Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-12


| Wall street during the last few days. The excite
in that of fashion is of the highest
kind. Not since the splendid developments con-
corning Swartwout and Price, has there been so
much genuine good humor, wit, and drollery, as we
| have had during the present week. The Manhattan
Bank, its Cashier, Robt. White, and its elegant
watch dog, brass collar and ALL have been the cause
/ Of this fresh sensation in the financial world. The
glory has all departed from Israel-nor can Phi
ladelphia surpass New York in talents and orgnali
ty in finance.
| Yesterday morning. the sun rose in uncouded ma
jesty and coming up from the eastern end of Long
Island, tipped all the eafess trees-not the vaults
| of banks-from Babylon TO Brooklyn, with gold.
broad sheet of this light fell into Wall street, and
poured down into Manhattan Bank such an efiul-
gence that nobody could mistake the trouble and per-
plexity of its worthy Cashier, and principal bottle
holder Out Of about 81 100000 in various kinds Of
assets consisting of notes of Campbell p White, the
Rev. Barnabas Bates, Moses Allen, and various
other persons, it is supposed that the Manhattan
Bank will lose, in depreciation on stocks and in other
ways, about $500, 900 S5O0,0oo
The way in which this state of things disco
vered, is unique.
1t seems that Jonathan Thompson, old fashioned
man. entirely ignorant of modern finance, one of
the Directors. Mr.. Il. was the Collector of New
York for many years, but was entirely Ignorant OF
the Sub Treasury ways. When Mr.. Adams was
elected President, a committee went on from this CT
ty asking Mr.. Adams to remove Jonathan. s. Why!'
asked MIR. Adams. 90 He has opposed your election,
and is a disciple of Tammany'' No NATTER" said
John Quincy ,wiping the widows tear from his eye
no matter-if l find his accounts straight, I'll
retain him. I'll see my Secretary of the Treasury,
and let you know tomorrow" The committee went
back to Browns eat and drank, and carved out the
Custom House for themselves at once. Next day
they returned to the White House, and, said Mr.
Adams, 81 have had a conversation with my Secre-
tary, and he tells that, in July last, Jonathan
Thompson was a defaulter TO the government for
=" ''Dd not tell you so p said of the commit
tee, $50 did l. said another every one Of them ex-
pecting a removal. "Let go on" said Mr..
Adams-''Mr. Thompson, in IL years, defauter
last July for eieren cents, but being apprsed Of
the same, he promptly made up the deficiency. |
cannot remove him. He is the most prompt and
faithful officer we have"
This is the same queer Jonathan Thompson, who
set on foot the present developments of the Man
haitian Bank
Last December, when the directors of the Manhat-
tan Bank were celebrating their dividend, Mr..
Thompson his surprise that the line Of dis
counts was so small-and the line of stock loans
large 81 should like to those assets, said this
eleven-ccnt defaulter. This caused others of the
directors to hnk-and from last December up TO last
week, they have been thinking and thinking till
committee was appointed, and the present state of
things discovered
Mr.. Robert White, the Cashier Of this bank, has
been in office about 20 years and he is probably rich
as sub-treasurer with legs. During the last war,
Robert first to this city and acted in the capa
city Of agent for the prizes captured by the Balt
more Privateers. This was very good beginning
for he has been the agent for various kinds of
Wall street privateers ever since. He and Camp
bell p the Of respectable Irish dstiller,
who lived in Baltimore II was in his fathers dis
tillery that Bob" he is called, acquired the hap
py tact Of mixing his whiskey kindly with water,
that il tastes like mothers milk, and has given the
flavor to the Manhattan water.
Soon after he came here, Walter Bovine became
his patron and godfather; and, afterwards, Henry
Remsen, then President Of the Manhattan Bank,
which was, at that time, regular patriotic, demo-
cratic institution it still continues In process
Of time, Bob got to be chief oficer-turncd out his
patron Mr. Remsen; turned tail upon his godfather,
Walter Bovine and appointed for one Of the tellers
the big dog which we have given in our engraving.
| About the year lS32-'3, Bob united with several
other great fnsnciers and induced General Jack son
to remove the deposits. This, we believe, was the
beginning Of the troubles in the Manhattan Bank IL
then established agency in the street, to do sha-
wing at high prices. For many years, Bob has had
the control Of the Bank, and put in his directors
by the aid Of the proxies OF the English and Irish
stockholders, among whom is the Marquis Of Car
marthen for large amount.
Mr.. White lives a. bachelor at a very elegant
house. IS Barclay street. His wine cellar is consid
cred the most unique in rich old wines and liquors
that New York produce. He is also, lik my
self devoted admirer Of the fair sex-and has al
tended at the fashionable soirees for several years
In personal appearance, Mr.. White is rather short
but well put together. His countenance ha
fine fresh color, acquired from the purity o
the Manhattan water, of which he has poure,
over his rosy lips long and deep libations. Hi
nose might be taken, POLITICALLY speaking, for
. the red. red rose
In literary requirements, Mr.. White is not so re
narkable as in pneumatcs and hydrosiatics. w
have not heard what his poetic talents are-but hi
knowledge Of finance is well known.
welearn that large number Of Pearl street mer
chants intend to call large meeting and pass some
, thing like the following resolutions
Reso'rsd, Ths, the hanks Of all Pearl street b