Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1857-11-14
THE RANK OF pnrrsyLvArrA.

II will be seen by the following proceed
ings that the directors and others connected
with the Bank OF Pennsylvania, have so
that they, themselves, are not able to CON-
prehend whether the Bank is hopelessly in
solvent, or will be able to 60 on. The direc-
tors after having about weeks since, eulo-
gised their late President, cow charge bin
with Wholesale fraud and villainy.
Mr.. S. Austin Allibone, the brother Of the
late President of the Bank in card, asks
suspension of public opinion until his brother
returns
On Saturday last the Directors Of the
Bank of Pennsy ylvauia made affidavit before
Alderman Kenney charging that Thomas
Allibone, late President of that institution,
with having received TO his own use tico hun
| dred thousand dollars of the moneys Of the
bank, and with having absconded to a for
egn country with a design TO defraud his
creditors, not leaving in the State sufficient
property to pay his debts. On this affidavit
q writ of attachment was ssned, and Oh Sat.
urday evening the sheriff made the usual
service at the late residence Of Mr.. Alibone,
in West Philadelphia. The officer is also
! directed to attach certain moneys and effects
| in thepossesson of William &. Morgan and
! Thomas l.. QuickSall, copartners as Wm. &.
Morgan & Co. of Robert j. Ross and Philip
! f. Kelly, copartners as II. j Ross & Co.
aud Francis ii. Drexel and Joseph w Drex.
! el, copartners as Drexel & Co., and to sum-
mons them as garnisbees, in order to hold
| for the benefit Of the bank whatever may be
due from them to Mr.. Allibone. Not the
! least singular feature Of this case--and it is
one that proves how utterly valucless as q
! protection against fraud and impropriety are
| modern directors-is that a ma iority Of the
/ directors that make the affidavit charging the
late President with fraud and running away,
only twenty days before passed resolution
on the occasion of bis resignation, expressing
their feelings of deep regret at parting
with him, and sympathzDg with him that bis
health required his absence from the country
wishing him long life Of happiness and use.
! fulness BY this official endorsement by par-
! ties who were n position TO know, and who
should have known whether such an endorse.
meut Of the officer vas merited, several Of the
daily newspapers we're induced TO believe
| that the administration Of the affairs of the
bank, though the institution was in n failing
! condition, was probably free from the tnint o
fraud. We now however have their oath.
against their words, that there is fraud, and
that their late President is unworthy Of .he
kind regard expressed for him. We are not
disposed to believe that the directors at The
! time of Mr. Aiibone's resignation were cog
infant Of the frauds now suorn to, but as
they should have known, they stand scarcely
less culpabe to the plnndered creditors oI
the bank and to the public, than if wltully
asserting what they know to be true II
they knew nothing against Mr.. a at th,
time OF his resignation, they should have said
nothing, resting content with quietly filing
away the document that officially disconnected
him from the institution. They we're no
called on to say anything, aud certainly not
to state and proclaim IN untruth The pub
lie will feel much disposed to hold the drec
tors to the just responsibility that attaches
to their Office, and in denouncing Allibont
will not withhold their censures for his adyi
sers in tie administration of the affairs Of the
bank, and bis epdorsers at the end Of bis
labors'-PuJAc Ledger.