, 1866-04-10


John L. Hancock. Daniel A. Jouef, P. l. Cndcr-
wood, r. s. ENG, Gilbert Hubbard, L. D. Norton,
VA. Tuptn. -
The Badger ahar etill attract. considerable 1T
1enuon in financial e1rclcfr tut the comunents to-
day were chiefly confined to the supposed connec-
s,on which a. G. badger + Co.. had with the
transaction. The principal Of 1hat firm tfstl6ed In
The case before Jnsuoe Bso~n, on Saturday last;
Int The evidence which be gave, while It did nos
benefit his eoufin particle tiled alto to jnstiy
the flrn tn sppropnatnE the money wTonsfulty Oh
tained. OF B. Il Badger he ea1d:-~ His account
:" with u. had been overdzawu for long time; for
~ x0rt than tsfo w0HtAS, hrn certain. The amount
- $s10m-" Again, Mr. A. c. Badger saya - l
foun1 that he Is. Il. Badccr) had depos1led that
''maFnIns with us ssa, 100, shoueh when spoke to
him, did not know Of Ibis deposit lIp to khat
ID ftmt Ms eyedt ac1th good and would have
81 given him so 900 II he had asked 1or It. An.1-
~ ward. hastnR forced him to explain his roetion,
~ told h.m should pay no more Of hi. checks
- until tound how We stuod-"
There two or three points in the above testi-
mouy worthy Of attention In the nrst place. Mr.
L. c. badger tes,fnes that the account Of h. II.
Badger had been ovefdksHn - for more than two
month";" snd afterwards he contetses that up to
the morning on which the assignment Was made,
that his credit WIS good" These are strange
| statements for a banker 10 make. and the query
A4lulAA$ s-Uoe9 NECQuGEB Over
drawn Tor "moTe than two months - establish
+.Eood uedlt!" We have always supposed that m
overdsawn account at I banking honse damaged
credit: but here We have C4ec OF account being
oEetd1AHn " Tor more than two month";" md The
'Rood credit n Of The party maintained
But again, Why did A. {. Badger 4 Co. ashus
down" On b. H. Badger after he had made bt. ae.
connt more than gooe BY deposIting - 1907 What
right had they 10 throw ont checkn uhen they had
The funas to pay them w1ths We have no idea that
they knew Of the ftsnd s*hich wa pdpet1ated; and
yet the refusal 10 pay 4ny more chcck4, although
they bad funds le, stter paying the hrm+ IL snys-
tet,ouh.
The ruth IL, the evidence Is iaa! at justification
OF A. c. badEtr CO., In approptsahng 900 Of
the money which WIS ~rougsut'y obtained from the
Second and the Merchants National Danks. is
not honorable conduct On the part Of one man
toward another, md there Is tcarcelJ =
banker in the city with the exception.
pebsps, Of Mr. Wm- StprEes} who Is Wiling
to exonerats the hru from blame. Tn the morning
Of The ID dn<tant, Mr Il. a. Bsdger owe. the nrm
Of 4. Z. Badee1 4 Co. f9o 0O0, Before II o'clock,
&e6-100 ie deponted, and before o'clock N as-
eiEument has been drawn mp. The arm OF 4. L.
nadper 4 Co. hare been paid she go coo which vas
due them IN the morning, and the second md the
Mtrch&nu4' National Banks have been ewindled
ont of f:60. The sim IL not lsrre 1t is t1ue. but
there H. I principle involved which IL worth
grrat DEAL and We WIFI our tnnkets against
ttintng with ench natsete. 1t Is the duty o the
Glea1tnR uoute 10 capee an immediate iuyesIga.
ton, and A. c. BadEer Co. ehould BE- the nrst to
demand IT. AZ the casc now stands. the conmu-
nify look npon 1t ~ In the highest sense Of The
word dfshonor7ble eundnct. and unless tone4hins
II dc1e by the hsnkers to dlsarow the trxn,ac1on,
they may not have to wail long before the xauc
game viii be played On \ larger scale
The telegraph this afternoon furnishes ua with
neNe OF the failure Of The Banking House Of E. 5.
Fitch Nc have no further particulars, only That
1t IL thought that the bank n1N be ahie to pay au
| ttt liabilities.
The PhiladelphiR lngutner. Of Friday. ezys:
| We have At last dehMte account Of the condi-
lion Of the half oozen banks the western part Of
ihe laI!ure Of tne New York banking nrm ol Culver
"F,r.t among them Is the Crawford County Ma
,ional Bank. which poesesses paIa up caplla1 OF
k3o4,uo and SlN 100 in nonar deposited Eith the
I C1t'td otAses Treasurer as security for National
NJ. nd consequently nsr no National currency in
tirea,s:o9 !, r. hsa uolee ON a. SUITE bank 10 the
s;ss % &tsae .s% a Sa5 ?, ra1 gps 81
security bo1d1 deposited upon when latter 1t has
reeeI Cd ss5 ooo IN National currency L ha <1te-
COO Of old state tr%uc: outetandtn= The Petrol
ssrps @ @ ao~sfa reor:ana1ns "a a.a Saional naas 81,
no bonds had b en- dcposiied, and no aufhodty re-
stsie II 1,nx 1I has esp,ts Of lSs o sna Fl M
I .The National Bsuk, Of Lawrence County. at
$1U0,G0 0! tts old notes out Its Cashier out in
letter stating tnat thie tank had business rela
Tins S1;h G. p e. ;,,s sns no lo-s whatever viii
| 1homp:on's hank Note Reporter quotes the
above banks az tolto~e:
On Gtty Bank, on City, f4;:----~..-..5ss et.di+.
Eenaneo Bank, franklin, n ........ III y Ct dis.
/ Fetrolenm Bunk, Tlipss7he, Pa. ...10 + Ct dis.
Ali National currency. broken Or not... par.
The New York Hots5of Friday has the tolltWt.c
IN the recent corner IN Michigan southern, which
vac repudiased By Daniel DfcS-lhe chirf Tycoon
In the Enc InanipuAtons:
The Mlchtean Southern speculation was again
the feature Of The Stock Exchange to-day. and the
through the dav took The extraordinary range II
ono time 9i 1e psf cat 49, l. nc &c s,sssa Per eEn. @
oiaeisi deai;nes in The cash rtock s1 The resaiar
Hoard were At 10139sii 96.4GN per cent 4
resne Of no 1Hte 1ntes-f. and much turmoil was
Witnessed ii The 20 p. m. regu!ar Board, when the
defsnl! in the de!iveEie- came TO be rrported and
Officially scsued: That Mr. Daniel Drew.
a.O00 shans Of a Ncw.tlreei asm tone dsye 40,
ntd who had called for II. retum to-day, failed or
| refused io provide the stock. and had sued out
Neu.etreet lenders Of the fto.k and tho Presi-
DENT OF the Stock Exchange {s0. hobert- L. Cut
ungh restraining them from buying IN the s1ock
~ the su1ee Of thu Bard. the grounds Of hi. cx-
9ns eeeedss %sse y not n made pns
Mt. D3an>. who prc+ldet at the afternoon kce-
SION received IN order, direct from Nr.
GSs'neek c <. tss esossf tinmsa.ate'y 1e.oa
in fcr his accoun ee be had not been supplied With
The ttock tos delivery tu the prescribed eeason. This
w. warmly commended, and the t1ocls was bought
IL under his order few minutes before three
@ sFes esea sde soed a as
same way. and the Board adjourned, under the ag1-
tatton natural 10 the singular conduct Of one Of the
hlmsclf beng frequently a party to what is knoxn
A. the corncr1ng operation on Ed= sock, Of which
or bear. ~ bis interest and Commanding influence
nnd po-ion N this particular concern may for the
time. tecm 10 dictate
The Ne~ York Tribune has the tolos1us on
The same enhject:
exctteDeng1oday, growing ont Of The speculation
In Michigan southrru. II appear. taat some tine
e es psv1 e. Of
Of STOCK, Nhlch VIE sold. it a saled, for account
of Mr. Daniel Drew To-day tho re'urp Of tbs stuck
ED tnat, failing to delirrr II, would te bought
in fot their account, under the rule Mr.. Drew on
the Other hand, took another ana different course.
ttact. sbrongh nls bIo}sct, at he never fatl< to
tetst ehall be done, when diff race is due n,
toned to Judpe Mccubu, "ho Granted tenaosaty
Injunction aCx,nel Aetere. ~cott. Capron i t'o.,
and the 1cetdent OF tue stock Exchange. or either
OF them, restraining them IRON hnynl: the rtock
LOT hss aecocnt. Al The Second Board the question
w 1al.en whether the aock could be bought IN
1e tee in'e. an injunction having bfcn sesred. H.
1.,dc u Gas't E. Ess Pze-'den. Of tue poard, then
Injunction had been rsrvcd uuou Scott Capryo &
us cut toat tic held urtpr 10 buy fnr fssle4beck
Co.. 1W eharcs Of Michigan eouthern on lis
account Which ~as done Ut yeX for lid Iot bY
leading honse IN William erect. wSo otIered es,ly
tar price. Tic c-urse OF Mre.rs. Groeabect = IN
IN this Transaction MES unanimously approYri TTs
| elmp1e statement that Ar. Drew Fe-orted ia the
| fours 10 escape dilemma IN which be has -
often plsced his opponents, needs 10 Comment.
His 1rndir in ths past have becn tnadf teCure by
the oh1sa ions Of honor, which the Saock Exchange
| mercht rtt In Se~ York. The r1nge or prices in
this stock tsae bcen f,om 1Bs. cash, down 10 seax
cash, a. D. IN. The speculation bus INDICTED teT3-
| our losses upon the street. and ~cltque move-
| mehts " OF conspttac1ts are not in favor.
The Koehester UezaoerR, OF Friday last, has
The following particulars Of the failure os Wald
| Co.. bankcrs:
| The doors Of Ward 4 Bros Banking House. cor
ne1 Of St1te ktreet and Exch1nge Pac were cIoeed
| yesterday mnfntnr. The asrfEnees are LcH Il.
Ward, EEa n. paEsons and ". A. Wate18, all Of
whom nre eentlrrreu OF extenFirc business cIpe-
r1crce and We eniestkn no doubt ths ,he asscts Of
the sutpe1tcd fEm v Ill be converted n such man,
bpt1on among crtdftnr- Il IL understood that the
liabilities Of Wht1 4 Ersthez xmount TO more than
II If Eaia that the firm exp.ete their belief that
rhfy seu pay, even now. ninety per cent, IL not
c1oTded tu tauthce upon thetr Assets.
AZ arr tot1y TO ray thai large proportion OF the
]ost1s srr pestpus IN moderate ctrcam STANCE
- a1rxNT T3Re anil thhtH .%$.r%