Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-12-21

on the 9Th Of Novsmbsr instant whom were rssrsa me
statement. and papers then ,aon:a .! the 81 -
report: That since their appointment, they have
tended to the performances 81 the dates asessu ~ a.
this, the officers and directors afforded every nc - n
committee, Who having had all the books Of tne os
open to their investigation (except the Ordinary az
counts Of individually without nsrsrence or semp, con-
troll are thus enabled to state result from personal esam
nation. The committee first examined Inc @
directors Submitted the 9th inst Item ~ -. eaad;oo Of
the affairs Of the bank The committee urher ,na
the statement Of the temporary causes maae oy inc
lie een6deuce IN the intution is just, fair and impara
With view test the question Of the soVency o. hs osn
the committee carefully examined i.s ns Relieve
loans they have the Satisfaction to state that thsy oese
them be safe and well secured as those OF amy
other bank. This remark applies a, ws 70 business ss
to accommodation paper, the only difference ~ u'e
two classes being that the payment OF the latter must
of necessity be postponed for logger psrod man tns
Of the former But in order to eeetuate as early qoa
tcn AZ no,sibe Of accommu daoa paper the Board OF
Directors have lately required reancuon OF Ten per e
every sixty days which will rapidly with oner
capital The committee confidently state this as result
special detailed in figures Of the private
oindviJuas would not be place here, and Is not
pected The committee made dligent inqury Sn 'o '1
position OF the Bank in relation to its branch IN the Scnuy
region their personal knowledge on the subject -
made in August last as well by the best Information
which the nature Of the permitted them to Obtain ey
decidedly Of opinion that sAhoug, large amour. u M
loans made there, may for time, be inac'ive YET
but little lo. to be anticipated rs all inc as.
o,a. are secured By bonds and sss ONE Of inquiry,
voluntarily submted 10 the examination OF 'nc ~"
mttee BY the officers and directors Of the sank wo p
luton in the following wordsesolved "tha the commtee
be invited examine the private accosn u
directors and officers Of this Bank in order 10
the amount borrowed by them from the 8snk-threw open
their private with the books; appears
that The whole of together only amount 70 about e
Of $50 000 most Of the loans being ON business M a.
pertaining each individual comparatively small ro" ~"
their business and the value Of their accounts
In conclusions the committee have net aier research, nsa
occasion TO find fault either wi the naaag ment OF me ON
directors doubt the saoy safety ana seeu.
rty Of the astution they recommend the course
ton on loans adopted BY the directors 10 Dc ~
position Of the Bank its restoration in the
the comm nity and its security TO the stochnoi.els M
which led to aud mi arprehension
hhe fully uly explained but better niorma
ho- has removed these sources OF mistake. !.
The mitee the result Of their sxaminateh anu ue
liberation nd the Bank and its management to the
conf dencc Of its stockhod. RS. . -.
All of which is submitted, together with the resolution
hersunto annexed, by
f..r ii S;s.sse, Committee.
JAS LIE EEvRE,
Facts which have since transpred Prove that the
suspicious entertained by the public, right and ys
have before the report Of certain men who preends'
to examined the aarsf the concernpronounsng
in sound and prosperous condsn This report was IN
tended ull the fears of the pubIic and by hoodwnks
them with the "hgh character and standing the men CON
posing the committee still further TO defaud it. The ban
bought press OF Philadelphia not slow in enc orsins thu
statement that the accumulated fraud too ncnsrou
be concealed they loud in their denuncation a.
the Schuykill Bank transaction the only blot 81
the faancal escucheon Of Philadelphia. What confidence
the public put in the statements Of who for
ward and sx their palpaty INTENDED
10 deceive and which the events Of few weeks only, STAMP
false II will be recollected that few weeks since, we
the transaction between the Bank Of Kentucky and the
u Bank. The former institution deposited specie in this
U. s. Bsnk in New York sil20O0 The U. s. Bank then
took money Philadelphia and gave the Bank Of Kenuc
Nv credit at agency here for $263 go draw against
The after stopped and the credit stopped
Soon the appearance Of this state meat the Philadelphia
papers came out with counter statement sayn. that the a
fair had been amcaby settled and the transaction between
the two institutions increaed II appears that the
agency OF TIVE Bank Of ntucky has been transferred from
the schuylk Bank the BANK OF the u States appears
no yet msds or the redemption of the
bills the bank that tbs notes Of that institution
will bs taken by the bank in Of debts Also that all
notes LEFT In the FOR collection will be returned 10 their
provided such 10 TO the bank
In the present revolution which going forward in the prices
every DESCRIPTION Of property corporation and state stocks
merchandise and the sagaaton Of business
rally real and the rents Of stores and dwelling houses
have yet undergone percepbe depreciation from The
inflated valuation they received in lss6ahoush since that
period IN. business OF the city, which affords the The
tenants Of paying rents has fallen Of in great degree To
understand this matter clearly, will take the follow.
ing table Of Of real personal estate in the city and
county Of New York, from the comptrollers report:
ComYARAlivE viEw VALUATIONS or REAL AND PERSONAL
EsrATE, SINCE ls05.