The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-02-23

Ddnh, unucT an OIutI In OndnceIy, winch look
place on the 18th ult. in the Merchants Exchange
At that timewe remarked that there seemed to be
few SPECTATORS, who had dubbed together with the
view Of purchasing certain notes and mortgages,
trusting to their 'luck" for reasing any thing out
OF them. With some Of these spectators, it APP
pears, there is a chance, and in working out the
profit, they will bring to light curious develop
ments in the financial history of the Bank, its
President, George D. Strong and John S. McKib-
bin, well known political character, who is now
before the Senate for confirmation, and who fgur.
ed pretty considerably the affairs of the Bank and
who further has had the "button" of bankruptcy
presented to HIM In rather mysterious manner,
The creditors Of McKbbin having become satisfied that
the certificate Of discharge in bankruptcy presented by
him to them. obtained very sngulary if not frau
dulently, nasmuch as the assignee Of the estate had
the certificate book OF the Contender the hope that
they could by future proceedngsse aside this certificate
they attended at the sale ia the Exchange and released
two mortgages executed by McKibbnone for $50 ST.
less S243 80 paid, which was knocked down to 4. c.
Moore for S37 go This purchase excited the suspicion of
Mckibbin and when the other mortgage for $40 less
$40 pad, was put up, spirited competition ensued be-
tween McKibbins friends and the creditors who were
finally triumphant having bought il in for $27S.
Warner, Esq and ordered him to proceed to levy on
them Mr. Warner discovered that the $4,000 mortgage
quently he could not issue uton on without
renewing it. By writ OF 'cire feeias Upon the other
and effects of McKibbin at his residence in East Broad
way to which execution he pleaded his certificate in
Bankruptcy To this replied that the discharge in
was fraudulenty obtained and that he Nc
Kbbn had secreted and kept back certain property which
belonged TO his creditors On Monday morning last one
oil these suffering creditors appeared before Judge Bets
in bankruptcy, and having made affidavit OF the fraud al
leged order issued to Commissioner MullQan to
the Bankrupt before him. and then and there
anime into the matter.
We gather that in July ls4 McKibbin mortgaged to G.
Strong then President Of the Commercial Bank his fur
niture at his house in Williamsburg horses carriages Sc
for $4,000 but before the time OF the morgage came round
Strong applied for the B. Bbutton OF Bankruptcy and
in order to save his friend McKbbn he sold the said mort
gage one David Kinds for $780, and the mortgage has
not been renewed ought to have been in lS42 and
McKibbin now in the quiet possession of said horses
carriages and furniture at his princely mansion in East
Broadway AT the same sale in the Exchange another of
the creditors OF Mckbbin purchased mortgage of this
man. David Hnds and he in order to get matters as EASY
as possible for himself has told the creditors the history
his transactions with McKibbn, Strong and the CONNER
cia Bank, all Of which will during the pending
Kibbin in his schedule in bankruptcy appears that he
with Others owned 272 lots in WILLIAMSBURG on which he
Boerums. one to caraaan named John Bell, in Spring
street, for $40 000 who a very convenient enorser to
the amount Of several thousands for McKibbn Strong
Cos but who, is said is not the millionaire represented
by the said company Two mortgages given on the
lots to MIR Joseph Toten, over sas 900 This
young gentleman the private secretary of Mr. Pres
dent G. D. Strong and is at present we learn clerk in
the post office, salarytof about $500 year Morga.
ges without number of like character the creditors al
ledge have been made to ladies' and Others who could
by any possibility have been any time worth the
whichare to in the mortgages being the cons
ration paid.
The creditors determined to pursue the matter to the
very last and to make public expose of the entire pro.
ceedngs should they succeed setting aside the cert
legally entitled to be decorated with the fashionable order
of b. property to the amount of hundreds of
sands will be then such an over
hauling Of the B. BPS especially Of those connected h
the Commercial Bank and with the North American Trust
wake Rip Van Wins from his second esp to learn the
Of great hubbub. The following the part.
cnars OF the examination in the of Mcbbin yester-
day. SO far as our reporter allowed to be present
I'm Bankruptcy.
Before John w Muligan ESD, U. s. Commissioner
FEE. 22-Cass Of John s. McKbbin, bankrupt uho is
charged Nth hapins obtained his discharge and certificate Of
Bankruptcy through fraudThomas Warner Esq appear.
ed on behalf Of the creditors, and William W. Campbell
MIR WARNER called the attention Of the Bankrupt 10 the
first item Of his schedule B. which that mortgage
for $1,000 was given to John Bell on certain lots in vii.
liamsburg.
DIDO you recollect the date of that mortgage
Al cannot now state tit will appear from the mort
Estate the date Of this mortgage as you Gun
from recollection.
Al think it in 1910; have not recently charged
my memory with 1t.
Q-Was the mortgage given to Abraham Boeurum and
others as a part OF the purchase money!
A-rhat was given as part Of the purchase money Of
o-Was the mortgage, which you here represent, to
have been given to John Bell, the next mortgage
Q-Iiavc you any doubt about thatl
A-No have no doubt about it, and ii is the only one
| except the first to Messrs Boeurums.
Q-Are you quite certain it was the next to Mr..
Ayes Sir, quite certain
Q-About how long was it after you purchased the pro-
pery that you gave this mortgage to Bell you
can recollsct1
A-Three or four years, Sir
QState what was the consideration Of the mortgage
that was given to Bell.
Al don't remember now what the consideration O.
circumstances.
MrAWAnsER-Go on, sir and state all the considera
tions of that mortgage.
A-Let me refer to my books, and will tell you the
whole history would rather not answer until refer
to my books.
Mr. WARsEn-I willing you should do so at future
period but now want you to state what the consdera
tons Of that mortgage were.
that the history of the real estate transactions were
entered upon the books of the accused by regular book
keeper the books should be had and the Bankrupt al
Mr. WARNER replied that the Bankrupt could do so at
later period but at present he wished to have the
recollection Of the Bankrupt. (To the accused)
now from your recollection.
A-Iwiil tell you more when ! see nv books.
Mr. MvLLreAs-Mr. McKibbin, you have your counsel
here, but think il you have any recollection of the
Transaction you bound to state 4 far you can
Council BANKRupr assents to the decision of the
Master.
that mortgage given for portion of the property that
belonged to Mr. Strong, on division though should
hdVc 10 10 answer ulStlncty, give
you every satisfaction
Q-ExPlan how that portion of o. D. strong's property
became the consideration OF that mortgage
CoUNsEL-As you are going into these matters will
step into my office and see if the books are not there
Counsel leaves)
AMr Strong requested me to make It out to Mr. Bell
Odd you ever receive single cent of consideration
for that mortgage
Al cannot say that did, but know was all correct
so far as was concerned; presume did.
Q-What consideration did you receive for that and
from whom
Al must refer to my books don't recollect sufficient.
iy clear TO answer the question satisfactorily.
Q-Gve the best answer you can from recollection.
A-The best answer | can give il. that Mr. Ward had
charge Of my booksand my transactions in real estate
were numerous that did not charge my memory with
them they entered upon my books and all the
particulars are set forth in my schedule.
Q-I press an answer to my previous question
Al can't give you any other than have
Odd You receive any consideration for that from
John Bell
Al did not. If the mortgage given for my pro-
perry have received a consideration from person.
but If il given for that portion of the property set