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H niMian nuu »» ubTBRNN tDito* AMD rSOMISTOX, awMwgiil *A*J!uwl«I»aat ,,,, “ t*»c««no, II ••*!• •mil t)r|M,c«iiatal*f i<4j*t|‘j£|~!!fV,*N*>y MMora, or Oiv- l—|,b» low,to In koM on lk« Int TaoHajr ■> tin ‘ w ~- .1.A..n off ll th.for.«oon.n,l thrnla tin il- nlkoOoirt-kooto. Ik tkki ooktjrlk which the property It HMnof thkto Mloomat ho (I*•» In • poblfc gosotto SIX• ■ vt urovfooa totha gay af aila> jinlMU mat heat a aibHe aoertoo.oo <ho fir at Tara ..CnSth,”-»••• tha oa-altaar. #f .Mr, .t the place ofpub- 1-7.. ...otr where the tetlcra taatamoatary, ef Admlni.tro- -j T ®V’y i\, Cour i-ho«•$, whert incli *alw ar«t« to held • tk««f l*$r$«toBlPr^pariy,iaaat tof iveu in like roan- S^*Itk , a*KKM**»ei*Or , ino 5 nefelI'BoteteieuathopeWl.ln<l aSaSaUfStMliM will *• «• the Coert ef Ordinary foi -»ll LAX0. eiaat he eahliahod for FOUR MONTHS, for laara »» nil NEGROES, mart bo pebllalied for FOUR ‘“US>*kreaaT »rdar akialate akall be made ihoreou by the ^Ttemfor laetten of AdmlaUtration, m«*t be peblinbed thirty ~ ;4laiai*«ioa froro adiaiiiintraAioa, meat kit/ tix months—for die- - Afiii Artf iafii a^ifor (brecloaare of Morlfafe must be published monthly fitr ertaWllahia* leal papera, fbr tht full swats of tkrts rnapelliai tWIea from Execuiora or AiliuinlMratori, a Bead baa beaugnreaby the deceaaed, the full tpmc* of thru •mMieaUen* will alarajra be continued accoiding to tlieae. the leaa ^ - oirteaaetbarviaa ordered. • huiaaa* nfthiaklndfloutlBMeatoreceiveprompt attention atthe •f tha GE<fRGIA JOURNAL* HfTTANCKS BY MAIL—**A poatmaater may encloae money .MUrlalhapabliahor of aaowapaper.topay the aobacriplion of a oarioo.aoo fraaklha loiter, If wriltouby hiiuaolf."— F.k o JOL, XXXV- Aiid Cash in current.Bunk bill* 0,000 00 $44,034 20 BANK OF DARIEN. Milx.edorvii.ls, Mny 30, 1844. TV,lit Excellency, George IT. Crawford, Governor: 8iu:—Conforming to the Executive order, op iating me to examine into the affairs of the Bank Dsrien, and the accounts of the ugent having its -is in charge, I have the honor to hand you, -fswilh, my report. I found the books and papers the Bunk generally in a confused stale. All tho rrespondence and papers are in such a situation tin preclude the hope of ever tracing the history the management of this Institution, if that were desirable, unless at a much greater expenditure than the legislature probably contemplated. I toon found that 1 could not hope to do more than lopresent you a statement of the condition of the •nets as they went from the managers of the In stitution to the Central Bank, and ns I found them apon the surrender of the Agent—of the nets of tbs Agent in relation to them—and of the Liabili ties of the Bank, and the means to pay them. In the report which follows you will find that state ment. { cannot say, afier great labor and reflection, that the exhibit which I make is accurate, because (have been compelled to seek for that which no hooka or accounts, presented to mo, show ; but that it is nearly correct l feol quite confident. I have the honor to be, Your obedient servant, R. R. CUYLER. REPORT. It appears that certain commissioners, appointed y his Excellenoy, the Governor, in the early part the year 1842, received the assets of the Bank Darien at the principal Bank in Darien, from -nezer S. Rees, late cashier, and delivered the me to the Central Bank. The receipt granted the Commissioners is of file. The assets of Branch at Macon seem to have boon received 'rectly from Thomas King, late Cashier of that ibranch, those from Dahlonega from Messrs Wof ford and McAffee, late President and Cashier of Uhst Branch, and the assets of the Milledgeville Branch from John R. Anderson, lalo Cashier there. Mr. Anderson was appointed by the President - _ d Directors of the Central Bank an officer of hat Institution, witli the particular duty assigned to him, of arranging and collecting the assets of Bank of Darieo, and gave bond in the sum of $10,- 000, for the faithful discharge of his duty. The 'nd bear* date 2 let April, 1842. Tho funds placed in his hands are shown by his "veral receipts of file in the Central Bank, as fol- ows : 1st, hi* receipt for the principal Bank as. ~te, dated 30th April, 18422d, his receipt for he Macon assets, dated same day ; 3d, his receipt or the Milledgeville assets, dated 2d May, 1842, nd 4th, hi* receipts dated 2d May and 23d July, 842, fur the Duhlonega assets. Particulars of he respective discount lines, save in one in- lance, were furnished to Mr. Anderson, and ho as called the Agent of the Bauk of Darien. My first business has been to enquire what mount has been collected from these assets, and hat has been the expense incurred by the State in uch collection. The Agent was called on to furnish a statement f his collections, and an account of his agency, in eply to this call he referred me to the four lists, umbered 1 to 4 inclusive, which he recently re- urned to the Central Bank, nnd to a statement ade by ihe Cashier of that Bank, on or about the rst day ofMarph last, which statement is number- dfive. These papers show what the agent re- urued, on & demand for the delivery of the assets a his charge, to the Central Bank. He stated to e that they constituted all the statement he has to ake,butat the same time expressed his willing, ness to answer all enquiries and to give any further uformation in his power. He informed me that the Central Bank had, Irom time to timo paid his sultry and expenses, including his salary ns cash ier of the Bank of Darien, and had settled with him in full for the same up to October last- With these documents to which 1 was so referred by Mr. Anderson, and with access to the books and papers of the Bank of Darien 1 proceeded to investigate Ihe transactions of that officer. The paper No. 5 shows on one hand the assets as theyweut into tha Agent’s hands, and on the other, what he delivered up to the Central Bank and to Mr. Blue, now agent for collectiog a portion of tlie remaining funds. I have carefully exam ined this document, and find that it is, in the main, • correct exhibition of what the agent granted re ceipts for,and of what he returned, but there are portions of it which require explanation and cor- rection. Such explanations nnd corrections will be found in what follows. As the President and Directors of the Central Bank did not require of the principal Bank a state ment showing the condition of ail its Branches, as 1 *ell as Ilia present institution, and a surrender by ., of aBbs assets—but themselves sought the col. Motion of theaasets at Dsrien, Dahlonega, Macon •ad Milledgeville separately, it followed that there •as no examination of the accounts of tho several Csshior*, nod that just as they turned over their Wads, so they were received by the Central Bank Wd placed in Mr. Anderson’s charge—I have ■sen obliged, therefore, to look into these vurioua accounts, and particularly, to examine Mr. Aiider- mo’ii transactions as Cashier of the Branch at Mil- ■dgeville, ,Jl'o Brunch ut Milledgeville was, up to April *888, in charge of Mr. Murray, at Cashier, and a •osrdof Directors, and afterwards and until the taller part o( the year 1880 the liutinest was con ■tacled by Mr. McGehee as Agent. In May, 1837, Portion of tho assets of this branch wus trails- Mrr»d to the Mucon Branch. In Docember, 1837, Mr. Anderson was elected Cashier, and in Junua- *y following, Directors for the Branch were ap. JJ"!* edi Mr. Andorton entered upon hie duties ^ a, hier. and Ids first ontries bear date on the 1st oxch, 1838. He began with a capital which he £c*ivod from Mr^-McGubeo, os follow* : riolr be^u b,,ok * of Br * nch o>'owod the fund to ^ r u ll A ,e u r ' “ nd 1 fi " d ‘hat Mr. Anderson was fiunished by Mr. Rees, Cnshier of the Principal Bunks.on the 2d Mny, 1842. with a statement to allow him the true condition of the fund which lie wus to manage. That statement disclosed these Tacts—viz: 1 lint the discounted paper of the Milledgeville Branch was $177,830 18 Composed of old notes in judgment P or Hst 803,922 47 Old notes put in suit by Agent, as per Mr. Rockwell’s report 8,354 20 Notes sued by Judge McDonald, per „ list 49,538 45 Notes 40 hand of Cashier hi Mr. con 20,085 77 Notes discounted by agent nnd put in hands of Cashier at Milledge. ville, 35.320 29 That there was a debt of Lucas, be ing a claim in favor of Jewett, of Alabuma, transferred to the Branch 10,000 00 That the real estate (B'king House) was 10,000 00 And that there was due for over draws 2,170 20 Mr. Rees wrote to Mr. Anderson, sending him the lists and report mentioned in the above state ment as follows : “My object is for you to unite this statement with yours last furnished me, so ns to make out a slate of the office including tho whole, and as these I now hand you are so par ticularly stated, there can be no difficulty in keep ing them always in view as separate from your new business. The item of Real Estate will bo reduced as soon as you can get Col. Parks’ note and papers arranged.” This statement and these lists were not dolivered by Mr. Anderson to the Central Bank either as Cashier or Agent, but were handed to me during this investigation. Mr. Anderson opened his Cash book and stale of Bank on the 1st of March, 1838—his deposite book on the 8th of March 1838—and a book containing such entries as are posted in a Bank general Ledger, on 1st October, 1838. He opened a Discount offering Book on tho 10th March 1838. He never kept a Ledger either personal or general or credit Ledger, or any other book besides those above mentioned, except a book of minutes of the proceedings of the Directors, a Letter book and a Receipt book. There is no entry in the Cash book after the 20th July 1830, and the state of the Bank is not carried beyond the 30lh Septem ber, 1839. The Discount offering book is not con tinued after October, 1830. Mr. Anderson turned hisaitenlibn tothecollec. tion of the assets indicated in Mr. Rees’s statement of 2d of May, 1842, which I shall hereafter call the "old assetsOn going through the books, item by item, I find that he received of these old as sets, various sums amounting to $27,013 02, which ho carried into his business, and added to his capi tal regularly. These collections were entered pri or to 20'.h July, 1839, when he ceased to make en tries. Ascertaining what he had in his hands, when he stopped keeping books, or about that time, I submit my views of Ihe stale of his accounts, re. marking at the same time, that it is impossible to arrive at accuracy where one is left to feel his way so much in the dark. On the last state of the Branch recorded by Mr. Anderson, I find that on the 30th September, 1830, he bad in possession, independently of the old as sets, Discounted notes $02,521 54 And Cash 33,520 73 As Agent, since April, 1842, it ap. pears that Mr. Anderson hns col lected the,, following sums, for Which he is accountable . 1842. Between the 25tli May, and 15thNov’r, Note of T. Fort, $739 S3 „ “ ” “ 2.012 50 Bill of Ex. “ 1,873 00 Interest on above debts 1,892 00 1843. Prior to August: Note of M. J. Kenan Interest on the 2 notes Sundry protest fees, 1843. Dec. Further on nccount of the Lucas debt, 500 00 000 00 525 00- 7,110 33 -1,625 00 53 0(1 4,800 00 13,594 33 $20,333 35 739 83 There must he allowed to Mr. An- dorson this amount, which has beon charged to him in Pnpor No. 6, in the Discount line of Branch Macon, viz : 1 note of T- Fort, Chargeable to Mr. Anderson $10,594 62 It must be borne in mind that the note of T. Fort for $2,012 50 was not charged to Mr. An dersen in tltu discount lino of Branch Macon, on paper No 6. I he bill of $1,873 was there charged to him, but was also credited to him as received in an Attorney’s receipt. Of this sumof$19,594 52, Mr. Anderson owes in specie funds: 1. Collection account, Lucas debt, 5.309 82 2- “ “ 4,800 00 Besides the residue of interest thereon Collection of Wright & Christian, 810,100 82 700 00 m $10,800 82 Tlie residue of the $19,594 52 is payable in Darien Bank bills. '1 ho Agent has produced to me vouchers for mo. ney paid as follows—which I think should be al. lowed, although they are not in every instance strictly authenticated : Tax F.xecution, paid to W. B. Johnson, $37 47 Check E. S. Rees favor O. Childs, 20 00 Fees of SherifFof Hancock, 74 25 Receipt for rent of Office, 62 50 -8190 22 $06,040 27 From tho replies of Mr. Anderson to various inquiries made of him, and from certain pencilled memoranda on the lists which have been referred to as showing the old assets, and from the admis. lions of Mr. Anderson and the books of the Macon branch and principal Bank, 1 find that after the 30ih September, 1839, and prior to the time when ho surrendered his assets as Cashier to the Central Bank, (April 1842,) he received die following sums: 1839, Nov. 0—Specie from E. S. Rees, Cashier, $2,000 00 1840, Feb. 13—Cash remitted by T. King, Cashier, on account of a debt of A. Iverson (old assets,) 930 33 “ For Note of W. J. Davis, “ 2,300 00 “ 4 years interest on the same 730 00 1841, Feb.—For a check from prin cipal bank 011 Central Bank, 2,348 75 1840, He received for Note of Wright & Christian,(old as sets) $200 00 For NoteofP. Wright, 500,00 700 00 1842, Feb. 23—In letter of this date, he received on account the Lucas debt (old assets) a check on New York, at six days’ sight, $4,094 25 Which he sold for 12 per ct. prein. 401 31 Iutereat calculated to 1st April,’44, 724 26 - 5,300 82 Making of receipts beyond tho busi ness included in his state of Bank of 30th Sept. 1839, $14,424 00 And he paid away in the some time : Specie to the Cen’l B’k, $2,000 00 Individual Deposiles 913 47—— 2,013 47 I have examined ail the books exhibited to me books of Ihe Milledgeviile Branch, kept by Mr. Anderson,and the returns rendered by him at dif ferent periods to the Central to Bank and the Executive department. It may be that other money has been collected, and that Mr. Anderson has paid money which he did not charge, but it will be recollected that his collections (except the Lucas debt nnd debt of Wright & Christian) were in Darien Bank Notes, a medium not available to pay debts. In going through tlie Deposite book, item by item, and Ihe Cash hook, to ascertain the state of deposite account, I find entries carried short from the former to the latter, and in one or two instances, over. The balance of such short and over entries is $1 ,678 46 short. Strictly, Mr. Anderson is chargeable with this, but I do not charge him be cause he seems to have settled with depositors, und musts therefore have made good the amount to those persons. If it shall appear that any deposi tor has a claim for deposiles, then the case will be changed. I remark that several of the debts have been changed in their character, and in names of par- ties since they were delivered' by the Bank of Darien and its Branches to the Central Bank. On the list of the Milledgeville Branch there were three Notes of John T. Lamar, amounting together to the sum of $10,000. These Notes have been de livered up, Mr. Anderson alleges, by order of the Directors of the Central Bank for notes of A. R. McLaughlin, secured by a mortgage on real estate in Macon; and on the Steamer Robert Collins.— The new notes are for $10,000 principal, and $3,142 33 interest, payablo respectively, 1st July, ’43, 1st January, ’44, and 1st July next, and were delivered, in place of the original notes. The mortgage seems not to have been recorded. The note of F. V. Delaunnny.in May 1840, was for 21,230. By receipts endorsed, it was re duced to $12,350, and was so returned by Mr. Anderson as Cashier, to the Central Bank, and by the latter again to Mr. Anderson, as Agent. Tho note was placed in the hands W. Y. Hansell, Esq. for collection. On 23d May, 1843, he col- lected $1,475 on account, which he duly paid to the Agent. The Cashier of tlie Central Bank, in re ceiving back the assets from the Agent, places the amount correctly at $10,055 thus correcting a small error in the list of Discounts of the Milledge. ville Branch. The note was for The indorsements were To which amount add the notes nnd cash ho had on 30lh September 1830 $11,411 43 06,040 27 When Mr. Anderson delivered over his assets as Cashier, he return ed his discount line nt the sum of $46,890 18 From which amount I deduct part thereof, viz: the Notes of S. Rockwell, because they belonged to the old assets, and were never carried into Mr. Anderson's business, or debited to him in uny manner, $107,460 70 9,757 50 00 $21,230 00 $1,640 2,400 4,760—8,800 So, although first returned by Mr, ) Anderson at 12,350, was in fact > ain .. fo,. i OU The credit of the amount collected by Mr. Hansell, was given, 1,475 00 ** runatng to mulur. hy ^ptal due and piotcsl tuiuii $10,000 00 25.320 29 605 00— 35,034 20 Real amount returned by Mr. Anderson 37,132 68 Being the rosiduo of his discount line which, on the 30th September, 1830, was 62,521 54 And hn delivered in Da rien Bank Notes 63 589 00-—100,721 08 It appears then that Mr. Anderson was deficient it* Cashier, the sum of When he surrendered the Branch assets to tbe Central Bank. $0,739 02 And the note, or receipt for it, was ta. ken back at $10,055 00 It seems that the Attorney, Mr. Hansell, pro secuted the note to judgement against the indorsor as well us tho maker ; and aflor judgment against the parlies. Dr. White the indorser, applied to the Director of the Central Bank to be released on his giving title to certain lands in Mississippi,and the Director ordered a release to be granted to him on his executing titles for (lie land, still holding the maker bound until the Central Bank should realize the debt: The minutes of tho Central Bank of 30thOctober, 1843, and I81I1 December, 1843, show tho action of the Director on this subject. On the discount line of tho Principal Bank was returned a debt of $14,545 76 due by the city of Darien. Mr. Anderson stales that the President and Directors of the Central Bank instructed him as agent to receive in lieu and settlement of this debt eighty-six lots in the City of Darien and $590 00. Accordingly tlie City Council of Dsrien made titles for the 86 lots and paid tho sum $500.— The chief inducement to this settlement appears to have been a release by the City Council of Darien of their right to tax these lots, and all the other real estate in Darien which the Bank held, for the term of 25 year*. Tlie deed is dated 4th February, 1843. I forbear to express any opinion as to the power or authority of the President, Directors, or Agent so to give up or change the character, of the dis. count line of the Bank of Darien. Many iodivid- nal creditors and corporations, as well os'the Slate are dteply interested in the matter, The amount paid by the Central Bank in the mat. ter of the egeucy of tbe Bank of Derien, up to this me, $10,397 08. The particulars of this ex. poitditure urmthown in the neenunt furnished me by-the Cashier of the Central Bank, and herewith aubihiitud. Among the items of this account is one for $4,625, paid Mr. Anderson for salary as Cashier* Mr. Anderson was elected Cashier, on the 30lh December, 1837, nt 1,600 per annum salary. The state of tho Bank kept by Mr. Anderson shows that on tlie 3d June, 1839, all Ihe nfficors, himself included, were paid to 1st June, 1839. On his state of bank of 30ih September, 1839, lie charged for salaries $730 65, which in cludes his own pny to the 1st October, 1839. if, then, his salary bo reckoned from 1st October, 1839 to 1st April, 1842 it would amount to $3,. 750. He paid his clerk for October,1830, tlie sum of $30 as his receipt book allows. Allowing him $3,780, ho lias been overpaid by ihe Central Bank $846—But lie may havo paid the President’s salary afier 1 Juno, 1830, for 7 months, nt the rale of $500 por annum, 1 find no receipt for such payment, nor is there evidence before me to justify my allowance of it. The item of $190 20, Octo. her 13,1842, for expenses on sale of Bank bui/d. ing in Macon, must be refunded by Mr. Anderson, because it has been allowed him in paper No. 5, where lie only accounted for the net proceeds, then deducting from tlie sale the same $196 20. ' iem of Real Estate, the Banking fiouse in Milledgeville, demands notice. This property •toed among the old assets, as ubove. at $10,000. The Principal Bank sold this building, as apponrs on their minutes, 3d October 1837, to Col. John G. Park, for $3000, and this is the mntter alluded to in Mr. Rees’ letter of 2d May, 1842, to Mr. An derson.—Mr. Rees hud previously written to Mr. Anderson, Feb. 15, 1838, as follows: “The Banking room you will occupy “free of rent until tlie 1st Mnrch. Your Board must then “make an agreement with Col. P. as to the rent, until we “cun obtain somemorosuitnbleplace.” I enquired of tlie Agent what disposition of this property had been made, as I saw no credit on account of it. He informed me that on settlement with Col. Park for rent that gentleman fell in debt for the building $383 40,-for which betook his note. On tlie list of Brand) pnpor was a note for that sum, dated 31 December, 1841. 1 culled for a statement of tlie settlement with Col. Park, nnd Mr. Anderson de livered to me three receipts for rent, as follows : 1st. For Home Rent, principal and interest, from 1st March, 1838, to 31 Dec., 1841—3 years and 10 months ft 1,29.0 OO 2. For Rooms occupid by Mr. An. derson as Cashier, dated 31st Dec. 1841 38I 60 3. For 2 months ront for Bank Office, in 1842, Dated 5th Feb., 18- 43 62 50 The purchase money was $3000. As the rent wna paid with interest, the purchase money drnws in terest, and the correct statement would bens fol lows : Dr. Purchase money $3,000 00 Interest 1 March ’38 to 31 Doc.,’41 920 00 $3,920 00 Cr. Tho 2 receipts for Rent up to 81 Dec. ’41 1,601 60 $2,318 40 It wilt be seen nbovo that I have already allowed tho third receipt $62 50, and Mr. Anderson has been allowed the note of $383 40 as part of his discount tine, although it was note discounted noto. He is juslly chargeable, then, in my view, as Cashier, for cash received of Col. Park, 31 De cember, 1841, on settlement for the properly— $2,318 40, or if the note be ullowed here, and the bulauco $1,035 cash bo charged, then the note must bo tukeu out of the discount lino which Mr. Anderson returned. The notes of Samuel Rockwell, amounting to $9,757 50 deducted by me from the discount line returned by Mr. Anderson, qs Agent to tlie Central Bank were, us I have shown, improperly placed among his discounted notes in April, 1842, when, as Cashier, he delivered up the Brunch Asselts.— As he granted a receipt us Agent for precisely what lie returned as CasAier,und as the item $35 587 08 on document or paper No. 5, includes the notes, no mischief is done by avoiding an alteration of that document. These notes belonged, it is true, to the Milledgeville Branch, but to the old assets, which did not enter into the new business of Mr. Anderson ns Cushier, except to the extent indicat ed hy mo on tlie 5th page of this report, and by a list, prepared from Mr: Anderson’s Cash Book and herewith submitted, I show that these nolos of Rockwell were never debited to him. If, as I be lieve, these notes were never in any way dehited to Mr. Anderson as Cashier, he hud no more riglii to return them as a portion of his discount line, not collected, than he would have had to return the whole of the old assets as part of his discount line. Again I have from Mr. Anderson’s discount offer ing book, traced out, within a small amount, the notes which composed Ids discount line of 30ih Sep. tember, 1339, shewingthus, plainly,that die Rock- well notes constituted no partofil. I am purlieu, lar in this explanation, because Mr. Anderson, to whom I have frankly, in the progress of this in vnsligation, given my views of his accounts, dunks he cannot be in debt to the extent which 1 find.— He furnishes no evidence that ho was ever clmrg. ed with the Rockwell notes, nor does he give any satisfactory explanation of his reason for inlroduc- ing’thein into ihe discount line, which, as Cashier, he returned 10 the Central Bank. It cannot es cape observation that, if the President and Direc- tors of the Central Bank, in April, 1842 when, they wore receiving the assets of the Branch Bank at Milledgeville, had asked the Cashier lor his hooks, or had even glanced ul them, tney would have dis covered that he made no entries in ids cash Book for eighteen months or more, prior to his surren. der of the assets in his charge—and they would further have seen that the real discount line and funds far exceeded what they were returned at. No notice, whatever,seems to have beeiflaken of tbe Old Assets by the Central Bank, and yet a large sum has been collected from them beyond what appears on the Books. Recapitulating, the amounts which I find clmrgo. able to Mr. Anderson are as follows—viz : Amount on 0ih page of tins report $19,504 52 Overplus of salary as Cashier 845 00 For purchase money of Bank at Milledgeville, 2,318 40 Expenses on sale of Bank in Ma. con, twice allowed, 10G 20 debt, in spueiofunds, $4000 2. For collection of M. J. Kenan, (Darien Notes 1625 For Protest foes, (Darien Ne««s) 63 3. O11 account of his 2d col. lection of die Lucas itebt, in specie funds, 1904 In Darien Bunk Notes wiih pledge to repluce it widi specie, on same acc’t. i«70 0,461 00 Leaving a balance still due by Mr, Ander- 8on $13,302 90 Subject to his claim for services and travelling, since October last, and postnges, $702 30. In the early stage of this investigation, nt my re. quest, tho Cashior of the Central Bank addressed the several attorneys who have papers in hand for collection, to render statements of tlie various sums by them collected und paid over to the Agent. I am informed that, with one exception, no replies have, boon received. Without such returns the preciec state of tho assets can never be determin ed,and they should be procured as soon as possi ble. r 1 be books of the Branch at /l/acon appear to to have been generally kept in a proper manner. 1 lie condition of it at the time of the surrender of the assets is fairly and plainly shown, except as to tlie debts composing $41,110 of the discount line, rhe Cashier, Mr. King,says in his return, he knows nothing of this amount, as it was in suit before he wont into office. He meant, evidently', thut he knew nothing of the solvency or insolvencv of the paper, because his account of notes in suit in his General Ledger, gives the particular notes com. posing the amount. Although no attorney’s re ceipts appear for the sum, it would seem thut hy propel examination, something could be learned concerning it. Tim examination would involve tho necessity of communication with tho several Attorneys who liaye transacted business for the Bank of Darien in thnt quarter, and u search of the Court records. I advert to it to call the attention of the Central Bank to an examination of the mat. ter, and to snvo, if possible, a portion of this large amount. At the time of delivering up his ussets, Mr. King returned under his hand that he retain- ed a package of $1040 in Darien Rn nk notn$ “for salary uue him by the I3uuk t to be given lip when tho sulurv is arranged for.” In his list of deposi. iles he mentions his name as depositor for $375 50, and snys in .1 note, “In addition to the $375 50 of P. King’s deposite, there is also due $G5 00 for salary accruing since tho last settlement was made up. Me seems to Imv 1 paid over in cash the sum 04 $454 61 more than his state of Bauk called lor. Al Duhlonega tho books have beon kept in ncare. less manner ; many important entries of figures being in poncil mark, and sevcrnl items have never been posted. The personul ledger has not been bulancod, and no list of depositors made out, al. though u considerable sum is mentioned on the 8iatc of the Bank as duo to depositors, ii ap pears thnt almost tho whole of tho monies on de posite are monies which have been actuully paid on notes in suit, und yet the payunents havo been placed to the credit ot Individuals in open account. I have examined the account of the debtors to tho Branch, in the personal Ledger, and in general find them not balanced, und, in some few instances, I fieri overdraft*, but, on tlie whole, I make Hie amount or monies on deposite applicable to tho payment of debts nearly equal to the deposite line on state of Bank. The per. sonal Ledger should bu balanced, to allow u fair understanding of this matter; but 1 think it pretty certain that there is no other money on deposite than is, in fuel,, tho property of tho Bank. The last state of Bank 2d April, 1842, calls for nolos under pro. tost and in sui', $28,407 16 A receipt is produced for one noto beyond tlie ubove, 730 30 Less allowed, as on pago 7, (Twenty two lliusand, seven bun. drod and sixty.three dollars and ninety cents.) During iny investigation, nnd very recently, Mr. Anderson lias paid irto the Central Bunk the following sums, as reported to me by the Cashier of that Bank : 1st. On account of his first collection of the Lucas $22,954 12 100 22 $22,703 00 $29,137 46 In the paper No. 5. this item is placed at $30,- 187 65:—ihe amount $29,137 46 seems to mo to be the correct one. I would remark thut At- tortiey’s receipts for nearly tho whole of this amount appear in one of the Books of this Branch, although in paper No. 5, it is said no rec eip is np. pear. Most of tho books of the Principal Bank seem to have been correctly kept, hut some important ones are very deficient, as will bo found when I come to spouk of the circulation of the Bank. Thu Regis, ter Notes issued has not been brought up, und I have looked in 4 vuin fora record there or elsewhere of any burning or cancelling of Branch Notes, al though 1 see thut tho lino of issues hy the returns of the Bank to the Legislature, havo been of late greatly reduced. The discrepancies between tho Principal Bank and the Branches in their mutual accounts uro very great, and of long continuance. I have not attempted to reconcile them, because it would he a work of very great labor and it would not uid me in ascertaining what I am in search of the debts due by the Bank, and its means of pay. menu Among the operations of the Principal Bank, it will be observed that the Institution has redeem- ed (purchased) its s ock to the amount of $231,. 855. This has been, for tho most part, effected by the receipt of their slock from debtors of the Bank in discharge of their obligations. On the policy of this measure I deem it necessary to make one remark. The effect of tho measure has been to release individual stockholders from the|respon. stbilitv imposed on them by the churter, of bearing their slmre in redeeming tho bills of the Bunk, nnd to leavn tho State the proprietor of $325,000 out of $410,195, the present capital. On tho State of Bank of tho Priucipul Bank is an item—Northern Conrads—$61,151 29. An explanation of this account will be found in tho fol. lowing remarks : The Board of Directors al Darien, on the 2lst May, 1839, Resolved, that the Cashier should pro ceed to Philadelphia or somo other Northern city, to negotiate a loan for $100,000 to resume the pay. ment uf specie, nnd that lie might pledge tho re deemed slock of the Bank or ns much of it us was nocessary. On the 4th June following, it was re solved, that to insure a loun the Cashier should lake with him $150,000 of the hills of the Bank, to pledge ns collateral security. On tho 10th Sep. tember, following, tho Board resolved to vend a power of Attorney to tho Cashier, then ut the North, to enable him to curry into effect the pre ceding resolutions. On tho 12th September, at an extra meeting, it was resolved that tlie President, and assistuut Cashier should execute a Bond to J. Dulufield, President, for tlie sum of $200,000, and issue certificates of deposite in favor or J. Delafield, President, to tho amount of $115,. 000, and place in his bands bills to the amount of $130,287—the certificates and bill* to bo held as collateral security for the payment of ihe Bond. On the 29th October, the minutes show that “tho Cashier having returned, reported the “result of his mission, but under existing sus- t«a« to ’’ibroughoot (M Motry,* . _ go tow the KriMgiisMt tor Mr. Re#*, while at tbe North, Mtond teto in agreement with J. Delafield* FnMwt of tW New York Banking Company, deled Ootobar tO, 1889, whereby the Bank of Darieo egread to drew Bills on London to the nmonnt ef XMflOO ttairiUg, which the New York Banking Compiuy wnieto purchase at $4 44 par pound etarling, end to p4y to at four months, Aa ooito- for in their own Notes 1 torsi security for the payment of these btlU,tto Bank of Darien agreed to farnieh N. MrrGoltoa. toe Agent of the New York Bonking Company at MU'- edgeville, with funde to purchase 7,000 belie ©# Cotton, which Cotton wae to be consigned te T.Dk- lu field, to bo by him sold, and the proceed* applied to pay the sterling Bill*. It wae-furthar agietot 1 that tho Bauk of Darien would, as addhleoai eeaer!- ty, pledge to Ihe New York Benking CbmMey $140,000 of the bills of the Bank of Darieo, $020,'. 000 of certificates of deposite, and deliver Ihe Bond of the Bank of Darien in the penal sum of $400,000. In case of default In the perlbrmeiM of any oi the urticles of the contract by the Benk of Darien, the New York Banking Company waa em powered to sell the Note* and certificate* of depoe- lie, and enforce tho Bond, until out of the whole tho sterling Bills should be paid, all costa, *11 liabilitlM of the Bauk of Darien in any way arising, and $60,. 000 penalty, which tho Bank of Darien-agreed should be ns “liquidated damages” over and above and exclusive of any special damage. Mr. °-tr drew and delivered tho sterling Bills, and deliver ed $139,287- in notes, and $115,000 in certifieetoa of deposit*, und executed thp Bond. Thb is tbe arrangement which the Board, on the 29th Octo. her, 1839, “determined not to go into for the pres- ent.” It appears that Mr. Rees alleged that there was a verbal understanding between J. Dolafield', President, &c. and himself, after the agreement was executed, thut in case the Southern Banka should not resume, and the Rank of Darien con- sequenlly not wish the northern fund, then it might decline the contract, and give notice accor dingly to the New York Banking Company, N6- tico was accordingly given in November following- of the Bunk of Darien’s declining. After the no tice, it seems that J: Delafield, President, denied' the understanding allodgcd by Mr. Rees and claimed the penally of $60,000. Under this con tract tlie Bank of Darien received not a dollar, and yet the New York Banking Compony claim* the penalty of $50,000, nod holds all the funds which Air. Rees deli vo red;. On the 24th Decembor following, the- Board of Du ectors at Darien resolved that the Oishior, Mr. Rees, should adopt the safest plan to have the mots ny nnd securities- left in the hand* of Mr. Delafield htoughi back to tho Bank.” Oh the 6th March, , 1840, after causing tho said -agreement oflOlh. October to beroad-over, the Board of Directors (by yeas 4>,mays^'resoived'Uiat the resolution of 0©. wfil. r r m m- ’1 'u" cl ' declincd the arrangement with J. Delafield. President, should be “nscotwidi. ered, and then further resolved, by tho same yeaa- nn. I- «ppo.„im, ugeui to proceed to New York to negotiate a loan of $299,990 “in suciv, manner ns ho might deem best;” and/ur/Aer, it was resolved thut an agent should proceed to New York m order to receive from J. Delafield, President of New 1 ork Banking Company, oortain assets, of the Bank which the Cashier deposited during the (then) , last summer, and incase the delivery of the assets should be refused, the agent should employcouoeal o compel,, surrenderor them by.proceseof law : and Mr. Roos was thereupon appointed that agent. that I.Vr 'l u'T*"* the B “«rd resolved, that tho Cashier should be and he was empowered , o compromise with J. Delafield, President, dsc.’’— tor the amount of computation that may be arran ged in behalf of his Hgeiil, Col. McGehee,” as con nected with the aforesaid agreement, Although rom the loregoing, it would seem llmt-the Board of Directors was anxious to get clear of Mr. Delafield . and tho New York Banking Compony, and tow gottute with some other person,yet by the minutes- >t Apiil 21, 1849, it appears as follows: “The vHshior reported the result of his mission to New n ;' ldc “ nelv contraot with the New ",i had entered into certain financial arrangements wnlitho New York Baukii-g.Company.and asaci nt, iitltec was appointed to “borrow for a term ofyaars. ie bills or notes payable on demand of soma-insli. I 10 " sed as “ currency," nnd as the com mittee hud succeeded in mnking“an arrangement with an institution for $390,900,” and as “the car. •viug into full execution both of the said agree, ments would require “muoh prudence and disere, non, Resolved, That the President and Cashier should ho u Committee to direct the execution of tlie agreements “ngrecabty to the chartor and by. laws of the Bank.” I see by tho minutesof the 28th - April, 1840, that the $300,090 arrangement was. made with the Georgia Lumber Company, and that against both proceedings a director, who was ab sent on tho 21st April, protested. In pasing, I re- mnrk.as portion of the history of the Benk, that tins arrangement for $309,000, made with the A- gont of the Georgia Lumber Company, who was also- a Director of tlie Bank of Darien,soon blew up, with, u loss to tho Bank 0/ $7000, unless Ihe Bond of Ilia Georgia Lumber Company for $7000, now among, 'lie assets of tho Bank-sJiull bo collected,of which hero is little hope. The agreement reported by Mr. Rees as tbs new contract with tho New York Banking Company., bears dale the 3d April, 1840. It is in character like thnt of 10th October, 1839. By it tbe New York Banking Company agreed to boy Sterling- Dills to the amount of JS4.5O0 at same rate, and to' pay for them $5000 in Notes of the New York. Banking Company, and $15,000--oa the maturity, nt drnfoi to ho drawn by me Bank of Darien on tho Now York Banking Company, at 60 days, with, waiver of acceptance. The Bank of Darien agreed to ship 1100 bales of Cotton at statsd periods, and- Mgrced to pay for any breaoh of the contract as liquidated damnges” $8,000. As seeuiity for per- formance, the Bank of Darien agreed to pledge,and 1 did pledge, all the securities pledged and deposited/ under the articles of agreement of 10th October, 1839—“ excepting und reserving thereout so much "as might be necessary to enable J. Delafield, --President, to realise all and every such sum or "sums as might be due from the Bank of Darien to> the said J. Delafield, President, under tho said’ "last mentioned articles. And finally the said J, Delafield agreed that this latter contract might bo extended until the oggregate amount of Sterling- bills should reach £40,090 aterling. It seems that so far from employing counsel to, obtain the funds placed with Mr. Delafield, Preal. dent, under the agreement of 10th October, 18$9; out of bis hands, Mr. Rocs left Ihe funds them, and entered inlon new contract with the sum* concern!, which demanded $50,000 penalty for the violation' of a contract under which it never advanced,a MDt, and from wiiicit it never sustained any injury ; endf in the new contract, adverted to monies that might bo due under the first agreement. On the 1st Sap- lumber, 1840, the Board resolved that the Cashier should write to the President of ihe New York Banking Company, “to know if it was considemti necessury for an ngent to visit Ndw York in order 10 extend the contract of 3d April, for $20,000 to $200,000. On the 6lh October, 1840, the ho*H icso.vcd that an agent be appointed, wish fell pow er and authority to proceed to New York end there dose the original contract made with Ihe eeme iis. Niitution, during the (ihenllast Summer, for$20$b* 000 ; and also sloes the last contract made with the same institution, in the month of April (then) last, for $20,000 previous to making any further ar rangement with them ;-«nd further i “that this Bread “appoints unageiii to proceed to New York to negoti- “ate in behalf of this Bauk, for the sum of $20$k- -'000, iu such manner as he mny deem beat forth* -imereti of the Bank, and to communicate suchmr-