New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-02-07

Wehave before stated that the Committee Of the
" Jersey Legislature appointed examine the New Hope
and Delaware Bridge Bank, had been refused to
the books by the Directors The Committee their report
TO the Legislature say
Having failed to obtain information from the officers the
Committee proceeded 70 obtain information By the exam
nston Of persons under oath the result Of which has
tAblished the FOL owing facts.
Only two dividends have been declared since the
1870 and since tat year they have suspended ment
and failed 20 redeem notes. at four different times, ana
- each failure the community has sustained loss from
the depreciation They stopped pa nsnt on zoe ON
December last and their notes selling AZ . per cent
scount; and that time they have not redeemed one
II them with seee current notes aud on the <t Jan
0ary lac. they refused, IN one instance to redeem u ~
Of their bills the President stating that the Company had
no good promissory notes 70 redeem them WIN -
The Company has settled with some o. thelr deposit
pun ~ wee foowins the in Deo-bsr
notice writing was served on the President
him call public meeting Of the sioekhoiders and lay
before them statement required by statute but no
meeting was cal ed on the subject
repaired al COS, OF $1,000 and the Company resumed
banking operations within gear and again iaed IN oi<
since which time the Irce snd sales Of stocks have not
exceeded ten dollars per share.
In s 1912 OF the managers was requested at the
instance Of the President rot 70 examine the oks and
the election thereafter he was LETT out Of the man
agernsnt
the President executed 70 John Hocombe OF West Am
we'll Hunterdon County, mortgage upon the bridge p
20 secure payment OF pong o d tns so,sd 10, The
payment of 0OO with interest Feb lst next ensu-
that tor prncpa and interest
deposits made By him different times within four or
FIVE years which deposits were made By agreement that
be should receive interest
On the 27h jan last the President executed to Elisha
Holcombe Of the same township, bond and mortgage
for : 826
Previous TO the failure in 1872 and their
Of banking operations they have allowed interest," on
some OF the deposits and the amount upon which interest
allowed was s2pOo0 - -.
In 1885 the capital OF the Company was increased 70
500 ono aud Nv the annual statement 70 the Legsa
turs Han 1910 the capital amounted 10 s4lnOyl. II
enable the Company 10 establish Bank
in Phi ado phia which done and Cashier appointed
and notes Issued and Banking operations carried on
from 1895 1887 bat TO what extent HE COMMITTEE are
not Informed.
In 833 the Company made a contract with the Colum
bus Insurance Co. in Ohio TO oan them $500 GOT bank
notes Of the Company for circulation IN Ohio, and such
farther amounts from time 20 time should be agreed
upon and the aggregate Of loans to Jan 632 was up
w.ra Of $4,000 For the Of these notes the
Company were 10 pay per cent interest snnum and
guarantee the Bank against their redemption Of the bills
hat bv the terms Of The contract the bis thus loaned
were 10 with the letter w written their face
The receipts the Bridge have not paid the cost Of
the building rebuilding repairing So and the Interest On
their debt.
There long debate upon the report IN the course
Of which Mr. Strong, Of the Committee, said that
AGENTS Of the Company had not yet ceased Issuing
notes. an agent in NewY ork is selling them for q cents
on the dollar to persons who deal IN them speculation
The whole subj, finally referred 10 the same Com
mee with instructions TO inquire az 20 the expedency
oftskins away the banking powers Of the Company