The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-03-22
Bsnh Directors and LeNSy1sn.
NM. O. n kArrksos AND TEE cgSrnAL EAxx on vrv


isaf I~SsF ~ needsy last cob,as article ovcr
,se tstAsfe q o sAsisspa, isis Prctilsni VI ~
90 ne puttr fcw tAe ner ~ h~ lAuard % II essos
% thAi b-rs, nmoyiEg ara fgsta Tie prcn,dency o.
.e.oeaa % sfres sia.iao1 q a1iy ana bfsp d uast
mff W. tame q thc bank for ~ o~n psivs'o pBrplecs
,omtarst.sy smali raroer at mar srtcie ssvosro
~ AT AAitfneA dsience sx.ass ne cha scs l.4 "a HI.
90 seh nc sreAaer pafs q eonsstng ~ mp i'sa,,
~ inFotsf motives ara insTgoper coasart neanss NJ
efspnist, lie csshier, and sfsi w 90 D. tne ira
pen nsnoe whch has been sivsn " ny name n NJ
To await my ineh aTeroAchug vma - 'yuc. bsfo,.
spreading the true facts q tae ease hsfsr~ m unb
NC: oosr~ .neh J regret, - J have DO desare b
eivdus referred 20. The ory qicstcn whrh deern az
apy Prscei importance In correction VI n thp matter
WE'LL ~, ~ nv NJ Madison has been justly oonv,e
ty removal and shall net be drawn away from tho ds
seessnn o. ma qaesuon by persona asiAcks upon me
o. my associates Juseded ~ the fActs AMI havi.
done so snAl tsk the public 10 presume TIA, waa AZ.
."Aeo ~ proper monyee "a PERFORMING, a. dt, very
pam dniy-f, indeed, the paehc anything about
my motives.
About the 2osh or 2ist u February learned facts which
aroused suspicion in my mind that Mr.. Naiieson nAa
been Improperly using the name Of the bark IN oerssn
Transactions With the Metropolitan Bank, New York
atesraned That the early part OF the month OF Fobrua
osnk, in behalf OF the Bank OF Central New York two
notes o. HEM Williams Co., due May g. for s2T $50
S sno sz'see respectively The notes were endorsed
oy Mr. Mstie.on individually, and a. President
Of the Bank Of Central New York, discounted by the
heuopohtan Bank upon the endorenent above men
Toned and The proceeds passed W the ~ OF the Bank
Of Central New York. This q the ran. "a which Ne
hArxtcn calls dhoountng Of the notes New York BY
nm as President Of the Bank Of Central New York. aud
redpcoupting for the last named bans the fact being a.
wiz appear presently, that the notes question never
went on the books Of the Bank OF Central New York sna
exposed by mo a. hereafter stated must pause here
Tor moment 10 pay proper tribute 10 Mr. Nai.esous
yeracity strictly and literally true, that, 70 aAe BIZ
language and his italics the proceeds 70 the crcfu
81 the bank AID not 70 my lhinl eredrn
II 10 10 be regretted however, that Mr. MAitesoa al
not 50 further and inform us what became o, pro
ceeds was unable 70 learn 1t New York IN what man
ner they had been used but the which ensaed
on my coming 70 Utica led TO the discovery that on De
this money by his Official check a. Pres,aen,' ser
winch he has not yet accounted 10 The hank
aa any form nc o rsm.lnne proceeds O tho as
return to Uuea. In the following way He axi drew Ia
individual dran for the amount through the BANK q Uucs
On .ne metropolitan hAnk and mat being vsarnsd unpaid
sum to the credit Of the BANK Of Central New Yorx m de
Metropolitan Bank, whereupon the cashier passed The
Of Central New York, and he used the same scoordas
1On the 2sth OF February arrived Al uuca led upon
Nj. informed him Of what had discovered, and re-
on hs refusing 20 70 do informed him thai sho1d hsys
the Board convened expose the ransacton and mast
upon DIS removal He warned me Of The danger az pro
voking contest with such he, AMI hndrne tha
the contemplation Of my rasAness did nos prcssce "a
my mind that dsmay which perhaps sny petition shsale
lave SAuseu, IcluSeteu me 10 delay The matter NIL
afternoon, that he nigh, ASCERTAIN whether he ooald
make arrangements TO purchase my sock ii Q pr.oe
which, at his request, fixed upon II. The sasesne nj
upon his not purchasing my stock or tia. attempted in
any way 70 use this Information him Into pur
chase Of my stock, intmated expected that wsuId
hood.
Tia. afternoon the Board convened, Mr. Ms..cscn Mr.
made my state ment and appeared from the books and
tne statement Of the cashier and TIE other d1cco that
no one Al me bank had ever before heard q the HEM
notes, or OF any such discount 81 New York upon the
credit Of the bank the whole Transaction havinx been
kept profound secret BY the Presdent Mr. Hsstsson
had been guilty Of what he mildly called ".schnical
but justified himself by sayns that Tie
bank had derived large benefits from hs connection with
i, and that he was, therefore, entitled 70 sAvors
had previously examined the books for Information
~ 10 the state Of hD account and replied thai his
account wac nen overdfsxn, stasement IN which
OF bis removal his account overdrAwn more than
nine hundred dollars. offered resolution 70 remove
him, and insisted on is being put nr. n thereupon
promised that the resolution withdrawn he would
before the close Of the bank Saturday the 2th Feb
make his account good and place in the Gathers
hands satisfactory eecury for the discount at New York
The directors present hereupon joined In request that
would not press vote my resolution, and considering
Of settling the matter yielded their request and with
drew the resolution and that night returned 70 New
York. The public can Judge how much truth there 10 IN
Mr. Mattesons statement that was compelled" to
withdraw the resouton and hAt he supposed and bad
reason TO suppose that was the end OF the natter
Whether his 'snrprise" at learning what was subse
quently done was was not genuine do not know i,
depends upon what bis opinion was as 70 the honesty OF
the Board OF Directors
same condition as when had left, and Tuesday night
returned to Utica and the Board was convened on We'd
nesasy mosnDe ~ true a' mere were 5us tnree al
only six, including Mr. Matteson, Mr. George Curts who
is for all practical purposes resident Of kentucky, and
Mr.. Ferry, in his place the Senate Albany Tho
three directors absent
by the by laws Of the bank three directors constitute
full quorum. The resolution Of removal copy OF which
is contained in Mr. Matesons statement, passed
nimously, the statement that Mr.. Rice did assent
being without shadow Of foundation. was agreed at
made public till Monday, in order enable Mr. Matteson
secure the bank and resign the Presidency should he
see fl 80 TO do.
The foregoing is plain statement Of the transactions
resulting in M Matesons removal. l have but few
words more to add-not to review In detail Mr. Ms,tesons
conduct a. President In other particulars but TO meet
he has had the assurance TO publish 70 the world.
Mr.. Matteson says-"I have had since ! became
President but one note Of my Own discounted.
son then under protest. The facts which led 70 the dis
counting Of this Zone nose az follows az am in
formed, and as the records Of this county will "a
well known and responsible gentleman was induced by
Mr. in the fell Of 1858, TO furnish 10 the bank his
paper for debt which Mr.. NJ should have paid receiv
Of the note, agreement that he ateson) would pay
the note at matarity fully II he the maker This
agreement he neglected % fuhl and the note having
been protested placed IN Mr. Matteaons hands for
collection the attorney for the bank He commenced
quit against the maker, who tnereupon brought an action
the agreement against Mr.. Aatteeon himself and OBJ
tanned order for Judgment To avoid the entry Of
Judgment and the issuing Of execution against himself
Mr. Mateson paid all the costs, discontinued the bank
suit surrendered the note The settlement not
communicated 10 the other officers. of the bank until
several days after had been effected, when Mr. Matte
cons note for the amount, endorsed BY his partner
handed in the latter and discounted 70 cancel other
note. This Mr.. Matteson calls having his note dis
counted ITO take up the paper Of another person then
under protest. AS in the Of the New York notes,
Mr. Matteson stops very abruptly in his history Of this
II transaction. viii follow the matter 10 its concu.
sion. Mr.. Matteson's note was protested at maturity
and remained several days under protest. and then
taken up by draft drawn by Mr.. against account
which Was partly made good by the $4,000 hereinbefore
referred TO.
lit 10 true Ahat Mr.. Matteson has had only note Of
hs discounted, equally true that at time since
he has been President has the bank remained for any
considerable period without owning large amount Of
paper discounted for his benefit and upon bis endorse
ment How much Of this paper, nomnaly that Of others
in reality his paper, as in the instance stated cannot
be dete rmined. GEORGE W. STANTON.
UTICA, March II 1850.
wah su ha.r ID Tho and