The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1858-08-03

Il ~ tb009oWB III &00m0yoV0m10s
The Philadelphia North American, July FL,
gives the following summary Of long report
lust made by Committee appointed BY The
last Legislature Of Pennsylvania, to investigate
the affairs Of sundry new banking corporations
In the interior Of that State. The notes Of
sulating freely in this section. They are used
By spectators for the purchase Of grain
Farmers cannot be too cautious about taking
them =
The first Of these PsnnsylvAnia banks, all Of
which were chartered at the Legislative Session
Of 1857, 10 the Tioga County Bank. The letters
patent state that the subscription amounted to
1869 shares, and the Committee found that
l.040 Of these had been subscribed, and the
6rst ias,alment paid in single day, BY certain
Buffalo fnanciers, of whom Wells D. Walbridge,
| for himself and various females took GAO shares,
while Edgar 3. Thsyer. Of Buffalo, took 700
more, and J. Porter Brawley took the remain
ing 200. Thayer belongs to q nest Of 6nan.
ciers Of that name, in Buffalo, one of whom
opened the bank, and at once entered discounts
70 the amount Of $40, los, all to Buffalo parties
q. r. Steers, Of Buffalo, who was elected teller
Of the bank, says that upon taking charge of it
there was detc. Of $6.S73. The discounts
now amount 70 $4,000 80. nearly all Of which
have been TO Buffalo parties, and all except one
note OF 81 loo, in sums Of from 81, 900 to S.
800 The Thayers and Walbridge figure either |
as drawers or indorsers in nearly all OF these.
IL Is clear that this bank purely speculative,
the subscription notes having been Immediately
discounted
1ne same parties appear to have beef the
operators in tie new bank of Crawford County.
10 this concern .534 shares Of stock we're sub
scribed, of which 1910 we're BY the Buffalo
gang, and the rest by J. Porter Brawley, as one
OF the same party, except about tCsty four
shares. This subscription was paid in Toga
County bank notes. being chiefly the S2o,l55
at the organization Of that concern,
e Except abont 5000 paid in specie. The bank |
has circulation OF $34, 055 against $2,7O6 "a,
IN gold and silver, and its discounts reach jl27,-
'l7 81, OF which S63, 800 has been to parties
out of the State. The teller states that he and
he President ordered at the same time the en-
,raving of the plates for both this and the {
rioga County Bank. q
The Thayers again figure as the parties tax. G
ng the stock OF the new Shamokin Bank, OF
inch the whole subscription was $40 shares,
lille they and their associates took 1920 K
hares One of the Thayers settled for ali tho | +
hanokin, and paid no money except 81, 900 in 9
old and $4,000 in notes of the Tioga and
.rawford County banks. Immediately upon Il
be organization Of the bank, the books show D
hat ,ol5 50 Of discounts we're granted to
jackson, Of New York City, aud Underhill
Lockhart $4,000, being in one item OF
ackson. The indorsers Of these notes are J. al
' underhill, Il. r. Underhill, while the teller i,
the bank is Robert Undsrhl. The circu- d
ton amounts to $500, and the cash to a,
1879 O5.
The cashier, David A. Robinson, formerly Of D,
ntfalo, explains that the money paid in as CAP
II stock of the bank, was discounted to the
lrtles named, and the notes were left as the | 70
pital OF the bank. A person named Street. | 10
Pretence OF being man OF means, who in &c
ided subscribing $500 to the stock Of the pi
'nk, was entrusted with $40, 900 to arrange q OF
stem OF exchange with the banks Of Western
nnsy lvania, instead of which he appropriated Ju
e money to his own uses, but was afterward ca
rested and obliged to disgorge. j. Jackson ca
10 ngures as principal operator in this banks sh
eyed himself to be worth $4,000, which on tu
vestigation turns out to be moonshne. J. R. oil
'binson was another of the wre.workers in Jo'
is institution, and appears as the party to .s
lom the discounted $3S, 900 was transferred mr.
check. About $4,000 Of the bills OF the ire
amokin Bank W re obtained from it by Rob- its
son, and used to pay the 6rst inssalment of q TN
description of stock by him to the Mexican nc
unity Bank. How this money was procured OF
es not appear, but it was not by discount, az ne
was to be returned to the bank. en-
Among the persons acting with the Thayers.
belonging to the Buffalo party in all these sta
INKS, w. Mech, several named Ganson, C. ing
yne and N. Carson. These appear again in Ion
} stock subscription to the Bank of Phoenix Del
lie, which, had an organization taken place, ere
uld have stood 200 shares taken by Buffalo ran
vicinity, 1913 by Phenixvie. Some of ers
se subscriptions, to the amount of 1000 nuI
res, were taken for others by parties who on :,
held powers of Attorney to subscribe 500 Sna
res. They altered the figures at the time
subscribing. The first payment on the Jur
* was made in notes Of the Tioga County
TX, which was objectek to by the commits =.
lers, aud en- investigation ensued, ending in sue
subscriptions being declared bogus, and WI
hdrswn. pea
! startling revelation is made by the COM 80
tee relative to the bank-note reporters L. a
OF seems to have shown that some of these 49,. Us
CHI quote hsnks IL anad -. haa .s. s; sns' play
ding as the conductors are fed Letters and .ue
ulars are described as being sent to banks, s
llring immediate correspondence or per e..s
ii visit, to make certain arrangements, on .
NOR
len William wolkon A., eu;h.. ches
lam L. fancey are canvassing Alabama for ave
r scheme of Southern League. The first ou'
,le CT the Constitution Isl ner
The members of this organization shall be r
Wn The Leaguers of the Sonth and our T,;sJ