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000 dollars in Bank of State of Missouri of the bills of this Bank, which have been redeemed by you, and belong to your
"cash account," subject to your order ? A. Yes.
Q. For what amount are the stockholders, directors and of. ficers indebted for loans made to them by the Bank ?
A. Stockholders 18,584 80.100 dollars ; Directors, 21.184 dollars; officers 5,159 81.100 dollars.
Q. Are the specie and other funds and assets, exhibited in your statement furnished the committee, and examined by them, bona fide the property of the Bank ? A. They are.
Q. Is 22,050 dollars the correct amount of Territorial vouch. ers, as exhibited in your cash account; and what is the charac. ter of the vouchers, and where are they?
A. It is the correct amount. They are vouchers for money paid by me, as fiscal agent for the Territory, to sundry persons, on account of appropriations made by the Legislature of the Territory; and have been forwarded to the United States Treasury Department for payment.
Q. Are any of the overdrafts in your individual accounts se. cured, and if so, what amount thereof ?
A. Have no security therefor except the personal liability of the
persons who have overdrawn. MOSES M. STRONG, being duly sworn, made the following statement :
Was one of the commissioners appointed by the Legislature to distribute the stock of the Mineral Point Bank. Something like two hundred shares were subscribed by various citizens, and the first instalment paid in specie. Mr. B. L. Webb then subscribed for 1000 to 1400 shares, in his own name and names of other persons, and did not pay any specie for them. He deposited with the commissioners 20,000 dollars or thereabsuts, in potes of the Bank of Michigan, and gave his personal obligation to the commissioners, that the amount should be forthcoming in specie at or before the period of payment of the second instalment. They were accepted by the commissioners in lieu of specie, in payment of his instalment, Mr. James D. Doty subsequently subscribed, in his own name and names of other persons, for about 2,000 shares of the stock; and in payment of first instalment thereon, he gave to the commissioners a certi. ficate of the cashier of the Bank of Wisconsin, that he (Doty) had deposited in that Bank 20,000 dollars in specie. He also gave to the commissioners his personal obligation, and his obli. gation as director of the Bank of Wisconsin, that the sum of 20,000 dollars in specie should be paid to the commissioners be. fore the second instalment should be called for ; which certifi. cate and obligation the commissioners accepted in payment of his first instalment. On the day the second instalments becama due the commissioners delivered over the books and papers in their hands,) before any portion of the second instalment had been paid to them) to the directors who were then elected by the stockholders. I paid to them the instalment upon 8 of my shares, in a draft payable in Boston. The instalments upon the remaining 8 shares allotted to me, were paid in the notes of the Bank of Wisconsin. I do not know in what man. ner the instalments were paid by the other stockholders. I was at Green Bay, the former residence of Henry T. String. ham, in May last, and learned at that time that said Stringham was not, and had not been for some months, a resident of this 'Territory. I have received loans at this bank at two different times, of a few hundred dollars, and they were not made by the direction or sanction of the Board of directors. I have fre. quently been in the Bank within the last two years, and the af. fairs and concerns of the bank appeared to be managed and con. ducted exclusively by Samuel B. Knapp and Porter Brace. About 24th April last, I called at the bank in company of the
sheriff of this county, who presented to Mr. Knapp a certified copy of an execution in my favor, against James D. Doty. Mr. Knapp was informed by the sheriff that he wished to levy that execution upon the stock of Mr. Doty. Mr. Knapp was requested by me, in presence of the sheriff, to expose
book's of the corporation to the officer to enable him to make the levy ; but he refused to show any books except that page of the stock ledger which showed my individual account as stock. holder, which part of the book showed that I was an original stockholder of 16 shares upon which all the instalments had been paid that had been called for. Mr. Knapp was then re. quested by me, in presence of the sheriff, to exhibit that part of the book containing the account of Mr. Doty, which he refused to do. Subsequently, on the 16th May, I purchased at sheriff's sale, all the right, title and interest of said Doty in the stock, property and effects of the Mineral Point bank, and on the same day I presented to Mr. Knapp a certificate of such purchase of which the annexed is a copy-with a request that he would record the same upon the book containing the transfers of the stock of said bank. Mr. Knapp took the certificate for the purpose of ascertaining the propriety of recording it. Afterwards, about the last of June, he returned it to me, saying, that he could not record it upon his transfer book ; but if I wished would put it upon his letter book, or let it remain in the bank, which I declined having him do. Mr. Knapp stated that Mr. Doty owned no stock of the bank. About the same time, I ask. ed Mr. Knapp if the directors had ever made any by-laws for the government of the institution. He said they had. I asked him to show them to me, which he refused to do. He stated to me at the same time, if I wished to see any particular by-law that he would furnish' me an abstract thereof. I replied I wish. ed to see the whole. On the 25th June I handed Mr. Knapp a note of which the following is a copy :
“ MINERAL POINT, June 25th, 1840. “ Samuel B. Knapp, Esq. acting as Cashier of the Bank of Min
er al Point :
“SIR-The 4th section of the act incorporating the Bank of Mineral Point, provides that seven directors shall be elected on the first Monday of July, annually, and that sixty days' notice shall be given of such election in a newspaper printed in the coun. ty of Iowa. I have not seen any such notice, and presume that none has been given.
“ The 14th section of the same act, provides for the calling of a general meeting of the stockholders, upon notice, specifying the object of the meeting, being given three weeks in a news. paper.
" You are therefore requested to take the necessary steps for having a meeting of the stockholders, for the purpose of electing seven directors of the Bank of Mineral Point, as soon as the same can be done pursuant to law.
Very respectfully; Yours, &c.
" MOSES M. STRONG." He declined taking steps to have a meeting of the stockhold. ers for the election of directors.
Interrogated by Mr. Knapp. Q. Did you make an expose of the law to me when you requested an exposition of the transfer book of the bank.
A. I pointed out to you that part of your duty contained in the revised statutes, but did not point out to you that part of your duty contained in the act of incorporation of the bank.
Q. What penalty was imposed upon the cashier by the statute for giving false information to the inquiries propounded.
A. My impression is, that the giving false information subjec. ted the cashier to the penalty of twice the amount of the debt; but a reference to the statute will show with more certainty.
Q. Did not the cashier, with a knowledge of the penalty fully before him, give the sheriff the certificate prescribed by the statute ?
A. The caashier did give the sheriff a certificate, but will not say that it was in the express terms prescribed by the statute.
Q. Were the facts stated in that certificate given on the oath of the cashier ?
A. He did not, to my knowledge or recollection, make any oath as to the truth of the facts contained in said certificate.
Q. Did any non-compliance with the request of the sheriff by the cashier, infract any clause of the charter of the bank ?
A. In my opinion, it was a violation the following provision, contained in the 17th section, viz:
“ And upon any execution being levied on any shares in said bank, it shall be the duty of the cashier of said bank to expose the proper book of the corporation to the officer, and to furnish him with a certificate under his hand and in his official capaci. "ty, stating the number of shares the debtor holds in said bank, and the amount of dividends due thereon."
Q. Did the sheriff request an exposition of our transfer book ?
A. Do not recollect that any request was made except as is above stated. Q. What sum of money did you pay to form the basis of
your claim to ninety thousand dollars of the stock of the Bank of Mineral Point ?
A. If allusion is made to my purchase at sheriff's sale, I an. swer, six dollars.
Whereas, on the 25th day of April, 1840, I received for col. lection a writ of fieri facias, to me directed, issued on a judg. ment in favor of Moses M. Strong, against James D. Doty, rendered at the April term, 1840, of the district court for the county