The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-11-18

An IntuaStion against Ccnnecric ut Bank.
INTERESTING pBvEIoFENBSTs IN BAsKEe-FALsE
RsrsGEs ON THE Books-A pEFALcATIoN-Sl0 900
IN CASH AND $4,000 IN SECURITIES GIVEN Up
BANK NOTE pETEcToKs PAID NOT TO BLOW THE
RANK ETC, ETC.
Prom the Hartford Evening Press, Nov lel
The Bank Commissioners, having gwen the Ltohheld
BsnS thorough investigation petitcned for permanent
GlunotIon, and hearing yesterday Afternoon had
before Judge Ellsworth, IN chambers
Locus 4, Peck, Esq attorney for the Rank Comms g.
eoners, read petition, OF which the following rs a
II says that was averred by the officers Of the bank
NJ the former hearing that there only 81 800 IN olG
circulation but the Commissioners find that the actual
amount is s32,C COO
That the amount pledged 10 the Hurbrt Bank as
security for a loan, but $4,000, instead Of
Sis goo, sverred by the officers OF the eans
the fret hearing, the remaining So 900 beng in
lhe hands OF n broker in New York, who had Put
the same circulation with he knowledge q the
Officers OF hsnk but without the knowledge Q. the d
and that record Of these transactions was MAZE
upon the books Of the bank They also ind ,hath bank
security voucher and received interest for
these large loans OF its currency.
That the bank cannot redeem It's crcuat n2 votes either
rs counter or elsewhere.
They also find that instead Of $50 $50 outof the slCo
600 Of its capital stock having been paid IN - stated az
the former hearing, only 50 shares Of the capital stock
amounting 10 IS 600 had pad ui 70 said bank in
Cashhat $40 shares (Which majority Of the stock
were IN the hands Of T. H. iiazcton Co. ana lanei Ban,
coo, and the remainder in promissory notes The 2l2
shares owned By nineteen persons upon which they
had pad $40 go leaving $50 shares IN the names of thr
making ali the time Of the former hearing the actual
amount pad in, 500 100 out of ss9,75o.
They lind that many Of the entries relating TO
mens Of money for capital stock many OF the entries re-
hating discounted and for expenses of
The bank, were false and fraudulent That in some in
stances expenses were twice charged that all the books
kept that deialcaton by the cashier could not
be easily detected It's amount ascertaned That they
oeDeve there is large deiacaon or deficiency I'D the as
OF the bank and above the losses which
counted for That 5000 III specie had been distracted
from the vaults Of the bank.
a ref M 10 q
which claimed TO have been fully secured, sold
tor s3l 500 part of which has yet been realized; and
at Of the other assets Of the bank very little has been
rea!lxedsor made available since The last hearing.
The Commissioners further say that since the order
of the Court passed the Sd OF September last the
President OF the bank, without the knowledge of the
directors. surrendered 10 r. II. Hazeton Co and
Daniel BAH, both Of Michigan, their negotiable
notes amounting TO s2T zoo, and their other oblgs
tons amounting sl3 500 and refunded 20 them $4,000
m cash or available assets, which large sums were
payments for ISL 900 of the capital stock purchased by
Them before the bank FIRST enicncd The President
and Messrs Hazcton and Bail do agree 10 the
present condition Of these assets.
The Commissioners further represent that they believe
Erce Of money have been paid 10 bank note de-
tec,ors 10 New York 10 induce them so report bills
give them currency and enhanced and fictitious
value 10 the capital stock. That according 70 memoran-
dun, furnished by the cashier, there has been paid
SS3 &C. as .o.lows:Monroe s33 90; Dye, slo6 CT Tay
lor, 1888 SO; parties $500 more, which added
the engraveTs bill, which accounts for the bill
stands The cashier, r. l. Houghon, also states that
Rmsey he first owner of the bans agreed 70 pay these
5eteciors 81 900 uo to blow the bank" That OF the
Board Of Directors, hcssrs WEIGH, vessels Gofd and KEEL
ogg, did not assume any responsibility, and did not
gage the mansg of the bark, vi oh entirely
controlled by the other officers and directors.
That within the last few weeks and since Mcssrs
HazieSon and Ball have withdrawn the charter of the
eank controlling portion Of Us capital stock, been
o1ered for sale New York. and this with the knowledge
81 the officers OF the bank.
They also represent that the general circulation Of the
bank 33l $780, and the circulation held by
banks collateral for debts due them Of eighteen thou
sand dollars, s24 500-nakrg the circulation liable for
COO.
The Commissioners believe that IL the bank is revived
and allowed 10 resume business the public viii be in
danger OF sustaining loss thereby They therefore pray
that permanent injunction may be issued and receivers
appointed.
Judge Ellsworth said that he found that tie large
amount Of $50 900 still ont q the bank and IN the
hands OF the public. He did believe that there
saEge bona de subscription TO the bank first. Ii
institution which bore bet a very slight
bEance 70 what its charter intended
create, In the present state Of its affairs one
Will say that the bank ought to proceed. IF he
could anything that could be brought about 10
pct into legitimate shape he would Mr.. hols
sers motion with pleasure but he could not single
method pointed out 10 relieve These gentlemen have
been and about raising funds put
IN good standing again, but there is Of stock
bolders here tor this express any faith lie
should then appoint receivers for the bank AMI order
10 close It's operations.
Mr. r l. Harrison, Of New Haven, and the Hon. Abilah
railn Of Harwntou, accordingly appointed Tecey
Four months allowed for the Presentation Of