New-York daily tribune., 1849-04-26
CANAL BANK EXPOSE.
RECEIVER NEW REPORT.

Assembly Of which the following IS copy, re-
ports:
STATE or Hfw.YoRg. ix AtsExrly, NsrchH,ls45.
Rss0'red That Ardrcw Whit Receiver RI the Ca
nsl Bauk furnish for The use of the Assembly sworn
co.es Of petitions ssdsvits and stpulations AMI all
other pspers used before the Jesces u the supreme
Court On the application 20 compromise NE "a
b. ties Of Edwin CrosRal Daniel X Osborn. John !
Crew. Edward Artcher Albert Gallup Richard -che.L
Ira Harris David Goodrich, Leonard d. shaw. iishA
\. PrtL L Lyon. Albany Glass Company, J.. T. Zen
nett, NJ / Joy and John Keyei Pai--, and also with
statement Of what the debts and liabilities II each ~
the before mentioned persons consisted, and "nsi So
CURLY Il any the Bank held therefor and the of
such parties what amount Of the sumo paid theloon
was paid in Cans Bank bls and what security "a b.
for the secured 90 De PAID By each Of tns persons
b,iore mentioned, WITH copies Of all Judicial orders
The Canal Bank OF Albany failed 70 meet its
liabilities on tie IN day of July l-i- a. which
time the undersigned wss appointed one Of tie
a-cnts by the Controller, 90 take charge OF and
preserve its assets from misappropnation and
subsequently, on the 18th day Of the game moath
vas appointed, by one Of the Justices Of the Su-
preme Court. the Receiver Of tie personal estate
and effects oi said Bank.
As one OF the agents and the Receiver, tnc FIRST
six weeks were devoted % collecting the assets
Of the bank together, and preparing the necessary
report Tor the Controllers Office and since that
PERIOD tl IhAuhil lAhlf iL aI-htiA+ tut llh"4tl'e
and perecling tie inventory. whica ms been de
posted with the Clerk oi the County OF Albany.
Immediately after the Legislature had con-
vened a " Select C0nmu'cc OF toe Senate was
appointed 70 examine into and report the causes
of the failure Of the bank. And during the time
that committee was engaged in their examination,
resolution was passed by your honorable body,
calling for the names OF the individuals with whom
settlements had been made and compromises ei-
icctcd.
After that report had been made and presented.
another aud similar resolution, calling Tor much OF
tie Information contained in the report or the s.
icct COMMITTEE Of the Senate, which was also pre-
sented and passed. And during the preparation
of this report another resolution was passed, re-
curing the amount paid Tor costs DO suits and
counsel fees. since the year il.
The entire assets of the Canal 3 ank az the time
OF my appointment amounted to one 'aMi'1 AMI
.sr,ufg-one ftorand doliays nearly one hundred
thousand dollars SIS than the liabilities Already
large amount of The assets have been collected
being more than sufficient TO pay s'Ifg per ccHt on
the entire circulation Sle2 O01I beside sufficient
sum has been secured and Will be paid previous
to next september, % redeem any balance there
NAV BE- then due on the circulating bills. And at
some distant day It is hoped q respectable dvi-
dend will be made TO the depositors
The report of the Select COMMITTEE of he Sen0'G
which was also ordered printed by the Assembly,
contains important errors, which u IS but just
O. correct one OF the most prominent Is contnin-
"a i'm nv reported testimony before that commit
tee. Il is not necessary now To inquire whether
II was inaccuratelv Transcribed or whether ] was
impenectly understood by the committee. In the
testimony as printed, am made u say that Judee e
Harris gave al order tO compromise Crew debi,
when his own check for : 900 formed part OF
tie indebtedness. This Will be found incorrect,
and is satsfactory explained by referring t. state
ment No ! OF this Report where II wll be OBJ
served that the check for $1,000 was included IN
Judre Harriss own debt, and adjusted In the set
| Element with hun.
Itis To be regretted that tins important error
was made inasmuch as that item OF ms indebted
ness was prominently alluded 10 by one OF the
speakers at the late pubic meeting OF the citizens
at the city Hall relative 10 the affairs Of the Can
| al Bank 1t IS also stated IN my testimony that
| Jadge Harris was the endorscr on crew paper,
and on his bond. This should have been qua. ed
bv the statement Of the fact, that hIs endorsements
! were only on tr0 Slc tNhafcd d9ildr H0','' made
| hv John I Crew, and that Crews bond was given
| more than ten years since when he was dpco1ni
| ,,rt and before his appointment as teller In the
compromsc made with Crew the bond was not
| Cancelled, but is still In force Since sucn Sreai
un,oretv has been given 90 all the incidents and
| facts connected with the failure OF this Bank TIE
| nub.ic have 4 right 10 know IN what manner us
| debts have been adjusted and what security cred
| t,rs may feel iur the ultimate payment oi Their
| demands against sad Bank Believing that the
dissemination of the facts contained IN this report
,vculd tend to ailay excitement and restore bet
ter feeling IL the community, large clrcuIs'lon o'
| its contents is respectfully suggested lmas ma! !
suspicions and unexplained exaggcrations OF iact
are the materials which feed the flames OF excite
| meut and give force 10 the whirlw md OF popular
agitation. bat when tie reality plainly portray ed
| the Judgment Is no longer controlled by mscon-
rsiysd faucies nor suffered 10 run into Wild spoca-
! lstons aud uniounded suspicious There are lac's
enough IN the revelation connected win thls gre AZ
fraud which can neitl CT be ganssyed Or rrelGted 10
bring odium and disgrace on the guilty parties
without any distortion or oycr-colorns. E"ousu
| is already spread before the community 70 crafty
the taste of the most malignant Or satlate the ai
| petite OF the most res ugeiu
| 10 regard 10 tie various compromises and set-
Elements with the debtors OF the Bank, It may WIZ
the utmost proprety be stated tha' tney were a.
wavs made independently, ami In 10 case hss tie
the discretionary power gwen by the Court been
| transcribed
In the arrangement and settlement OF 50 large Q
nsrtios of these debts il was not 20 be presumed
| that entire or even general Satisfaction could oe
given. nor objections offered by sell constituted
judges nor is Il singular that those wno trans
| form the ordinary daily occurrences INTO p'l'lca
capital could exercise So great selidenia as mol
10 use this pubic calamity, fruitful and 50 pro
pitious u their immediste benefit and interest.
| It's with satisfaction that we look back a. ev
erv transaction aud settlement made since our CON
nection with this ohce. We are also happy u
being able 20 refer t. some Of the largest creditors
of the Bank for oit-repeated manifestations OF aP
probation NJ our humble efforts and n many cases
when their cooperation was desired, the matter
was lsit 70 our own Judgment and discretion.
This resolution calling tor iniormsnon' i VIII be
seen embraces the names and accounts oi ! ; firms
and Individuals largely indebted 10 the Bank and
requires srora copies Of Pett.9Hs an rdar,,s, sfig
lstlors. and ether pGpers rsif before the Justices
of the Sapreme Court. and beside. "a stdfsDe - q
ne aeb,s and liabilities also including " r-a
amount ras pad thereon a. Cana! BaAA g'lis' 70
gether rid cop.as of aH aiiciai orders
The papers referred % 10 this resolution must
contain nearly al the particulars IN relation 70 the
different settlements and compromises, bat mus
leave uaexp planned many things that canno; AZ ta!'
time nor in tbis report. be made public. II ihis
matter is 70 be detailed and made public, II VI
| he but iastice 70 the parties that all the parIlcu
Is-s ana facts should be given, and shA.l occupy
lint e brief space in this report IN detAiiing sac
sviSenre and facts as cannot appear tom the doo
| ,n,c,tar, part Of these papers.
| Elisha n Pratt. one OF the individuals named u
the resolutions. was indebted % the Canal Bans
| - 80; for which the Bank held his three se'sfa
notes. one in the hands Of Pepcon. hoiman q IeI
R-osck of the Citv Of New-lork, a. coiatetai Sc
| e. e.t -, fh.a Mnrhauies' and arm