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project at first, but Sargent and Cook seemed be vor told them should do anythow and hoped, when they thought the that we could arrange with them make our scrip bankable. An Agreement. the strictures the Democompelled them to withdraw their circulation faster than convenient. When issued Burrows money, underthat would redeem Florence, always bankCook Sargent's and they more business all the other banks put together. wanted to $100 Davenport, on the river railcircuit one hundred Burwould his he use east, would answer.
Swapping Money.
We would continue to pay Florence, giving the farmers preferred, and would let Cook Sargent all eastern exchange made could not run their bank In return, agreed protect Prettyman's circulation, treating the same they did their In short We began man would bring $100 out engraved checks. wanted saying They just could use abroad. Bank Cook would tell had nothing Sargent them the same but Florence, which bankable was Florence. The railroad them We Cook Sargent's. would the and had count him out $100 in Florno trouble circulate them. We which Cook would take calculated the profit the Sargent's and get culation thousand dollars change Burrows Prettyyear, which was for the benefit man was the firm of Burrows Pretty- just where had been minman. before. This was called, In the latter part of 1858. days, We this could the house Macklot Corbin, of Davenport, retiring made on Cook we could, Sargent's but the necessity upon bank, account their wildcat times. Crops and 1859 money. Davenport Democrat almost failure. Farmers made almost daily attacks could not Burrows Prettytheir circulation. The pay. the first day became dissatisfied, and said this state outstanding things an their books and and not that kept out eastern believe they ever collected money made exchange that amount. morning when visited the Corbin and the Demobank, Cook called crat, for Cook the parlor, and that they they are getting our Florence would compelled to withdraw fast We have about their Florence money. To enable and must get them to do they procured hampers How think would drafts, or bills withexchange work received money out consideration) Antoine special deposit Claire, George Davenport, would ruin Davenport Rogers of Claire That would be Burrows that scrip was longer tiable at Any change from banking present things circles the East for of The best
Branch Boston.
George Sargent went east and branch firm Boston for the purpose negotiating paper attending to other raising money such fictitious paper. the money was realized these curities, was used for redeemFlorence. Had been this they not retired their and their failure would have been minent In looking my papers for find receipts from Cook Sargent six bills exchange drawn Burrows Burrows and accepted them, payable the Bank of North America and the Bank Massachusetts at days. exchange for $40,000. They acknowledged, in the receipts, paper for the benof Cook Sargent, and protected by them when assistance borrowed Cook Sargent of funds redeem their culation but Macklot Corbin's course refusing recognize the currency, together thing retire possible. He called said, Burrows that says change ruin
Credit Farmers.
John Cook replied. His the hurt him we will all can to help We will plain to our believe good that take your currency for indebtedness to told the Messrs. Cook that were not standing their hampering them, could not have thousands of dollars the eastern exchange have you You from cent premium, and acted me promise that not for favors you agreed treat our circulation the same as your again, you have paper, which retire them they were and made about three o'clock, and they helped keep the wheels commerce moving. month passes, some one speaks about checks and how they helped to enter our checks as special the Burrows Prettyman scrip deposits. Two three merchants business. checks issued favorable me, came the store time when business just after the bank closed. showed the city and the situation of the their books, and asked county needed them. and they explanation. told them what had and they very manner which Cook Sargent had treated us. That there was deal excitement, especial- We never had more than in the lower and 000 while think Cook knew there would big run Sargent of morning went home know of their burning could neither eat nor Florence time sleep. Long before daylight least said they drank two coffee Cook and went town see Ebenezer deposit Cook. jured our paper the east He lived that time the reacted They usually corner of and had hour before and man's Burrows' day. pounded door. He and drafts acceptances (accomhis head out window to put modation paper which they who told him keep themselves see him, came down George Sargent and let me had long was not think regretted the of easy dispose which step they had but he said the bank placed critical con late He did not dition. think would injure us as much About this time, Ebenezer Cook to me and they
Demand for Cash.
Realizing that nothing could be done, went down the mill and stayed there nine o'clock, went over face the music. found at least 100 the They had their hands fully of currency. said, come many time. there were but might something for you Your checks are just they ago Anything this store the can for as cheaply you paid gold. "There are in back yard one thousand barrels Kanawha salt. received only few You all you want the lowest cash price, the cheapest town; and take the and until the last Cook bank, they will them from Some one spoke up. and about half them went and the rest to trade. regards Burrows am glad an opportunity to that to redeem the last and paid than the One the John Cook picked and said "Burrows, here age your $100. We received from Pittsburgh bank morning. don't know how there: probably some traveler. They told us the best we could with and Give me $50 and can you have Mr. will not that and got near through down took the package the bank Burning Paper Money. there anything upon in my business career, much need money. had been Antoine Le Claire indorse my note $20,000. Le Claire had promised to do give him mortgage my beautiful home, "Clifton." cannot do that, Mr. Cook," The next Ebenezer Cook had about the with the same result He called the third again day urgent. said they did get immediate would suspend. They had received from telegram Sargent saying on my and forthwith he take care of you the worst comes the worst." Worst Does Come. The worst did come the and he did He never raised the note, Le Claire the and estate took my place. never would have known Cook Sargent would carry Burrows Pretty with We. with others. their for paper enough to break On the December the first place visited after coming into the mill, where spent about an hour been done during night, and counting the amount of flour on hand see much money would need the day's business. quarter past nine o'clock, the over the store draw my drafts preparatory to my visit the the of Front Street our clerks to see Burrows,' he "Cook Sargent are not this opening morning not take in the situation said: "What the matter? dead he replied, "they busted believe He pretty to the to get my and then went bank. Street and Street folk. looked there should think there than 1,000 excited many whom were admittance the bank. policemen guarding front door. policeman told him wanted he that should would be right. Ruin For All.
The policeman stepped entered. bank, except the Each his place, all looking and never really alarmed first chair Cook was walking the floor, and swinging his tearing his hair the Every he such that thought he had He crossed the ten or twelve times, neither At last said, He stopped in front am ruined! ruined! We are all ruined gether!" As there was nothing done, went back and found sheriff. We had indorsed the holder an attachment creditors made There much excitement that not think package county orders left Cook Sargent's day before the the world, except our Bank bill had not drawn our usual money for the day's business The next day Prettyman going paying We large number millmen, and clerks the money replied. have $800 county orders bank, over cashed.' the bank the bank parlor, county orders looked the place thoroughly, satisfied that orders out when John
The Last
"What are you looking looking for orders here said, know you answered, hesitating where demanded. County Treasurer, the down and ours replied. not belong debts. property your suppose had was making noise and fuss that quiet The failure of Cook that great time, prise unexpected them opinion that they had the day but ing business had not having done, hundred dollars hand closed three that there was something somewhere If Cook Sargent failed, Burrows through would have safely gone crisis. financial much better than Our was nearly the way. wealthy Norfolk, Va., had lent assist retiring would have done been necessary. pened, business the hands of my Prettyman accepted agent Northern Company, mill the my
