Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-06
The Investigation Of the Manhattan Bank.

Inc PupHc is waiting win intense anxiety f0
che results Of the labers of the Investigating Com
p,ittee, now sitting the Manhattan Bank. Fol
ten years past this institution in conjunction with
che Bank of America, has taken the lead in the
management Of fnanc ial affairs in this community
and was the prime adviser of General Jackson when
he periodically undertook TO furnish this unhappy
land with his better currency" The public,
therefore, have right full disclosure of the
cret history of the Manhattan-not only the
Of its being public institution, empowered
with the control Of the currency, but also a
poration in whose stock the sacred property of the
widow and the orphan has been placed.
On this latter point word of history. few
years ago, lady of Maryland, with her two sisters,
the eldest possessed Of property equal to fl50oO0
sterling, or $75OOOO in our currency, went to re-
side in England. The three sisters were connected
with some Of the beautiful women of Mary land W he
became allied in marriage to the English nobility.
This introduced the three sisters to noble acquant
ance in foreign land. When the eldest sister died
in England, she bequeathed her property to the
second, and any she might marry, for lifeafter
their deaths to the surviving sister, her offs pripg
The second sister married Mr.. Thompson, who
now survives his wife, and resides at Brighton, in
England He is old, and will soon be in heaven or
elsewhere. The third sister married Major De-
launy, of the British army, and had issue, boy and
girl, now at school in Alexandria, District Of CO.
lumbia, in this country These two children
motherless and fathsrless, for both parents are
dead-and after the death of Mr.. Thompson, their
uncle, who has only life estate in the property,
they the rightful inheritors of the original pro-
perty the eldest Maryland lady.
But this is not all. Several years ago this proper
ty Of ESQ 900 sterling, was invested in the British
Rv n influ wa nj ed lie
the guardianship OF the Marquis of Caermarthan,
now Duke Of Leeds in England, who sold it out Of
the British Funds, TO be invested in the Manhattan
Bank at high prices. 1t has stood in this Bank for
several years. James G.. King possesses the prox-
les for 5000 sharss-Robert White for 5000 shares,
and another person in Baltimore for the remaining
5000 shares. For several years past these proxies
have been used to put in Directors the same set
Of men, so as to preserve the control Of the bank in
the same eliqaes
twill be seen, therefore, that the property Of the
two orphan children, Dcaunys, now living at Alex
andria is the source OF that power and influence,
which, under a - malign influence" has produced
the explosion in the bask-the loss OF nearly half its
capitalize mis- nagement Of the Cashier and Di-
reetors, and the viainy Of its abscondng Teller,
besides all the rzsealties that yet hidden in the
dark reeesses Of the Institution. In few short
months, the property Of the orphans has been de-
stroyed to the OF half, by clique ofspec
ul.tors and avarcious men, with prospect OF being
eu,irey swallowed up by the further disclosures Of
the Investigating Committee.
Thus stands the management Of this bank before
Nev-Ysrk and the world. Is it surprising, there
fore that there should be an intense anxiety the
public mind to know the movements Of the Inycsti-
eatias Committee I In order to hasten the move
r.. "a Of Ia. ~ -,
Chairman, the man If inactiop, Mr.. James Boorman
and Recorder Morris, the OF straw, with Mr..
J. W. Eimonds, Secretary, a man Of secrets, We
shall propose to them the following simple inter
rogatories, by way OF pointing out the order and
matter OF investigation -
L. Has NOT James c. King deep interest in conc cal
ing the real condition OF the Manhattan Bank, an
consequence Of his connection, directly Indirect
iy with certain real estate other specuations tor
which money was borrow ed Of the bankl
z. L. not VIM. Beach Lawrence concerned in sew
er land spec alations, at the prices Of $50, eompre-
hending lots and places situated between Harlem
and Kingsbridgel Has not the King family, or some
Of them, some connection with this speculation or
are they exclusively engaged IN real estate speeula
tons on the line Of the Erie Rail Rosdl
g Was not the late Samuel Ward, partner of the
house Of Prime, " ard & King or some Of his fsmi-
w. also concerned IN the land speculations 81 the
Lawrsnces, and was not part o. the capital Of this
bank engaged IN these speculationsl and, IN conse-
the fortune left BY Mr.. =. Ward dwindle down Co
$4,000 go 900, Alter paying all has engagements
Did not the inAaence OF James c. King and
Samuel Ruggies, upon Governor Seward, procure
for the Manhattan Bank last August dcposites ~qua
20 500. 900 out Of the country banks, whereby the
eourtry banks were reduced to state Of quasi sss
pcnson. and thereby causing the merchants OF New
Nok lose s30.DJ) N the general sprec alto, IN
s. fcty Furd piper And was not this =" sseon 4 re.
moral r ths Rsposiiss" produced by the King and
Ruggles influence to enable the Manhattan Bank Il
loan mnaey to sustain real estate specsstions neat
KinEsbdIse. or on the Erie Riilroa1 route1
3. Have not Jam @. King the house of Prime
Co, the bawrences, the Costars, the Whites,
Bi,ck drts m Wits.
Bio. Ssirts and grey"
been, two or more Of them, IN a secret league for
several years past endesvoring II destroy the rppn
tation and credit or the United States Bank, while
they were borrowing the property r the orphan,
invested IN the VI tnhlitsn Baak, sai some ~ them
spocuatng upon IL, till the pre- ent revul.ion ha.
brought them mp al standing, and thus led 10 the
expo,ures Of the Manhattan, which show sc .n- O
mararern mt that 10 disgrace Co any institution-
q Can James G. King, under these circum
stances, give the public AID the orphan stocAbol !
ers a7y full Investigation or tie assets and affairs
ths Ma7hatia, Bank ard will rot James Brorrna
say 20 N, as he has said q him N certain affairs =
chef ie X ulrpai peeuia ien-"diito to Mr. Burke7
or can any thing be expected Of " order Morrl
who !. not far in these complicated, shufni IN;
bank transactions
This much today When tbs inv,,tis,,ing con
rnittee have acted upon th1ss hints, we havs aba
dance in store for their f,,nre action. For nan
wear. past, the msn,g spent Of the Ma,hattsn Bau