The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-18

OF Others and make the deposit on that day A. 1
said before did not know whether was going to
draw out all the money again or not.
q. You certainly had some purpose, because you
sent up notice to Mr.. Palmer that you wished to
make deposit after bank hours, when you had not
auy suspicion; but on the next day you had. What
was your purpose A. The original purpose was
all within myself; had the right, thought to do
IL; the purpose was to collect all the funds had
ana deposit them in the bank, and, thinking the
brokers' would see large deposit, they might think
that there was
GOING TO BE LOOKUP,
and thought II they got little frightened and
stocks went or In the morning would buy little !:
but later In the day, when saw the feeling aroused
among the bankers, and 1t was currently reported
that some one was going to attach jay Goulds bal
ances Immediately drew my checks and got them
certified.
Q. As understand your answer Won desired to
tighten the money market and cover your shorts;
tell us when previous to this 4th OF April, you had
CONVERSATION WITH MR. PALMER2
A. do not know that lhad seen him within a week;
do not remember positively.
q. DO you remember saving ANYTHING about the
policy OF the bank for q week before; did you not
say Il guess money Is getting too tight, and You
had better call In your demand i0ans9n A. No Sir;
sent word to him that afternoon by some boy, and
went into the bank and stayed there and
ENDORSED THE CHECKS OVER MxsELF
and then went back to the street.
z. What conversation occurred between Mr..
Palmer and yourselfs A. very little, If any;
there might have been some
q. The deposit was little more than an ordinary
deposits A. Yes, sir; was quite busy In writing;
! had to write the order on each check and was
kept busy while there.
Q. DO you swear there was no conversation with
Mr.. Palmer while there A. DO not swear there
was no conversation.
q. Did you not say,
~ PROPOSE TO CHAIN THE MONEY MARKET To-MoR-
ROW 7"
A. did not.
q. Did he ask you what you intended to do with
1t A. No, sir, he did not
q. Then you swear positively there was no con-
versation on the subject of this deposit A. There
was no conversation to what l TOup tn In
with the money, or as to what was my purpose in
putting 1t there.
q. You swear there was no conversation upon
that subject A. Yes, sir.
q. And that he did not ask you any questions I?
A. do not Think he did; did not give him any
satisfaction.
q. AS a director of the bank are you not very
often visiting it A. ! go in sometimes in the
morning, but not very often.
Q. Is there not board of directors, and do you
not have meetings of that board with the Presi-
dentp A. There is a President of the board, but
do not know how they manage the whole thing; l
do not pay much attention to 1t.
Q. You say the Tenth National Bank had an un-
ordinary business A. | cannot
q. 1t seems by the testimony of Mr.. Palmer that
there was credit OF 5000, 600 or 100000 besides
your funds? A. do not know why that should be.
BY Mr. Merriam-What is your relation with the
HEADS OF THE PUBLIC DEPARTMENTS
of New York who keep accounts at the Tenth Ma
tional Bank; for instance, the commissioner of
Charities, the Police and Fire Departments &c.Y A.
have no relation with them whatever.
O. see that they drew on the Sd OF April 800 600?
A. do not know anything about that
G. We find in this account of the Police Depart
the habit of making deposits in this bank at differ
ent times. The amounts are $4,000 and $4,000
and on the 9Th, the day you locked 1t up there
no deposit made by the Commissioner. On the I'd
and Sd they had drawn out nearly s50O0oOs A. |
do not know anything about that.
q. Is Jay Gould directOrp A. He Is.
q. Was he aware of your intention to lock up
this money! A. i do not think he was.
q: Was any officer or director of the bank aware
of itg A. There was not one of them. | had
thought of this on Wednesday afternoon. never
told any one of 1t. 1t was
WHAT CALL DASH, THAT is ALL.
BY Mr.. Farwell-Have you restored these funds
to the street yet. A.. Most Of them.
BY Mr.. Hooper-You are a director in the bank.
A. Yes, sir.
@. OF course you took the usual oath OF director
A. Yes, sir; think so.
Q. How often do the directors meets A. think
they meet on Wednesdays and Saturdays.
@. Is there generally quorum present2 A. Not
always. do not go very often.
IAN NOT VERY GOOD BANK DIRECTOR.
BY Mr.. Merriam-You say that you saw that they
would attach Jay Goulds balance A. did not
say that; said there was rumor on the street
that they were going to do so.
q. thought you gave that rs q reason sor draw
ing out your money! A. said heard this rumor.
q. Would til, attachment OF 100000 have had any
effect on that bank A. did not SAL that was the
only reason that made me draw II out; 1t only
fastened it.
gone to the bank ascertained how large an amount
he had in the bank than to take out this large
A. did not stop to think whether he had 500. 900
or half million; the mere ruInor was sufficient
for me; think need not explain to you that u
man does not want to have large an amount OF
money tied up;
1T MIGHT BREAK HIM vERx QUICK IF HE HAD
O. But il is evident that You took risk. The
sequel shows that there was none. A.. think the
bank would have been safe II they had not been
tied up themselves.
BY Mr.. Hooper-You made this deposit after
banking hours on the Attn OF AprilY A. Yes, sir, on
Thursday.
Q. Did you take any bank book with your A. No,
sir.
O. You had no evidence OF the deposit9 A. /
knew the deposit was made.
O. But you could produce no evidence. A. made
the deposite and went away; did not take any
book with me; 1t is customary with me to do as
Q. When did you take the money away A.
Friday.
O. At what time A. went to the bank little
before three and was told they had not proved
their money and had not counted it at the "Clear-
ing House; that would have TO wait; presented
my checks az soon as went, and
WAITED UNTIL THE MONEY WAS COUNTED;
had given the check in the morning to Osborne
which they did for me: | gave the check on the
Tenth National Bank and got the currency for
Sl,000,000
BY Mr.. Cox-Do you say that this Tenth National
Bank had nothing to do with this transaction of
yours A. Nothing at all.
q. Nor JAY GouldY A. No. sir.
O. Nor the Erie Railroadg A. No, sir-nor any
other person.
@. You were using your own money at your own
BY Mr. Merriam-How do you account for the fact
that the President of the bank
CALLED IN SEVEN HUNDRED THOUSAND DOLLARS
THAT MIGHTY
A. do not know anything about IL. ] did not
know of it at the time he did It,
Owe know that he called in large amount OF
money. What was the cause OF his action on that
occasion, and thus aiding you in causing strin-
gencyS We want to know whether there way any
understanding between you and the President
in regard to his calling in these loans.
A. Tuere was not the slightest understanding
between us. / did not know it at the
time; i might explain why he may have
done it,; since Mr.. Palmer has been
in the bank. / have never had speculation OF a
dollar with him. He is very careful bank officer,
ana that is why we trust him with the bank so
much we do. He is thoroughly trained to the
business, and, without knowing what was going
to do, but seeing that ! had deposited large
amount of money. He might have called in the
money
TO PROTECT OR STRENGTHEN HIMSELF.
do not know.
by Mr.. Cox--when were you first advised that he
had called in this large amount A. Saturday morn
ing, think.
BY Mr.. Farwe-Then IT. IL your impression that
your large deposit induced him TO call this money
In A. do not know anything about IL; II may