Iowa territorial gazette and advertiser. [volume] (Burlington, Iowa Territory [Iowa]) 1840-1846, 1844-03-09
Moar BANK ExrLe,ross-A LESSON TO THE

MoRE BANK ExPLesIoNs-A LESSON TO THE
FRIENDS OF THE DUBUQUE BANK.-The North
American Trust + Banking Company, a. is
known, failed sometime since, and its affairs was
put by the Chancellor into the hands Of Reciev-
er, for Investigation and settlement. From re-
port of the Receiver it appears that the capitol
never exceeded 900 and that it, affairs
were conducted on similar plan to that of the
wildcat institutions of Michigan. 1t appears
that an agent sent to London on business con-
nected with the bank, charged $4,000 for his
services; that the attorneys received $4,000 for
their services in drawing papers &C.; that all
Winds of trash was received as security for money
loaned, and tn all the bank had to deliver up to
the Receiver, Was few chairs and desks and one
imperfect specie dollar.
The following are the characters of some ofthe
conspicuous personages who figured in the con-
Germs Of the bank, as given by an exchange pa
per:
r. M. Blatchford is the son of a respectable
clergyman Of Lansinburg, New York; is prac-
Using lawyer in the city Of New York; was
tool Of Biddle in all his United States Bank oper-
ations; went to Europe as United States Bank
agent; came back as agent and attorney for the
/ Bank Of England, and also United States Bank
attorney in the city Of New York; was Governor
Stewards adviser; was q participator in all the
celebrated pipelaying election frauds Of 1888, in
the city Of New York. This is the man who ad-
mitted in his examination, before the recorders
! court, in the city of New York, in $780, that he
was one who furnished James B. Glentworth
money to carry out the whig plans Of that year;
and in Philadelphia, before the same court, il as
proved that he gave his check for $25 to one Of
the ppelaying gang from Philadelphia, when he
called upon him (Blatchford) after his release
from prison, where he had been after his arrest
for illegal voting at the election, in New York, in
1888 The name ofthe pipelaysr was Hart Marx;
and the witness who proved the fact, was Gusta-
vus Pearson. He is coon.
J Thomas E. Davis, speculator in all kinds of
property, commenced operations in New York,
In 1928; building houses, and paying mechanics
part cash, part dry goods and groceries, at high
prices-the goods purchased by him at auction
and the balance in bond and mortgage. Before
the bubble burst, he was considered worth mil
lions, and built marble palace for country seat,
said to have cost some $4,000. He woulG be q
poor man if his debts were paid.
John L. Graham has ever been 4 Speculation in
law, politics, money, stocks, houses, land, fog
lots, SC. The community in which he lived
never had any confidence in him. His marriage
Will daughter Oh wealthy merchant, whose
property was secured to her, gave him conse-
quence and entrance into society that enabled
him, together with his unparalleled efrontery, to
make his way and become manager among cor
rupt politicians; and, in the rage for hank char
tiers in the State Of New York, he and his tools
managed to get large share of stock in almost
every new bank, by which means some one oil
the numerous family was made either director,
notary, attorney, or counsel; and it is fact re-
marked by those acquainted with the circum-
stances, that almost every moneyed institution in
which he and his crew have had any control has
become insolvent, and deirauded the widow and
the orphan of thousands Of dollars. His appoint
ment as postmaster at New York was matter OF
amazement to every man in New York who was
acquainted with his character; and it is a fact
perfectly notorious that good and competent men
have been removed from the post office to give
place to parcel of boys-the Graham boys and
their friends. He has been in politics conserva-
tive, Harrison-m man, and full-bloeded coon; and
he will be any mans man that he can make money
out Of He was North American Banking
Company man to the tune Of SAL 900, for profes-
slonal services.