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Updated: June 23, 2025
A plain business document: he took Dr. Knowles's share in the factory; the payments made with short intervals; John Herne was to be his indorser: it needed only the names to make it valid. Plain enough; no hint there of the tacit understanding that the purchase-money was a wedding dowry; even between Herne and himself it never was openly put into words.
Conway, and which both maker and indorser pronounced forgeries. Both notes were written on common white paper, and were purchased by the bank of a certain broker at a time when it was difficult to make loans by discount in the usual manner. Before the maturity of the notes, the broker, who was a Jew, had left for parts unknown.
Accordingly, Meiggs went back with me to our bank, wrote his note for twenty-five thousand dollars, and secured it by mortgage on real estate and city warrants, and substituted the three acceptances of the Hamburg firm for the overplus. I surrendered to him all his former notes, except one for which he was indorser.
On looking over our bills receivable, then about six hundred thousand dollars, I found Meiggs, as principal or indorser, owed us about eighty thousand dollars all, however, secured by city warrants; still, he kept bank accounts elsewhere, and was generally a borrower.
I found a responsible indorser before me, and it was my purpose to hold him liable, and to bring him to his just responsibility, without delay. But, Sir, this interrogatory of the honorable member was only introductory to another.
Accordingly, Meiggs went back with me to our bank, wrote his note for twenty-five thousand dollars, and secured it by mortgage on real estate and city warrants, and substituted the three acceptances of the Hamburg firm for the overplus. I surrendered to him all his former notes, except one for which he was indorser.
On looking over our bills receivable, then about six hundred thousand dollars, I found Meiggs, as principal or indorser, owed us about eighty thousand dollars all, however, secured by city warrants; still, he kept bank accounts elsewhere, and was generally a borrower.
I found a responsible indorser before me, and it was my purpose to hold him liable, and to bring him to his just responsibility, without delay. But, Sir, this interrogatory of the honorable member was only introductory to another.
His father, moreover, who had by this time accumulated a snug property by his own honest calling who knew little of the perils of the mercantile business, and still less of the skill and attention necessary for its successful prosecution, consented in an evil hour to become his indorser.
Mis' Molly's father had been at one time a man of some means. In an evil hour, with an overweening confidence in his fellow men, he indorsed a note for a white man who, in a moment of financial hardship, clapped his colored neighbor on the back and called him brother. Not poverty, but wealth, is the most potent leveler. In due time the indorser was called upon to meet the maturing obligation.
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