New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-09-04
THE MECHANICS BANK DIFFICULTY;
MR.. JOHN BURKES REPLY
TO THE PAMPHLET OF r. W. EDMoNps, LATE CASH.
TER OF THE MECHANICS BANK.

MR.. JOHN BURKEs REPLY
TO TIE PAMPHLET OF r. W. EDMoSDs, LATE CASH.
Ter OF THE MECHANICS BANh
To the S.oektolders aJ ths Meahaatca' Bank;
On the I'd August, having UNANIMOUSLY acccpse' inc
resignation of ire Cashier, the Board appointed the
Pr. sident and m, self commeee h ascertain the In
debteopess of Mr. Edmonds 10 toe bank, and IN per-
io ming that duty, drew up hastily, because had
bu, lite time devote to it, the estimates OF the loss
su.i aimed by the bank by Mr. Edmondss malpractice
hi, h fell into his baI de- and published by him.
This is purely an estimate it's title indicates, and
not part of The charges, Mr.. Etmonds represents
and the compound interest,"" which has excited 80
mucLlIspmadverson, is as strictly loss to the bank
as any other item. | had AID have now no desire to
pursue Mr. Edmonds with unnecessary severity all
have wished that he should refund what was fary
due the bank.
desire 20 say a few words respecting the letter |
wrote 10 Mr. EdmoDds asking his concurrence in my
eecon "a cashier After bs resignation was accepted
coLtpued to have business intercourse with Mr.. Eh'
mopda IL bis capacity az Chamberlain the notes re-
ceived from him relating to this business were OF
friendly tenor lone have before me now commence
ing {" Dear Sir" and end enoing :" Yours truly,
aud had every reason TO suppose that hls ieehngs
toward me remained they seemed az our last inter-
view MIR. EomOnds know, bad recommended mo
sou time since to aD officer of of the leading city
banks for their casbitrship, then vacant, aud hai
spoken of me his probable successor III w, SVEN
OF his death or resie nation, and saw no good reason
why be should now object to my succeeding him. ana
fit that his ocquescence would silence reports ana
in,inua,oI put circulation by his friends as then
suI posed, without his sanction; on no, ASK tlis o,
HIM az faror, but as q means Of doing what he had
ga d O olld do-of les ra n Dg his fiens shpm he
knew were snDo, ing me | could not suppose that
under the fair exterior he presented he was cooceaog
the malg ant feelings which pervade the pamphlet ne
pubished-but enough on this subject. | have de-
Ia. cashier ahiD n Justification yndlcatlDn
OF n e course have Uurrued.
/ now come 10 consider Mr.. Edmonds's defence The
frs. clare made agaif st hun Was: Receiving large
sums of interest from the flint teller and ite ms of
excha; o from the second teller for series OF
year, and approPratng portion OF SAID sums to his
% own use."
Mr. Eomonds admits having received these moneys
from the teeIs but Gays that "euery once in rhae'
he passed the aggregate of those aymenis TO the i-
terett account. Nov, what do tho books say From
January 1s40 to October ls4, four years and eight
months the cashier received from the seconi teller AL
items of exchange colectd by him, but did not credit
dollar on the IO0ks Of tie Bank In October, 1884,
be croi,ed $50 2olOO, but from that time to January
1s46, year and three months, noe doAar So that
Mr.. Edm mono 'ODce IN wbilo seems 10 be once On
sir years. Rather long while.
But Mr. Edmonds says the President and myself
were 10 the habit Of pay ing from that money various
"litle EXPENSE of the bank" What these
little expenses know of none. cannot even
imsgiIe any. Al the Legitimate, regular incidental
expenditu es Of the bank were provided for IN other
ways. But, Gays Mr. Edmonds, most Of these eI.
mixtures grew out of the Cham6erlans otice:.
answer during these years the bank had nothing to
do with the Chamberlain's office. And 1t certainly
does eeem little sing ular that these unknown and in
expcable little expenses" should absorb the entire
receipts from the second teller excepting ss6 ao for
Period Of six ear.
Ffou January, 1876, 10 1884, the amount credited
to interest account by the Cashier is 81 1853 80, about
twenty Iine and half dollars per month. From Au.
gust ISL 30 January, 1855, the amount actually paid
bvt ia h.fa
collars ptr month Whether there was this difference
forty and half dollars per month-between the re.
ceps from this source Of 1886 70 1851, and those OF
1851 to 1855 or whether those little expenses make
up the deficiency, who can say
From Jsnusry, 1851, to January, 1855, Mr. Ed,
mones credited to interest account. sss2 u
The ,s ;';S 60 ,s sss, Ysss him. om A'sa..
En- ID January ISL TO August, 1851 tho teller
the average IL the sbcy.-S72 per month
for monIbs-the amount would have 49, ,ooo
"-p'''- -"
1.,,iO, b,.ne. of............ spH
During Ills reriod, Mr.. Cooke, the drs, eHcr,)
terrified before the Board Of Directors that be paid
Mr.. Edmolds for interests on loans abou, $50
MONTH, --insking a. 200, leaving unaeoouofed Tor
during tbose y,ars, =, 100 -. hat oeei9s OF tnis
MONEY BeriIo the " little expenses" Mr. I'd
uoncs says that he paid out of this money assess
n.ens II ade by political parties upon the office OF
Chamber lain, for the expenses OF elections. Now,
at ril hi had MIR. EdmoLds, even with tho sanction
of The Pr.sid.n, (which LIE has the effrontery de
clare that he had, TO pay the money OF the Bank for
ele ction expense, what reason was there why he
should do so The account 10 doubtless good one
for the Bank although It's value Is grossly oyers'aed
b, Mr.. Edmonds; but the salary and perlui.ites oil
tie Chamberlain amply sufficient 10 enable the
holder 10 uny his own election assessments without
taking su1,p iiousy tho funds OF the BANK Tor that
purpose.
: Ths pies false ns know il 10 be- "a so disgra 'eful
That nothing but tho despair OF doectcd cuprt could
have induced 1, sort 10 t. lot IL Is nnblushingly
put forth BY man who the same pages, talks Of
bis "s.fslivcm ~ Ia crpsurv, AMI OF . reputation
that ho values mofc than life.
charged Mr Edinonds. SECONDLY, with appcopri,
s,irr "a bis purposes, INSTEAD OF the honott of
ila Institution, as Lad been done NJ io May, 1901
" the salafn rrrey "a rum the tra and Schcloctsdy
- Railroad Company. and tho Canton Company OF
" Isltu oic and with salary received nom tho Eisc-
"vpith COMPANY,
To tlis MI Edinnnds replies that "tt Is q usual
" thing among bank rfvsidep.s snd oaShvFs 9" hsvo
4" iLcso priunisi,s added Ia their aicans answer,
il wee hM usual la the Nsetsssc,' Rgsh. and sss
never dime WITH May isSi. lie Gays. your uaard
" have kbasA II and SAM tanod II,
1het 10 40 ifses II saeh Mo sieie OF sanction ON
IRE tn'naies Il tho beard, lie Tho caso ~ sho snan
4 "a, i,aay ia uheh Ls says 80 was by an ospsvss
. ass.ni ~ ihe board " al oas sllascd nav
4" fs,uRisile tho salary fes heepias theif usnsfos
sNsss A. tt.eesis Al, tb.g ~ - hsssssess
To- h4ls zee es,ep trv Y.Is gAs paaE As
~ ss-. IL sa.e Z syh - .ss sa,, ss,ss
.s5 e.. g. ~ s.. a. f,'s s.ss. w.
~ 81 - -.s.,.. -, ss y ts. s-~A 40 .s4