The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-22
THE TENTH NATIONAL BANK.
Final Close Of the Argument-Sevcre
Structures Upon the Financial Policy
of the COMPREHENSIVE Early Decision
Prom Iacd m the Case.

Final Close of the Argument-Sevcre
Structures Upon the Financial Policy
of the Comptroller-An Early Decision
PrOmIsed in the Case.
The argument upon the application for per.
emptory writ of mandamus against the Comp
troller, directing him to issue bonds for the pay
ment OF s252,OOO claimed by the Tenth National
Bank as balance due for advances to the new
Court House Commissioners concluded yes
terday before Judge Donohue, OF the Supreme
Court. Ex-Judges Edmonds and Davies and Mr..
Henry II. Anderson were present on behalf OF the
bank and exJudge Porter and Mr.. John S. Strahan
represented the Comptroller.
CLOSE OF THE ARGUMENT.
This fell to Mr.. Anderson. Although it was to be
supposed that the legal GROUNDS upon which the
application was based had been pretty we'll ex-
hausted in the elaborate arguments OF his associate
counsel he managed, as will be by the points
advanced by him, to submit entirely new questions
to the consideration OF the Court. He began by
arguing that this proceeding must not be con-
founded with proceeding TO actually obtain the
money. 1t was not the good faith OF the claim
which was now to be passed on, but whether
they had a claim under which there was a
right to call on the Board or AppOrtonment
so that proceedings might be taken against him to
compel him to pay the bank. In that proceeding,
which must be taken after this the justice OF their
claim might be in issue TO be lltlgated; but the
policy OF the Comptroller seemed to be policy OF
delay. Under the act now disputed the Comp
trOller had issued some seven and half millions
OF revenue bonds and a further sum OF eight and
hall millions, All payable TINS autumn. Chapter
OF the Laws Of 1872 directed the issue OF bonds to
pay this Indebtedness. Chapter 20 amended this
by providing that where bonds were already au-
thorzed the debt should be paid out of such bonds,
and not out OF bonds specially authorized by chap
ter Q. Justice Barrett had decided that they were
entltled to De paid out OF any unexpended par, OF
the bonds issued for the Court House. There were
$4,000 of such bonds in the hands OF the Comp
troller after the bank had begun its proceedings
Annts fhn Nn.lrt tn
was IN substance given, yet the Comptroller had
paid out nearly all the proceeds OF those bonds
(more than 9.500) to other claimants, after the
right of the bank to the money mad been made
evident An extraordinary suggestion had been
made YESTERDAY by MI; Green's counsel. that the
constitutional, and so the bonds we're void.
To maintain such plea would be a disgrace
full repudtation-worse than the Mississippi re-
pudlatlOn which once cast so much oboquy on
American finances. If the act authorizing The
SIG 500 900 OF revenue bonds was declared uncon-
stltutonal ana void they might appear in the tax
levy of this year, and might, in accordance with
Mr.. Strahan here interrupted, declaring that he
had not contended that the law was unconstitu-
which the claim was made was, and that he could
show that the legislation of 1873 legalized most OF
MIR. Anderson, resumng, said that he had
listened with something like horror to this
proposition of rePrdation, C9ansers argu-
because 1t affected both city ana county debts
it was unconstitutional and void, and not that any
clause in 1t was so. The law, however, was more
merciu than Mr.. Green. The title OF the Clerk
was Clerk of the city and county OF New York; the
Chamberlain belonged to both city and county; the
Comptroiier himself was Comptroller OF both the
financial business OF both was so nterlaced that
the act providing for the debts OF the city and
county oil New York really related to but one SUBJ
ject 1t appeared by the respondent papers that
a proper demand had been made on the Board
of Apportionment by the Court House Com
amount OF $5OO,OO0, and that the Board of Appor-
tiOnment had neglected to authorize them. Had
that been done, ana had they been now applying
for payment, the afiidavits furnished by tine re-
spondents might have been pertinent to the ques-
ton. AT present they were wholly impairment,
and the REALTORS mad only answered them because
they we're unwilling to rest under the suspicion OF
fraud.
10 evidently being conceded that all had been
said that could be said on both sides, Judge Dono
hue took the various briefs ana other papers SUBJ
mitted. He promised to render decision at an
early day.