New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-03-09

yoSas and Discounts-The stock notes held by the
Oa Is,s ap" Mone Rsrehc lawful money reserved
made necessary by condition of the bank on the Gay
OF exanin M hsnk sos5?i II
Amount with redeeming agent........ sS7 "a
showing deficiency of reserve of........ s22s2 tS
cen,roi R,,aorks- The foregoing state
ment of the condition of the bank is the same ap
pears on the books OF the bank submit II because ~
balance This however is erroneous in many lmporaht
particulars shall proceed TO point out wherein ~ =
incorrect and TO make such EXPLANATIONS as are e9u9u
Items and Of Ny eHaminan9nd m beS 1 f
fall shOr, of the amounts given in the statement y inc
sum OF s2On 81. Two days search has mol enaDle1
, ,S two principal items Of
oyerdra are one Of j. Morrison 1e[ GA s Ivy Rn 5 %,
,6 Ssg s % S sd to be Secured by bills Of ads
a" adng are in possession of Mr. Rutter the President
oi the bank, who is absent at The North Hereafter
fu statement Of the assets Of tie bank which Mr. Rnt
attention particularly Invited full list Of the over,
crafts j. inclosed here with, marked Appendix D."
Hca Of Resources Due from other National Banks
fr ps the National Bank of the Metropolis Washington
d. c. amounting TO $6ls250. 1t will be observed that
National Bank on deposit from the State Of Tennessee
in fact the identical money ana securities hd re-
f Tennessee deposit, and almost lmnedate lhere
@e on he 2 ety SI Ssn Of WSshston
without security Il will also be observed that the Na
Ge es Of the forescnS statement has accounts
, the books of the Tennessee National Bank ny the
f Of these accounts (Which is called special there
appears 10 be due from the National Bank OF the Me-
iropols the sum OF s6lSO a. aooTe sSrG, a RIM y" .
other there appears 10 be dS TO tuo noncti mo
the Metropolis the sum OF S39lOZ2 a. Deuuclihs .ho
gSr""r # leaves the sum Of <222i 50 due from the Ma
tional Bank Metropolis 10 the tennessee NalOha
"q me- LATER bank to depend upon tue ability of the
er to pay this debt, and shows the necessity on an
bonds and securities on hand."An OF the securities
composing this item that have been able to lind are as
80 Treasury notes ESQ
-icck Of tie National Insurance Company of Mem
>d Pi, Of the Mcahis and Ohio Railroad Company
ge sfP . and tennessee Railroad 'O''
company, due Aug H. lsgo- I'oOo
Total
This leaves deficiency in this item of $1,000 which
the sAier expains follows viz $500 OF the stock OF
515 A 5 r "a of lr Rer; <oS6 in some
other security 0he cashier does not know WHAT. also IN
d." posse ssicn of Mr. Butter. ~
The secuncs above named the item Of $4,000 stock
oi me National Insurance Company Is Of very doubtful
,"Ing men named Campbell and Cary, who paid $500
ir an charter, under which they aro now operating
money j. known 20 have been PAID III on th! StoCh
Vccp' the sum OF SlO0O by Mr.. Ruter lol Wh IN ths
oC Is hed as wi i d COMPANY has in
use IcDg Is - Res0urces-"Casn items ana Revenue
At least one half Of tLis item would properly
.."neir under "suspendcd debt" Ii consists Of
.ilndry overdue checks anfnOes, and among wnch Is
to.s her matter stated MOI than $4,000 are
current checks and drafts. which, with petty expense ae
,.,uut cnustitut, legitimate leash items" Item2 Of
IfqLiiifGs-" Circulating notes on hand, amount
ct STgs sfieme S1fs - s55 While the amount
,ctaaIiy found in the bank il $3.50 ouly. The
notes signed 10y him. aud taken aWoy 10y hi Ku'er
en- his journey North, as he ALLEGED for convenience 10
d. .iyod while absent Mr.. In ter mas, however once
returned a. Memphis since the notes were taken away
part Of Them has ever been returned IeaS9
.,f ,n enS IeSa Of LiaJGides--" Capita"I
viii Aft
marked Appendix A. relative 70 ihe eala' soUh anu
il will appear that the total amount o money lid TO-
wSrG i nS,es Te held by the bank part OF which
are maturing after having been renewed, ana IL ..
part overdue amounting t0..''.''''.''''' oo'0"
Making total $4,000
ockboders who have given their and assured
20 paw those notes that they given at the request
II Mr. kutter. between HON ana e9 ms ~ Ia
aud take the stock 10 himself whenever they shaA IT,
II viii be noticed that many OF the small notes are
overdue also, that dividends have been PAD on ihtt
mart of the stock only foI VII c cash has been PAID IL
snnarent 20 me that large part O the notes gwen Tor
stck are Valueless, and known 10 DC So ana so con-
la red by oil naTties connected with the bank Item
~ liabilities state OF Tennessee" - This deposit.
amounting SGls2JO wac obtained ia June last ana a1
that tune The expense account Of the bank - charged
with abouf ~ 900 Tor expenses incurred in Nashville TO
secure the state penal bond was 9yeu ia inc sum oI
100000 before stated the whole deposit Was al once
transferred TO the National Bank Of the Metropolis,
washington. forbear making amy comments. a..
The following list OF the assets OF III" BANK III Tue
possession of Mr.. Ruter the President who e absent,
fnurneyiDg ii il said Tor pleasure with mis- family:
Bills OF lading on cotton III Philadelphia; .,oo .,
W. Morrison. sslS ~
e e4tiGeste " OF stock IN lie ic@s %
other security known 10 the casinor.- 10000 %
60 1t tSs should be added Mr. l;Gters isoiiityt5
the bank, as follows, viz: ri, In0randu!n stock
check FOR oVJ w
stock note 2SV w
&C. 527 ii
Mr. Rutter Is said 10 be ia NcW-IOrk, and may be
heard of at the CrotOn National Bank.
In view OF the facts developed by this examination
am compelled TO recommend a further Withdrawal OF
United States deposits TO the amount OF about $4,000
viii he an ple and also that Instructions De sent 10 The
Reyenue and other officers at this point 10 make their
future deposits In some other depository
eiOned1 JOHN BILL, Exapiper
To the Controller OF the Currency, Washington ID. C.
1.-THE National Bank OF the Metropolis" OF Washing
ION TO which the Tennessee school fund OF Ss2O was
70 promptly transferred without security, was, Ut tho
time OF such transfer, rapidly approaching Insolvency
II was shortly aferward placed In the bands OF a
receiver The loss Of this money oceasoned an inveSt
cation by committee OF the Tennessee Legs ature, by
"a bcb IL was developed that the State Auditor and Treas
prer had been brbed by Rutter his agents. in order to
obtain the deposit II also appeared that certain Con-
.rossnen were implicated, which, 10 some. may explain
why the fraud was not pursued further.
Among the witnesses who have testified before The
banking and Currency Committee are Examiner Bull.
George H. Hutter formerly President OF the Bank james
", Uoweustein and gentleman who - now clerk 10 one
OF the House Committees but who was, M the time Mr
p,ulls report was submitted, clerk III HE Currency
bureau Mr. Bulls testimony FUZZY sustained t"e