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 AorsTHg JOINT SELECT COMMITTEE OF THE GEN ERAL ASSEMBLY OF TIE STATE OF ARKANSAS,

 UPON THE PETITION OF AMBROSE H. SEWER

 Mn spraxrR.-,rhe joint whom referred the resolutions usr requiring rnyeslgaton of the charges against H. SEWER the last session of the e gsaiur, and also the petition Of said Seyier praying redress o grey shall be found that said charges have done m qsce have had that subject under consideration and would respectfully beg leave submit the following as the result oi hef

 The committee examining this snec ind aat the in 1896 chartered the Real Estate Bank of the State of Akan3a and for the purpose of enabling the Bank to te ePe on "h operations authorized the central board directors to re- eeNe bonds o lhe sae rom the eoYeo m a @ T, Te ,b @ na board appointed Y T. Williamson and H F. Wawoh as said upon said Wwohs refusal the board then appointed H. Seyer his place while the city of Washington without his knowledge; but being informed of his apponHen he official duties as Senator in Congress he T. T Williamson, proceeded the discharge of the trust thus imposed upon him.

 ndipenaby necessary in order effect an advantageous sale of the bonds to employ broker With this view they employed ". able integrity, sell the Secretary of the Treasury five hundred

 d tJ I bs m l;ll f ov ,a3e and ier f5nds npol banks For this service the commissioners agreed 10 pay Cocon per the invested And upon making said sale and investment Corcoan that the commissioners paid him. accord ing 900 per cent, and He farther tcable for the Bank the exhibit marked A. also B table the investment and that every of money thus obtained paid to the commissioners in the city of New York; the 18th day of September lS38 sever then immediately departed for the west with the of 2O 75d 2 and the memorandum of A ley for 2 000 of Reon l 000 and Dawson S050 leaving the with T. Y Williamson five thousand dollars, which paid CoreoHn the broker.

 Sever arrived at Louisville Ky and there turned to A H. took the receipt ot Davies for the same Se table marked D

 According the testimony of the Hon. Chester Ashley the aid of the bonds he and Mr. Bertrand contracted give MT Deafed per effect sale of the thousand bonds entrusted to them tervenion of broker wholly accidental a attme in New York for there then in the city large quantities of bonds State stocks for sale, and the advantageous sale made by Sev and Will Hanson, through their broker Cocomn to the Secretary of the Treas u raised the value and gave character the remainder of the of of le sell the thousand bonds for the Bank ed to their disposal and enabled te commissioners themselves ose the other thousand bonds for the Real Estate Bank entrusted em D. Beers President of the North American Trust and Banking Company The commissioners left this million of money New York subject to the order of the Real Estate Bank (See Newon testmony.)

 hundred bonds sold the Secretary Treasury appears from exhibit S2S0 was by Corcor- converted into souem and western funds or advance So And Thomas Iee citizen of New Orleans then the city New York under the direction of Williamson invested the further sum of l 9oo5 C. in southern and western funds which equal the sum of $lS677 75, ad of S7772 05. lSee the table marked @

 The majority the committees the resolutions of Mir Field, made report the last session of the Legislature (which report going proceeding of the commissioners and charged them with acting beyond the letter and spirit of their instructions In order under tons upon the convey in these charges it is neccs say and proper the instructions the Bank by which the February the 2o, s3s signed by A. II. Davies President the Bank, and directed Mess T. Y Williamson and A. IL seyier; informing them of their duties commissioners find the following Tn conuson will add that should the prospect of things look  f do despair but wait for time bring about favorable period Our home, you great and greater this time than shall feel again for and Is with ordinary hope and suspense that this whole community will await the result mission You, of course, will leave nothing done effect favorable issue Il necessary however that eye should closely watch the standing the and credit of the and unless sales be made favorable by the State Arkansas made with other young States great should be taken the for sale of bonds now such will credit, and interfere with the sale of our remaining five by taking mstainenH, dividing the profits the exchanges other metod which throws the transaction contingency protect Oflese things, however you must be the judges being on the spot must necessarily know better than ourselves and with every confidence in raby your prudence and discretion, left follow the dictates of your judgments and, all things may you, the and proper {See exhibit marked Would have been make the instructions broader, haze enabled the commissioners according their ug ments? And they had been unfortunate eup would those have been them they had acted in good fth But in this justification whatever for all teracs, we find them acting with ability and fidelity for the interest of the Bank They within the bounds of their instructions when they sold thousand D. Beers President of the North American Trust and Banking Company and left the in the city York subject the order Real Estate Bank They acted with in the bounds Of their nucon when they invested the proceeds of the hundred bonds southern and funds; the