New-York tribune., 1874-04-25


allowed on deposits in the future as shall be war
ranted by the profits of the institution and notice
given to the depositors If the depostors will exer
else reasonable orbearance for six 10 months under
this regulation it will give the institution time to
recuperate from the misfortunes of the past and
add largely to the safety of the depositors" The
Examiner recomends the closngiof the Donsuppor-
ing branches and states that measures are in pro-
gross to this end. In conclusion he asks that Con-
gross will still exercise fostering care over an In
stituton which has done and is still capable OF dong
80 much good to the freedmen.
The examiners report upon the Washington
Branch contains the following:
The amount due depositors at this Branch Jan 20,
1874 s3siO9a Examination of trial balances of the
deposit ledger shows the amount due depcstors to be
less overdrafts sOs59 leaving amount OF bal
ances according to general ledger, sI5,7e5.
In regard to these discrepancies, the Examiner
says:
believe them to be eatirey the result OF gross
lossness in the keeping of the ledger Many OF the ac
counts are entirely duplicated having been transferred
70 other edgers without being crossed out of the
inal accounts Thus in checking Off balances, two or
accounts would appear TO be open, and one depos
itor would represented by two three balances on
the balance sheet fud that deposits and drafts have
been made by dealers and the amounts not passed to
their in the ledger until several months after
sentaton OF pass-boOks Under such q system it is
impossible prove tho books by checking back all
the entries the opening OF the bank and the branches,
or by calling III the passbo0ks. Either would be labor
OF months but the other should be done. In
some instances debts have posted credits and
credits as debts. 1 cannot ind any Improvement, as
far the branch bookkeeping is concered the result
showing difference in the balances twice that OF one
year ago.
The Examiner, in his report on the New-York City
branch saws that it is well managed but that its
surplus, like that of the other branches, goes to
Washington to the main institution. Manager
Harris exhibited considerable anxiety" the Exam
iner remarks. "as to the workings of the parent
Office In the reports on the other branches the
greater part of the the deposits with
the Washington Bank. The general report is dated
in January last before Frederick Douglass took
charge of the institution as President
The schedule Of the loans made upon miscellaneous
securities shows very questionable transac-
tons and exhibits the loose way In which the busl
ness of the institution is conducted. The following
arc few transactions in which the securities were
such as a broker might perhaps deal in, but arc
manifestly improper for a savings bank to invest
the money of its depositors in:
Two thousand seven hundred and thirtyfve thousand
dollars on chattel mortgage furniture in st. james
Hotel, Washington; no interest since 1871.
Three thousand two hundred aud fifty dollars to j.
b. Stewart on five thousand dollars Union Pacific
bonds stewarts ownership disputed and suit pending
! for bonds.
! Seventy five thousand dollars to Central Branch
Union Pacific Railroad. secured by contract for pro-
| ceeds of sales Of lands In Kansas.
Fifty thousand dollars TO Halet Kilbourne and j. o.
Evans on seventyve thousand dollars mortgage bonds
| of MARYLAND Mining aud Manufacturing Company.
! This is the famous Seneca Sandstone Company
/ Three thousand and five hundred dollars TO ]. NJ
Brown thousand dollars stock OF Detroit Car
Loan Company.
Twelve thousand dollars to James C. Kennedy, on
twenty thousand dollars bonds OF the Maryland Mining
| and Manufacturing Company no interest paid
Numerous loans ranging from $500 to $4,000 each, and
| aeerecatipg large sum, TO Newman and Middleton
certificates of Washington Board OF Public Works. of
! very uncertain value.
one hundred aud fortyfour thousand one hundred
and sxY-four dollars TO j. V.WVanderburgh, on Board
of PuOlic Works Auditors certificates, and District OF
Columbia bonds Of the face value OF s63,O2 he first
are now worth not more than 60 cents on a dollar)
Two thousand two hundred aud fifty dollars to f. II.
Gassagay on two thousand dollars stock Of American
Seal Lock Company, and two thousand dollars stock
Capital Publishing Company.
Two thousand four hundred and eightyhve dollars TO
+ H. Gassaway. No security.
Three thousand dollars to- Hae Klbourne, on note OF
the National Junction Railroad Company OF $2950. No
interest paid
Five thousand dollars F. W. Brooks stock OF the
International Steamship Company ia visionary lobby
scheme). No interest paid
Three thousand two hundred dollars to Charles b.
Bailey, Treasurer, on N2,5W stock OF Young Mems
Christian Association.
Three thousand and twenty-five dollars to Representa-
tive W. j. Purman, on $4,000 Florida State bonds.
Fifteen hundred dollars to j. W. Hayden note OF
Seneca FreestOne Company.
Nine thousand dollars to ]. o. Evans, account OF
Treasurer Magruder of the Washington Board of Public
Works.
Two hundred dollars to the Hon. W. j. Purman, on
81 900 Florida bonds.
Three thousand six hundred dollars to W. g. Hunting
ton on 70 shares American Seal Lock Company.
Two thousand nine hundred and sixty dollars TO H. T.
White on $3.50 bonds OF Congregational Church. Wash
ington.
Among the loans on real estate security in Wash
ington are large unprOductive property out
side the city limits on which imaginary values are
placed The following items in the list are of in
terest:
Thirty-three thousand dollars to Gen. o. O. Howard
President and Henry d. Cooke treasurer Of Young
Mems Christian Association.
Twenty-eight thousand five hundred dollars 10 the
Washingt Club.
Seventy five thousand dollars the Howard Uni
versity property
Twenty-six thousand dollars to X. T, Fleming ON lso
shares Young Mems Christian Association.
Bills against coored schools amounting to s72oOO and
real estate notes.
CURRENT TOPICS AT THE CAPITAL.
THE DEBATE ON THE GENERAL APPROPRIATION
WARRINGTON, Friday, April "a, 1874.
The debate on the General Appropriation bill in
the House to-day largely upon the items for the
support Of the Agricultural Department. This
| much abused branch of the Government escaped