The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1914-07-25

findings of this department. relative
to the latest prior examin alton made
Of this bank. In the report of Oct
Is, 1913, there was. enclosed to yol
a certified copy of the statement o1
the Peoples Bank Of Donaldsonville
as rendered to this office in response
to a called for report of the condi
ton at the close of business on Sept
10, 1913, together with a newspaper
clipping evidencing it's publication
Many discrepancies between the pub
lished statement and the statement
as shown by the books of the bank
on that day were pointed out to you
in my report of that date.
On october "a, 1913, [ visited the
Peoples Banh Of Donaldsonville;
convened a meeting of it's board OF
directors; went into this matter in
detail and advised them that the
matter had been reported to the at
torney general,
The books of the bank show on
July /, bills payable was credited
with $4,000 and the New Orleans
correspondent of this bank was debit
ed with a like amount. Later on,
July 10. a cross entry was made by
which bills payable was debited with
$4,000 and the same amount credit.
ed back to the New Orleans CORE.
spondent. When asked to explain
this cross entry, the cashier, Mr..
Leblanc, was unable to furnish the
advise of credit from this New Orle-
nnnnpnt f,,r
ther questioned stated that the loan
was in fact never. effected I sub
nit that such an entry on the part
Of any officer or employe of the
bank is in violation of section 8 Of
Act 1913 of 1910.
An examination of the minutes of
the directors meetings fails to shoE
that the directors Of this bank have
complied with the provisions of Sec
ton Il of Act 1913 of 1910, which re-
quires that the directors of every
state bank, twice a year at intervals
of six months, shall examine or cause
a committee of its members to inves-
tlgate fully into the books, business,
papers and affairs of the bank, pay
ing particular attention to the loans,
discounts and investments With the
special view Of ascertaining the value
thereof. 1t is required that this
committee shall render a sworn writ
ten report within ten days after its
completion and report of the same
snail be madan d the minutes of the
meeting at Wiafrn the report is re-
ceiVed.
On April Is, 1914, there appeared
what purports to be report of such
"a committee, dated Feb. 26, 1914,
plete SO as to comply With the law,
neither is It signed or sworn to by
anyone. There appears no record Of
any subsequent meeting held during
this year until July Il, 1914, when
a special called meeting was held,
which meeting ordered a suspension
of the bank. Section 25 of Act 179
Of 1902 provides that the board Of di-
rectors Of every state banking in
stitution shall meet at least once in
each month.
The Peoples Bank of Donaldson
vile is located in the town of Don
aldsonVille, in the parish of Ascen-
sion.
It's officers and directors are as
follows: J. A. Dalferes, president;
w. J. Leblanc, cashier; J. C. Bouche-
J. A. Dalferes, AdoIphe Meter, L.
w. Armitage, D. d. Dalferes, F. l..
Trepagnier, J. P. Armitage, Elmer
Hunt, Henry C. Braud, c.. D. Con
dram, 3. K. Sims, B. A. Colomb and
w. J. Leblanc.
Wherefore, acting in accordance
with the provisions of section 13 Of
Act 1913 of 1910, 1 beg to submit the
above facts to you in writing SO that
you may direct the proper district
attorney to take whatever action
you deem proper in the premises.
Yours respectfully,
VIM. L. YOUNG,
State Examiner of State Banks.
Donaldsonvllle, La, July Is, 1914.
Hon. r. G. Pleasant, Attorney Gen
eraI, New Orleans, La.
Dear Sir:-Mr. Young having been
called away from his investigation
into the affairs Of the Peoples Bank
of Donaldsonvil1e, La, a report of
which was submitted to you by him
On the 18th inst, and having in
structed me to complete the inyesti-
cation, I desire to supplement his
report with statement of the re-
suit of my investigation since his
departure, in accordance with his in
structions.
Upon questioning Mr.. Leblanc, the
cashier of the bank, relative to GER
tain items which appeared to have
been collected by the bank, but, not
RENTED for, I found that these
drafts are as follows:
Sight draft with bill of Iading at
tached drawn by Geo.P. Plant Mill
ing Company On the Lafourche Mer-
camille Company of this city, for the
sum of $351.75, and paid by said La
fourche Mercantile Company by
check on the Peoples Bank of Don
aldsonVille on July 8, 1914.
Sight draft with bill of Iading at
tached drawn by Geo. P. Plant Mill
ing Company On the Lafourche Mer.
camille Company Of this city, for the
sum of s8O4.50, and paid by said La.
fourche Mercantile Company by
check on the Peoples Bank of Don.
aldsonyille on July 6, 1914. The
check representing this amount, how
ever, was found by me in the bank
and had never been charged to the
account of the drawer nor carried
as a cash item or asset of the bank
Upon questioning Mr.. Leblanc this
said check was said to cover This
sight draft and bill of lading.