Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-08-05

dollar notes. Mr. Morgan, President of the Union Bank
has resisted the proclamation.
We recently published statement of the affairs of the
Morris Canal and Banking Company and with list of the
names published by the company its directors fol-
lows =
DREcroRs OF THE NORRIS CANAL BANKSG CoMPANy
Second etass er 9, expired Third eisss term s1pired
Jonathan Goodhue, Henry w. Hicks,
George Griswoli, Washington Irving,
Simeon Draper, Jr. Daniel Jackson
James b. Murray, Peter M. Ryerson.
First class, term erpires Fourth class tern empires
Samuel Reeves brooks, Edwin Lord,
Edward r. Biddle, John Moss,
Thomas C. Cadwallader, John Travis,
Garrett ID. Wall
Fifth class erpires March, 1871:
Louis McLane, Stephen Whitney,
Henry Yates Isaac II. Williamson,
Christian B. Zabrske.
We accompanied this list with call upon these gentle.
to come forward and let the public know what hand
they had transactions ofthe company hch have
brought disgrace upon the country The first has
been from the honorable Garrett d. WALL of New Jersey
and is as follows
BURLINGTON, AUGUST l. 1910
SR-In the Globe of the 29th ut find extract from
the paper edited by you, stating that OF the
Directors of the Morris Canal and Banking Company
the time OF issuing certain bonds beg leave to
but in making this correction, desire to be understood
conveying upon the officers Of that bank,
directly indirectly, or in any way sanctoning any
chargeor imputaon against the company its officers
be found in your paper have knowledge of the tran
sactions OF the bank accepted the appointment
director in that company, in any way acted
director Some since the legislature New jersey
by law appointed with several respectable citizens of
that state, director OF that company The only induce
men ever held out to to act director was that the
Morris Canal was great public improvement, intimately
blended with the interests Of the State and partc uarlv
with the interests OF the upper part of it and the only
cause assigned for using my name was my well known
devotion cause Of public impro vement was in
Washington at the time and took no part in the passage
OF the law. No pccuniary inducement ever held
to me to serve as director or 10 lend nv influence TO
a ulatnu al
was any stock put my credit fifty the
doilaror any other sumnor any offer made to do
never have been stockhoder of the company owned
in my right single share; and if any shares ever
stood in my name the books of the company my name
was used for other and without any interest
In March last received letter from the cashier of the
company informing that had been elected director
OF it by the stockholders. The appointment made
without my knowledge application. promptly by
letter to him. declined the appointment had come to
more than sixteen years ago. never to act
as director of any banking company; hitherto have
adhered to that determination.
have never been made acquainted with any of the
banking operations OF the company have been
suited in regard to them; have acted its
counsel, or in any other intermedded with its
concerns II the affairs of the company have been
Quoted Honestly and to the advantage of the company and
of the community entitled to share of the merit;
otherwise it is not my fault, and not cradle
responsible for it. Yours respectfully,
GARRETT ID. WALL.
James G.. Bennett, Esq.
Thus far Mr.. Wall eXonerates himself; but his
was published by the company in March, 1897 when
Samuel l.. Southland, Esq, President Most of the
other published, doubt without the
of the gentlemen, to influence public opinion is the
duty of all these gentlemen to out Mr. Wall has
DONE states that he promptly by letter. refused act
director Let them assist in exposing those who used
their names to defraud the public by remaining silent
they become partners in the transactions.
II will be recollected that after the explosion of the
grand corner of tae Morris Canal the spring of 1895
organization of the TOOK place,
McLanc at its with Haggery and others spec
ted il all through the summer, with aview get osses-
sion Of the depostes then about pac ed
with the banks in this city. From that time the company
with the influence ofhe of eminent men, no it now
appears authorised the of their Names became
large operators in loans and stocks, until in November
1885, Governor s. j. Mason of ordered the deiv
cry of bonds oftha state the company according to
contract previously made through his agency That con-
detrimental the of the state that
new arrangement made, and in Jan. 1899 the u s.
Bank guarantee for payment of the Bonds as
appears by the following.
Cory OF Bosp THE UNITED STATES BASK ou.R.S.
PAYMENTS the MoRRIs CANA
COMPANY STATE MICHIGAN.
Whereas the State of Michigan did heretofore sell to
the Morris Canal and Banking Company Of the State of
New Jersey bonds of the State of Michigan the extent
of four millions of dollars of which said bonds the agent
of the said State, by order of his Exceency T. Ma
Governor OF the same under date of November TO-
A. d. 1888 has delivered to the sail Morris Canal and
Banking Company the sum OF two millions seven hundred
thousand dollars aud has received the obligation OF the
Morris Canal and Banking Company pay to the said
State Of Michigan the sum Of three millions hundred
and five thousand six hundred and eighyseven dol
lars fifty cents So l456S7 60), at the times and in the
amounts set forth in the annexed list Now this agree
made the ent ninth day Of January 1880
between the Bank OF the United States for good and
valuable consideration to paid by the said Morris Canal
and Banking Company has agreed and hereby does agree
guarantee the said State OF Michigan the punctual
Of the said at their respective dates by the
said Morris Canal and Banking Company, the said State
of Michigan and the said Bank Of the United States hereby
binds itself the said State Of Michigan pay the said
Of money the said dates the State Of Michigan
Of default the part of the said Morris Canal and
Banking Company Witness, the corporate seal of the
President Directors and Company Of the Bank of the Uni
ted States Philadelphia this twenty ninth day Of Janu
airy, Ammo Domino thousand eight hundred thirty
nine.
Signed n. BIDDLE, President
Attest: J. CorPERrHw,rE, Cashier.
The valuable consideration here ment oned appears to
have been the transfer Of the stock United States
Bank which transmitted 10 Europe but the market
being propitious for their SALE they the following
October became pledged for Mr. Jaudon's negotiations
while the United States Bank making this arrange
mest with the Morris Canal for Michigan stock the fol.
lowing Arrangement was made with J. q. Gamble, ofthe
Union Bank for Florida bonds. Col. Gamble, his re-
from London in 1892 where he negotiate Flo
rida bonds had left with Palmer, NKllop and Den, $780,
fthc bonds TO sell when the market would suit In
june 1882 Col Gamble sold TO the United states Bank
for its post six months, bonds Of the Union Bank
drawn against the stock held by Palmer MKillop, and
Dent and payable LIST November LIST December LIST Janu-
airy, and LIST February, in equal instruments These
To bo mo NV soft he ene how.