The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-09

Bank Examiner. visited the Tenth National Bank,
~ and information IN his power. Tue result OF this
invesIipaton as presented by Mr.. Tappan yester.
day TO the Clearing House Association, AZ special
meeting called for that purpose Out OF member
snip OF s,xy-onc banks representatives from nltv.
four os saa wss sse
Rotary. The report oil Mr. fappan was then read, as
f0l0ws:-
day rysouton was unsnaousiy adopted requesting
behalf Of the committee by letter OF the chairman, to
sas the IGm ne Gan rs Ssd ~
report possible 10 said COMMITTEES beg leave 10
por that. IN with naas A. aeiss Bank
presented the letter, requested be
action This rsqasst was Granted and the eown s facts
Mr. H. s%6 Ss AST n the n SSrs
Bank $4iOo.Oco consisting of checks the following
Tank Of North 81 200 COO
&ecaanes Bsntias Association l dsSSS5
Sans o. ,ne H9mmSn s0o cog
These checks were added 10 the excianse, Of maj dsy
which, in addition to between five and six thousand
e 'ss BY S
was paid into @ the purchase
was paid On na' An nas s%s' o
s esa. q S s s% a Sa y
AK u aa d snss5 s and s On f @ A
deposited drawn cash on the day OF the last deposit
Mr. Palmer. the President, stated that he know
drawn from bank and that neither personally or as
preaden OF the BANK nor the bank become
the custodian of any portion Of said funds.
ss that he had had
from but this connection II thar on
Sa s.y soi ns fsp2: Il wnsa y e:
statement there appeared to be necessity
The President and Mr. o. H. r Archer, director OF
the bank present during the examination
great regret that the bank through the
its dealers had Furnished cause for action the part
its associates In the Clearing House. and
transactions of similar nature would in the future
place through II.
made to expel the Tenth National Bank IRON the
Clearing House Association, and the sentiment OF
about one-tnlrd OF the members present. seemed TO
lavor such action. But, by various amendments and
resou ions offered and debated pro aud con, in
consideration OF the testimony OF Mr.. Palmer and
the fact that other members OF the association,
equally guilty, had been passed by before, and that
10 would look like nasty and partial action to expel
the bank for tins offence. the following compromise
resolution was adopted
Resolved, That the Clearing House Committee be ana Is
hereby directed whenever appears IN It's Judgment that
legal tender have been withdrawn from
the agency of bank memoers OF this association to
immediate examination the bank In
and should there appear to 10 completely the of the
bank officers suspend said bank from this Clearing House
until action of the gssocation shall be taken thereon
This resolution is Intended, OF course, to put ana
to keep the Tenth National on It's good behavior.
a telegram received at the Clearing House apout
four O'Clock yesterday afternoon IT appeared that
the House OF Representatives, by resolution, in.
slructed It's Committee on Banking ana Currency to
Tor persons and papers. Meantime Mr.. Smith has
his millions locked up In some safe deposit other
INSTITUTION where he will keep 1t until his purposes
are served or ne ascertains That they cannot be.