Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-14

Answer-AbOut December, 1885,
Questionable You propose that the cashier should
furnish you with the necessary funds to carry you
through
Answer-I believe l did make some such PROPOSE
ton.
Questionable you make any and what enquiry Of
the cashier 10 the terms on which the Bank would
carry your firm through their approaching difficult
tes1
Answer-I did net.
Questionable you have any conversation with the
cashier at 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-
gagements!
Answer did. believe proposed to the cashier
of the Phenix Bank at that time to pay them $2UUOU
10 carry MS through You may constrae that as yon
please. think this was in December, 1886 LETT
Mr.. Delafela TO reflect the subject and called
again. The particular conversation cannot remem-
Der; but Mr.. Deafeld gave me to understand might
rest easy on The subject This was all that passed.
Queston-When you made the proposal to pay
$40 000 what did Mr. Delafied 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. dedaced this inference from what passed
Queston--When the cashier told you that you
might call again, did he not say and give yon to UNI
derstand that he would take your proposal so con-
sideration
Answer SO understood it.
Question-When you called the second time, and
give you to understand, that your proposal had been
accepted?
Answer-I so understood him.
Questlon-Did your firm act under that arrange
ment and deposit large amounts of paper in the Phe-
nix Bank accerdlngyl
Answer-We did.
Question-Did the Phenix Bank, in pursuance of
such arrangement, furnish your house with facilities
for a considerable time, to meet your engagements?
Ans wer-They furnished us facilities for that pur-
pose; but whether III pursuance of such arrangements
cannot tell We understood it SO how the bank
understood il, l cannot say.
Questionable the bank at any and what time stop
furnishing your firm with the requisite facilities 10
meet their engagements!
Answer-They did in March, 1897
Question-What reason did the Cashier of the bank
any other officer of it. give you for not fulfilling the
arrangement
Answer-I don't recollect they assigned any parti
cular reason. When they stopped furnishing funds,
went to them we could not get any. In the COM
mencement 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
collateras, and they were in the habit passing them
to our credit.
Qseston-When the bank ceased furnishing your
firm with funds did you call on the cashier, and urge
say on the subject?
Answer don't recollect called on the cashier on
that topic / called for funds, and in very urgent
manner. think stated TO Mr.. Delafeld we should
have to stop unless we could get FUNDS. l don't re-
collect his reply think he asked us if we had any
city paper. said no. This is all can recollect on
the subject at this time.
The Committee adjourned till tomorrow morning
at ten.