The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-03-14

Those interested in the affairs Of this nstita
win find the above comp srative ststemsat very en-
Pertaining. A period Of about Eve years intervenes
between this last two reports, within which tine the
profit and lose sccount and the amount Of liabilities,
have increased very largely. The losses ohargeable
to the contingent fund have incre1si $l44o,4is.
Loans in Europe and Interest sl,f42 100 We cannot
make out by ttse returns that any progress has bssn
made in quidstins the affairs Of tho concern that
the trustees sny winding up the institu-
ton, than they five years sgo. The stockholders
sppsar to be pretty we'll Of this and for the
purpose preventing the expenditure Of the assets OF
the bank to q much greater extent, in the shape Of
esares to the trustees and their clerks have petit
toned to the Legislature Of Pennsyvssia for the pas
sage Of Q bill compelling the trutees to close ths
affairs Of the concern within . certain period. This
application the trustees have opposed, and have made
such represe nations to The Legislature may defeat
the object the stockholders have in view This Is no
than might have been expected o. 10 for the
interest Of the trustees to keep the Affairs Of the bank
open and unsettled long possible that they may
enjoy the exorbitant salaries voted themselves at the
Cine the ASST nne nts made.
The a.sg to which the bill before the Legsls-
turs particularly rs ,tes made the 4th aud 9th
September ls4 and intended for the protection
Of tic q. neral creditors Of the bank The assignment
was made to the president cashier, and clerk Of tho
bank sHd two other Individuals. The president Jas.
gobsrtsoa made the asrignm to himcsh and his
Brother officers, fixing in It his salary at 81 900
DER apuun,, Mr. Tayore the cashier 1T the same and
the rect ct ST per spnum making aggregate for
salaries Of $l250O per These self made trus-
tees have seady received up wards Of 500 600 In the
shape Of salaries. nd in fair way Of receiving
much before they lot 60 their hold upon the
sets ofhe bank. Independent Of the salaries Of these
true there have been paid fees to counsel In Phila
Jslphis, and ether expenses not enumerated, moro
than $4,000 mailing an aggregate Of $ato 600 And
for what! Merely for the collection OF little more
than one million dolss Of the debts due the bank.
Thus far 1t appears isson Of at i've
mar cent has been paid upon the collections made
Asr this assignment The value Of assets Included In
tkie assign pent sboas afteen millions Of dollars
the collection OF which, ut com mission II two and
hs per cent wouidhsvs cost tho bank three hundred
and seventy Eve thousand dollars that wif every dol
ar Of the asse at their valuation had been 70 slizsi
ln,tesd of as We End that the collection Of about
million Of doliars fifteenth part Of the aggrs
gate hes cost the bank than one half OF the sum
the trustees would have been entitled to In the shape
of commissions had they settled all the al Hrs Of the
concern This las bad a. It icy is not the only
evil resulting from the present state Of things.
Had tho trustees depended upon . commission on
,eo tons for remuneration for their services the
alignment would have been closed long ago. and tn.
itors tbs Institution hav- bad their claims quidst
cd 90 far the e"e,s " the would warrant
when IL is CONSIDERED thst the p-iuopal Trustees of
this aseep the Individuals who were tbs pri
Opel cause of the bankruptcy Of the bank Who were
in the ma AgepeLt Mt The time 10 b-cams engaged In
the operatioue which resuted In lite explosion the
courss pursued by them stpco tbs property Of those
hoes co d they betrayed iuto their hans
4, su induce the Legislature to take than
hand and take from them the trust shsy nave much
sbueed II Is due the character Of tho State that
-uch system II extortion b. repudtated, and trust
suoh measures ~i BE- adopted will expedite tho H.
udaon Of the affairs Of that and speedily
lta anti