The New York herald., 1871-12-17

GU0-N0
Sclopments Yesterday.
About the various suspended banks yesterday
there was less excitement tnsn at any time since
the panic commenced. The publication OF the state
ments Of assets and liabilities OF the Ocean ana
Union Square banks seems 10 have quieted the de-
p0sitors. Those OF the former II Is believed VIII
lose but little At least such Is the opinion OF mem-
bers Of the committee now engaged In an examina'
tion OF the securities, and the receiver, MI.
Davies. Nevertheless, strong feeling Is
prevalent among the creditors Of the institution
thar It has been most dlsgracefully msnaged, ana
that Nj. Callenders connection with 1t was very
suspicious. His certificate OF examination In
which ne pufred Ine institution In October, was
found by Mr.. Tappan, Of the Clearing House, ana
this led to an examination, resulting 10 unearthing
his paper In the bank and the action OF the Clearing
Mr.. iappan. who was requested by the Comp
trOler Of the Currency to make an examination and
report upon Cailender's connection with banks.
SO ousy that he has been unable TO enter upon the
task; but ne will commence on Monday and make
his report to Mr.. HulOurd. 1t seems to be well
established lhat his paper is in the Eighth National
as well In the Ocean and Union Square but 1t is
not known whether other banks have made MIN
Az the Union Square Bank yesterday there was no
exctemenL the dcpositors beng satisfied tnat ney %
is careful business man, gets things in shape the
same cheering news mas gladdened the creditors Of
the Eighth National Bank, and while Receiver Man
has not been able to prepare, as yet official ex-
hibiC OF Its Affairs, he eels sangune that each de-
The action OF the Clearing House Committee, in
bearing testimony to the soivency OF the Bank OF
and no further trouble Is anticipated 1t IS be-
lieved now that the alarm that threatened to De-
at an end and that there Will be no more failures.
How Bank Examiners Are Paid.
To THE EDITOR OF THE HERALD
The numerous condemnatory lucubrarlons hurled
kN~n nrr
rency, for his alleged participation in the causes
leading to the recent suspension Of the three ma.
tiona banks OF this city, by OF the retention
In office of Bank Examiner Calender, having failed
to evoke any defence for the action the premises
OF the former named 0ff1cial, have presumed upon
your well known reputation OF doing every man
justice TO say word in such defence.
The bank examiners, or visitors. are appointed
by the Comptroller OF the Currency, with the ap-
probation OF the Secretary OF the Treasury The
law stipuates that the compensation for the ser
vices OF examiners snail be "s5 per day for each day
by him employed In such examination, and 81 for
every twenty miles travelled in the performance
OF his duty" to be paid by the banks examined.
Persons OF prudence, honesty and high order OF
capacity, involving q complete knowledge OF book
keeping and Of accounts, are required Tor the rapid
performance or the duties OF appontees. They
sesst eyerx aS specss OF ISeTv nSt NAV be
tempted TO be practlsed by associations under In
The labors Of such ofncers are usually severe
sometimes necessttating night work as well as tnat
OF day. while the impertunrbabie disinterested
me condition Of banks Is iaugulns and consuming
The proper one cSaracteristcs and services can be
obtained only from those long experienced In com,
merciai l.e and only by the allowance OF liberal
compensation.surey not ior the paltry pay OF IS
per day ana mileage.
in view OF the disabilities Mr.. Hulburd has been
peIent examiners ana IN the execution OF this part
OF the Currency act be has evnced more than ordl-
nary skull. Many most careful Investigations have
business capacity OF management and Kind OF securi
ties taken In loans. Many fraudulent and illegal
practices have been "nlpped III the bud, and the
banks saved from the cOrmOrant tendencies OF their
officers; deIacations found out, abuses and irregu.
larites exposed and corrected. The annual fixed
compensation for the office Of Examiner of
New York and Brooklyn is fifteen hundred dol
lars-a very small sum, considering the grave
and responsible functions OF the once To meet
CURING expenses and ordinary aspirations the ex
r. %
thus city the banks have been IN the habit making
voluntary donations prOpOrtiOned to the labOrs per-
formed and results attained. the amounts respec-
lively depending upon the character OF reports so
producing larger gifts. Under the skful manipu-
fanons o speculative bank officers Mr.. Calender
was "bedeviled," seduced. and, possibly has par
ticpated In no small degree In their losses and
10 prevent future turpitude In the ofice OF the
New YORK Examiner, let the compensation be COM
mensurate with the duties and responsibilities OF
the position. and capacity and integrity required.
Mr. Huiburd has heretofore urged Congress to
make provision Tor this purpose. without any iavor-
able results. The Clearing House Association Of
this city has very properly demanded the deposition
| OF Mr. Calender, who Is the proposed successor.
| Can any competent person be found who will un-
dertake for 81 500 per annum tine laDOrs of bank
examiner, rlskng the excoratlng criticisms OF the
newspapLrsY
| Ii this association Will designate such person.
arranging to pay him such salary as the case
merits. l have no doubt Mr. Hulburd would
| be pleased TO make the appointment. Your
1 correspondent was for several years the
| first on1cer OF most successful national bank.
| This institution under repeated rigid analyses OF
| bank examiners, was pronounced TO be the fourth
good condition, OF all the kindred associations
OF the country In this position and since, he has
mad abundant opportunity OF judging OF the fitness
| OF Mr.. Hubourd for his position, and submits that
to him Indicted for the satisfactory working
sof the Natonal Currency Act, and the small losses
SUSTAINED by customers and shareholders by bank
failures traceable to the sagacIty and fidelity Of
| this same officer Of the Currency Bureau.
| r. G. d.
| CONTARINl, THE BIGAMiST, CAGED.