Burst up of the Memphis Bank--The


way the People were SwindIed.
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BY reference the letter of our Cincinnati cores
pondent, it will be seen that the Farmers and Me-
chanics Bank of Memphis, Tennessee, has made a
smash of 1t, and that the Cincinnati bankers refuse its
notes at any price. From what we can learn, the
whole a regular built swinde, as bank
bursts up usually 1t seems an Injunction had
been served the present managers of the bank by
Mr.. Evan Rogers eastern stockholder restraining
them from any further control IT, und placing Its
assets in the hands of a recelver. The following ac
count [says the Ea gle is from the lips o. the Cashier


That several hours after the writ of Injunction had
been served on the President and Messrs. Looney,
Connell, and Moltbie, directors, they, with Mr..
Gaines, another director, held meeting IN bank and
discounted each others notes to an amount which
cleaned the vaults of its money, and enough of the
notes of the suspended bank to make the amount
$50 QUO!


That they also discounted the presidents DR..
Fowlkes notes to an amount sufficient TO take up the
bills drawn by the several drectors-for Fowlkes
benefit, we suppose-On Cross, Connell, q Co., thus
substituting his individual paper at twelve months,
partly from their responsibilities drawers, &c,
to very large amount, leaving Fowlkes standing
debtor on the books of the bank il is said, for near
four hundred thousand dolarS! This being done
they afterwards surrendered the keys of the stripped
vault aud bank TO the sheriff, and walked out If
this don't cap the climax of bold financieriDg, then
we give it up"


AS long as it is made the interest of bank officers
to burst up their banks, long will ii be done, and
lust SO often will the Memphis game. one similar
to il. be perpetrated The whole system is based
fraud and hence such frauds those narrated above
do not in the least surprise us.--O. Statesman.