Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-01-08

6.6l9.735 |
o,se, on debt. and Real Estate 46Os DOS $500 65i
$iO7lOoi 236,Ss4
Here we figures that the least 90 not speak
much for the accuracy Of the statements The same dhce
pancy the statement made by Mr. Jaudon
under the date of October and that made by the
Bank here for the date We compared the two state
men week SINCE and will here repeat the figures
which tn. greatest difference appears.
Statement. Statement.
Discounts, S3s7si,64s 39,393 81?
Stock accounts H7s2,3l7 IL 2O6 las
Due by State Banks 5l39,t6O 7,2saSi3
Specle lOl5273 l,593 $50
C,rcui alton 4O3s7l7 s,3ls, as2
Interest account 495,39s 6i927o
Coatipgeat fund, s50.43S 9A404
Depesites Sy396947 S,l92s1l
These tables profess to be statements Of the actual
condition Of the Bank the first Of &c ober 1882 there
difference of 81 900 600 the discounts and nearly S5C0e
900 the Stock This arises without doubt from
the facts ansd in the report Of the Grand jury in the
of the Schuyki Bank, in regard to white washing
report that concern made ia November last by Messrs
vansycke Fleming and lie Fevre In speaking of their report
the Jury hold the following remarkable language.
appears evident that the committee knew nethAg Of the
fraudulent sale of the KeEtuk ky Back Stock Of that of
the schuyki Bank stock that they could not BY rules Of
banking Institutions exam private accounts. and therefore,
ignor mt OF the drafts that existed TO very large
amount
Here we have an account that the committee of highly
document recommending the bank the confidence of the
pubic and the property Of innocent individuals TO
the amount Of Millions at the very time that Of the most
extensive banking frauds perpe;rated the point Of
cxploion The plea for this crmina, neglect that The bank
ing rules did authorize them into the pirate
accounts )" in other words those accounts where the
fraud, would exist fiat all The banking rules of Phladcl
pha do not authorize the payment of specie for
bills II the rules Of banking in Philadelphia elude the
fan. in hapL
eff ,cusy cloak roguery in another.
TIL. remarkable feature in the report Of the
Bank put forth at the meeting Of stockholders the
dacous oudence with which, after becoming bankrupt and
refusing pay their debts for three months they parade the
profits Of their business before the public follows:
Profits ofast six months from all sources 1871 70
Deduct current expenses,
salaries, sc. 500 $50 70
Interest on bond to U. States, $4,000 70
Net profits, s7e7,5o7 Ia
Add balance TO credit Of prof. and loss last
September. 302l 2ss 81
Balance Of bonus for charter for unexsired term
2syear, 2ceocco 90
Sass $50 46
Deduct loss exchange, interest and specie in
Europe, I,Isoslo IA
sS,g7s9aS 20
This shows profit Of oil 2i COS for sir month"; which if
divided So Of capital stock would be per cent
or per cert per but will be observed that the
profits Of three ncnths neuoed in the % O2 credited
Z, rrcht aud Los the LIST September are therefore
twice enumerated The item of balance bonus for char
ter" one and does appear any Of the other re
turns. Ii therefore appears that the latitude
enjoyed in their account with respect figures. allowing
the losse, TO be than emaed the bank cannot
clare than per cent and vhhods that on plea Of
respect to the legislature although by the charter they are
authorized 10 divide, notwithstanding the zion The
failure to pay the regular dividend In London must be
blow to the credit Of the bank thu present uncure
and Of the decline in the stock here The utter
inability TO raise the money pay the dividend is the tru.
The meeting closed with the election Of the foowip,
officers for the ensuing year, as follows:-
BANK THE UsIrp STATS Jan. It'll 1870
At eleesn held according on the 6 instant for
twenty stakeholder, TO Directors for the ensuing year
the fol owint gentlemen were duly chosen, viz.
Thomas Dunlap, Manuel Eyre,
Jehn A. Brown Richard Price
Joseph Irser,oll Matthew Newkirk
Richard Alsop, Lawrence Lewis,
Joseph Cabot, John X. Nen,
Lew. wsln James Martin.
John Consell, George Handy,
Robert Taylor,
Thoma, smith. sr Delaware county
George sheaf, Of Montgomery csuniy,
John krkbrids Of Batks county,
JJnn STEELE, of Lancaster couaty,
Jonathan Rohert., OF Montgomery c,unty.
And at meeting OF the Directors heid tat evening" THos
DvSLir, Esq, was u snimousy r-sleet d Preside4t.
j. CowFsRrHwAtrE, Cashier.
The time has arrived FOR the Banking IN
der the general law OF this state make their .,m annual
returns, and also thu safety fuod banks make their arpua
statements Thetwo systems have been in operation
one year. and both have experienced great difficulties NOR,
particularly the former based they on stocks and
real estate which have Throughout the been deprec
10 value, daily becoming incsnverbe. These facts adj
ded to the stsg,son citrate rendered IL mpo SD for en-
TO keep GU, great amount Of bills syabe 10 specie on d,
mlud AMI early led 10 the their part Of post note.
payable at future day Thi, description Of bills BE- srcu
lated money expressly forbidden by e Law under which
the PROBES, TO act The baHk therefore skns
the distress for money in the Western states issued .,v
amounts Of these bill, aud them Ohio lipoi. aid
other states, 10 be ued in the purchase q produce To
bansul effects Of such proceeding the ad. Of IN.
West and the disorder, in tie currency TO which IL wouls
taby lead the first the public s,s,,,
Many months sgo, the City Trust and BarLnr Comsany
of this cy issued large amounts, and sent them broush
an agent TO Indiana for circslaton. The M,nh,,,.,
Exchange Bank, the Washington Bank and some oths,
IN hi, city, pvr,uel the course and would had II
rot osen FOR the pompns with which we discovered and
'ostd tn manGuvre, have inundated the West but We Lave
he satisfaction Of knowing tina, the timely notice. 10 te n.
aid, exposing tie dGereaee between the post note. Of
'ants and the bills they issued signed BY the Comptroller have
ayel heavy loss many nsta ces The pubic
beco sufficiently the alert 10 nut an end IN
such operation. 10 future TO any great extent The
Bank Of Seneca County, also post notes 10 ndans