Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1841-02-13

harrington. and Y Stra.on The Late p.,,I, =,
- N''e' u 'iiS INK SIraiiuu here a week or !
;y "n' disappeared harrington. however re.
"a'eu lie had no apparent business b,t n,nnscd
hii;iseliin drawing maps and rcnre.en,.J LiD,Ir -
having heen IA civil engineer Several or th. .,m.
s""hstiS VINO made their appearance her. .in,,ita
"euS'! WIN arlington. have been observe Ell To crnc
anu Co. nom Time 10 isne. until within ia. last eight or
Ten days. lew days befnre the late annual ,Iac
u"h OF directors OF this Bunk, S;rat,n again nm, l.,
hls appearance; and II son rumoreI ,h,,, TO-,
hn' fa'Hhst9h had become tho purchaser Of or:nc;.
P' par VI 'e capital sibck oi the Bank and was 10 be
et.'eo i'e>idehi and SraiiOu Cashier On the day
OF the election (tle 4h inst y these ruuor, So, 60.
n''"eu' SSoNilIs Communicated 10 the Direction, and
Sioskholiers. that Harrington had bc,op, ,h. ,
chaser ui one thousand shares originsv suh.c,,l.L 10
the name Of f 2. Smith, and thai no fS.,,,II, -,
iher with Wiring anl Iron were nS,ut 4, lo,vc ,Lo
hisi''inA aud the place. This sudden change in IN,
affairs oil tie Bank, excited SONS ,urnr, in ba , .
OF our citizens generally, anil suono., :, al. -
OF the Directors too; but a decidedly favorable i'm
p'e>S'i had bcen made IN regard To harrington H..
S'o'le' ani ny some Of the strangers who had been
iuou' our 'o"h' and who prOiesSed To be scqusin,e
with Ina character suspicion ever entered nto tho
MINUS oi c[eus or Director that the transfer Ia hin,
was noia FAIR bIsinss. Transaction or that N. ,rir
vi the Bunk would not continue % be conduet teal
WIN me same prudence and integrity with which
they were supposed To have been conducted in the
uH'e past. The election of Directors took place aud
I m
the place Of Smith AMI Scoyille AMI DARN, N,,on
aud Jaus Rsgneir were elected in the place of John
] Ca'Hs and AuSuslin Leslerq; the balanc, of The
ard remaining a. before. The Directors then cl-,
tea arlington President. nl. his request and IN
ON hs recommendation Siraifun Ca,bter Al ,I,c
same meeting, committee oiiisce of the Direcinrs
Was appointed 10 examine the condition of The R,n'
LAS conHi'iee proeredel 10 the snecs ON tn
I'd eAiii'e ihe nOtes and bills discounted snI IA.
several Items oil account embraced ia The las, month,
ly statement of the Cashier; and being un,b. Il, do,
'eci any error an said monthly statement and HAVING
the most unlimited Duii,lcnre IN the honest al, g.,
VILE were induced Ia publish their rspor, along with
SAID monthly statement. assuring tho public thai The
sumo was s'TiciIy eorFcet No one acquainted with
'he ehirie'er ui The gentlemen who composed this
\ committee, can ior moment doubt their pericr;
good iaiiA IN IN ISing this publication; vet the re-
suit shows. that sci Of were ever more yyoGL
" deceived IL - due To the whole Board IL Dire
tors To say. thai they w5ro all unacuulin;cJ with
practical banking. Their hone,ts will not be douh.
al by those who know Ihem anI they are mon VIII,
have acquired fair reputation for skill anil abli,y
iu the sew era branches 81 business io which IN =.
| have been Hrcu-tunrd. with honest ,nJ 6.nlGi
.i't"fs' thcy would doubtless have been very rohI
Cl'ectofs IL must bo admitted, however thu, owinr
''o' iaei rerie"ce or rome other cause. they were
MOI proper Directors To keep watch over m,
with whom they unwilIingly n..ocio,.J Pc,
maps more experienced might ha,s bccp Loc.ix
Ell ~ The same way. Mr. Hatch. ono OF The D,rL
'"inihiSs'oners. and an old Cashier during IN, I,,
summon. spent several days ia examining the na,,r,
oi Ihe Bank and expressed only his cuti,. Ii;
i'Tii1h with The result Ofhs inv esiigaiioa b,, com
nended The oiiiesTs, III terms Of the hig.cs nr,i =,
some the Directors P"'"
lew Gays alter the change Of ofTircr. Seoville
WIN hi' iainly, ID accompanied by E,ton .,,,,.J
Tor New York city. Whiting also. Io.t h,,, far ~.
aNs"ed oiJeei Of closing Hp A,mo businr., viii Co.
ner agents Of tiie Bank Immediately after ,o ha'
{" "i'ers ioPS = n'c, an unusual run npon ihe Rant
commenced. harrington redeemed all name, -
same III specie currency and eastern draft. mill M
currency on hand Was exhausted and The 80. >.
du' ed TO less ih1a SIS 900. He still continued :,
oer eastern drafts, but bill holders refused In 800,
mem Without mn endorsement; aud the firm oCP 4,
u > Menagcr Co endorsed his drafts to the nmoup,
"i soma 10 or Sl4 600 on pledge of 40 rnpcb ,oo
us security. Daring all this run no annrsher.i, :.
To The soundness of tho Bank was felt bv on, czoo.
DePosiiors not only suffered their deposits 10 ron
but actually continued making deposiis no Il, Ia. Tim;
oi Tue iaiinre aud Tho bills OF the Bank continued 10
pass currently in town up 10 the last moment bsG,
the hnsl explosion. For some time eG,re F,rrirg,o
came into Office. The former officers had bc.n soI;
a'd giving ~ redemption Of their circulation org.
amount of time drafts upen the Phcnix RINK Y Y
"hSn harrington came into ofEi.e, ne commenced
drawing upon the City Bank Of New York and had
drawn TO the amount of so5 900 " hen the late c,n
SION look place. few days previous 10 the late or
Po'on. some Of tho Directors ncsrtanod IN S-oviIi
Srails UPON The PheniN Bank were coming bork nro
tested Harrington endsavored To convince tho IL
reciors That these draft had been protested on
Oi some lnisiaks as TO the time Of presenneni and
INSISTED they would still be paid Every mail. b,v
ever continued TO bring additional notices of nrot,.t
and from oil that could be learned az 10 the ra,e, !,
circulation. u began 10 be that tbere ,
more paper circulation Than shown by the statement
OF The Cashier On the 23d inst tho Directors mat a
Tie Blnkiag House. aud demanded Of the oGicsrs The
frf nnfo a &.
the numbers on the bills redeemsd with a view or
asceriaining whether false statement had boon made
ihis register could not be found They then dem
anded the bill Of Raudon, Wright a, Hatch. the an
g'a'en' 20 certain how many impressions had been
.urhi'heu oy Ihem nnd that was missing also Farr.
ingion and Siraiton were then removed frn Office
and Mr. L. r. Monsgsr elected President. AMI roys.Ic
'nshicf. Assoon a. these events were known in the
village. dciUsiiOrs and bill holders became alarmed
and made rush upon the Bank We found how,
ever ihe currency al gone. the specie in pledge anil
although nothing certain was known ns 10 an over H.
sue OF circulation yet The alarm was snch that do.
posior and ban holders offered 10 take he discounted
notes oi The Bank ~ satisfaction Of their claims We
ordingly n obedience an order Of the Bard of
Iirecor-; commenced Designing these notes in s,t,
''s'on % I've claims which eamo agonst us and have
continued "a De- until aIl the paper ON hand sp,
p',cd 70 be Of any value has been disposed Of IN
redemption ~ the bills n the Bank and In s7fi.C.r
non 81 The claims q deposiiors: md sfl We hear of
large amounis Of orr paper IN circulation in almost
every direction. There can be no doubt Inst large I
over issuc of circulation has been made but 10 what
e1icut D. yet unknown. We have been able 20 troeo
p number of The mysterious strangers who made
HsT appearance here ~ November last. sirnuItsns.
'Isiy with Harrington, and arosu-cI that tbsv were
'i agents iyr putting The paper of This Bank in eircn
iion. although they transacted regular bushes,
18th the Bank.
The Investigations which lave been made. satisfy
no. and have satisfied The Directors snd ctiysps ,t
conspiracy has atis'oJ between ScoviIle. Wbitipg
norwood. Harrington. and host u others ~ r,r,y
90 one of The mist sinpandous swinIlng operations
lroush ihs insirumentlliiy Of fhis Bank which b,.
Yer been pracuoed by my 81 of scoundrrls. uoop
~ community While fhe homo business OF the /,
ank hls been carried on honestly 5nd prndsogv 4, !
appearance, ihsrs can Be No doubt That sscr, agents