, 1866-05-16

REPORT OF THE CLEARING
HOUSE COaMITTEE. :,
Decision against A. C. Badger
s Co. .

Decision against A. C. Badger
s Co. ).
ThEY ARE REC0AMESDED TO GIVE
BACK THE MONEY.
Letter from 4. G. Badger 8 Co.
Below will be found the Report Of the Clearing
uouse Committee on the caac Of A. C. Badger s
Co. Tho report Was adopted by the Clearing
House, and copy otdczcd u be furuished to each
Of the daily papers:
The committee appointed BY the Clearing House,
under the following resolution.
:" WaxBxAr. II: c. B. E1air, ca behalf Of rho Mer-
& M ssak I'd H. asa4 ssa.t
Co, ha1a e1pressFd Willingness to have The opnisn
6 @ 1as y &c &c
b 3. Il. padges, rom nrom the Metchaats' National
t6e ssesoa Eat!oa.i 5snk I'D ~ hin depess.ed win
the aIm Of a. {. Eadgez i Co.'S the third lass..
= Rtsosssd That committee Of aye members Of this
Horse be app9tnssa ot Fhsa The PEssldent sha!l BE
case md thstf opipson upou tho respective rights ot
having Investigated the facts Of the case, have
come 10 The following conclusions; ~.
1. Mr. B. Hutchtucs Badger who IA a consiu al
the Meferr. Badger. Of tb< urn Of 4. q. b1arcr i
c.. has sssu e1'--osisely engaged, bcsiaes biz
onsr opeta'tc:,., III nuy1n: aud forwarding gold 70
Msss1s. Il. q Badger { CO.
2 That for the lat three mouths that account
has been genet ovetdgaWu, at tho close Of each
day. ios y Iey conadesao'e saaas, frequently exceed:
3. That Whl1e It Is cl,imed that this aeeoa
was generally made good, The suecesdiag morning,
~ EnrSx
70 Messr.. a. t. Badger J. Co. IN setll1ns with the
Clearing lionse from The deposit uckets exhibited
70 - p hees5s. A Z. Badger Co., We arc sasis..
| operation by which Nr. D. Huschtngs Badger was
enabled to avml himself Of the accommodations
sxssnaed 70 ninn ~ n. hi cousins without assaa5
settling lheir baiances with the Clearing House,
and that. consequently. it Is fair to cay tha, the &C.
eopnt 81 " !. uatehings BADGER vlih Ms.sts. 4.
ior large amounts, from January !, 1855, to the
| Cd Of april. when. It having been made
| good By money oo,sinea By Mr.; b Hntchings
Bauks. ii waa cIosed By Mr. i. 1. BADGER, at tbe
time Mi. g. Huch4pgs Badger. IN an interview md
ith the former, iu'osmea hin Of his in5olvens con
4. It's IN evidence that 3tr. Il nutchsnss Balr-
* canmcncca business with little or no capital,
him business facilities. and recommended him 10
oaler bankers as strictly honest and reable uan,
aEo assured Them leal shey ccAld make jn:t snch
truu:ar11cns NTH hin as those innde BY he Second
National and Asrchauts' NalloDal banks on the
! third ultlno.
I s. 1t Is in evidence that easd Mr 3. Hu,caincs
badger bad been IN 'le hao1t AZ least occasionally,
on New York, 70 BE- accompanied BY express rc-
csspts for The gold npon ~hicn they were based, in
aa nnde2 the TO- pa he
| cefp,s IN the afternoon. That be had nad such
,Iansaclloos With both the Second National and
Merchants National Banks before, and thar Mr. a.
Y. Badger Lad assured ar. Tukhlm. Cashier ol the
Second Narlonai Bank, that such transactions nNh
VI: \, Hlleh'nG: bahgef would be perfectly ssfe.
ard that be could rel upon the integrity and .Air
dealing OF Mr. y. HrtchiuGs Badger.
e. 1t Is IN evidence that The uornin. Of the Sd
81 Anns- NJ. y; Hatea1ngs Badger on.s1ued
, TON ,hs Aeishants ';a National p.nE s1asM IN
/ from the Second National BANK, upon lhe promlse
10 bring in tho receipts fox tho gold to BE- sent to
Ncw York By e5p1sss thar same day. and imuaedl-
a!eiy Gepo4 tied the eame with Meser.. A. e.
Badger E Co. That shortly attesward oe went into
the Office OF Me:sts 4. Z. Badger Co., and in the
co1rFe Of an interview GROWN. out Of q crsual IN
guis{ made By ~. a z. Batlgct, relative to a
check. disclosed his insolvency. yet tnstslne that
he had made provision fnr all h1s checks, and that
| they should be paid That 1hereupun AIr. Il. q.
should see how nat1ers Htood between them, and
At thai tune. Or N the courte Of the day, he
iealne- The tacts in relation to the money Obtained
by Mr.. q. Hutchings Eadger, from1the Two Nation-
/. That these iSo Nsisoua, Banks demanded Of
Aes:rs. 4. c: BADGER = Co.. that, under the ctr
oofeined ftom them a. before staied BY Iii. B.
Huichiugs Badger, and depo4iied tia. morning With
Messrs. 7. badger Z 90. That lho latter declined,
| part Of Which had been paid out OF tho aoDosii
made that noEning, and that Is bankers they could
not 60 back Of deposit TO inqulae vherc hels de
po.Noys' money came from.
T. four committee opinion that while bank {,
cso1ot be enpposed 10 know Whete his customers