Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-17


him before to know him, He exposed tome the ex-
tent of the shoe manufactory Its vast importance
and usefulness In the employment OF great nom
Of hands,. In consequence of those exmotons ~
cae deeply Interested in his welfare, and after ms
the Bank made large discounts In the course Of the
development of his business, spoke % him ABOUT S
the rates of southern exchange ana observed 20 mn
that ne must necessarily lose muGn ~ ans a.
into view in the price Of the shoes or added to the
foot of the bill, or included in after settlements AT
ter this had conversation with the CASHIER on what
could be done with Grannss, and Mr Delafeld said
he Thought he could be relieved of his Georgia paper.
Questionable the back discount for Granniss q
Co. all that il prudenty could
Answer-Yes it strained point forthem.
Ouestion-Did you ever hear, or have reason to
supoose that any bonus or compensation had been
offered the bank or any ofcer thereof TOR any as
sstance afforded or to be afforded to c. b. Grannss
& Coz
Question-What measures had the Phenx Bank
taken in order to facilitate the collection ofcosntry pa
per in the southern and western states?
Answer-I would state that the attention of the
Phenix Bank 10 the subject of internal exchanges had
been particularly invited by formal letter from the
Board of Trade of New York. dated 7th March, 1884,
which was received soon after came into the office
of President, and which now present, as also my
answer. We extended our correspondence with all
parts of the Union, so that believe there was not
place of any consideration without our having cor
respondent there Our collections ost OF the city OF
New York for enc year was about 10 mhohs Oh
Ouestion-Did YOU net know that Mr.. Delafeld
as trustee or agent had large funds in the Phenix
Bank under his controi9 49,,
Answer-I knew that he had occasionally very
large sums by the deposit of which our bank was
greatly benefited.
Question-Was he not authorized to discount in
the intervals between the meetings OF the Board OF
d rectors
Answe-He was, for the accommodation of our Gus
toners who could wait. His authority was geseraL
Whatever he did from day to day, was sanctioned by
the board and this in my predecessor time as well as
my own.
Questen--Was it ever your knowledge made a
condition of discount by the Board Of Directors or the
cashier that the parties offering paper should take the
cheaue of foreign bank in payment
Answer-Never
Cross exanined.-Were you in actual attendance at
the bank from Sept 1885, to LIST August, 1887
Answer-I was not. 1 sailed for Europe goth Feb.
1887 and returned in. June Of the same year.
Questien-Has the Board Of Directors of the Phenix
Bank never discounted paper under the understanding
or expectation that the proceeds in whole in part
would be received in cheque or draft on distant
places? ;,
Answer-Frequenty. the application being made by
the party for such draft on certain place or places
in the south. . :
oaeston-Did you not make discounts under such
circumstances when you would not have made them in
the ordinary way, pay able in city funds?
Answer-When the application was made for south
ern cheque made it but not ioi city funds. as we
had them not
Oueston-After having given your cheque distant
banks for the proceeds Of discount wsuld your bank
have received those cheques IN ordinary payments at
part
Answer-I never heard of their being rendered but
Questionable not your bank often draw cheques for
such discounts upon distant institutions in which your
bank had funds the time Of drawing but under
the pecaon of placing them there, when required TO
meet your draftsf
Answer-Never, in any one instance, to the best Of
my knowledge and belief.
Questen-At what would your bank have taken
the cheque of another bank Of this city. in equal credit
with your own on distant bank, less rate than the
then current between this city and that place. for
instance, on Vcksburgb. Mississippi
Answer--I don't believe that our bank ever bought
any SUCH and cannot, therefore, say.
Questionable you ever buy your own cheques
Answer-Never, TO my knowledge and belief
Questionable yeu know, or have you reason to be-
leve that Mr. Deaed bought up such cheques for the
benefit Of any of the trust funds ne man.
sgedf
Adjourned to half past tomorrow (this) morning.
aOvr, DAMNED Spor"--Is the "Csurisr' never to
bedone withits bloody apologies Yesterday it fills
nearly Its entire blsod sheet with the special
plsadings of Wise in defence Of the murder fCiey,
because he would not say Mr. Webb was gentle
man.
Really, really Master Webb, the less you say or
publish on this subject the better you will find for
yoar peace both here and hereafter. Alter your fair
business transaction with the United States Bank,
you abored seven years convince the public of your
innocence. Did ysu succeed , Did not your very
efforts prove the contrary7 So it will be with the
murder of Cilley. Every effort you make TO wash
your hands Of that blood, will only redden it deeper
into your very soul Read the scene in Macbeth and
be STILL
CiacuLAR ALxArAc.-Averyi ingenious continuance
called Circular Almanac, has been presented us, BY
which we can find the day Of the month, week, &C.,
for any period up to 1900 or back TO 1850 II is the
best Almanac for counting rooms that we have ever
seen-nonc ought to be without one.
IMPORTANT IMPROVEMENT.
NAGIEs PATENT WATER PROOF COMPOSITION