New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-11-10

proceed in 80 effort to srrive at any intelligent con.
tuson conct Ing the dtou of the institution. For
eeverA years the lac President has purch .sed bills
receivable and abszacted the funds Of the bank and
used them fci BIZ own purposes without the Wedge
o. the board oi DnectoEr Money thus taken was
charged TO Sterirg Account aud to Temporary Loan
Account, and no precise conclusion could be arrived
at regarding the real condition OF the bs1k uatii its
affairs are accurately examined by experts.
beChaiunsn bad no doubt that with the and Of q
Dew Board Of Directors sssets could be secured which
ccudot BOW tie resooed. We may be able to get from
those who aided the late Preside ut in the abstraction
Of the asses Of the bank some portion of the property
thus cbtsined. He was governed bv the opinion of
counsel in advising the meetisg to acce Of the provi-
sions Of the act Of the Special Session of the Lsysa-
ture. He thought that course the most advisabls no.
der the circumstances.
Tie present President and Directors are WILING 10
continue or to retire, as the stockholders m.y desire
He had 10 hesitation in saying that the Board should be
entirely reorganized, ard that Committee Of large
shareholders should be appointed 10 selec. new
Board. The way to this movement has been paved BY
tie willipeness OF the old Board to retire all have
resigned except Mr. Thomas Alibone, and he was
himaef Of opinion that his having resigned from the
Presidency and left for Europe, under the circum-
stances be did, vacated his place. He the Chairman
so Construed il.
The Chairman said he had intended to offer reso,u.
tons to bst effect sd he not been called to the chsr.
He thought that by masking q vigorous efo t. aud by
having 1ew means infused into the man sgement Of the
institution the Bank might yet be able not only to
meet its engagements, but have some residue. He
hoped those called upon to act would do so chserfdy
and take charge OF the affairs OF the insaton at this
critical period Of it's history.
He hoped the widespread In Try wrought by the
late President ard his aders and abeors would spur
the new Directors on to aid the willow In preserving
portion Of the mite she had lost, and the numerous
charitable institutions Interested 10 saving portion
Of the they had invested in the stock of the
Bsrk
The Chairman then read the following resolutions,
v<,rvx tfv ba
late President as he proceeded
Re.oted ls Tha, committee of FIVE large Shareholders be
appointed By the Chsmsn to recommend such names for d.
poaon In their opinion be mos. de-
sse ard the present Board OF Directors be aud they
to :a Se ss .. s
by Rs,S I That Mr. rbou.. h.vin. M the United
Stare. snd his the Board Of Directors thereby having be-
come h rS SGS Of s
Resoir.d 3d. That the Bosrd of when sorgsaz
be and they hereby report to the Stockholders
Of early period and far the be eoue CON
bark has been impaired BY unauthorized fraudulent acts Of
the late President ssd the names OF any ader' or a0so' 10
such unauth Dried or fraudulent acts.
/ Mr.. Abraham Baker and several other gentlemen
declared their willingness to offer the resolutions read
by the President.
The frst and third resolutions were unanimously
adopted
On the question of adopting the second resolution
Nv John Dutton made gallant defense Of
MR.. ALLIBoNE.
Chair was about putting the question Mr.. John NJ.
Dutton rose on the cOubter where he had been sitting
in loud tone protested against the passage OF the
resolution. He declared that the data on which to
base the prevalent opinions of Mr. Allibones fraud
we're utterly unfounded and would eventually prove
untrue Here strong sensation was visible in the
crowd, and incredulous Calculations were heard on all
tides. 49,
A voice very fierce -"who denies the chsrgssl"
Mr. Dutton-I am here representing stock in this
Bank, and have rightto speak. II any gentleman
tskts exception to my remark, he can reply when l
am done.
Col. Pstterson-I hope no man will have his mouth
closeo here to-day Applause
Mr. Dutton then resumed He referred TO the pro-
ceedipes which had been instituted In one OF the courts
lsst Stature ay and der ounced them malignant and
sanderous He declared that 1t could be shown that
there 800 900 Of assets which had disappeared
and he wished to know whether Mr.. Alibone was to
be held Responsible for the whole amount. He de-
csred that Mr. AiboLe would return to this country,
ard livery excitedy man r dare TO RAISE has roiee
10 sldnder him.
Here a perfect storm of Kisses interrupted the
speaker, and shouts of put him down." &c., came
fom ell eides.
M Dutten eth went on, urging that there was
diversity Of opinion TO this matter, and II became
us to lean to the aide of mercy Indignant and rouica
criet. II a terrible thing to steal away the charac
ter ii msu. have heard Mr. Allibone declare that
If be had known the condition OF the affairs OF the
Bank when he took charge of them, $4,000 would
have been no temptation to him to accept tho office
of President.
Here gfoans snd criee interrupted the speaker
a1d Mr.. James Evans Of Lancaster shouted out:
You cant whitewash the id scoundrel here.'
O.her voices echoed the cry Of :" You can't white
wesh him. ard in the threatening aspect Of affairs it
10, ked as il Mr.. ID would need withdrawing" him.
self iu the estimation Of the excited stockholders
Mr. Dutfon again resumed, and disclained any at
tempt at whitewashing Mr.. Allibone lie said thai
Mr. A. would soon return from Europe aud clear the
chNges agsnst bin.
Col Patterson SAID be hoped that Mr.. A. ronA re.
urn SOON IL would serve the cause OF truth aud
tce il be should do So and exposs all those who had
prt fted by these nefarious transactions.
The resolution was then passed-three persons
voting the negstve, Messrs. Dutton, Simpson and
another gentleman whose name We could not obtain.
The Chsirmsu then announced the following named
gentlemen to form the Committee to select new
| Board of Directors: Henry Cope. esq, Mordeoai d.
Lewis ESQ.,, DR.. j. Rhea Barton, William A. Blanch-
ard, esq, and James Evans, esq, OF Lancaster.
gentle man present said he was confident Dr. Bar
ton would not serve. Joseph Perot, esq, was sp-
pointed in the place Of DIR. Ii.
Or motion Of James Gowan, esq, the Chairman was
| ADDED to the Committee.
siockhoder desired 10 know whether, Ii the bank
cor uues in operation until after Apr next the stock
holders would not be individually liable for the circu-
| laton under the act of 1867
The Chairman raid they would, but OF course the
bark would Lot 90 on unlt IS after Careful examna-
| ZION it was deemed advisable to do 80.
resolution to proceed to stock vote on the accsp
tar ce or rejecoa If the &C. then proceeded with
| TIE REF ult as as follows:
For the act, co.; sgaips. the set, =.
| The meeting then adjourned SINE DIE.