The comet. (Johnson City, Tenn.) 1884-1916, 1912-03-21

and he admits the un-
certainty of his Investigations tpp 4o
of report, bond and coupon exami-
nation but there was no uncertainty
about his charging it up against me-
This was an original collateral bond
in the City National bank, on note OF
50, 600, May 1909 Bond s, district 3,
was delivered to Kelly Bros. Decem
ber 1908, in payment for work In
April 1911 wrote them to send certain
bonds here for payment, among 9th
ers this bond, which was sent to the
Unaka National bank by the Central
National bank of Portsmouth, y.
Letter from latter bank to the Unaka
will verify this, and show that they
sent bond s, district 3, among others.
took No. to City National bank
and made simple exchange, in order
to pay the bond that first came due,
for bond 6, not at all changing Ine
value of their collateral, nor was lheie
any entry of any kind made on Ihe
books of tie bank. ] took bond NO .,
districts 3 to the Unalka, and IL was
paid instead of bond No. 6, district o
and the $500 remitted Kelly Bros
Thus one bond was paid and cancelled,
it being bond No. 6, and bond is now
held as collateral by City National
bank.
81 hereby certify that the statements
above made, as to bonds so far as 70
this bank is concerned are correct.
Sometime back we found that our
loans and discount account was over
$500, and we were able to trace it TO
the source stated above, with reason
able certainty, before Mr.. Ellsworth
called my attention to the facts above,
| and | had once stated TO Mr.. h. that j
thought that we could help him out
to the amount of $500 We now hold
bond No 8, district No s for collect
ion from Mr.. Harris, and can if desir
ed pay this $500 over to him, and de-
liver bond to the city, instead OF re-
ducing the amount of the note, as the
bond is past due. This will relieve
Mr.. Ellsworth from an apparent 5000
liability to the city.
"The statement as to bond s district
3, is also true, and the statement that
we remitted Kelly Bros, bank for
$500 on account of that transaction is
also true. Bond 8, was among the
bonds received for collection by us.
Mr.. Ellsworth states that the city
warrant NO. 1l75) shows that bond 6
was paid, and as the auditor states
that it is cancelled and in possession
of the city, the exchange with the
City National must have been. made,
as stated, for the report also shows
that bond No. was one of the original
collateral bonds held by the City
| National,
"a. B. CROUCH, Cashier"
3. There is also an item of $50 fol
!, payment of interest coupons, illegally;
from bond No s, district No 3. These
, were due and paid soon after Dec. l.
1909 and Dec. |, 1910, and as bond No
, 8, was held by Kelly Bros. until April
1911, as above shows, these were legit
, mately paid and the charges OF $6(
eliminated.
Two coupons, Nos. l and 2, from
t bond No. q, district No. 2, $50 arr
! also charged against me. No warran
was ever issued against these coupons
: as a careful search of the warrant reg
+ lister will show. They were ''clippet
. from the bond" as stated in report ant
not paid and pasted in coupon book by
: some error This charge should b.
eliminated.
( Practically all the smaller item
| charged can easily be shown to he II
error, but | do not want to make thi
statement SO lengthy. Two or thre
e items have not yet thoroughly in
t vestigated, but am doing it as quickI,
Y as it is possible to do, and hope soon t
h have it all cleared up, knowing that
!, can be. ! have my living to make an
II have to devote a certain part of m
!, time to that, which naturally account
e for part of the delay.
+. +. Il. ELLSWORTH.
3 r.L;r c,,r,n ;s the on