The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-11

Ii this be so, what will become oil all the BANK
rupts? The hostility of Congress to the law will
have a powerful effect on the Supreme Court. Ac-
cording TO the statement made by Judge Belts OF
this District to Mr. Webster, it would appear that
the benefit of the law has been taken very little by
principally by spectators and spend
thrills. We believe it is so.
Wall street Morals and Financc-The Duty
OF Grand Juries.
One of the most deplorable features in the ad-
ministration OF Justice in the present day, Is
said to be the fatal influence, which suppose
wealth. troops of friends, and assumed respectable
ty. exercise over the movements OF our courts Of
Justice, and particularly with grand juries. Petty
criminals are pursued with commendable zeal, and
even all those who are without influence connec-
ton with Wall street, seem to receive some atten-
ton. The celebrated aphorism of Commander
Mckenzie, that no justice can be done to any
person who has wealth or friends" would seem, in
some instances, to be specially applicable to the
great rogues Of politics and finance. But if the repor
ter of popular newspaper should make the slight
est mistake law case, il is Immediately catch
ed up by some person--made the foundation of a
great cutlery, and grand jures are importuned to
find bills OF indictment by the bushe.
IF the Grand Jury now in session at the Tombs,
really have wish 10 perform their duties-and to
do the public a downright service, we call upon
them interpose some barrier TO the terrible cur
rent of plumber, robbery and pecuation which is go
ing on in Wall street, and elsewhere. While the
bankrupts by thousands taking the benefit of
the act, and repudiating their honest debts-some
of them due to the trades-people-the shopkeepers,
the store keepers-and even to all classes. down to
the very cooks and washerwomen, the elite among
the fnanciers of Wall street, present scenes of de-
moraization that make the mind stand perfectly
aghast.
In order that we may not be accused of any ex-
aggeration, we desire the Grand Jury to read the
following statements from all the principal Wall
street prints, only reference to a recent case:-
From the Courier and Enquirer.]
The st ock of the New York Life Insurance & Trust
Co. is declining rapidly to-day 62t offered and 90
asked We sorry to add that the defacaons of the
larger than was computed in consequence of the
very since offurther embezzlements.
From the New York Americana
Is FAIrH7The following paragraph from
the Journal OF Commerce. makes public what FOR day or
two, has been the talk of Wall street.
The shock which such repeated acts of dishonesty
in the management of money concerns, must give to
our social and national character can hardly be mea
sured.
EDWARD A. N,coLL.-The fears which have been en-.
tertaned since the late Secretary Of the Life Insurance
and Trust CO. fled realised The Investigations have
priated his large sums Of money belonging to
the Company How large the amount Is is impossible
say yet At meeting of the Company yesterday, it
resolved tha any loss which the Company may
tain will not impair its capital nor exceed the sum Of
two hundred and forty thousand dollars"
What increased the confidence OF the public in this in
sution that addition to the supervision Of the
President and Directors the Chancellor ofthe State who
has kept in this Company the trust funds of his Court
nuay caused strict examination OF its affairs to be made
by one of the Masters in Chsncery Yet in despite Of al
these precautions il is said the populations of Mr. Nco
have been going ap for iskff Nrs-Ine express
gives the following list Of entertainments which have
to light in this city within the past year. We reco
lect dealcation not included in the list but il wa,
only $l0 600 affair and might easily be forgotten The
amounts Of course do no: pretend perfect
l. Cashier OF the Commercial Bank, say, $4,000
2. Thomas Lloyd, Collector Of City Revenue 100000
5. James T. Schermerhorn, Secretary of Ocean
Insurance Company I5Ooot
4. John Ahern, Mayors Clerk, $4,000
8. James Ward, first marshal, 50OOt
6. Pollock clerk in the Bank of America 20OO(
I. E.. A. Ncoll Secretary of the New York
Life and Trust Company, 5OOOt
$3.50 OO(