The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-02-03

deficiency OF ~ ,3l9 AIS rs
will be exhibited, or, in other words for tina, amount OF
the property OF the bank the Board were unable to find
among its assets any representative whatever.
The available OF the bills receivable ofthe hank
cuded the above statement had been previously deli
to other city banks collateral security for the
payment Of advances made by them 20 avert the sspen
this bank. OF these the Philadelphia Bank held Sis.
21s 40 as security for $lco 0o0 John Welsh ESQ trus
tee for the Bank OF North America, Farmers aud Mecha
nics' and PHILADELPHIA Banks s2s5st3 o. for $500 000
and MessIs Rogers Borie and Austin, trustees Tor the
city banks generally, Sis9oS "a for debts s6dZ co.,
The securities for the first and second believed TO
he sufficient for their payment, or nearly so, ana II is
hoped TINT seventy five per cent as per cent? o the last
mentioned debt will ultimately be realized from the
rites in the hands OF the trustees Further investigation
has brought to light some additional assets claims have
been presented which did not the books of
the hank. and the ownership OF most of the doubtful
items has been determined Upon the whole, the nomi
nal surplus has been increased without any substantial
addition to its value.
Among the assets were found notes checks &c OF an
iDsolyent house. the bead which Is the brother Of the
late President, amounting To sllp2G6 s. of which small
portion secured by doubtful c,lserals, and the ef
ecs IN the bands OF the assignee OF the 6r expected
opsy a very small dividend Of this large but
si2 $50 discounted by the Board Of Directors The
remaining notes, which unendcrsec, and without
curry Of any kind, came into the possession
Of the bank, the Undersigned are informed
by the drawers without their agency or know
ledge. This debt the late PresieB, has, since his
return proposed TO The paper OF oher insol
vent coucerrs TO very large amount, found in a
safe the bank of which key u by Presi
dent aud u included In the preceding Of
assets The parties are unable TO pay anything at present,
OF them appear have been under the impress
SIGN that their indebtedness was 10 Mr. Abone indvidu
ally aiht ush many Of their and checks paw.
able the order OF the cashier. The obligations of
form director and q his ht appear TO the extent of
slI6,s1s u,
Tie other members Of the old Board discalm all know
ledge Of the transactions by which most oft,is paper
into the possession Of the bank Arrangements have
been made by which third Of tho amount will proba
bly, be realized.
In ether do large leans appear 10 have been
made 70 any mercantile house one, she principal Of
which also director Of the bank He commun .aied
TO the Board Immediately after the suspension Of his
house. bis determination nav every ohga fiscoun;-
for him brought bank by his penta
~ This premise has thus far been redeemed in good
faith and the greater part of the debt paid. Ample
rites beld fer The unpaid obligations most Of which,
however alleged TO have been issued without consde
raucn.
The notes Of the Hsmpaeld Railroad Company Tor two
hundred end eighty nine thousand six hundred dollars
with their bonos security, (aken by the late Pre-
sdept without the knowledge Of The Board except to
three Of ~ members have been informed by him
sell and Others Tor the present entirely unavailable
also those of the Marietta and Cincinnati. North
Western West Chester and Philadelphia and Camden and
Atlantic Railroad Companies, for smaller In add
tion 10 the admitted liabilities Of the bank claims are
made against about 900 o paper ncu led IN the
foregoing statement Of s assets mrst cf which Is among
the securities bela by The other city banks These notes
and aceiances alleged 10 have been loaned 10 the
late President by &C mercantile firms. partly for his
mmodaton and partly 10 enable him 10 sustain the
bark" much of which Mr.. Allibone claims bis
which ay he established against him. In one case
the obligations said 10 have been executed by one
partner without the knowledge of the others.
Among the assets or the bank they appeared upon
III. hooks the following items all OF which sup
posed TO represent bosses