New-York daily tribune., 1849-04-26

I by + lsha =. Erltt, during the a. ID l-4T. TIE
money o. ru-chsse the stock o. his Bank y as
| loarei O. NJ pratt bf tie Cana Bsrk md as the
bdoks 9. o-v. was paid ia the Sy~n- Of I-t. when
! H. became t1e = lis n.0le.al lpers-lous < .:h
| tie Bauk srorsr @, lssa been transacted .n
/ business manner. and i k1uW OF nothing that
/ should tarAlsh ns .equtat'an an. sni place uim be-
IRE the pubic 1ther than as sn h1nes. nlan
The iebt Of Leonard D. shaw. .1r 3 500 -.
was co-nr-urn .sed for ..f a-. " Shaw IS
limited capital Edward Ar.che-. one o. the di-
-ectors OF the Cana Bank. had been h.s special
partner to the amount of 5000. The Cana Bank
/ ne.i tie notes g Mr. Shaw TOR the amount as,
stated br, NJ shaw ret1sed g make payment
-0r the reason that the notes wee loaned O. the
Canal Bank bv Nr. Ar,cter, and NJ shaw hal no.
received any .1i-a.eat. s--t was commence.
[ b-t before i1f-mcu; vas obtained COMPROMISE
wss ef-c cted
Tie debt due from Ia Harris. iiulI lie seen
ir1m statement numbered b.. amounts il tbe a-rre-
gate o. ~a-ll g.. This Indebtedness was also
camrronaised by an order from Judge Watson.
upon the 4 .0rgi.- terms. which the petition here-
unto annexed w.l. more fully explain.
THIS debt was Lot coupr0mlsed BY Judge Hsr
rs but was p--chssed At the p-irs and upos the
terms a-rced upon by :. o. Sheppard Es OF ths
city. TIE amouot secured Tor the entire lndebt-
e. Iress was g. .lJD --, Of tbs sum .ON vas So
cured iv : 3D. olephlfds notes, endorsed sld
.
first dav of Aa-ust l-i4, I'D the balance or 50
orf vas proceeds Of sales 0i stocks ana bi., 90
costa and counsel fees AGAINST the Canal Bank.
The loss. independent o. the interest then acc1-
INFLATED 1.-THE tlne OF sett ement, WILDE >l,to3 .'
Tie next settlement. os Will appear statement
No. flo annexed % tAis report. was made y % Joy
and Wcbster ths cndorssr, ~ Niles and Lewis
JOYS uaper. of Bl..a'r amounting g. about ,. l.
IT,. Nessrs. joys contracted this debt ai the t.ne
they were engaged iu the forwarding business In
tbs citr and prevous 20 their removal % Buffalo.
Their liability consisted oi notes. endorsed by Joy
and Wcbstc-. ot Blia.o. amounting 10 sl50"l.
aud a ledrer account cr over-drnit oi -','i' 'n,
making together, iao.lelg interest -i- % en-.
For that part oi thc.- liability enfo-sct by Joy
and Webster endorsed notes AID collateral secirl-
tv have been received. the Onc-eighth part oi
which F.. payable every SIX months 'Jr tie BAL
ance five notes n. and L.Joy are held ior 1000
each payable aunuay sitter tie B., On day oi Octo-
ber i- and one i0r : 100 lt payable ON tie
2-th tav of October. --i this would leave due
balance OF ,n6i -o, i0r which check, dawn by
the President l. the Walter JOY Bank on hs de-
posi-. ia the Canal Bank, Is held, and which vii
be- entitled 10 any dividend hereafter made by tie
Receiver.
The compromise OF Richard Schell was ior
dra.t Of Ho. drawn b. Edwin C-oswei and a.
ceoted by Mr.. ScleA, aud discounted by tie Canal
Bank. Mr. Sch-. IS a broker IN the City o. Ncw-
York snd now claims o. be unable g. pay bis debts.
a suit was commenced and judgment obtained by
default, and subsequently W were informed that
be had made an assignment TO secure his conhden.
ual creditors. 4 negotiation was then entered
into Tor a compromise, and from Information OBJ
tained IN relation % his property and ability 10 pay
this debt We were satIs ned that It was proper 10
make an effort 10 secure at least part aud tor
that purpose have taken his notes tor ~ ,2jD,
llnakinr tor the debt -. jO1) payable IN SIX and
twelve months from the date oi the ettlemeut,
retaining the original draft as collateral security
until the said notes were paid An order tor TINS
settlement was also obtained from one OF the
Judges of the Supreme Court.
The llabiHty of Albert Gallup viii be ipund- IN
statement $40. p, hereuuto snucNed, amounting on
| the flth lav OF July. l-i-. 90 -il,5li %. THIS
debt was compromised By Mr.. Gallup, securing
S063l A.. which makes a loss Il -i.'l' &c. For
| the amount secured the Receiver holds bond and
mortgoge on property IA Buffalo, Tor $4,000. and
one other small mortgage onproperty ~ tnis Ooun-
T., beside cash payment Of $500 made at the
time Of settlement.
Tie statement No n. attached To- this report
show the liabilities of Ezra b. Bennett and
| Artcher & Bennett, which We're settled by Mr
| Bennett ss therein detailed. The firm OF Artcher
| X Bennett was indebted 10 the Canal bnnA at
the time of IT'S failure for principal and interest,
| about p 600. ior which there has been received
! n money and endorsed notes over . 300 making
| n loss from this compromise OF little more than
| 81 800 The N. ArtchCr, of the firm oi Artcher& AZ
| Bennett, was one OF the Directors OF the Canal
| Bank aud was one OF the makers of the bond
| given 10 the state for the Canal deposits. Mr..
! Bennett had been unfortunate in bis business,
previous to the failure of the Canal Bank, and was
compelled to ask from those to whom he was in
deb.cd an extension OF time on his pay monts then
| due. part Of Mr. BENEFITS present indebted
! cdness Is secured by good cutOrsers. and part
bv bond and mortgage on farm In Cnautauque
| County. The ultimate payment OF this demand
cannot be questioned.
The Indebtedness of Lyman r. Lyon, President
Of the Lewis County Bank as exhibited by state
mcnt No.. was for three notes amounting % sI',
i-f 80 which not became due on the 10Th day
! oi October. i-. The Canal Bank held as colat-
crai security Tor the payment OF those notes hIee
! lrn4r,i and NIrD-Htuc shines o. tie capitoi
stock % the Lewis Comfy Bank. the par value
oi which IS slG,9J0. The pay ment o, the 'ot' ;
| above referred g., was resisted on the ground
that there was q lien on the stock deposited with
the Canal Bank when the NOES were discounted
As collateral Tor the hnal payment OF these notes.
or rather the proceeds Of the stock was - be ap-
piled o. the payment a the notes. Nier a legal
| investigation Of all the circumstances, y was
deemed proper to make a settlement by otsettln-
| the amount due the Lewis County Bank, by The
Canal Bank. Si--5 odj on men; By the / e vs.
| County Banh to the Receiver OF -l,Jon IA Canal
Bank bills. which would make an amount elaal
to Lyon three notes held by the Canal Bank
lu connection " tn tnis settlement sac " a.
made TO Lyman Il. Lyon, ESQ OF l.Oo2 shares Of
the capital stock Of the Lewis County Bank THIS
stock was the property Of the Canal Bank at TIE
time of is failure. aud was sold TO him at "hG-
was deemed lar price, '2I cents on the toHar'
The sale Of the stock aad tie difference in me
other settlement. made balance due OF s5o'5--
sd. which sam was secured t. bs paid in January
and June OF the present year. The January pay.
ment has already been made, and i Is expected
that the payment OF $4,000 VIII be made III June
| next when u becomes due.
The individual liability oi John heyes Page
the ls.e President 0l the Ca-al Bank, w4s- Ola the
llth OF July. l,i-, S6,Js3 a.. One Of tue notes
.o-min4 la-.e part Cd. this irdchtedness le3' ''pVI
was deposited previous 20 .ia allure OF ine laLal
Bank. " th the Mechanics All Farmers bauA oi
th. city. IS collateral security on paper tnen dis
counted w ere not informed whether n Is no"
paid. but presume &, is frol. NJ. Pages testino-
ny oven before the : -ecr Committee OF tee sen
| aio. Mr. Page has paid the Receiver 3'5 90
w' ich will l1aye q sma.l portion Q. hs dcot un.
rail. provided the noie az To- Mechanics a1d
Farmers Bank has been nd iustsd-
! Nj Paige j. is bic a's1 on notes amounting tc
about sso.000 ia his individual capacity, gwen by
the Albany Glass. ELaalel aud Forceialn Compa-
nv. of which be was the President. In schedule
a annexed o. this report, will be found an ex-
-t.. ,.,, ,4 lis ffaiiiifips and the manner in.