The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-06-22

called upon and MIR. Wood weeks after the ex-
animation and wanted to correct his statement bat on
consultation we did not think proper after such
Of time the defendant absent the defendant alb
time the depostions were taken and his
request to correct them must have been after his
The depositions Of defendant before the receivers the
2lst November 1872 here read in evidence Iiar-
yey Dayton teses therein that he cashier Of the
bank, from 2sth july. lSla, to Sept g. 1s49 that he
made the affidavit that the bank had bsna tide capita
Of $4,000 which he ascertaned by counting the funds
on hand then in the bank and that those funds consist
ed Of
David sandersOn's check for. or.............so $4,000 90
Harvey Dayton's check. ck................... 0Ooo %
Foreign hin. ie's 90 90
suSquebannah snk bfils s................ 10000 90
Money paid in stock. 3ls6 e6
$4,000 os
After this, few hundred dollsrs more were found;
1 understood Sanderson's check for S3leo was giv.
en- to pay for stock notes that it lent to
Il. A Thompson. and was to 80 to his credit to
psy any stock notes he chose; / considered that
1t was applied to the payment Of stock notes before
made the affidavit. by Of II. A. Thompsons check
for the stock notes think his check given previous
to making the affidavit; that check is entered in r. A.
Thompson acct unit ON the I'D day Of August Sander
sons cheek Tor So l5 passed to the credit of H.
Thomp the 18th August 1919; the bank got San
dersons check for $1,000 IN the same day. few days
after the draft Of the Protection Insur Company
was discounted and the proceeds applied to the pay
men Of these cheeks the president took the checks
o. me drawer ana saa he was going - pay them out;
objected to discountng the draft of the Protection In
snrance Company because did not know about IT. he
told Inc he was going to pay those checks for this
draft which the directors had Just discounted The
vas not in session at this time; did not make any
piant to the directors If the PRESIDENT conduct in d
posing thus Of Sanderons checks; by resolution Of the
board, the president aud directors were Finance
Committee, To make loans and discounts; tue president
said two Of the directors had asscnted the discount
dd not ask which two; of 5andersons check that
Ter $4,000 was certified and for the other e said had
the money lying the bank before made the aRdavit
asked the president II these checks could be considered
cash capital, and he said any bank would consider
them 50; had known Mr.. Norton only n few days;
constituted portion Of the capital Of the bank the
sal way as sanderson's checks did, had known =.
Thompson ony few days. he gave me a memorandum
that the check was borrowed he was recommended
man of property 10y Mr.. Willard Earle, Mr. ssnderson
aud Col VIM, Thompson; understood from them that
they had not been long acquainted with him; my check
was on the Morris County bank and was certified: he
sad he only wanted II short time he said he going
to pay II into the state Bank at Morris; supposed IL
would be used the other checks to make up the
stock Of the bank IL laid in the drawer the bank
received II as cashier; do not think there any
entry made of this or any Of the checks at the time they
Archibald s. Woodruff sworn-I have been cashier Of
the state Eank at Elizabeth snce the middle Of April
last; have been clerk in the bank for twenty years.
was bookkeeper In August 1919; the 10Th August the
balance due David ssnder-on wss S4sT. AMI this
manned the state Of his account for month after his
check of fi was never presented at our bank for pay
ment.
Jacob d yermiyea sworn-I am cashier of the New
ark Banking and Insurance Company have been for
nearly seven years; the 2h August lst9 tho Sus
quehannah bills money that would not receive in
current funds u st discount but don't know hos
much; don't know when the susquehannah Bank failed
Cross. examined.-lt was not custom to receive
any OF the bills Of the country banks Of Pennsyana
New York IL the discount quarter per cent
we refused the bills of the Peoples Bank Mt Patterson
In special cases In the daily business CT the bank
In the habit " considering cheeks cash. when tale
the check Of man on another bank. take 1t his
credit and send 1t to be collected st the first opporu
nifty should not consider any bank notes cash. but
,uch as be redeemed at par; receive uncurren
notes more on deposit than IN paying notes aud dues to
hqh hun ttnE
Dsh Bank on the 10th of August 1872 would not have
taken Of its money deposit neither would take
any of the country banks II Pennsylvania
William o. Steele sworn-I Am cashier OF the Somer-
Vile Bank have been since II went into operation
IN August 1872 certified check for D. sanderson for
StCoO; that check has been presented for pay
ment certified the check upon deposit Of sec curtes
and when the check returned 10 the securities
were TO be given up; 1t was returned TO In three
four days after It certified by ID. sanderson; the
Protection Insurance Company had Office at Somer-
vile; think u is not now in existence | think IL
ceased TO do business about the time the State Bank at
Morris failed am unable TO tell anything about the
,oly.nty credit Of the institution the Office at
horstown but most Of the business was done In New
York
Cross examinedAs security for this certified check
sanders.n lcft with me draft the State Bank at
Elizabeth drawn by Ssndson, AMI endorsed by Eugene
Doughty Mr. Bsres, and another person; think Mr..
sapderson first proposed TO take the bills Of the bank
and that proposed TO him certified check instead;
considered this draft with the names endorsed good
ssnderson was always considered good by MS; " he
bad drawn . check for $1,000 or $1,000 on the bank
when he had money there should have considered
him good but do not think would have paid the check
William N. Wood sworn-T was present at the exami
nation OF Mr. Dayton before the receiver the books
produced are the same those examined at that time
cross-cxamined-At that time the banking house be-
longed to the bank; presume the banking house
un.ncumbered on the 10th of August, lSla 1t worth
1t tina. time 5000 t6OO0i he receivers have sold Il
for $4,000 don't know y. A. Thompson;
him that know of; lid not any Of the stock OF
IN" hank on 10th August. 1870; did not any for
several years before; the estate ~ father
stock there's In the examination. Dayton stated that
IL. hath
Bank
The Court adjourned TIL nest morning
SECOND DAY.
Wrpvrsp,s, June 1851.
Theodore T. Wood, sworn-I the cashier Of the
Morris County Bank have been for ten years. GER
tilted check for Harvey Dayton in August 1sl0 for
Stou1 ~ wac think, before the State Bank resumed
lie operations Mr.. Dayton had nearly 900 Of the
money In tb. Morris County Bank and engaged that the
balance would be deposited before the check should
presented nj the bank he did not deposit any money
securities with me; The check presented for
payment, aud returned TO By Dayton himself some
three u four weeks after IL certified; think IL
after the State Bank resumed business: by the
ment between us the check not t. be prcspled
psid III HE account made good for the amounts the
state Bank stopped business the last week In October
think; would not In August 1919 have received the
bills Of the Suquehannah Bank In deposit to asy
tent In payment Of ducs TO the bank.
Cross- examn, d-fhe notes OF some pennsylvani
banks were received In deposit; took them at dis
count; in cur business receive certified checks
cash receive the checks Of responsible other
mp daily statement count the bills q other banks
even VI ut discount as cash.
Ee.examincd-ln our daily statement call foreign
ts oasb In full without dcducting tho discount make
annual statement 70 tho Lcgislature in that state
M Mt specie funds the coin have hands, cash
fup1s notes "A other han and rhects on other