New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-10-13
WALL-STREET.
THE GOLD EXCHANGE BANK.


As the public is naturally interested in the
affairs Of the Gold Exchange Bank brief description Of
its method Of clearing gold transactions and expana
ton Of the cause of the complication statements may
not be out Of place. Statement" is the exhibit made
by dealer Of his transactions during the day. It's
simple printed blank showing on one side the amount
he has purchased receive and on the other that
which he has sold and is to deliver. On this statement
he enters the name Of each person to whom he has
amount Of the transaction opposite the name,
first in gold then Its value y. por Snr5enSy
by the tickets which passed between dealers for
every transaction the clerks check OIL the names OF
balance Should the purchases exceed tho sales the
should the sales the contrary exceed the purchases
the Bank pays the deaor out OF funds deposited by tho
Thus it viii be SEEM the duty of the Bank is simply
clerical The complications arose during the
business sir Of almost every dealer Now as those who
nossbs 10 tell Il" how the stood and as
quence the statements Of the sound dealers were mere
nearly every statement made, and 1t thus became
nice question with the Bank whether TO strike
these names Out-ignore them altogether-or wait, MI
cawber like for something to turn up" Eventually 1t
was decided to strike them off, and this portion OF the
During the panic the Bank had advanced money to
dealers who subsequently failed, and IL Is on this
ground that the Receivershlp was applied for. As
the directors remarked the only for the Bank
to escape this dilemma Will be to pocket its losses But
inmated that defaung tdealers were to be sued Inc
the VIII this moHg at
present there little hope that Their prediction will be
fulfilled. Unless something be done by tile Bank before
tomorrow it is the opinion OF many dealers that
the proposition now pending before tho new Ork
Gold Exchange for the establishment Of new clearing
house will be adopted.
THE NEw-YoRK GOLD EXCHANGE BANK--AT-
TEMPT TO FORCE Is INTO INVOLUNTARY
BANKRUPTCY.
The following petition was fled on the 1st
instant by certain creditors Of the SewIork Gold Ex
change Bank, to have that bank declared and adudi
10 g Ho s.xTEL b. .ICagoR6 Ja9 o. es Dt;sie Court Of
Th petition and Edward TAege Of the City Of
NewYok respectfully shows that they creditors Of the NeSiok
EswYok organized carrying the business Of banking and
9S ps SsG S Conducted business the CITY and County New
York that petitioners demand proyea6e against the NsTfok
Congress entitled Establish Uniform System Of Bankruptcy
i sT. Ss the ' s sai Go sSags Bank an
amount eIcednghe s that petitioners dAni exceeds
against The said SexYorS EIcs1g. follows Yoa
bank the and tue sum Of $500 81
goo ana On he e a. Gay q % @ If tb % SDo s
the Of si3s927u and $500 IL in gold esyiag
so in the bsSds Of bank payable petition
donssasd ION ts ~ E,TYort Bank the saa MONEYS but
that the said bank neglected ssd rsfa.sd and s neglect. and
And Your petitioner; further repfsssa, ai within calendar
ssa acts 81 G,nEPe su eoptsmnIop bSLisptcT
.oa Dhs 80 5sk de 2L Of septsbr 1853 al he CITY Of
F-wYok made payment transfer Of the 6'm Of DIsl
winthrop being the corporation and the said payment
tors or with TIE intent By poop property
delay the operation Of this act In that being . or 1sST;o
Bank the 2h Of septemb 1863 THE City kewio
500 500 the said Da, spahr being creditor o,ho said
ton na the SAID OF 9H Is saS v ,os e ndS
other property defeat delay the operation Of Tbs act 10 that
The sad Ss~YoI Gold Exchange
ony the sfS oSsn RANDALL HoGsoa 70 the amount Of
TIE said corporation and the said payment o. transfer beng
@sd WITH ts intent Intent b b 'eooD 1ssI o,Ory 70 s
feat delay the operation Of @ act In that being bankrupt &c.
money to the arm Of Bowles Brothers
gold BOw Brothers Co being creditors Of the bank and the said
bankrupt &c the bank 18Th of payment
creditor Of the baps AID the said payment or transfer Be n made With
TIE &C. Ia that being bankrupt &C. the bank the 2
Of money the frm of Lockwood Co to an amount
s slee soa IF % he unable to Co..
being creditors Of the bank and said pAymsr. being made With the intent
September Jas; made payments or transfers Of MONEYS to ne tr@ Of
o ana @snSa s 20" M CO. nd the S d,selor, and yDU
intent &c In that being bankrupt &C. and having made the
t. gP,5y to sS Taken on s I SG' rs. s na 1 1
op Commenced in the supreme Court
on Of Charles Osborne an alleged creditor the bank
property Effects and the order appoint
thew ss now engaged in transferring said
franchises Of the where
pray that the bank be declared bankrupt aud
take 81 s estate that tue same
according 10 law and that such further proceedings
may be Law IN such eAsss prescribe.
ERNEST OFTEN
EDwARD q. TAEGE
Uaited States Of 1u,ra S-We Ernest Oen and Reward q.
TSg the petitioners boyenamed do hereby .eeTay make solemn
Sa that he statements contained tho foregoing petition
W true ~ far the stated On our own s
those matters which stated therein on Information ana Oehti
10 the best Of knowledge Information and DeeL
E ESs.1D O g T.sar Petitioners.
Subscribed and to before day Of October 1863
yoHs FfTCH, Register.
this petition Judge Batchford granted order for
the bank TO show cause why the prayer Of the petitioners
should not be granted the made TeturnaDe
the gth inst al which time tue adjourned
18th INST without any action being On the
18th INST counsel for the bank appeared court but
counsel for the petitioners failed 10 appear Counsel for
the bank informed the Court that there was no intention
the part of counsel for petitioners To appear by
mutual understanding, 10 had been agreed that the pro-
ceedings shall he discontinued The Court then made
order Diminishing the proceeding No cause assigned
for the dscOntnuance, the arrangement being entirely
VI " private DBiurs