The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-21
serious that his absence was soon noticed. or all
times he ought to have been on hand then.

ana an examination was at once commenced.
until long after midnight last night, and Il was
finally discovered that Carleton was defaulter
beyond doubt"
ITO what extentr
81 do not think that 1t will amount to over
$500 900 at the very utmost"
"Can you give me an idea OF what kind or man
Carleton was" al can. He was, l should say,
about twenty eight years OF age. He was one OF
so FAY avn be SaS me- aa e least il
he had there never was anything about him 10
show that he had About two or three weeks ago
he lost his wife, and the sad event seemed TO OPP
day
wEEPINa LIKE CHILD
and when I spoke to him he scarcely knew VINO
was for short time. He lived In Brooklyn, ana
believe he has two children"
"DO you think he has lett the city ?'
81 have no doubt Of it,"
"What did Carleton do that brought about the
delalcaton-l mean what special cause was there
~ think he got into stock speculation and was
borne down In the Storm that we have been VII
pany occurred he knew that he would be dis
covered, and, therefore, got out OF the way"
A short time after the reporter had this CONVEX e
tective Samson and two ward Oficers,n OF the
Twenty seventh precinct in plain clothes,
became engaged in conversation with Mr..
wesley. The latter, in his Excitement was
to tSs n uRR
clew to Cartoons track and mean to get hold OF
him II possible.
Is THIS TRUEp
A gentleman who Is depositor with the com,
pany, whom the reporter met at the entrance late
in the afternoon, stated that the company would
never have gone under for an hour had II not been
for the government. He said that on Thursday at
noon 81 ZOO 900 In government bonds were sent TO
the Sub Treasurer, with the request that he would
advance on them 81, 900, 600 and when the govern.
ment sale was MADE TO put this 900 900 worth OF
bonds down as t1e lowest od for that mount no
''rhis proposition was refused" added the gentle
man, ''and so the folks went under"
There was rumOr about the ONCE, Ii may De
added, that Commodore Vanderbilt had on Thurs
day promised to lend the company 3d. 100000 In
essa Sa rsS sH fS'
Commodore's friends connected with the company
deny the story IN toto.
clare that the suspension will last but for day or
80 at the very longest and that the assets Of the
be Certain to get dollar for every dollar due hum.
even though the deposits were greater than they
really are. -. 8 s. =
made statement to the HERALD reporter, In
which he said that at the last monthly meeting of
the directors report was submitted by which the
time he said that the last dividend othe Lake Shore
Railroad had been paid by the Union Trust Com
pany. and that the railroad company Is to-day IN
debted to the Trust Company sl,75OoOo; that
George b. GrinneL the partner of the ate Horace
Clark, was indebted to the Trust Company for
money loaned on security not less than $40O, 900,
ana probably more than 5000, 900; that s365OOO had
been loaned to Wall street broker on railroad
stocks, worth at par $4,000, and that Mr.. G. T:
about twelve O'Clock yesterday with not less than
100000.
The Vice President OF the company, Mr. Augustus
Schel, was seen yesterday evening by HERALD
reporter, and the various points Of the
him. He said that the $1,75oOOO was
paid by the Union Trust Company, but
That only part OF the money was out OF the COM
pany's funds; that u portion Oh 1t was borrowed TO
MI out the required amount, but that the Lake
Shore Railroad did owe the Union Trust Company
that Mr. Grlnnen did not owe the com.
pany more than 100000, he. thought and
that the loan to the Wall street broker lad not
come under his notice; but he presumed 1t was all
right as the securities were in the market. AS 10
to say what the amount was, but Mr.. Carton had
disappeared and there was undoubtedly q deialca-
ton.
Suspension of the National Trust Gem
pany.
Generally speaking the public has borne up
under the financial depression Of the past two or
three days quite heroicaly. With the exception OF
the slight run on the Fourth National Bank and
Union Trust Company on Friday, none Of the other
banks seemed to he affected. Yesterday morning
however, when the Union Trust Company an
nounced their suspension, run was made on the
National Trust Company, located at Nos. 261 ant
zoo bTOduWuJ. foyluculS were freely Uauc uQDl
at noon, wren the Executive Committee, at g
meeting held for the purpose, decided to recon.
mend u suspension. Notice or this fact was &C
cordingly given, and further payments stopped.
NJ Darius X. Mangam the President, being inter
rosated rs to the immediate cause OF the suspen-
sion, stated that lowing to the tlghtness OF the
money market the securities held by the bank
could not De converted into cash unless 1T a fear
iul sacripce Even government bonds could not be
negotiated unless Ut great loss. Wine the com,
very heavy account oil collaterals, including
$500, 900 in government bonds, wnlch, under ex-
listing circumstances, would compel US to
suner terrible slaughter il We mad listened
to the pressing demands OF excited depositors,
hence our directors AFTER mature deliberaton,
concluded = to adopt the wisest policy possible
that OF closing our doors temporarily until the
rates OF the money market Will warrant us to dis
able TO meet every obligation, and not single
depositOr VIII lose one larthing; but at the pres
ent moment 1t would be SUICIDAL to commune bust
ness until some o. der was again established
The capital stock or the National Trust Company
is $l,o0o,Ooo and among its directors are many
wealthy merchants and capitalists; many OF them
individually worth mucn the wealth OF the
company and more.
The following is a list OF the officers OF the com
pany ID. X. Mangam, President; B. L. Solomon
Vice President; q. 4. Bancroft, Second Vice Presi
dent; James Merrill, secretary. Drectors-Darius
X. Mangam Benjamin +. Bancroft, Thomas Christy
William +. Allen, George Buckham, Norris Wins
low Thomas Cornell, Silas II. Wltherbee, Thomas
W. shannon, Napoleon J. naines, John R. Cecil
Solomon, Alfred b. Darling, Robert II. Berdell
George A. Fellows, william b. Shattuck, Lewis j
PhilHps ]. Ii. V. Arnold, Jacob S. Carter. Willard
Ives william S. Whitlock, Henry G. Carter, Rober
A. Forsyth James Merrill, John L. Melcher, Charlie.
G. Landon, George 9. Lake.
suspe nsion OF the Bank of the Common
wealth.
The suspension OF the Bank of the Commonwealth
created q great deal Of excitement and all da,
long crowds gathered about the building specu
latng as to the OF the sudden closing OF tn,
doors. HERALD reporter called upon Mr.. Ellis
the President, during the day, and asked him wha
the real reason Of the suspension was. He mad,
the following statement
1.-THE suspension has been caused by the fact tina
Mr.. Edward Haight, OF the nrm Of Edward Haigh
Co., yesterday overdrew his account abou
&225, 900. Besides we had little run us yester
day cau5ed BY the run across the way on the Fourth
National more than any thing else. II was only
dipping Of the run on the other banks however
and was so slight that the public were not aware
oft. When Mr.. Haignt's over-draft was discovered
], myself went TO his business house, and asked