New-York tribune., 1875-02-13
THE SALE OF A TWEED BANK CHARTER.

SUIT FOR SERVICES IN SELLING AN OPPRESSIVE
BANK PRIVILEGE-JUDGE CURfISs STRONG DE-
NUNCIATION OF TIE TRANSACIIoNS-TIE CASE
DISMISSED.
Suits arc occasionally brought up in the
courts which reveal new incidents Ia The Tweed regime
and there is which has ldieY appeared
for a moment tho calendars and sunk from
sight again 1t was the Of James H. C)nant against
Dorr Russell, President of the L,auers' Bank. The
counsel for tho bank Sowe Psarce. the latter
an exSate Senator 1t appears that Dill was brought
into tho Assembly incorporating this L)lnefs BANK
formerly tho Pawners' Bank Tho charter, which al
lowed the bank TO charge two per cenl MONTH
named seven incorporators, and when IL was paSs'u
In the Senate eight dummy" ncorpOrators we're added
Conant sold to Russell the charter OF the
bank buying out interests of tAo incopordtors-l5
In number counting the dummies-for S4jOJo ana sues
now S25OI. which is 10 per cent Of the whole sum-
His story is recital Of the selling of the franchise
which Legislature granted by the lncorporaiorS
motion was first made by Mr. Sewe To disiniss tho com
paiut on tho ground that IL was contrary TO puDHc
policy to recognize right of incorporates TO sell
such franchise, and tho contract WAS in violation OF
public policy but Judge Curtis denied the motion, ana
Conan took the stand. lie said tGat lac first came into
the employ OF Mr.. Russell through Mr.. Browh' INC
President OF the American National Bank, who
recommended him TO go to RUSSELL Ht th"'
time Vice President OF tho bank. He, tho
"o''''
of Tweed Henry c. Genet and Thomas j. Creamer'
who he believed. Senators at that time, ana VINO
represented thorc eight interests-Tweed hYc, Genet
two and Creamer one Tweed said he wOdld part with
his interest for s. VOO the others wanted sOO I"ecu
and his friends wanted to into the bank themselves
At one time Mr. Russell desired him. in tho Fall OF 1863
TO procure the charter Offering s!j0)O forlt C0haht 10
have s2OO or per cent OF tho Whole sum- Inc "tnesS
said he met Mr.. Russell frequently in regard 10 H.
daolp ~ in
Tweed who represented several OF the interests ho
was engaged altogether about 40 years In the rasac
ton as there was o delay about getting the uasis"
ments of the incOrporatOrs and the DanK was hot f
organized until 1870 Mr.. Sewe asked from "h'cn Vi
the incorporaors he obtained assignments OF thc III
terest in the Charter and the witness said tha ONO was
George B. stoarns He really got the assignments ol
the incorporators named In the bill through tnelr
agents. The maindcr OF the seven lncOIp0rdtOrs
were r. T. Miller, Allen NJ. Wood, cyrus CiAfK MS r2n m
procured the other eight assignments from MI INe''
Henry G. Genet, ana Thomas j. Cfeamcr' some le t ~
1868 or 1869 Tne witness added thlt Tweed ahd Hehct
each gavo half OF one OF tn'lr luierysts 10 'Ao1.'
Senator Pearce, that they could orSahize OF c,p to
gether at Albany. THey were AFRAID thcy WOulu lOse
The Charter they did not have meeting Wlnlh tCI
tain time Judg Loew also heid SIX OF n Sc interests
After Mr.. Stearns. OF the regular hcOrpOrItos'
had testified there was such contract WIN Pr
Rus ell. bat that he himself had never Doen Ptu @ tno
s. SO which each Of the lucOIp)ratOrs were 10 Het
Judge Curtis dismissed the COMPLAINT ia " lc" NUNS
LAS understand this case" he said "it seems that
certain Senator'S under tho names OF other para con
trued majority OF interests in charter cohlerIn.
The privilege OF exacung intercs: as hiSh a. Two per
cent "A month a thing q. it--.f anlr@Ssir, SSi Thci Is
not IN conformity wIQI the policy OF the law IAo ue
cntaHt was tO pay S25000 for TINS ChGrleI Ilc P"ii
tiff aciei as bTOSor agent 10 puicHa'o ~
conferred with these Senators, tue money wa"
paid over, and interests Whch tncJ roI
Jrollrd aud which represented by names uS9if
mated as dummies transferred for thS utIepua
bcnpft This Transaction, II - lnceptlD1 was Il
fraud on the puUc the act OF these Senators was
ons fnev sustained 10 the pubic. II what is stated Oy
the Daiuuf true, II an infamous tDlh- anu tue
enforcement OF in any respect or OF any service III
IN enforcement carried out by any act OF cpuIj Oi
J,rv uf NE administrator Of justice in all civilized
plrt, O.. the world cannot SEQ any reason WY tHS
plaintiff }, cut!ltd 10 recover TIe services perform
were Ia the ultncranco agreement or contract ia
iseif ifaud ana great PuO1C Wr0bE ana one 10 MnlcH
the Court directly or hdrectiy De party CoM
| IuL n lL.I-IL L,a.l.