New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-03-01


Bank. ofW ateriown, but 30 lamely that mv DO
called an apology rather than u defease. Like all tue
articles that journal has pu, forward in defense Of is
protee is made up OF broad assertions without id.
duc'pg proof and does not ia fact meet the case at
ell, ss We propose to show. Then T. T,ms does
Lot deny the correctness Of statement of the rsas
action, "a given in TUX TRIBUNE, bat does deny its
ilegahty and calls it plain matter Of business at
{" the Department We are perfectly a~irs tbs.
uch Just such business has been done a, the Depart
ment, but twenty cases Of iegaty afford no proper
iusfcstion Of each other. Admitting. then, tho fsou
as rela'ed by US, The ~. Y Times abuses tho CON-
mon sense of readers by stating that the act ofths
Superintendent does not amount to even stechoicd
irregulsrity much less malfeassnce in Office" and
this statement it makes not upon examination Of
the law in TIE matter, but promptly aad without
reservation, because SIR. Keep assures us that hs
"persopally Knows this denial to betrds, and hsu
" not The man 10 equiYo 'se.'
Now we know Mr. Keep to be very respectable
man. and have high regard for his character sod
bis opinions generally, but we think II Is ra'hMs
streDge proceeding TO make him the sole jafse In
matter 10 which he is interested a. one of tbs high
contracting psrties. L. too much Ike placing The
cruipsl upon the bench. OF course Mr. Keep con-
sicers tie operation perfectly legitimate business
transaction bat W. should rather receive the opinion
Of the Attorney General upon II for our lag. tn
~ Y Jimes then, speaking Of the s25, 900 os.s,aaa-
ing circulation of tbs Excelsior Is ,nk, save:
IL "a. entirely eomp.ten. unssr the s.asu. e. =
the relief Of the stoe,. pr-von.ly pledssi"
This brood unsupported assertion we deny and
call upon opponent for the Law which will sdsssn
it. The only law bearing upon the question 10 the
act of May &c. 1884, section 9, which says
HAen any dncu. banner the officers o. any ssati1
association Of rsoqui.hDs the nsnf baaas sasu
end sha produce the CyuO-r certificate OF eepsatn
b.. 10 such bank be 'b. .porov- TO an eqd sess
WITH ~ ercu ,inE rotes 81 such bahk Ins
awv Or him to receive The same AID 70 awe oPs as ~
the rsc,mpsisn CT Calculating ro'es Issued"
The conclusion Is irresistible that until bsak hw
redeemed ninety y cent Of its circustion, II ISIS
lavfri for the Superintendent to receive ceraesS
OF deposit for the remaining circulation. Nov, &C.
corciDg TO The Report Of the Bank Department ior
1889, the largest circulation OF the Excelsior Bank
had been s59, 500. 90 Y cent Of which would have
been s53 57i instead Of which the Bank hsd ony
redeemed s3i $40 when the Superintendent transferred
the securities to the Union Bank. II this BE- not
even technical rreguari,y7 in III. opinion Of tho
Superinte pdent then it is qui time that the should
be eIpOunded by some one else. But he m"t"s
no, left in doabt at all. the annexed extract ron
the Report OF Mr ST. John published on jan D. 1892
proves. He ssys
Intention discontinue the bs,iDess Of bsasias
yisd rh he protfstoE' If ',css eAspio Ss 49, -
b. rcoerfa2 and osHa1 sfseiy oest or o' 4"
ing issu>d ne~ aud ee1Osiss Anoaai OF ~
sufficient 70 reoesm he bsan'e oststaDanf" -,
Here be lays down the la. correctly. ana con'lo"
bin self out of his own mouth. The " Y. Tf~a sfh'
L. ar TTrfo R.rk Of
rsso,iseo fer the deposit Of 8 oot opeay, and i.J
irs any ps, Of t' rse ees iis. thes 70 tss ~ ss
ews 'siey TO re we sns r.tsIriss 10 ca, 80. rs
IBIS reference fully susbOrEsa and ta.t .os ~ A.
atAuy any tine during the oende1eJ Of tee o ar
other the vi We ". Keep h-d charge u the Oso'
Of nsr,own wOus have sdgaaesa $500 We are 'aS'
ssikfeo.'
This is sn mere special pleading. Mr. St. JOINS
powers are regulated By law srd be has no dso'~
ZION whatever in taking securities. Thai law m'."
il strictly obligatory upon him 20 receive r,'nios y"
State and Government Stocks Boaiss nd AoTgsses.
II the Union Bank had made q regular assign1iea'
its large securities, the per would noi awe
worth straw, btcause Mr.. ST. John hia 30 s -.
righ, TO receive il. The fact, hose'er' 'nas 1
~ y. Times OFcsi' satisfed ths.tbe Bank Of A'""y
would have ca,hed the deposited osrthese ~ any
time rhle Mr.. Keep had charge Of The OHi's oa'..
las such an important bearing upon the ies'"' |"
the Supernar dents action thai Tcely leaves '"'
question open for argument.
Again, Tie ~ T. Tirss SAYS:
aBu, saw, TEE TsfsUxr the Uac- Bank o., "sens,
s.rot oIr.niIs<' al the tns " The aepos, rs s,,
The record 10 the J.serrn County Clerk one f,rrsd
p.l .rc.s Of ssoeatsa on tie .; AbasJ. sIssiJ fss
20, .eirle ths point" -
has been settled In the case OF the Mesrop
Bank, of this City, and in that OF the bfosasy
Bank by Mr.. ST. John himself, that an sssso,s',.
for Banking purposes h not legally "orgsn'aes
pn,il Ii has depos'ed in the Bank Department o.
hundred thousand dollars Of securities. Nov e,'s~
Mr.. ST. John transferred the stocks OF the E1es's'<