The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-07-07


as she is tardy in her progress, does she deal
heavier blow to the guilty in the end Tempted
by the IMMUNITY given to the Plainfeld fnanciers
other operators have followed suit; some Of them
have been caught ia the meshes of the law,
and sentence has been passed upon them. Har-
vey Dayton, Cashier Of the State Bank at
Morris, was sentenced on Thursday, by the Sup
reme Court, at Trenton, to a fine Of $500
for perjury, in swearing false affidavit, that said
bank had bona fde cash capital Of $40 900, when
the securities upon which the oath was based were
fictitious, and the men whose names were alta ched
to the a were men Of straw. The punishment is
extremely light, considering that he got his own
5000 check out Of the bank, and many thousands
Of dollars more were realized by the operation.
But it must not be forgotten that the conviction
was the first one for such an offence, and that the
convict was a subordinate officer, and acted under
the direction Of others. Lambert Norton, who
occupied the highest position In the bank-being
both q director and the president-is to be tried
for the same offence in September, and it remains
to be seen how he will be dealt with. Some Of the
operators in the State Bank at Morris, are still
unwhipped Of justice, who ought to be placed at
the bar side by side with him, for subornation Of
perjury. II appears that the confidence man"-the
One. eye of all these financial operators-E. A
Thompson, has come out in a letter in Cincinnati
paper, denying that he is more than an agent in
the matter, and telling the editors and the rest Of
mankind that he is q very i'll used man-that he
was working merely for pay, and doing the bidding
of his employers His letter is follows; and if it be
a correct version of the affair, there other par
ties behind the curtain who ought to be brought
tho " ia IN ha tod hat no vrifar did
not give their names, pro bono lr1Xico, that We
might see whether there was a Beach among them.
His letter is as follows
(For the Cincinnati Gazette
MrssRs EDiToRs:-ln your notice of the New Jersey
bank trials in your paper Of the 26th you connect me
with the failure Of the Morris County Bank well as Of
the State Eank at Morris. In this you mistaken
have never had any connection whatever with the first
named bank. nor has 1t ever failed.
In relation TO the State Bank at the instance of some
of my friends, have word to say About two years
sgo was employed to negotiate for the purchase OF
crity Of the stock Of this bank. went TO New York
for that purpose under the pay of my employers, and
through he agency of New York broker completed the
purchase Of majority Of the stock. The money and
eurtes for that purpose put into hands by the
purchasing parties. did not advance dollar myself,
and the stock was all transit red to me for the time
being, for convenience only, to be by me Afterwards
transferred to the pur chasing parties know that
act, honestly and in good fatn in the matter, and
believe the parties for whom the purchase was made IN
tended to act honestly ia the matter and think the
following facts prove it, The purchase was made in
August ls49-the failure OF the bank was about first
November, lS49 During all this time the credit
of the bank good ito notes being bankabe in all
the banks OF New York and elsewhere and If there had
been intention to defraUd the public IL would have
been easy matter to have put one OF two hun
dred thousand dollars afoat the community and to
have pockeed the proceeds while the facts show that
when the bank failed the actual circulation less than
SIS tOoaBd the Assets Of the bank since converted by
the receivers will redeem this in fun 50 that the bill
holders viii lose nothing admit that, at the time Of
the failure there than slj 600 Of notes out Of
the bank, but they not in circulation, and
returned to the bank after its failure and these notes
not in circulation because the owners If the bank
we're anxious to sustain its credit and were cautious
about pay ing them out.
The bank having failed before had transferred the
stock to the purchasers the opprobum Of the failure in
q fails This | shall bear in silence. be-
ing .cous that intended injury to my fellow
usn citizen Of Cncinnati-I expect to live and
die here; and have family here that shall try to
support
other papers will not among thoee who know
me- although they are calculated and doubtless will,
create a prejudice among others don't exactly
Why the Of city thous and miles of should take
so much interest In broken bank, especially
Of s money ever here and none Of citizens
injured by it. Il. A. THOMPSON.
Probably his partner, NJ. A. Bradley, who, in his
own proper person, was president, cashier, and
directors of the Phoenix Bank at Cincinnati, will
also shift the responsibility from his own shoulders
to some "great unknown" II he succeed in doing
this satisfactorily, it will afford a new phase to
NJ aHcNIbB VftIaiVus, WoIthy VI Tic dtteutiou VI
the public As at present advised, the mode Of do
ing business is this rotten, tottering bank is pur-
chased by worthless doubtful securities. Bills
struck of al infnitun, and scattered in the west,
and when much Of the paper Is can be disposed of
is thus sent abroad far and wide, and suspicion
falls upon the bank, and Is made, il is either
let down, and the public robbed, or it is bostered
up for a short time by the redemption Of its
Issues, with notes Of bank as ricketty as itself,
while the Lingering existence Of the latter il pro-
longed in turn by the notes of the former, both
playing into each others hands. IL was thus with
the State Bank at Morris, the Susquehannah and
the Phoenix banks; and il was the intention, as ap
pears from the evidence, to play the same game
with the Oxford and Phoenix banks, by pur-
ehasing the controlling interest Of the former; and
after making fortune by issuing its bills in unl-
mtsd quantities thsn falling pcrhapst to the amount
Of half n million Of dollars. What high game
the lnanciers Of the West pisyed is pretty
evident from the fact Of Hobart demanding $4,000
for his mere services as an agent in sfecting the
arrangement, and nting last " take 800
The game. however, was lost, partly because those
" ho played it false to each other, aud partly
because Of Yankee shrewdness, which discovered
not the genuine article, and that there was come
thing rotten in Denmark" Having faded in the
joint operation, the parties operate against each
other; and If we are TO believe them all, each is
consummate shaver, and n rogue of the first water.
Whether they al telling the truth, or. if not,
which Of them, remains to be sees by the result.
We tball shortly furnish readers with richer
Developments than any they have yet seen.
In conclusion, we have again to call upon the
proper authorities to bring the Plainfeld fnancies
10 justice, and slso the operators in the Maryland
swindL. IL il upon these, that the Law ought 10
deal cut its heaviest yer geance, making them a
signal example, and ga terror 10 evil ioers " al
over the land.
1iIE AS'ERsCAS NEWSPAPER Pass ~ LONDON
A commrnieatiCn recetdly appeared in the London
g1os, the subject sI the American contributions
10 the Worlds Fair ia London, in which the writer
al "a sreak ndinoiv az the Amari-