New-York daily tribune., 1854-07-08
10 Harlem Company and received pa, for Iho nasiSo
home gave Mr. g. credit the purchase upo" 0ond'''o"

home rave Mr. g. acrcdt the purchase, "po"
that the Harlem Company guareneea nv "',ops A'''.
Mr. SCHUYLER accordingly fer-hed hen, VIZ"
duly signed by the sccsoarg and fresaehl % "' n''
purpcrtirg 10 be copy Of a 'e'o'''" u ''o %
n...,s.;,g ,be purchase money which resolution tho
80 '~.s h..,i Of Two Of tho notes daily paid
- a,,.~ ut the third fell due last Saturday and
a. a;.honorcd The pretended guarantee was then
fx.rd by the holder Of the note and the expo
..,. AZ this fraud was made.
II ,,rard to the whereabouts of Mr.. Schuyler there s
inch doubt e, Mr.. George Schuyler is understood to
Nave seid that his brother has left town, and gentleman
Who lives near Mr.. Robt Schuylers reports that he
him driven away from his house on Wednesday morning
early in hack. On the contrary, Nrs Schuyler wrote
pste to-day member of the Harlem Direction, stating
at her husband i'll to leave his bed any
one on business The anos, universal impression that
he has gone 10 Canada.
The Directors Of the New-Haven Roed are engaged ia
tho ough examination Of the affairs of that Corporation
from the Of the enterprise, and wheo
p ted they win probably publish full report Of its con
dion They have advertised for stockholders TO send in
Oh. number of shares and tho number Of the certificates
held b, each In order facilitate the examination. They
Mink however that tho worst is already known.
II 10 very evident that before public confidence
be fully restored there must be system Of checks
srganxed under which such frauds the ast days
have exposed will be ONE impossible. Such system
doubtless be devised ond included mast be fre-
quen and careful supervision of e Of the vs
corporations by Committees Of the Directors Had
the Directors of the Harlem and New Haven Companies
made careful weekly examination Of the transfer book
and certificate book and stock ledsers of those Roads,
the frauds Of Mess Schuyler and e would have been
rendered impossible Tne fret oiense would have been
discovered II is all important that the officers
Of corporations should feel that their acts are closely
seemed and thai is impossible that fraud can escape
early detection. Whatever system OF checks may be
adopted wc should consider il incomplete unless it in
ciuded strict and frequent investigation by a Com
mitee Of the Directors.
The system adopted by Messrs. Duncan Sherman &
Co. an trantr agents Of the NewYork Central Road ap
pears to be calculated to render illegal issues almost u
possible. Tho certificates issuing from the New-fork
Office are signed at Albany by the President ana Treas
Of the Company, and are tben when issued here,
coaniersig,ed by Messrs. Duncan Sherman 81 Co. and
their transfer clerk Mr. Bell Previous to countersgn-
ing any certificates Mr.. Duncan or Mr. Sherman has
placed before him. recorded in book, list of the can
eeled certificates and opposite list Of the new certib
Gates and under The st of certificates the baences
any, of the old certificates standing TO the credit OF the
srenderDg parties. These two columns must OF course
balauce Both the old and certificates themselves
accompany the record and all compared with the rec
ord and checked with the initial of the member of the
hovfe examining. If found correct the new certificates
The balances the old certificates if any, carried or
ward to the next day and this carrying forward is also
closely examined every morning record OF all rans-
fes 10 forwarded to the Albany office. This system for
tanftr Office appears be nearly perfect as the ma
turc Of the operation will allow
The heavy decline in the market value OF Stocks and
other o. curites has caused the suspension today of
Nsssrs Bla,chiord & Rainsiord, and Messrs Wm Bor-
rowe Son. The former house has been largely con-
been embarrassed by the Of the last few days. The
heavy fall in Erie understand 10 have been the
Of the suspension of Mcssrs. Borrowo & Son.
The million draft has not yet been presented az
the Sub-Treasury by Gen. Alnonie, but application
made to Mr. Cisco to know if he would pay portion
Of and ndorse the payment the draft. This he de-
clDed but offered TO pay the whole draft and allow any
portion OF the money to remain in the Sub-reasuiy vault
TO be taken away wanted Several leading houses in
the street applied to to-day 10 kno. if they would
tale portions OF the money on loan at five days call with
the probability keeping il some thirty or forty days or
perhaps even longer. From this il would appear that it
intended 10 remit the portion going to England quite
gradually.
The steamer OF tomorrow has $500 in gold bars
gagged
The House of Representatives to-day concurred in the
amendment the General Appropriation bill opproprat-
ing $3.50 600 fo the purchase of the Assay Office building
exempt from taxation thereon. No portion Of the money
Il to be expended unless the Secretary Of the Treasury
shall get rid of the present lease aud he is required to
port the result of the negotiations at the next session of
Congress.
The City Controller that the interest the
city bonds due the lst OF August will be paid that
day, by Il. W. Edmonds Esq., City Chamberlain at the
Mechanics Bank.
TIE Clearing House Exchanges were sls66s, 900.
The Michigan Central Railroad Company have elected
their Board Of Directors for the ensuing year, folows
j. N. Forbes Boston, ID. u. Williamson, J. c. Green,
New-York Erastus Corning, Albany Il. b. Forbes, G.
p Upton J. f.. Thayer Boston; Elon Farnsworth, j.
w. Brooks, Detroit. Tne following gentlemen were
elected officers Of the Board for the ensuing year. j. W.
Forbes President; j. w. Brooks Vee-President Isaac
Livermorc Boston, Treasurer.
The Chamber of Commerce on Thursday had under con-
alteration the Illegal and unauthorized issue of certificates
Of the New-York and New-Haven Railroad Stock. To
prevent OF similar frauds, suggested by
Mr. Barstow that general transfer office should be csta5
hshed for the purpose of transferring stocks but no dce
sive action was taken upon that subject.
The papers by the America arc al hand. The closing
price Of Conols s3i the market during the week hay
ing ranged from sii to 94j
The following table will show the fluctuations in Consos
during the present week;
jane. Lowest. Highest Closing LOwsss. Hishes- Clos
- .hnf shnf