The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-10-03

defendant would have 90 30 into hquidstion and de-
ssd defendant IL nsolvent That deponent yester
dsv present in said bank when large number Of claim
and deponent has been informed believes TO be true
that many OF said csimsnts' lawful demands for moneys
sworn to this ID day Of October, $780, before me
JOHN BSRSn, Commissioner Of Deeds
NOTICE
Take neiice that, upon the summons and complaint in
this action "a copy OF which 10 here With eervoA you'll
and the annexed affidavit shall apply to Of the
ices OF the Supreme Court, NJ special term thereo
be held the chambers Of said Justices on the
day of Oclober 1850, At ten O'Clock the
day. thereafter be hear for
order that said defendant be declared nsoven and ,hA
Benjamin Camp, Of No ll6 Madison avenue near Thir
y first street. In said city builder, be the
ceiver Of the property Of the defendant, With the usual
der az - the said Court may seem proper Yours &C.
49,, Attorney e. plaintiff. No. lss Nassau street,
Dated, October Z, 1860. City Of New York.
To toe above named defendant
Let the defendant show cause according 70 the above
notice. wA Il. LEONARD.
satisfactory 10 me, by the complaint In the
above entitled action and BY the a avit Of the plaintiff,
that sufficient grounds exist therefor and that tho said
plaintiff ia creditor OF said defendant banking corpo-
ration located and doing business IN the city county and
State Of New York. having ademand exceeding hun
dred dollars viz, u the amount Of four thousand
hundred and sixty one dollars arising upon debt or La
Ss T.. sss y Ss T d 70 ,@
rous times deposited by sad plaintiff with said defend
ant aud not withdrawn from said defendant, assigned
by said plaintiff and that said plaintiff the LIST day Of
October $780, the bank place OF business said
defendant between the hours Of O'Clock the
and three O'Clock In the afternoon OF said day Wiz
At half past two O'Clock In the Afternoon presented
cbeck, duly signed by said plaintiff directed TO said de-
ar ,ss
and paying teller Of and said defendant refused pay
said check or said expressed therein, said plain
tin; and, in my opjoon, the facts presented il
being expedient lin order prevent fraud or inustce)
do, therefore, order euon and restrain said defend
ants and s officers from paying out or in any way trans
terripg or delivering 10 person any money assets
Of such defendant, mourning any debt obligation
until this order be vacated modified aud let sad
defendant SHOW caase before at special term of the
Supreme Court, TO be held at the chambers of the JUS
tees thereof at the City Hall of tue city of New York
the third day Of October ipstant O'Clock the
forenoon Of said day why said restraint above ordered
should not be made absolute, continued aud why
the raid defendant should be declared nsolvent aud
require the officers Of said defendant aud any and oil Of
las books papers, accounts assets and Effects TO be
amined on oath touching the same before me- at said
SHOULD No. Be granted g shall seem proper rov.,
There are great many mistaken ideas afoat concern
ing the public moneys which been deposited in this
bank Some people are Of the opinion that the city will
suffer to great extent by this stoppsge they think
that there 10 sn large amount lief. deposit there
Az far the city funds concerned they entirely
beyond any possibility OF loss from the affairs OF this
bank. On the 10Th September, ult. the last public
money on deposit In this bank was Withdrawn by the
City Chamberlain and official notice that effect served
the Mayor and Comptroller. The following is the no
fcation which the Chamberlain served on these public
officers
CHAABERlaNs 0yrIcE, ARTISANS BANK
NEW YORK, Sept 20, 1850.
bonds the Park Bank as the place OF deposit Of
al moneys belonging TO the city county OF Ne~ York
or under my charge ~ Chamberlain, on and after this
date and have discontinued all deposits In the Artisans
Bank trust this change will be satisfactory u your
self and the public NATHAN C. PLATr, Chamberlain.
The gross amount Of city funds in the bank was
about one million Of dollars, and In transfer
ring that large sum OF cash TO the Park
Bank Mr.. Piau bad hoped to alay public excitement
This In fact, was his great aim, pablo fears had been
loudly expressed for the safety OF these moneys II may
be well to state that the laws Of the city and OF the
State give absolute authority the Chamberlain put
the public moneys any safe place that he may choose
and the Mayor and Corporation have power him
In this respect Mr. Patt is not only City Chamberlain
but he also President OF the Artisans Bank aud the
prompt action he has taken In reference the public
funds be has shown that he Is gentleman well worthy
the confidence Of the community and especially fitted for
the responsible Office which he s The stoppage OF pay.
men by the Artisans Bank could not however have ar
feced these public deposits In any Mr. Plat is
sponsibe for the moneys the city keep
ing, and the whole million Of dollars had been lost for.
ever Mr. Platt Ia Of independent wealth, aud Il Is
confidently stated from his own fortune OF over two
millions Of dollars he could easily meet the unfortunate
emergency.
The difficulties which led to the failure OF the bank are
only OF last years accumulation. Those who suppose
ha, the bauk has long been In danger Of s,oppage WILL
Il s said, dnd that they greatly mistaken. Political
influences and the jealousy Of persons who had
pectcd the appointment OF Chamberlain from
the Mayor, 70 the exclusion Of Mr. Pait have been
the Of the pressure made upon It's funds and
It's consequent failure. The upon the bank for
the last days has been than excessive, and
the combination for rs destruction was every day
becoming formii liable, the authorities resolved
10 close, at least for q time. In doing 90,
ni th, the bank was not forced 70
adopt that course by means OF the outside force Alone
but simply stroke Of policy for selfprescrvation.
The deposits in the ArssAns Bank amount 70 81 oo5,
al3; ia circulation sos ia iu Specie Sass 43i and
It's loans 81, sT3 500 There Ia no doubt entertained
by the officers that the bank will be able 70 pay
every dollar Of It's liabilities Ia Assets quite SUN
Gent for this purpose II thought that the stock
win be sucien, to everything and yet TO leave the
in 1856 and Mr. Tooker who has been the cashier for
the last three four years. expresses the belief that tho
aralrs OF the institution WILL In very short time, be
placed upon satisfactory footing whom the bank
viii payment, and perhaps increase ito capital to
. million OF dollars
Some persons think that the republican party will At.
tempt 10 throw blame the Mayor this matter,
II he could prevent tho failure Of any bank In the
city. They win doubtless say that he knowingly
placed the city funds In rotten bank.
But, - have shown, the Mayor has no power
whatever 10 the deposit Of the city money and there
fore held responsible except for the appoint
ment Of the Chamberlain aud In 80 far a. The ndeiy Of
that Officer concerned This 10 the duty Of the Mayor
and appointing Mr. Pait he has fully aud satisfactorily
discharged TO the public for there more rcspous
BILE gsntcman this city, financially and morally, than
The present City chsmberlain.
The Park Bank vh:h for few days pas, has conduct.
ID ths exchanges Of the Artisans issued circular 70 the
other banks, informing thcm that the arrangement
longer force and terminating their responsibility for
tho balances Of the Artisans The stock Of the latter