New-York tribune., 1875-12-22
CANAL AFFAIRS.
MR.. THAYERs BROKERAGE BUSINESS.
QUEER BAHKING-HOw THE TROY CITY NATIONAL
Ito YuR,a

MR.. THAYER'S BROKERAGE BUSINESS.
QUEER BANKING-How THE TROY CITY NATIONAL
LOANS IT'S MoNEY-THAYHR's AvFyCTrosATI
INTEREST IN THE CLAIMS OF RING MES-oTHKs
CREDITORS NOT so FORTUNATE.
IBY TELEGRAPH TO THE TRBUERI
ALBANY, N ". Dec. 2l.-Ihe examination oi
Auditor Tbayer was continued throughout most Of
the day to-day before the Canal Investigating Com
mission The interrogatories ranged with the search
ing audacity for which Mr.. Mag0ne's questioning
has now become famous through some of the worst
transactions charged against the witness, and the
latter and his counsel were somewhat astonished oc-
casionay by the unfalterng precision with which
the questions hit the places. The negotiation OF
certificates not the only subject Of nvest cation
during the day. a new matter wherein it would ap-
pear first sight that Mr.. Thayer was even inter-
ested in getting heavy appraisers award through.
having come up for examination. In this claim II
would further seem that most of the Troy City Bank
men interested. The President, Mr.. Pierson,
held power Of attorney from the man in whose
name the award was to be obtained, and Mr. Gale.
the attorney Of the bank, the lawyer who rep
resented the claimants against the State in the hear
ing. The claim has far failed, because, it -
stated one of the canal appraisers mot Thad. Z.
Davis refused his concurrence on the ground that
was "tOO big nigger.D The connection OF Mr..
Thayer with these operations is already pretty fully
developed and il is at least an additional presump-
ton of the evidence to state that the original claim
ant is Mr.. Thayers mutual indorser" and business
balancer.
One of the strange developments elected by the
animation Is this fact of fnanciering. hr. Thayef
is director in the Troy City National Bank. He
has been In the habit Of borrowing from this bank
certain sums OF money, aggregating some hundreds
of thousands of dollars in year, upon Canal Com
mssioners certificates In many of the transactions
tho bank did not hold him responsible fof
the return of the sums so borrowed, the
understanding being that the bank looked TO
the certificates OF to the State for payment, but not
to Mr.. Thayer. Early in July last Mr..
Thayer bought Of Willard johnson the latters
famous certificates, aggregating about $o0,0oOIat
discount of nearly ten per cent or $1,000 less than
their face value. About the same day he borrowed
from his bank in Troy the face value and accrued
interest of the certificates 50 600 or $4,000 moro
than they cost him, transaction which, consider
ing that the certificates or the State to be held
responsible for the loan instead of Mr.. Tbayer looks
like an imposition upon the bank well a. the fair
dealing public.
The examination will probably be continued To-
morrow and the final hearing Of the ease before the
Commissioners of the Canal Fund will take place Oh
Thursday 1t is one of the safeguards of the Treas
ury enacted in the law, that the Commissioners of
the Canal Fund can take no action unless their
meeting is attended by the Controllers and thus II
falls out n the present instance that Controller Hop
kinss presence though not necessarily his vote, ~
absolutely necessary the passage Of any resolution
recommending the suspension of Mr.. Thayer Com
mon report claims that the two are bosom friends