Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-01-07

allow opportunities the Cashier to prosecute his
schemes of fraud-the practice Of recording the pre-
sence of one or two Directors as board, and pro.
ceedng to the discharge OF important business as II
| justified bv proper numbers
An important resolution affecting the rights of the
stockholders seems TO nave bee adopted, when only
two members of the beard were present
Another evil which operated delete riously, is the
loose manner IL transferring stock. Persons give
proxies with the knowledge that stock has en-
transferred TO them merely for the purpose OF inhu
] cncing an election.
The interests of the public seem 20 he nand some
legislation which shall compel the attention of Di
rectorS TO their duties And il is oh vous that
,nere should no longer exist any doubt whether the
law provides adequate punishment for the executive
oihcer VIC appropriates to himself ar wastes the
lunds submitted to him in solemn trust and uses the
iaciities OF an honorable Office to deiraud the
munity who put trust in his integrity
The labors of the Grand Jury daring portion Of
the session have been painfully unpleasant, and FREE
quent appcato, has, Of necessity been made to the
Attorney General, George w, Barton, Esq for egal
assistance and IT is due to that gentleman to state
that he has manifested constant desire to promote
the bects in view by the Grand jury, and to aid the
inquest by his legal knowledge. The efficiency of
rendered, seem IT, demand public acknoWlea me Mt
from the Grand Jury.
JOHN A. BROWN, Foreman,
On behalf Of the Grand Inquest for the city and
county Of Philadelphia.
Peter Fritz, Clerk.
REMARKS OF THE PHILApE.pHtA IssUIpyR-It
seems that IN this matter the and priscipal Of
lender has been permitted TO escape, but that sly
eight other individuals either directly or indirectly
connected with the bank have been brought forward
by way OF substitutes. The various presentments
as preferred against the individuals produced liz
Tie excitement, especially two Of the gentlemen
now designated rs conspirat0rs have long been con
siiered as among the most respectable members OF
the Philadelphia Bar. Many persons incline to the
opinion that the Grand Jury have gone entirely
iar,-but as the matter will no doubt be fully and i'm
SfIOnf tad With hold nlt
mark. In one of the protests, we understand, one
or two OF the jurors said be interested in the
stock either Of the bank Of Kentucky or the Schulz
kill Bank.
PROTEST OF ONE OF TUE INDIcrED.-The under.
signed, against whom in conjunction with several
others, the Grand Jury has returned presentment
as the basis of indictments charging cons piracy H.
legally to conduct the late election for Directors Of
the Schuylkl Bank, protests against the seeding
as containing accusations utterly unfounded in fact
as inconsistent with the painest principles of Justice,
er paTfe and without warning, as emanating frem a
bedy not legally constituted Grand Jury, and
msdirected concession to existing public
IN relation TO the allege previous misconduct of an
individual, which, at the time OF such election,
unknown to him, and as unsuspected by him as by
the mass OF his fellow citizens.
The undersigned, N acting Judge Of the cleo
tion referred 10, having been suddenly called by
the officers OF the bank, performed the duty openly
posed by law As to alleged previous irregularity
wlhn the bank as to its stockholders, that subject
is obviousl mater of inquiry in civil proceeding
ON a quo tcGrTantO, which is in fact now pendiIg.
But both the form and substance Of the law regard
ing bank elections were, as he believed, pursued,
and he Promstly denies the participation by him in
any combination to do wrong.
When the under igned was con strained to attend
as ,cifness. and was examined before the grand
lary he could not suppose that he to be the sub
Jet OF presentment, il he had testified. as he
did not and could not, with TRUTH anything to incu
pate himself.
process Of accusation is thgs a result befere nm
heard Of entirely adverse 10 legal prime pie, and in
truth and fact unjust.
There being no pretence or suppositiOn, so far as
the undersigned has heard that he was in any way
cognzant OF the frauds said to have been committed
upon the bank, and the conduct Of the election
10. directors being already the subject Of civil in
vestigaton before competent tribunal, and having
been deprived Of the usual and legal course of pre-
liminary examination of the subject, he makes this
protest, and moves the court to qaash the bills !
pending against him. JNo. MILES.