New-York tribune., 1874-03-20
THE TRIAL OF CALENDAR.

RANK EXAMINER MRIGs STATES THAT THE OCEAN
NATIONAL BANK WAS INsOLvENT BY A MILLION.
At the resumption, yesterday, in the United
States Circuit OF the trial OF exBank Examiner
Charles Calendar for accepting brbe OF s6OO ior re-
porting fayorably upon the condition OF the ocean
National Bank, National Bank Examiner Meigs was re-
called and he testified that he had examined the state
ment book OF the Ocean National Bank; that In his
Judgment the books show that the bank was inolYent
on Oct and 4, ISL Ex Judge Fullerton objected 10
the witnesses giving the result Of his Judgment ana
Judge Benedict ruled that he must confne himself to
telling Just what the book in question showed ana that
it was for the Jury determine whether according to
such showing the bank Insolyent on the days men,
toned The witness then said the book showed that on
Oct and 1871 the assets OF the bank did not dner
materially from its assets on Dec r. 1871, when II faed
1t shown from the book that on those days tne
the bank amounted to 350OO aud that after
paying all its liabilities, 1t mad surplus OF $4,000 The
witness asked If he knew tile value OF those assets
securities about Oct 1871, and answered that
with few exceptions, the assets securities had no
quotable market value and that they were not worth
within 100000 OF the amount stated in the book
The witness then stated that he had discovered an
rregularity real estate transaction. where real
estate said to be worth 32GO had been taken as secu
rity for money loaned when 1t not worth any such
sum- The witness also said that the real estate
sold for a great deal less than what takenfor
and that its alleged value, $4,000 credited to the
loan account. The crOssexaminanon elected nothing
new except that Mr.. Meigs had only general knowl-
edge Of value OF Portage Lake bonds Marietta aud
Cincinnati bonds susquehanna bonds. Grand Rapids
bonds and Decatur and Mattoon bonds, and other col
aterals gwen by Calendar for money borrowed from
tho Ocean National Bank Mr.. Purdy resumed the d
rect examination and asked the witness what kind OF
report he would have made If he had examined the
affairs of the Ocean National Bank, on or about Oct 3.
lS7 ExJudge Fullerton objected, and the question was
not allowed
Re-cross-examinaton-Q. You say that the Ocean Ma
tional Bank was insOlytnt Oct. g. l571 by over
SlNOOOOO how do you make that ont A. BY taking OH
the following amounts from the items stated "a assets,
From the item OF loans 8l0)0OO; from the items OF bills
discounted 100000; from the items OF Portage Lake
bonds $4,000: the item OF Brunswick and Albany
Railway bonds $1,000 from the Item or Susquehannh
bonds $4,000 from the item OF Decatur and Mlttoon
bonds $1,000 from the item OF 1leState sOOOO rom
the item Of furniture, &C., slOOO; from the item OF ss-
pense account 2OOO0 from the item Of suspended debt
900; from item OF expense account siGO0; from
the item legal tenders, s5O00) from the item or ds
crepancy account Sj9; from the Item OF general bond
account, 100000; total, Sll55,ll9
f. d. Tappan. the President OF the Gallatin National
Bank testified in su0Stance On Dec IL or IL, l57 the
ocean National Bank owed the Clearinghouse about
s83 O and on one those days Calendar told me that
the Ocean National Bank WAS solvent and that II only
needed little assistance to get Oh, of little dlhculty
ne said also tnat would few days obtain all the
money it wanted; the Gallatn National Bank then
agreed loan the Ocean National Bank enough money
to pay its debt to the Clearing house.