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THE MEACHAM BANK AFFAIRS. Subsequent Dividends and Bright Prospects for Creditors. The Alert is in receipt of a communication from Thos. Doughty of Carring. ton, concerning the affairs of the suspended bank at that place, Mr. Doughty desiring "to reply, and if possible correct some false statements made by some unscrupulous person in The Jamestown Alert, concerning Mr. Meacham and the failure of the Carrington bank." The Alert's informant stated that the bank owed Foster county and school interests between $12,000 and $14,000, round numbers, and the statement was made that from present indications the loss would be between those amounts. Mr. Doughty states that "the total amount of the county and school deposits amounts to only a little over $11,000," and adds what is not generally known, "that on November 1st a dividend of 25 per cent was declared, which reduced this account to $8,900." The further information IS also given that under Receiver Soliday's management enough has been collected to pay another dividend of about 15 per cent, making a 40 per cent dividend, "which, considering the short crop and low prices, 18 certainly a good showing." Mr. Doughty continues: "The total assets of the Carrington bank amounted to $18,698, and the total liabilities amount to $16,050. leaving a balance of $2,648 over and above all liabilities. Figuring on what has been collected as a basis and a credit of $2,648. I cannot see but what the loss will be very small, if any." It will be seen that The Alert's inform ant was not so far ont of the way in the first loss stated, but the matter of the first dividend was not mentioned, as it should have been, if known. As to the future dividend, which IS to be made, that also was not referred to. or known to The Alert. The report that Treasurer Putnam had to part with a farm turned over to him individually, by Mr. Meacham, for the county,was incorrect, although there was nothing in the statement that reflected on the treasurer, or suggested any intent on his part to cause the county loss. As to this, Mr. Putnam says he still holds the farms subject to the will of the county and will hold them until released by the acceptance of the security, or by the payment of his debt in full. Mr. Putnam is turning in his salary, lumber accounts against the county and with grain raised this year on the farms, and the divided to be secured, sebort $4,300, which he says he expects to make up in full. and perhaps bave the real estate left. This 18 certainly a flattering show. ing, both for the county and the receiver. The treasurer saye he is satisfied that the closing of the Carrington bank was "a failure, and that Mr. Meacham turned over everything he had." Receiver Soliday corroborates the above statements and adds that "with a fairly good crop next season the bank of Carrington will pay at least 75 per cent of its indebtedness. Should it do so, and the county take the lands and proceeds of the same, it would be ahead e hundreds of dollars." Foster county and the depositors of the bank are to be congratulated on the prospect of getting out of the failure in such excellent shape, and The Alert is pleased to make facts known to the public. Friends of Mr. Meacham claim that the failure of the bank was due, not to any intent to defraud creditors, but to careless banking, and lack of business foresight, and they assert that his subsequent surrending of all property proves his honorable intentions in an unfortnnate business collapse. From communications seen by The Alert from prominent citizens of Foster'county, taken with statements of leading citizens here, who who have been acquainted with him. leads to the belief that Mr. Meacham still retains the confidence and esteem of those who best know him.
