The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-02-11
Bank OF PEN sylvs~is Important Meeting Of
ths Sto~xh sldera

Bank OF Penn sylvn Nta~- Important Meetln& Oh
The Stocsxh ,ldrrH
From the th,lsoel ehs Balietn, Feb 10
sdseereed meeting q the stocknedess OF Lhe hank
street, this afternoon. large number Of gentlemen
were present Mr. sherman, the chairman, called tae
meeting b order at II O'Clock The minutes Oh Tie s'
meeting read.
Tn. CmrsxAS stated that the first business in order
would be the consideration OF the follosng '>
sered ~ the last meeting by Aoncnre Robinson, S@q
yrnmen of all the estate and property Of said hank s a
dors htTeaf accoriSg 10 law; and hal directors be
Snestea TO carry ths resolution into effect
Mr. DFI. moved further consideration OF t1ls
resolution be postponed, 10 enable MIN 20 oner SUD
gtitptc
the r~scing Of the substitute.
M On then read the resolution, as follows
sved Stockholders Of the Bans Of pennsvlys
al ~ he assets Of h. bank In regard to temporary
-. & S S se SYNONYM s1 Of @ H. j as s ss and
all be particulars relating hereto with ne -m9nt Of over
Of e parties they cali foT he tens ha make an
a e Of ds a asGse e H HsSu6 ar s0 Sa
for h~ names 81 al ers Who's paner r., hen otesed
toms AM hereas iersirod 1at III late Pr esiien
p,cc the wto~s and Inc ,,bsrles ~. sush en- ap
propr siion M the which they lived do hereby
aae; bcE rs.Sgs g ssssraa as near a. possible ne
nsa ial Operations and actions under the 81
SUITS laws Of The common w-aS To- he re
very OF tn; sane and also bring suits asSns any parties
b. TO the laws.
There were cries OF "Good on the reading of the
luton.
NJ I'ErA urged the passage o the resolution act
81 smple iu,t TO those who had nothing left TO them
except TO know the worst He continued IN strain of
violent Remuneration at considerable length, and con
ciuoed with anecdotes to illustrate his position.
GESIIshAS present sa,d that night be albright and
vsry pretty but there judgments hanging the
bank that would admit o. delay. Justice TO the stock
holders and eJtors demands tina. assignment be
made that all the creditors Of the institution might
Sore al Ike He would ask the President OF the bank no
toug time VIII eaFse before these judgments will como
upon IL.
Mr. W. c. PATTERSON replied tbs, on Saturday of next
week judgments for $4,000 must upon the bank.
There also suits sterling hills progress but he
dd not think that immediate acton could be take, upon
them
inquired who the parties were that were
bringing suit.
MI PATTERSON saii that they innumerable; tina.
holders OF small bills were bringing suits tia.
every Eve dollar bill thus sued for the
amount OF 81 81 TO be paid.
Mir JAMES Cows did not understand that the creditors
OF the bank desired 70 ruin IT, and he thought that the
proper representations were made delay might DO 90
Mr. PATTERSON sad that all these Arguments bad already
been ard that they had proved entirely unavailable
He was OF the opinion that further delay could not De OBJ
tanned.
hr GowAS desired to know the names of some Of the
parties owing the bank.
Mr. PATTEH said that Mr.. Gullon acting coun-
sci for the Griffin estate
NJ GowAS thought that Mr.. Guillou would not press
suit because could help hs he thought ha.
the creditors would not urge immediate SUI. ey under
stood this hgh
Mr. PArrEvsoy said tha. hat argument had been worn
ont by the Board.
Sir. GowAS desired that the directors should have a
meeting vito ,he creditors.
MI PATTERSON that the stockholders seem be
prepared 10 coubt anything that Board Of Directors
might do.
Nv Cows said he had no such meaning
Mr. PATTERSON said there had been grsa;
n,itted By officers Of The bat and In
speaking Of suits brossht against the baDk
question wSether mos, unjust oa,m tor s25o 900 could
be mantaned. A Bill had been sold by director with
out the ledge of the other directors.
MIR Oh n q
da7.;s CT ceerce sufficient, aod might order Judgment
Nr JouN NJ Sc0T said that 4 the Of the bank
would not pay It's debts IL Of little consequence 20
the stockholders Tho would get the assets Bl. we nigh!
risk sme,hpg besides losing al hy pursuing too hasty
course. He moved u amend tne resolution By striking
ont the word- "seeoeong &, law inserting "accoci.
fng 70 the requ5oas and directions Of the act Of 1885,
Mr. sc6rr meed that no iudgnen, cou,t ne obtained
IN a anti the first tried. He continued
the horcrs Gepos'o-s srould PAID ars
We have accepted the OF 1850 and n tba oml
appointed by lie Governor report :ae bank
nsOeeDt. would come urder that law. He referred
Go the personal liability Of the Directors which nigh. DO
urged By parties lie, Tor one, disposed TO
this rpst, ont be not Ming % toro~ away any
legal right ne Ctt possess tie tbNb spoke Of toe fact
hat the bills ccvah Of ,bc M te-n sod Thee
bills toe President had isat IL ssi ana every .to.
gent pure has s1cuid be Ihis fact Il might
vet be proper 20 effort a. least the
excess interest oStne through the purchase Of these
bib aud tee stockholders might aso the
sve h;errst lswed az ceposrS. Mr Scott not ts
posed H. mpfon.iee am st; he might possess. lie
would raj; ct DC forcrd mo AZ sgnent ~ the report
OF The tomu iss1ners tan 90 voluntarily make an As
6lgnment
stakeholder referred TO the FAC: that bls receivable
n very heavy amount hal been sold 70 single mot
vidusl.
Another stookhoder desired to kucw who that indi-
vioual
Mr.. PaTIERsos rel lied Charles Henry FISHER"
Mr. GowAN seconded Mr. S.ot's amendment and made
some rcrnarFs IN favor Of u.
Judge Csxrxrys moved IN % tponc indefinitely the
further consideration ~ the resolution and spoke Al
length In advocacy 81 the policy ~ "vse ard mStery
Inactivity. he contender that II the true policy Of
the bank tie Commissioners take their
Mr. GuwAs followed IN support q the views Of Juose
ChauUnrys
Judge Chamrncys' m o,ion prevailed.
Mr. Sluu amen0ed his amendment 80 rs 70 read "C
they have obtain power N do 20, and Il
RED
Col PATrERsos stated that Mr.. Tbos. Albone had con
veysd all bs property ~ Pennsylvania b. the bank
cept such as was pledged Tor other debis.