The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-11-27
QUA HOME CoRRRsP0HDRWCR.
The Peoples Bank OF New jersey.
TO THE EDITOR OF THE HERALD.


TO THE EDITOR OF THE HERALD.
PATERSON, N. j., Nov. Is, 1851.
meeting was called, last week, at the Pssssic
Hotel, to take into confederation the affair of the
exploded bank in this place. The call was respond
ed to by over Eve hundred of the bone and sinew OF
this town, many Of whom have lost their little al
by the failure Of the institution, Speeches were
made by Mesns. Allen, Winters, and other promi-
nent gentlemen of the tswn, showing up the whole.
sale robbery which has been committed on them
A committee of twenty.one was appointed to prose-
cute the presiding genius, who, for the last ten
years, has 50 faithfully guarded the funds that
when called upon they are "mo~ est;' and last
night, at quarter to twelve o'clock, Henry e.
Stmson, Esq, cashier, was arrested on charge OF
embesslement, and taken before Andrew Mead.
ESQ, who held him to bail in $1,000, to appear and
answer. He was suffered to 60 in charge Of an Off.
cor to procure bail, and at two o'clock this morning
he entered into recognizance, and was discharged
This is but the beginning of the end; further de-
velopements will astonish the community in few
days.
break to the bank when he found it was going down
hill one would have supposed that past experience
would have taught him that. c.
Correspondence of the Newark Daily Advertiser
PATrRsoN, November "a, 1851.
large meeting Of the citizens and creditors of the
evening the list Instant pursuant to cali for the pur
Of considering the made by the receivers Of
said bank and to take such measures as may be eon.
dered best for the interest Of the creditors OF the bank
Philip Rafferty,, chairman, and Ne Craze, secretary,
from H. O. stimson the cashier and directors,
the amount OF money appropriated to his own and the
use OF others, belonging TO said bank
A following
appointed to draft resolutions expressive OF the sense Of
Joseph G. Todd, John Chadwick, Patrick Agnew, John
johnson, John Winters.
The Committee retired, and shortly after returned
Upon examination, we find that II. @. stimson Cash
er Of the Peoples Bank Of Paterson has taken from the
report Of the Receivers without the knowledge
of the Board Of Directors, alleged by Of
further sum Of sisSs H. Without the knowisdse and
consent Of said Board Of Directors and has distributed
this last amount in the hands Of his partners in business
and family relations and friends without endorsement
security for the evidently having upon the face
Of these transactions wul and corrupt intention TO
defaud the stockholders and creditors Of the Peoples
Bank of Paterson In view Of this wholesale robbery aud
plumber thereby bringing in its train poverty and dis
disgrace upon the institutions Of our city and our State
your committee beg leave to recommend the appoint
ment Of permanent committee TO consist OF twenty
approved OF BY this meeting whose duty 1t shall be to
make dligent and strict investigations into all the acts
persons connected with them either Of them; and
they either Of them refuse to place In the hands Of
the Receivers Of said bark the funds property
unlswfuly taken by them Of said bank, upon such
refusal them and in that the committee to be ia
truced by this meeting TO take such legal measures in
the premises to bring the guilty TO to the Laws Of
the State Of New Jersey according to the statutes male
and provided for in this case and that the committee
may receive funds from any person to carry
out the wishes declared by this meeting and to report st
such time or times and place as majority may deem
proper Also TO ell all vacancies in the committee that
may occur.
The above report was UNANIMOUSLY accepted by the
meeting
The Chairman then named the following gentlemen 70
act as Permanent Commute Of Investigation:-
Peter Adams, John j. Winters,
II. b. Crosby, Joseph Smith Manchester,
William Croesett, Joseph @. Goldsmith,
L. r. PraI, James Kerbhaw,
J. @. Todd Benjamin Crane,
John Chadwick, Isaac Van BlarcoIa,
Jacob Hopper, d. X. Allen,
O. H. Wees, James Stiles,
james Dunn, Andrew Meade,
G. Colt Jr, VIM. II. Thompson,
John 6. Fsyerweather.
II motion resolved, that the above named gs1-
tlemen be unanimously accepted BY this meeting.
NON motion resolved that the proceedings OF this meet
ing lie signed by the Secretary and published BY the
mittse in such papers - they think proper.
p. RAFFERTY,, Chairman.
BENJAMIN CRANE, Secretary.