Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-15
in selling the cAeque and propose to sell il TO the

in selling the cheque and propose TO sell II TO the
bank
| Answer-I can't say did; think did not
| Queston-Did you, with any chcque that you had
received from the Phsnix Bank for discounted paper
call on the Cashier of the bank or any other and
what officer and have any and what conversation
with such officer, relative 10 the sale of such cheque
! to said bank, or any other persona
| Answer believe | did once call on Mr. Della
| field with cheque but when, cannot reeolecl-
/ But received nothing.
Question-What transpired on that occasion!
| Answer may have asked Mr.. Delafeld what
could do with cheque, and whether ne would taKe
IT, He said he could not take it.
| Qucstion-Did he not say it would be too broad a
| transaction
| Answer-I do net remember any remark ailuding
| to the broadness or narrowness OF the TRANSACTION
Queston-State the transaction that yosr flrm had
with the Phenx Bank on which you paid the highest
rates Of exchange and the greatest amount OF dis
count and sustained the greatest amount OF loss on
the draft received
Answer-I will state the highest which have on
nay memorandum may or may not be the highest
on our books. 1t was five per cent on MISSISSIPPI
and Alabama The greatest amount of loss on the
drafts was and per cent. may have lost on
some of the drafts A per cent.
Questionable you your firm at any time lay a
statement of your affairs before the cashier OF the
Phi nix Bank ?
Answer-We did.
Queston-At what time :?
Answer-About December, 1885,
Questionable you propose that the cashier should
furnish you with the necessary funds to carry you
through?
Answer-I believe did make some such PROPOSE
ton.
Questionable you make any and what enquiry of
the cashier, 10 the terms which the Bank would
carry yosr firm through their approaching difficult
tiesf
Answer-I did not.
Questionable you have any conversation with the
cashier at or about that time in regard to the terms
or compensation for which the cashier or the bank
would furnish you with the means to meet your en-
Answer did. believe proposed to the cashier
of the Phenix Bank at that time to pay them $50 600
TO carry through You may construe that as You
please. l think this was in December, 1886. left
Mr.. Delateld to reflect on the subject, and called
again. The particular conversation cannot remem-
Der; but MIR. Delaheld gave me to understand might
rest easy on the subject This was all thatpasssd.
Question-When you made the proposal to pay
5000, what did Mr. Delafeld say in answer before
you left him to reflect on the subject?
Answer-He gave me to understand, think, that
he would take il into consideration, and might call
again. IdedHced this inference from what passed.
Question-When the cashier told you that you
might call again, did he not say and give yOn to I'M
derstand that he would take your proposal into con-
sideraton
Answer so understood it.
Quesion--When you called the second time, and
received your answer did not the cashier say or
give you to understand, that your proposal had been
accepted?
Answer-I so understood him.
Question Did your firm act under that arrange
ment and deposit large amounts of paper in the Phe-
nix Bank accordingly?
Answer-Wedi did.
Questionable the Phenx Bank, in pursuance of
such arrangement, furnish your house with facilities
for considerable time, to meet your engagements?
Answer--They furnished US facilities for that pur-
pose; but whether pursuance of such arrangements
cannot tell. We understood it SO how the bank
~al
Questionable the bank at any and what time stop
furnishing your firm with the requisite facilities to
meet their engagements?
Answer-They did in March, 1897.
Question-What reason did the Cashier of the bank
or any other officer of it, give you for not fulfilling the
arrangement
Answer-I don't recollect they assigned any parti-
cuar reason. When they stopped furnishing funds,
went to them we could not get any. In the COM
menccment of the arrangement, and from time to
time subsequently,, we had been in the habit of depo
sitting country paper in the bank for collection and
coaterals, and they were in the habit Of passing them
TO our credit.
Qsestion-When the bank ceased furnishing your
firm with funds did you call on the cashier, and urge
him to fulfil the arrangement; or what did you or he
say on the sabjectl
Answer don't recollect called on the cashier on
that topic. called for funds, and in very urgent
manner. think l stated 10 Mr.. Delafeld we should
have to stop unless could get funds. don't re-
collect his reply think he asked us if we had any
city paper. i said no. This is all can rccoect on
the subject at this time.
The Committee adjourned till tomorrow morning
at ten.
THIRD DAY.
"WEDNESDAY, 18th March, 1888.
The Committee met at ten o'clock
The examination Of Mr.. G. b. Granniss was re-
sumed.
Cross Examined, by Mr.. J. Prescott Hall-Were not
the proceeds against which your house were in the
habit of drawing their cheques the proceeds Of dis