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er than necessity or justice to the public required, and long af. ter payment of the specie, for the refusal of which payment the injunction was granted. Before and after obtaining the controlling interest in the institution, they represented to the other stockholders and the public, that the institution would be enabled to draw upon eastern banks for any amount necessary to meet any contingencies, when, in fact, it could not draw for one dollar even in Buffalo, until it made its own deposite, which was done to the amount of $5,000. The funds of the bank have in some instances, been mysteriously used or carelessly lost, without the knowledge of the directors. The directors first appointed and who were removed by them, have made use of every means within their power to sustain the institution, by calling for additional instalments, and by using all legal measures for the commencement of the railroad, they were bound by the charter to construct, in giving lawful notice to the Commissioners for its location. In all of these exertions for said o they were defeated by their sudden removal from office y the said Pratt, Wandervoort and Weeks, representing themselves and the eastern stockholders. The undersigned have reason to believe that the forty thousand dollars in bills, taken as above stated, by said Pratt and Wandervoort to Buffalo, were by them put into circulation for their private purposes, and for the return or payment of which the institution has no security, and no evidence of the amount, except their individual notes and receipts. Individuals having deposites in the institution at the time of the service of the injunction, have been and are still unable to command them. And the undersigned have reason to believe the injunction was permitted to remain undissolved for the purpose of enabling the said Pratt and Vandervoort and Weeks and their agents, to buy up the bills of the institution at a discount, and to a heavy loss to the billholders. C. CLEMENS, E. HALL, I. J. GROVIER, WM. CANFIELD.
Affidavit of I. J. Grovier. Wayne County, ss.
Isaac J. Grovier, being duly sworn, does depose and say, that the statement above subscribed by him, so far as the facts therein set forth are within his own knowledge, are true, and those not within his knowledge, has good reason to, and does believe are
Memorandum from Stock Book.
C. Clemens, original subscriber, 100 shares. Ruel Ambrose, do. 10. Assigned by H. H. Farley & Co, original subscribers, 5. Aaron Weeks, 45. Bought of Jas. Brown, original subscriber, 100; S. F. Atwood, do. 5; A. Whitney, Jr. do. 10; R. Stewart, do. 40–155. James Sweeney, 100. Bought of A. Weeks, 100. S. F. Atwood, original subscriber, 5. Sold to A. Weeks. C. O'Flynn, 10. Bought of A. Weeks and sold to C. A. Emerson, 10. C. A. Emerson, 10. Bought of O'Flynn and sold to Dodge & Kibbee, 10. Dodge & Kibbee. 10. Bought of C. A. Emerson. C. S. Mather, original subscriber, 3. Rodney O. Cooley, do. 25. De Garmo Jones, do. 100. Sold the same to Lewis Godard, Feb. 8, 1837. o Lewis Godard, 100. Bought of De Garmo Jones, 100; sold same to E. Jones, Oct. 3, 1837. Enoch Jones, original subscriber, 255, 200–455. And bought of Lewis Godard, 100; and of E. Brooks, 100. April 11, 1838, E. Jones sold to Wm. Vandervoort, 455. Edward Brooks, original subscriber, 100. Sold same to E. Jones, Oct. 3,38, 100. Ebenezer Hall, original subscriber, 5. Isaac J. Grovier, do. 5. George B. Martin, 20. Bought of A. B. Rawls, 10; J. Beekman, 10. A. B. Rawls, original subscriber, 10. Sold to George B. Martin, 10.
Jacob Beekman, original subscriber, 10. Sold to George B. Martin, 10. E. G. Pratt, original subscriber, 2. Sold to Wm. Vandervoort, 2. George Lee, Jr. Original subscriber, 10. Wm. Canfield, original subscriber, 10. Mrs. E. R. Hawkins, do. 10. Miss L. Clemens, do. 10. Daniel Chandler, do. 4. Sold to R. Butler, 4. Richard Butler, 5. Bought of Jas. Williams, 1, and D. Chandler, 4. James Williams, original subscriber, 1. Sold to R. Buttler, 1. Aaron Whitney, Jr. original subscriber, 10. Sold to A.Weeks, 10. H. H. Farley & Co., original subscribers, 5. Sold to R. Andrews, 5. Wm. Roy, original subscriber, 3. Sold to Jas. C. Allen. 3. James C. Allen, 3. Bought of Wm. Roy. 3. Wm. Wandervoort, 717. Bought of J. T. Hatch, 717. Wm. Wandervoort, original subscriber for 200. Wm. Vandervoort, 2. Bought of E. G. Pratt, 2. Wm. Wandervoort, 455. Bought of E. Jones, 455. Wm. Wandervoort sold to Stephen White, 360.
do J. T. Hatch, 300.
do Daniel F. Webster, 40.
do Caroline Webster, 1.
do Laura Weeks, 1.
do Mary Stockton, 1.
do John Norton, Jr, Feb. 12, 1838, 10.
do J. H. Lathrop, 5, . Israel F. Hatch, original subscriber, 717. Bought ol Wm. Vandervoort, 300. Israel F. Hatch sold to do. 717. L. H. Pratt, original subscriber,250. Sold to S. F. Pratt, 125. S. F. Pratt bought of L. H. Pratt, 125. Stephen White do Wm. Vandervoort, 360.
Daniel F. Webster, do do 40.
James Brown, original subscriber, 100. sold to A. Weeks, 100. ... R. Stuart, original subscriber, 40. Sold to A. Weeks, 40.
John Norton, Jr. Feb. 12, 1838, bought of William Wander
Letter from C. A. Emerson, Cashier, with a statement of the condition of the Macomb County Bank.
BANK of MAcoMB County,
To His Excellency
DEAR SIR: During my absence from home I understood that the legislature desire a statement of the condition of this institution, and that the Bank Commissioners were directed to make an examination. I have not been able to see the report made to the legislature by them, but I am conscious that their report will mislead the public as to the true situation of our bank. A portion of the stock has been recently paid in by the stockholders, and the circulation much reduced. Specie and other funds have been placed in the vaults of the bank to a greater amount than the whole of their liabilities to the public. We have also made a movement to have the injunction now upon the bank dissolved, so that those holding the bills of the bank can receive their pay for the same, if they desire. It is to correct the public in this respect that I transmit the actual state of the bank, and request that you will lay the same before the legislature.
I am, dear sir,
MA.comb County BANK,
Statement of the affairs of this Bank, 23d February, 1839.
Loans and discounts, $76,679 10 Due from sundry persons, 1,261 45 Real estate, 2,850 00 Expenses, 3,503 75 Bank furniture, 1,808 30 On exchange, 9,390 00 Due from banks, 3,704 73 Agency in Buffalo, 29,800 56 Bills of other banks, 3,690 00 Specie, 12,962 17
$145,650 06 Capital paid in, $105,420 00 Circulation, 31,585 00 Discounts received and profit and loss, 6,137 01 Deposites, 2,029 09 Due banks, 476 71 Jno. Ward & Co. 2 25
STATE of Michigan, . County of Macomb, SS. I, C. A. Emerson, cashier of the Bank of Macomb county, being duly sworn, do depose and say, that the foregoing statement is true, to the best of my knowledge and belief. C. A. EMERSON,
Cashier. | Subscribed and sworn, this the 23d day of February, 1839, before me, Y. R. BOURNE, Notary Public.
Letter to the Bank Commissioner from the Governor.
DEAR SIR: I enclose you herewith a letter from the cashier of the Bank of Macomb county, accompanying which is a statement of the condition of the bank on the 23d February inst., to which I beg leave to call your attention. I am, sir, Yours, &c. S. T. MASON. To KINTzING PRITCHETTE, Esq., Bank Commissioner.
Letter from the Bank Commissioner.
Detroit February 27, 1839. To His Ercellency
STEvens T. MAsoN :
SIR. In reply to your communication calling my attention to a letter addressed to you by C. A. Emerson, cashier of the Macomb county bank, covering a statement of the condition of that institution, and expressing a consciousness that the report of the