The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-07

"After the passage OF the General Banking Law in
this State in the winter OF 1885, the friends oil that
system made great exertions to rear associations
under it, Ifet interest in these efforts, and had
various consultations with several prominent indi
viduals in this city, with view to the creari on of
a large institution under the law."-lGraham's
Now, who were these prominent individuals
Were George d. Strong, James B. Murray.
John r. Peters, and Silas M Stilwell,
among the number I Were there not, frequent
dividuals here named, or some Of Them, from the
passage of the Act, to June l3, 1893, in relation
to the formation OF an association-and were not
the primary objects OF each the same-to create
means Of raising money upon real estate, that
would not command direct loan OF any sum,
through the medium of stock in such association,
to sustain themselves in their pecunary engage
ments ? Did MIR. Graham g feel an interest in
these efforts for purpose like this-or were his
various consultations with view principally to
aid the business Of my younger partners, Messrs.
Wood u POwersr'
The richness and righteousness OF this last joke,
demands separate chapter
"The project, however, was abandoned by US,
and for some time it was generally supposed that
no bank could be organized under the law" 4
project abandoned Z The law was passed April
Is, 1885, and took effect twenty days after its pas
sage; and the next paragraph OF Graham's state
parties had decided upon an organization into
which he was innocently and unsuspectngly led.
The law had been in operation one month and
five days, when these "varlous consultations
efforts" and the project abandoned by u.s. and
certain other parties, "without my knowledge or
pariicipation,' had +" decided upon an organiza-
ton and invited me attend meeting" II
tany short period for such great exertons to have been
made and failed and such ardent feelings o. interest to
have cooled down and subsidized and for udicious per.
having the object much ut heart to have deliberately
ganzsd under the law" But snch strange things do hap
A.
| thing practicable as reasoning upon probabilities.
There oil adage about telling certain stories
to the marines" 1t is probably not applicable in this
without my knowledge or participation other partie,
had decided upon organization, and received writ
ten communication signed ny acommttee Of highly res
pectabe gentlemen inviting me to attend meeting
the 18th June, 1888 at banking in Wall street fol
the purpose Of consultation upon the subectlGrahaH
who were 'the highly respectable gentlemen of the
date, which Is given. and from the manifest anxiety
bolster up the statement with names, is singular tina
Mr. Graham should have given the public merely his Owl
forming them who they Can II be that sppre
hension Of the old maxim "a man is known by the com
pany he keeps" led to their suppression
The names Of this committee the more important
In this because il would enable tn public to judge
safely respecting the yeacy Of the assertion that al
tain connected throughout this whole affair,
inseparably as links in chain and il Mr. Graham hal
not ecpsed his former reputation he 10 still generally he
eved to be distinguished for using caspaws to "hau
the chesnuts Of the fire. and he may have caused
letter to be written to him, which he dictated himself
Such being the public Impression his mere statement
is not satisfactory. Let il this committee"
not composed Of men, whs with Mr. Graham for
years, "ground one anothcrs axes!"
But the more important enquiry to which this alega
ton tends. yet TO be answered aude to the $40 OO
charge for organizing the company regret to find thai
Mr. Noyes' statement should be referred to as "sasfac
tory explanation of that matter" when Mr. Noyes threw
the burden ofthe explanation on MIR. Graham. He pro
essed to have little knowledge the subject, got one
third part Of $4,000 OF the money and stated the claim
arising principally from MIR Graham's constant employ
ment for months in the effort get up this association
Now, Mr. Graham is to be credited in his statement
ian organization had been decided upon" without the
knowledge participation" Of MIR Graham and it IL
matter Of fact and Of common nooreiy that Judge Tall
madge drew the articles Of association without compen
saton for the interest he felt in the efforts Taking the
statements of Graham and Noyes with this fact that the
only difficult service grautously performed by
Judge Tanadge, and appears SO far the public
yet informed that the enormous sum Of $4,000 was
charged and paid in cash OF the funds Of the stock
holders Of the A T Company, to Mr.. Graham. for
his approval Of an organization already decided upon,
upon the "invta ion of committee of highly respectable
gentlemen"
have thus examined only the second paragraph of Mr.
Grahams statement" and fearessy ask has it beer
prepared to disclose or to conceal the truth Give
more light. II.