The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-02-23
ILLINOIS STATE RANK.


In Illinois, besides the Canal stock frauds which
are under investigation, there is another case which
looks badly. 1t concerns the management of the
old State Bank. This Bank. half of the stock
OF which was owned by the State, suspended specie
payments sometime between the wear of 1887 and
| 1889. 1t recuperated, however, but sustained
another reverse about the year 1916, when the
State took the Bank into its care by an act passed
on the last day OF the session IS47, TO finally close
its affairs. In the act it provided that in case
of the non-closing of the Bank before the first day
of November, ls4S, the Governor should have au-
thorty to appoint three trustees to take charge of
all the assets of the Bank and wind up its business
These trustees were required to make annual re-
port to the Governor. The trustees appointed were
N. H. Ridgey, John Calhoun and Uri Manly, who
at once assumed the duties of their trust At this
time the assets of the Bank, on the book, amounted
to from three to five millions of dollars, including
| 100000 cash and suspended debt of perhaps a
million and half.
During the last session of the Legislature Gov
Bissell attempted to remove the old trustees
| by the appointment of Gustavus Koerner
George I. Brown and Richard Yates but the
supreme Court declared that under the act the APP
| pointment was void. While the matter was before
the Court the old trustees had been enioined from
| receiving any salary; but, by the Judgment it ap-
pears they are now entitled to it. Something like
$40 goo has been drawn, or is subject to draft for
salaries growing out of this trust, Independent of
its other expenses; but there is, perhaps $50 900
on hand; that the entire private stock, S1400 OOO
has been completely "swamped," and there is fair
Bank is in similar condition, though it is possible
that the latter may some time be paid. 1t is said
that the title to the valuable pieces of land in Chi
cago and Galena has not travelled many miles from
Springfield; indeed, it is thought that under the
law governing trusts, strict examination would
find these still among the assets of the Bank. If the
trustees stand upon their dignity, and refuse to ac
count on the alleged ground of establishing pre-
islature, but to repeal the act of 1s47 and appoint
| Committee of Investigation with authority to in
stitute suits in chancery.
PENNSYLVANIA CENTRAL RAILRoAD-The Cincin-
natl Commercial of Monday says: In our issue of
Friday last stated the fact that the agents of the
Pennsylvania Road had contracted to carry four
hundred tons of freight from Terre Haute to Bati-
more at reduction of five cents per 100 lbs. from
the agreed rates between those points. The cir
cumstances of the such as left no doubt of
the correctness of the main facts involved and stated
but we INDUCED the hope that the actions of these
agents would be dsavowed and annulled by the man
ayers of the road in question This hope was based
on our implicit faith in the intention of Mr.. Thorn
son to circumference any act, especially on the
part OF his own agents, calculated to disturb the
existing harmony in regard to rates. We have to
confess our disappointment 1t appears that the
management of the Pennsylvan Railroad endorsed
and justified the action of their Western agents. on
the ground that the rate at which the freight in
question was taken is the rate adopted at Niagara
Falls This is true, but it is fact of much greater
import that this rate was on the 10Th November
tame line which amended rate has since that time
been recognized and operated under by the Penn
sylvanla Railroad Company and the Western agents,
in common with all connecting lines. 1t can there
fore, with no proprety be urged that the Pennsyl.
vanla Railroad was not committed to this advance.
Again, the Western roads have as much right to fix
rates on Eastward bound freight the four eastern
lines have to fix them on Westward bound and the
Pennsylvania Road had no right to como into our
midst and disturb these rates as adjusted.
We regret this unfortunate act of the Pennsylva-
MIA Road, and we deeply commiserate with them in
the strait that rendered it necessary for them to
far humiliate themselves before the world and the
rest of mankind to plead so miserable subter-
fuge in justification of their course Surely the
great, well-managed and every way successful
Pennsylvania Railroad could have better afforded to
lose these few hundred tons of freight than to
York Central code ofralway morals and diplomacy
is about to gain another supporter.
Asher A. Skngs, a New York fish and oyster
dealer, died on Saturday night. Two and half
years ago he weighed 400 pounds, and of late, his
weight, although appearing almost incredible, was
sac hundred and serenty-eight pounds His health
was generally very good, but about two weeks ago
he received information that the premises so long
occupied by him were to be pulled down, which
rendered it necessary for him to move. This seemed
to trouble his mind very much; he fell ill, and
growing worse, died as stated.
The desire to confer political rights on women
which is known to have been evinced in Sweden,
has now extended to Denmark; and in two elector-
al districts in Jutland the privilege of being both
voters and representatives has been conceded to
such females as may possess the other legal qualif
cations. At recent election at Silkeborg two
votes were given and recorded in favor of female
candidate, but these were not sufficient to render
har suocessful.