The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-22

u.aw nvlss lsn1 dealer endor.'
Of the bank Did the cashier agree ith the builder
that he and his partner would provide for the notes and
III in shoul the builder be called upon to pay
them Were these lots and buildings afterwards mort
gagged to free banking association and the amount
taken in its stock How many thou,and dollars in ia
clities did the cashier grant this dealer Was not
hey end the teens When the directors discovered how
large this MANS liabilities were and ordered the to be
reduced did not the cashier allow him overcraw his
account, and then discount other notes to make
good such overdrsfts How many thousand dollars will
the bank lose by this man What sort Of settlement has
he made with the bank HISS the cashier given security
for his proportion What other and large facilities did
the cashier allow this sirectori
These Of the questions pertinent the state
Of affairs that were asked Of Mr. Chandler Starr and
about lat OF November and yet neither in his report
publicly has he answered them in any shape. The
public are told that the bills will be paid nfnty
days-ey what means not stated. The safety fund has
ceased to exist for all practical purposes aud the
OF the bank it may be supposed will be realized with
dimcuy The legislature has before it resolutions pro-
posing an investigation into the conduct Of the commits
oners and the quicker brought about the better for
the community, and for other banks There three
or four other institutions both chartered and Free the
notes Of which very low in the Market and deposit
tors suddenly find their funds locked up from them they
must not be surprised.
The resumption bill has at length been perfected in
the Ohio legislature and the sound banks collect
as possible Tne bill provides also for the just dstri.
button of the assets Of the insslvent banks follows
Any bank which shall fail refuse pay in coin on
demand any note other evidence Of debt Issued by
for the bank and intended to circulate money shall
be deemed to have abandoned and forfeited its charter
sndto be nsolvent and the president directors, and
stockholders shall be held jointly and severay liable in
their individual capacity for ell done liabilities
incurred after such refusal TO pay.
t. any bank, which r.: refused e pay sforss.d or
u in an insolvent or falling condition. shall after the
passage OF the act transfer any Of its effects for any
purpose, such transfer SHAH be utterly void.
This law will have very beneficial effect in giving
sound currency to Ohio, and rapidly sweep away the
rubbish left by the failing banks. The Commercial
Bank of Lake Erie has been paying off its depositors
and has nearly exhausted its ready means. 1t Is going
on collecting its debts and, fast it realizes any
funds applies them to discharging its liabilities The
Bank Of Cleveland has also adopted the same course
has paid nearly all Of its depostors and will collect
fast possible and provide for its liabilities
The rich and populous State of Ohio the credit Of
which short time stood highest in the market
its stock was of the three which selected by
the administration Paris for introduction upon the
Bourse, on account of its high character and now by
the mere influence of the borrowing policy Of its rulers
who chose rather to sell the right of suspension the
banks for the paying the debt than honest
ly to con6ne its expenditures within legitimate means,
and levying taxes for the amount selling at per cent
discount In order to show the actual of that
state we give the table Of the appraised value Of certain
descriptions Of property within the state returned In s4
appraised for taxation 1t may be remarked that the va
uations falls far Short generally, one this
particularly the in reference real estate which
il returned often at one fourth its true value.