tlement with the Cashier appears on that or any other book exhibited to us, to have been made with him. They also have evidence, that a verbal order was made by the Directors and communicated to the Cashier in the early part of the year 1839, to make out a full and complete statement of all the notes and other securities due to the Bank. This statement was made out under the date of May 21st, 1839, and laid before the Directors at the next regular meeting, and contains the only list of debts due the Bank laid before the Directors of this corporation. It appears from the testimony of the Directors, under oath, that this statement gave them the first information of the existence of large debts due the Bank to the amount of more than one hundred and thirty-one thousand dollars, and mostly from four liabil ities. One of the Directors stated that he knew the Cashier kept a Ledger account with him in which he was charged with money received from the Bank from time to time, for which he gave no note at the time, but did not know of the above liabilities of others until the exhibition of the above statement. The other Directors stated that this list of claims due the Bank gave them the first information of these large liabilities, or that the Cashier paid out money without taking the proper security. As soon as these transactions came to the knowledge of the Directors they took measures to secure as far as possible these debts by mortgages and otherwise, and ordered collections on other notes to be paid, and made an order to that effect, and it was entered on their books. It appears further on the Directors' book of May 8th, 1840, that certain enumerated securities to the amount of $50,374 09, were placed in the hands of General Joseph Low to indemnify him, Joshua Darling and Samuel Fletcher against a bond signed by them to the Suffolk Bank, Boston, for the redemption of Concord Bank bills to the amount of $30,000, and for the payment of a debt due to the Mechanicks Bank in Concord. And it further appears that Joshua Darling was authorized by the board of Directors to endorse over said notes and securities to said Joseph Low. It was voted further that no stockholder should be permitted to take out any money at present on his own note. The records of the Directors further shew, that at a special meeting holden at Hopkinton, May 12th, 1840, certain other securities to the amount of $52,752 62, all bearing interest, were assigned and delivered over to said Joseph Low, agent of said stockholders, to indemnify them for signing a bond to the Suffolk Bank for redeeming and receiving $50,000 of the bills of the Concord Bank. At a special meeting of the Directors on the 14th day of May, 1840, a preamble and resolution stating that a meeting of certain stockholders had been held and an examination into the securities had been made, and an attempt to obtain payment, which induced them to suppose that many of the securites which had been supposed available were doubtful, General Joseph Low was authorized to go to Boston, and make such arrangements as he, with Mr. Darling may deem proper. This negotiation with the Suffolk Bank resulted in their refusing further to receive the bills of Concord Bank from and after the16th day of May last. And on the 18th day of said May, the Concord Bank refused to redeem their own bills in specie at their own counter. At a meeting of the Directors, May 18th, 1840, voted to cancel the assignment of notes made on the 8th and 12th day of May, 1840, to General Joseph Low, and a schedule of notes, &c., amounting to the sum of $81,054 50, were assigned and delivered to Joseph Low, to indemnify certain stockholders who signed a bond to Suffolk Bank, May 12th, 1840, and as security for a bond to Mechanicks Bank, on the 23d day of May 1840; and also voted that the bills of this Bank now on hand be burned, and that no new bills be issued until ordered by the stockholders. It was also voted not to pay out any foreign bills on deposits. Copies of all the preceeding votes of the Directors, together with the first charter and by-laws, and its extension, accompany this report. It further appears by the testimony of the Cashier that there is generally an amount from four to six thousand dollars in what is termed exchange notes, they being given for Concord Bank bills put into the hands of agents without interest, to be exchanged r put into circulation for bills of other banks. It further appears that there is due to the Bank $8,503 50, discounted on the pledge of stock. The amount of bills of the Concord Bank signed for circulation, after deducting the amount destroyed by order of the Directors, and also the sum of $10,623 75 which have been estimated as lost or destroyed, as appears by the books of the Bank, amount 12 to $130,023, on the 21st day of May, 1840, Amount of the Concord bills in the Bank, May 23d, 1840. $130,023 21,700 $108,323 Amount bro't over, $108,323 Amount received up to May 26, 1840, $14,300 Bills in circulation, bills in Suffolk not included, 59,023 Notes, drafts, judgments and other securities, including good, bad and doubtful, with interest to June 2d, 1840, Current bills of other Banks, Uncurrent bills, estimated at the present discount, $195,901 25 1,928 687 Specie, June 2d, 1840, 683 61 Real estate, At a special Bank meeting of the Directors of the Concord Bank, Friday, May 8, 1840. Whereas, Joshua Darling, Samuel Fletcher and Joseph Low, made a bond or obligation in behalf of the President, Directors and Company of said Concord Bank, to the President, Directors and Company of the Suffolk Bank, Boston, to indemnify them for about twenty thousand dollars of our said Concord, N. H. bills, which they have redeemed out of the Boston market for and in our behalf, and further to indemnify the said Suffolk Bank for the further amount of ten thousand dollars, and not exceeding thirty thousand dollars in the aggregate. And whereas the President, Directors and Company of the Mechanicks Bank, in Concord, loaned to our said Concord Bank the sum of ten thousand dollars, in Now therefore voted to place in the hands of General Joseph Low aforesaid, the following securities and notes, as collateral security for to indemnify him, the said Joseph Low, for signing said bond to Suffolk Bank, and as security also to Joshua Darling and Samuel Fletcher, for and in behalf of their security for signing said bond with said Joseph Low to the Suffolk Bank aforesaid. [Then follows a list of securities amounting to the sum of $50,374 09.] And also to be holden by said Low as security for a loan of ten thousand dollars which the President, Directors and Company of the Mechanicks Bank lately made to the Concord Bank. Voted, That Joshua Darling endorse over said notes and securities to the said Joseph Low in behalf of the board of Direc tors. JOSHUA DARLING, Concord Bank, May 8, 1840. Directors. Concord Bank, May 8, 1840. Voted, That no stockholder shall be permitted to take out any money at present on his own note-and all stockholders who have money out on their own private notes, be requested to pay in such notes as soon as may be. At a special meeting of the Directors of Concord Bank, holden at Contoocookville, in Hopkinton, New Hampshire, May 12, 1840. Whereas, sundry stockholders in Concord Bank this 12th day of May, 1840, signed a bond to the President, Directors and Company of the Suffolk Bank, Massachusetts, to indemnify them for redeeming and receiving fifty thousand dollars of the bills of said Concord Bank out of the market in Boston. Now therefore, Voted, That the following securities to wit: [Then follows a schedule of securities amounting to the sum of $52,752 62.] All said notes are on interest. And also so many of the notes endorsed and transferred to Joseph Low, squire, by order of the Board, on the 8th day of May instant, as shall with the foregoing securities fully indemnify the signers of a bond of this date, amounting to sixty thousand dollars at least, be and hereby are made and assigned over and delivered to General Joseph Low, agent of said stockholders, as collateral security, to indemnify them for signing said bond to Suffolk Bank aforesaid. And the said Joseph Low is hereby authorized and empowered to receive and hold said securities for the purposes aforesaid. JOSHUA DARLING, Directors. At a special meeting of the stockholders of Concord Bank, holden at Fuller's Tavern, in Hopkinton, May 12th, 1840. Chose the Hon. Matthew Harvey, Chairman and Philip Brown Clerk. Voted, To appoint a committee of five, to be nominated by the Chair, who shall report to the stockholders what measures are best to be taken under the present embarrassed circumstances of the Bank. Chose Parker Noyes, Joseph Low, Worcester Webster, John Greenough and Philip Brown said committee, and they reported as follows, to wit. They recommend that a committee of three be now appointed to make full and thorough investigation of all |