New-York daily tribune., 1858-03-06
WM. A BOOTH,
JOHN T.. WILLIAMS. in.
Z. w. DUNHAM, '''i-iN'''7
PARKER HANDY,

There ia mat excess of securities, if the bonds
al par.
The Committee OF the Pennsylvania Legislature TO
investigate the affairs Of the Bank Of Pennsylvania
have made report IN which they exculpate Mr.. Ali
bone fC the charges OF fraud made against him but
attribute the ruin OF the bank TO his bad and reckless
management. Both he and the officers aud directors
OF the bank are ceDsured for not sooner dig
covering the true condition Of that institution.
The annexed extracts from the report show the knd ot
manage ment which has brought the bank to ruin Up
TO 1888 it thought the bank sound, but the con-
dtion Of the books since that period such that 1t
difficult to ascertain from them its true condition.
The sceo.n; Thomas Abone, President and Thomas An
6@' s.aT a IL he fsI 20 sppaa. .niS from hi. .aony
6aya been entirely ipr bank That Of Thomas
Of The BANK he alleges oath large deposits
no"n,s In the bsn. ard that these were drawn
out on checks that large amounting al
time TO some some sx hundred thousand tos 10 e"
days deposited by his friends snd that much OF mis- private
sccosn; was made Of ransaon such az these which weEe
To Of these accounts 00 is chged, which wss given
rs coupenaL individual for services rendered in effect
Ing he Of the baI king TO the Government for Post
Ofe a'o yArols memoTandun cheeh amognt1f II N, az
Co for premiums se tthe initials are only marked on the
fr intere. on they should charged
account OF !u, fund and not carried along in Thoma Az
esrfgs or profits or the bank
", do n5 find any eylence that the bank any time
interest any bills II discounted 5n reqlenty
sod bills large a. inous rates We hnd account Of
,iors Nj Guicka sod some the bsuk II p
T. ct month Mr C6sIes Henry Fisher took from the 6ans
;, zine about 10000 al what rae he does no, ecoe
NJ Fisher This Transaction made at the esrn socs
Of Mr. Abone The Bank from DISTINCTION IN 1888
This the only Is MI Fisher bo the bills discounted
l. does not much ejaculation perceive that in discount
jng bin. IN sge sums az cent, and selling them q 10 n
cent there great ihs, be charged count
tsep he booss straight Another calse los 70 the bank
ie .@Si ~ o. 80 s, ,ba Within w ~ sT
he paid firm IL Third street $4,000 for inter
from tbe co5amonwrs,b 5000 coaoon bonds. IN 1854
U' .a 1855 b bDpd. we're .oI ct oi. Of SIS 81 H. Toe
Joe. is s:il the books an asset under the mead OF
thai he bOokkeeper Wa. IN ooAu
sio1 with Mr Fey, and allowed hm 70 oyerdaw his aco1nt
$1,000 Wien Il wa' discovered the o3oNkepeT was
Dis hsred tut the loss was ef the books where It III re
main, as a. sset or addition to some +loo o a T
There s.o loss in the and o foreign
h. Of has not charged 70 proper account; bat Appearing
Te bsnS hold, ,oct bought at different times BY
some He during the month Of september last SSji3 % Of
h1 M 9 9 ,nJa t go 2s, gi, s @ S bns. bSyr, from
twenty ,hy CLERKS including the Cashier and President
with .sos n the aggregate amounting $1,000
and declaring dividends less than io and usually
The cAE during lsst years declsred Il = bent dyi
deud capita stock while do not believe th aer ly
J. 85 condition make dividend al a, up 10 tho
on the 10. dsy January 1851 Of the then Dretes
". apt.iu.dt examine the OF the Bsuk they each
cery IS $50 S54 81 bills discounted bills OF
hange loans found haLd when the books show
the bills exchange discounteiby which il meant bills
se q the c.ysl that in the possession Of the
note clerk amounted 20 only S26y7,l5 10.
There sppesT have been correctly examined The balance
xlS73f Sthsy did not examine. These Were the tenn
IoIsry osIs aud transient discounts the Presidents safe
Without examining tn o. alas each Of them tehes-
they signed h cer:lhc ale that they were correct
partial loosely conducted a. these appear 10
have been be strongly condemned The parties making
word that right" Ii that sufficient tr
examining Of the they might well have taken
hs word whole tie statement found IN the books
nsnot remarkable that the officers and clerks Of the bank al
appear TO been entirely ignorant Of ts rue condition
". iu the that produced the failure Of the bank
dividends declared earned and these dividends
together than hs OF the capital Of the bank
ksaDdLE due the comnoA wealth and siJrney ee IL
ti.son Of the same $4,000 lavish prodigAy in the
Ordinary aud extraordinary Of the bank usuous inter
paid deposits losses paid on the sale OF the bills
By the bank loss bonds Of the state o
loans; overdrsps on the individual ledger
discounts paid mOLey loss on foreign bills o
the bank and bad loans and debts
sion o the Many Of the losses charged 20 Ali
did ro APPEAR the general statement Whether Of the
money without cousde ration what think uslous
con recovered not for inquire decide
The difficulties IN the bank commenced II the Summer Of 1885
President appears 70 have INDUCED the vain ho that
ey, trOube would last aud That sacrifice obtain
money 70 the bank would permanent relief and
a. ID b. made pp while little rejection Eh % have
ho him the shyocks" who controlled MN were in
ever tla4sLooI pI him into trouble aud iasen
ilg th,r into TIE very yita.s Of tae bank.
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