt of the firm of Knight, Yam
cey & Co. yesterday made public letter
written the New Orleans Times-Demo-
crat. Accompanying the letter Is a short
additional statement from Mr. Nesbitt
In reference to the letter Mr. Nesbtt
says:
MY excuse for giving publicity here to
this unpleasant personal correspondence
with the Times Democrat is that the ar
ticle appeared in the Sunday issue of that
paper largely read here, by people whom
know, and because the question involved
Is one that has gone beyond any personal
phase and affects the financial, CONNER
cial and moral credit and integrity of the
community and state.
1.-THE unrestricted circulation of false
and sensational statements but leads away
from the facts, and into labyrinths of con-
lecture.
."There are facts, and there is way to
get them. The knowledge of most of
them is now in the possession of these
'holier than thou communities, who are
criticizing Alabama. Let them send these
70 Alabama and there will be less need
for surmise."
Letter to Newspaper
The letter written by Mr.. Nesbitt is as
follows:
August 4, 1910.
To the Editor of the Times-Democrat,
New Orleans, La.
Dear Sir: My attention has been called
to your special correspondence articles
relating to Knight, Yancey Co., ap-
nearing In your issues of the I'D and 24th
of July.
On account of my inability to promptly
get here copies of your paper, there has
been unavoidable delay in my bringing the
matter to your attention
Correspondent Looking for Sensations
Rather Than Tacts-Evidently, in the de-
sire to be sensational, your correspondent
has made little effort to get the facts, and
has taken occasion to do my reputation
as much damage as was possible by sug--
gestion and inuendo, where ne dld not
attempt to use direct quotations.
Untrue Statements-The statement IN
your issue of July "a that on account or
the knowledge of fraud occurring IN isVo
the firm was kicked out by the First
National bank is absolutely untrue, ana
l have, under date of August 2. a letter
from President Harding fthis bank, say
ing that he never made such statement
In this issue also occur certain state
ments attributed to Arthur W. smlth,
president of the Birmingham trust anu
Savings bank. Mr.. Smith tells me he was
never interviewed by your correspondent
and was absent from Birmingham and IN
New York at the time this interview Is
supposed to have taken place.
The statement that Nesbitt and knlSht,
after leaving the. employ of lnman ~ Co.,
went into business and both falled, Is aiso
untrue. l have never failed. Obligations
made by me have always been met ana
have been fully met at this time. Inc
firm of w. d. Nesbitt & Co. has been
Inundated and the balance of its assets,
through the trustee of Knight, Yancey &
Co. has been turned In to their creditors.
The statement that !, in connection WIN
John w. knight, organized the nfiii VI
Knight, Yancey & Co. land induced w.
J. Yancey, then a prosperous mcrchah.
of a small Tennessee town, to put up Inc
canital for the business" is untrue
Messrs. Knight and Yancey formed the
firm of Knight, Yancey Co. before l
even knew Mr.. Yancey, and some years
thereafter bought an interest
Cowardly SANDER As specimens OF cow
ardly untruth and SANDER the implica-
of July % are fine examples The 1ntl-
nation is that on account OF my pollticai
standing and the friendship for me Oh
the governor of Alabama there mas peeh
no prosecution. This is a personal slanoer
upon both me and the governor OF Ala
bama and an unWarranted renecllon
upon all the people of this state.
Whenever evidence of fraud Is brought
to the authorities In Alabama there VIII
be, as there should, a full and complete
investigation of the charges
The Guilty Should Suffer: If l was
euity of fraud or of the knowledge Of
fraudulent transactions on the part OF
those with whom l was connected in bus-
mess the fact should be made KNOWN
and l should bear msrited punishment.
l have made a full, sworn, uncontradicteo
statement to the federal court In session
here witnesses and documents were In
court and are part of the record TO prove
the correctness of the facts as stated by
me covering all of my connection with
the affairs of Knight, Yancey\ q co.
These have not been and cannot be con-
troverted. They were open to YOU If you
desired the truth. AS shown there the
connection of myself and my brother, H.
TT. Nesbtt with Knight, Yancey & Co.
has been, since August. 1907, that of spe-
cial or limited partners and the fact
that we are now subject beyond the
amount of our investment to the claims
of the creditors Of Knight, Yancey g.
"a Is due. not to the fact that we were
In any way morally responsible, but be-
cause the special partnership agreement
was not filed and published technically as
required by law. / knew nothing of the
fraudulent transactions had by Knight,
yancey & Co. until April of this year. and
In no way have l. directly or indirectly,
profited by them.
will not, without resistance permit an
attack upon my honesty | nave iost my
money / do not propose to SIT idiy by
and have my good name destroyed In Or
der that YOU may have written sensatlon-
aIlv interesting matter for your readers.
THAT YOU may impress the. business and
commercial world with the idea tnat ohiy
at the ports, and especially New orleans
can cotton business be safely done. you
shall not, unopposed. take from me my
valued integrity. =
insist upon thorough investigation.
commend your desire and Will appreciate
your effort in securing thorough lhVes-
tigation of the knight, Yancey GO.
matters Whether there has been lot
gerry practiced. or fraud through uniawlui
UNDERSTANDINGS with the railroads where-
by. these valueless bills of lad1ng were
allowed to be issued, a failure to kno" the
truth, and correct the abuse VIII prove
exceedingly dangerous to commercial ana
financial transactions in the future
Do your duty to the public. When you
have evidence that l was guilty OF fraud
or knowledge of fraud do your duty to
the public and see that am convicted