The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-02-15
The Great Financial War.

extraordinary management Oi tic Noa'" n"'ei ~
can Trust Company, and also the disclosures at the
sale OF the assets Of the Commercial Bank, are be-
ginning to create great excitement and feeling II
Wall street and other portions Of the city, very pro-
badly TO provoke war as exteminating and fear
full as that now raging between Wainwright and
Potts in relation to the word of God. In the Ere-
ming Post of last evening we find the following
card from the late President of the North Amer.
can Trust and Banking Company, in which he
speaks with great indignation of the charges made
against him. We believe that Mr. Talmage, SC
far as we can understand, came in at late day to
the Presidency of that institution, and all the
real evils had been perpetrated before his time
We give, therefore, the following exculpation fol
what it is worth, and really trust that none but the
real mismanagers may be amenabe to public opin-
lon:-
TO THE PUBLIC.
stand prepared to defend all and every Of my official
acts either director president Of the North Amer
Trust and Banking Co.. and court the most rigid,
creditors and stockholde and particularly by the two
gentlemen stockholders who were directors Of the board
whom have recently become stockhoder in putting the
interrogatories to Mr. Leavt dictated by party who
desires to answer or have them answered in the
best calculated to further such purposes as he had hoped
to accomplish by them.
not to be inundated from the performance Of my
tors upon the pse dixit Of any set of men, who
deem such course would benefit them on the other
al bs all Od
liquidation of such debts az the legal tribunals shall order
paid from funds in hands The rights Of the two con.
tending parties the creditors and shareholders
in of adjustment before equity courts which
have up his time been contested in the most amcable
manner; and the ruthless attacks Of no man, or set Of
men, or the they may see fit to make through
the public prints, shall deter me from duty assumed
Contrary my wishesD but which was made condition
nv artin wi stockholders
money. These parties taking what three distinguished
members Of the bar Of h: city ayd B. Ogden being
as their opinion COOL and lawful representative
Tor the amount they ssveray advanced. In addition to
Willis Hail. ESQ relative to the creation Of what is call
ed the Yates Trust and the bonds mot post noo to be
issued under it, and the Bank Commissioner Chandler
misdemeanor contrary to the statute why were not
the company prohibited by these functionaries'
II was or 1t was not an infraction OF the law
As this matter is before legal tribunal will not
discuss it this time, but promise hereafter to solve the
question and show most distinctly and clearly hst the
they win rd their temple pulled down upon their
pate and like Simpson, in his rage Kill others Will
show at some future time the causes Of loss to that ns
tuton that the seeds Of its dissolution long
before my connection with President and will satisfy
every candid and unpreudced mind that my adminstra
tion of its affairs oil devoted and eNerted to repair
the waste places to collect and secure s assets and Il
successful in securing s debts and from the depreciation
of it's property and effects not enabled to resusctate the
institution l. pied myself to show depreciation in the
value of the property found in its possession, when
assumed the presidency in October 1870 between that Pc
Rod the middle Of February is4i and the st o. Az
entirely beyond the control OF the then President
and Directors. =,
some otkers will have opportunity Of proving the ale
cations contained in the attack made upon in their
paper Of 18th and 18th instant o, pay the psnaly Of that
which am ready and hope they feel prepared. In the
meantime the creditors and shareholders by calling at
my Office No 90 Pine street. will be informed OF the sin
certify Of the sympathy of these gentlemen and will he
enabled TO make calculation Of the respective loss which
each will sustain Of the funds Of the Institution, loaned
these parties, and will further be enabled to appreciate
their motives which instigated the attacks.
On the first appearance of the statement made by the
Receiver had determined to take notice of the evil
dent studied design produce conviction on the minds Of
that portion Of the public unacquanted with the respec
tive parties that fraud had been committed as am full
ly prepared prove by the largest creditors and share
holders who have examined most minutcly my manage
merit Of that institution that every attempt OF the kind
will he abo rive when the facts before the public
and further desired to avoid newspaper controver
sy but this expac has led to- and been the
of matter conceivable from those who the cha.
rocter Of gentlemen feel hound in self defence, duty
to my children, the station hold in society, my u-
tnre usefulness in life and every consideration dear to the
heart of American citizen to meet the foul caumnator
TO meet the woudbe lion In his den and teach those who
NAV be the conductors of public press that they have
right and will not he sustained by vrtuous public OPT
MON in attempting sacrifice the character Of fellow
citizen The dearest of all my treasures is attacked-my
character hope therefore, to be excused for any appa
rent excitement under which this communication is writ
ten In such theme, however, It's impous to be calm
for he who steals purse steals trash but he who robs
me of my good name takes from that which does not
enrich him. and makes indeed and as thus fore
ed into this contest ny those whose rs christian duty
4" Be your right then go ahead" am content to
stand oral by the transactions ofmy life when justly
hibted the public and fear not the issue and compsr
son for conduct consistency with those who my
accusers at the bar of public ePn opinions .,,.o,
New YoRK, 18th Feb, 1884,
This will only add excitement to the-war. The
other gentlemen implicated in the report, Mr..
Graham and Mr.. John B. Murray, with various
others, cannot remain silent under the present d.
recton of the public mind and particularly is it
necessary for Mr.. Graham, the Postmaster, to ex-
plain his connection fully with this extraordinary
mass of corruption, as he occupies very impor-
tant and very responsible position under the gene
raj government. We do not believe that MIR Ty-
Ter, the President of the United States would, un-
der any circumstances, retain man in office one
hour unless his connection with that institution is
sufficiently explained. Independent Of all personal
matters this war will acquire new excitement from
its becoming IN some respects speculative move
ment as well as personal one The assets Of the
institution may be probably worth one OF two mil
lions Now the great contest is whether the share
holders of that institution shall have these assets, o.
whether they shall have them who possess the OBJ
legations which are assumed to be contrary to law
and which are provided for in the five trusts
| This presents new view of the case, and it will
| therefore be of the prettiest fights between
Greek and Greek, shaver and shavee, financier AM
nancier, capitalist and capitalist rogue and rogue
that we have ever seen.
A LEGACY WANTED.-It seems that Senate
Porter, of Louisiana, has left legacy of $4,000
| or 100000 to Henry Clay. Will not some generou
man take the case of our friend Webb into consi
deraton, and leave him legacy of like amount
He only wants fifty thousand dollars. Will no
John Jacob Astor consider of this desperate pro
position which we make to him upon the part O
Webb! We cannot-we do not expect that Web
will ever get his senses again unless he gets lega
CIV of $50, 600 from somebody or the other.