The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-05


qaite an old-fashoned affair-sound, sensible, I'M
pretending, and giving round, unvarnished tale OF
the assets and liabilities of the State. Ii is written
in plain, simple style, and rebounds greatly to the
good sense and sober principles of the new Go.
| vernon.
ASTOUNDING DEFALoArIoN IN THE NEW YORK LIFE
| INSURANCE AND TRUST CoMPANY.-A few months
ago we were informed that another great defalca
ton or robbery existed in Wall street. and we an
nounced the fact in general terms. Had we stated
the defalcaton specifically, it would have been
tradiced by the Company by the Wall street press
by the Wall street saints--by some of the plous
clergy in their pulpits-and by all the respectable
scoundrels who plumber respectable sums of money
| out of the funds OF other persons. We would have
been called liar, beller, corrupt wretch, black mail
slanderer and the other thousand names that these
highly respectable, moral, well bred, and plous
rascas generally lay their tongues on when their
rogueries are in danger of detection
But the fact has at last come out in the NEST au.
thentic shape, appears by the following Card -
which was published yesterday in the Wall stree,
organs of fraud, bankruptcy, and defalcation -
n7- At meeting of the New York Life Insurance and
| Trust Company, held on the Sd of january 1919
being reported to the Board by the Committee ap
pointed to examine into the state of the affairs of the Com
that alton into the accounts of their late
Secretary, has shown that deficiency to considerable
amount exists but that there reason believe that
the same will equal the surplus profits Of the Company
and that is deemed expedent to postpone until the
monthly meeting of the Board the question whether the
January dividend shall be declared.
Therefore Resolved That the consideration of the
pediency Of making dividend be postponed accordingly
liabilities of the Company, the Board is satisfied, and
state for the information of the publcthat any loss
which the Company may sustain will not impair its CAPT.
al exceed the of Two Hundred and Forty Thou
| sand Dollars. WIN. BARD, President.
Here is pretty affair Ia pretty Board land a
pretty concern One-fourth of the capital stock of
this company is stolen by its late Secretary but the
Board is satisfied it will not exceed the surplus
profits" What confidence can be placed in any
| statement made by Board that so managed their
affairs as permit such defalcaton to take place
without their knowledge or suspicion None what
ever. .~
The shock which this awful defalcation has caus-
ed to all confidence in Wall street. is only spec-
men OF what will take place throughout the State
when the intelligence shall have been fully circu-
| lated. There are four millions of trusts in this
company. What will the owners of that property
| think of such an explosion
The truth is spreading about. The public mind
is settling down into the belief that no confidence
can be placed in the financial and respectable and
| pious people of the day. There is nothing but
| hypocrisy and humbug abroad. The Wall street
financiers, and Wall street, press are both equally
rotten and corrupt-and hence their bitter hatred
and persecution of the Herald, which ever tells the
truth and advocates integrity.
ATLANTIC PACKET SHps.-Another new packet
ship, to run between this port and Liverpool has just
been completed, and will sailhence her first voy
age next Monday This ship of the largest size. and
named he GA shhurt0n ,, in honor nf Rift
special Envoy. She is eleven hundred tons burthen,
and can carry forty first class passengers
In the construction of this ship her owners Messrs
Grinnell, Minturn & Co., and others, have adopted
| every modern improvement in ship building, and
have struck out new path in the arrangements and
decorations OF the cabins. About her hull are to
be seen the beauty and symmetry of the Roscius,
Siddons, Stephen Whitney, Garrick, Sheridan, and
New York, with their fattish bottoms and poop
decks, as introduced by Mr.. E. X. Collins few
years ago. On deck noticed the same excellent
accommodations Tor cows, pigs poultry, and sheep,
so necessary at sea, that were introduced on board
the Cambridge when she was built In between
decks there is plenty of cargo room running fore and
aft equal to three thousand bales of cotton or more
In betwean decks also there large berths and
clear air for the steerage passengers so much needed
tank that will take four thousand gallons of water
from the Croton, and keep it pure and cold all the
time. In the bows of the ship the sailor will find
every thing dry and comfortable, and warm berths
to creep into after fatgung days work on deck in
gale of wind Added to these, there are plenty of
boats including life boat to use in case of an emer-
gency, which trust will never occur But her
captain wisely thinks that it is best to be prepared
for every contingency.
1t is, perhaps, needless to give full description of
the cabins. So far the decorations go, it is per.
haps enough to say, that they are very beautiful,
and in the style OF Louis XIV. of France. There is
decacy about the finish that is really fine. In
the windows are panes of richly stained glass; with
portraits of Ashburton and Webster in the ladies
cabin, and the cote d' OF England and America
in the geaiemens cabin All the mahogany, birds
eye maple, and satin wood, usually used in the
cabins of our packets have been discarded, and the
sides painted as in the cabins of the Great Western,
with national sketches, not including, however,
the little Cupids on the doors. All, excepting
these Cupids is in commemoration of the recent
treaty OF peace between Great Britain and the Uni
ted States In the state rooms the berhs are fitted
up as in the Stephen Whitney, and the entrances
to them are la AngIais. They connect by doors,
so that family, in crossing the Atlantic, can have
suite OF rooms and not be separated night or day,
which is not the most agreeable thing in the world
Altogether, the Ashburton is a superb packet, and
are glad to find that Captain Hutleson, long and
favorably known as the commander of the Ontario
and oscoe, is to be her commander also. May his
shadow never grow less.
------
The RED-BAoK CURRENCY .-Governor Bouck, in
his message, gives pretty frghtful account of the
red-back currency 1t seems that the free banks
have in circulation
So Cos sos
Securities at the present market value. lbs, 6l9
Deficiency in securities. ................ S556,69
By this statement, it appears that the whole red