The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-08-14
ASTOUNDING DISCLOSE RES
CANAL BANK, ALBANY.
From the Albany Knicke rbocker, Aug 12J
The Report Of the spe, ial Agents Of the Canal
Bank.

Bank.
To NJ. FILLMORE, Comptr oller:-
The undersigned, special agents, appointed on the
18th day of July last Ito examine into the affairs of
the Canal Bank, and far lies in their power to
for destruction all the circulating notes Of said
bank then in their pc session and prevent from waste
incorporation any of its funds assets. and
them for the benefit of the creditors Of said
bank most respectfully beg leave present for your
consideration the following abstract of their iuvest
cations =
REpoRr:-That they reluctantly entered on the du-
ties assigned them, with due estimation Of their i'm
portance and deep condition of the accountability
resting upon them, in view of the important and diff
cult trust confded to their investigations.
They did not anticipate at the time of the appoint
ment to the unsought for and undesirable duty, that
they would be called upon investigate any
tons that would conflict with their feelings or in
any bear unfavoraby upon the character and re-
puaton of those who they have been taught to esteem
and respectthose who have been their associates in
business and otherwise and whose honesty and integ
rity they have deemed unimpeachable
Such duties embarrassing and assiduous to dis
charge requiring rmness of purpose, united with the
greatest caution and elaboration 1t has been the
universal opinion and sincerely believed be the
by many individuals in the city, that the funds Of the
nk for period of time have been used for specializing
purposes, and that abuses of criminal and aggravat
ed nature have been perpetrated for number of
years upon the stockholders and creditors of the in
sttuton and now, from the result of the examina-
tiop 1t is most copcuvey demonstrated, that their
worst fears more than realized, and the repeated
insinuations that have to their knowledge de-
scrptye of the illegal practice on the part Of the officers
and directors Of the bank truths and facts and
not the result of imagining or erroneous suspicious
which large portion of this community were interest
ed led to the conclusion that nothing less than
full and thorough in vestigation Of the conduct of
the managers and officers of the bank would in the
least satisfy the public mind do justice to the nno
cent and be the means Of avertng odium and putting
to silence impuaton preudical to the other nstitu
lions of the city.
The special agents, Immediately after their appoint
ment with the and appreciation of the cashier
took of the assets books and then in
the bank, and proceeded in their After
short progress in that examination they became pos
sessed Of evidence sufficient to satisfy them that the
bank insolvent and they deemed it their duty to
make affidavit copy Of which is hereunte xed
setting forth many of the most prominent facts that
had led them to such a conclusion On the 18th of
July the Attorney General applied for and obtained
from the Supreme Court, an Injunction. and subse-
quenty Of the undersigned appointed by Judge
Harris, the receiver.
The special nts in compliance with the direction
given them, secured all the circulating notes then on
hand and preserved the available assets. Hereunto
attached will be found an inventory Of all the pro-
perty OF every description, that has come to their
knowledge, considered as the effects of the bank.
They deemed 1t also ustifable and proper to submit
for your consideration and examination the testimony
OATH with such abstracts from the book Of minutes
tend to show their management in regard to the az
fairs Of the bank
We have attached, also, to this report, among the
documents appended, ltt of the stockholders, with
the amount Of stock owned by EACH and separate
list of that held and owned by the directors together
with the amount of the directors indebtedness and
liabilities to the bank. with the liabilities Of John
Crew. the teller embracing the sum loaned by him to
some Of his reatvvs, and others, together with list
of the officers of the bank at the time the examine
tion commenced.
The following statement embraces the aggregate
amount of the and liabilities the morning
of the 18th Ct July last