The New York herald., 1876-10-13
SAVINGS BANKS.
THE GUARDIAN SAVINGS BANK-MR. }.
M'oowAN's STATEMENT.
~ vo,v ~. ya7e

THE GUARDIAN SAVINGS BANK-MR J.
M'oowAN's STATEMENT.
New YORK, Oct IL, 1876
To THE EDITOR OF TEE HERALD:--
ask small portion OF your valuable space for tht
purpose Of answering the Communication OF MI
Joseph J. O'Donohuo, published to-day.
The facts and found by Judge Bosworth In ha
report are based the testimony OF JosephJ ODono-
hue aud his brother r-in-law, Riloy, well as the
testimony OF Peter o'Donohue. ~ by reference to
the report will be readily seem
Qunan as receiver collected from the assets Of the
Guar,tan Savings Institution sa2e. 900 and upward
and from the sales OF Roches real conveyed ia
tne trustees there realized $322. 900 and upward
The liens and encumorancos on Roches estate
conveyed and sold amounted TO about So, 0O0 The
amount duo the depositors or the bank At the time
whom Roche conveyed to the trustees all his properly
purpose Of paying every creditor OF the nssitu
ton full loss than $4Sc0 900, SO that Qunan and
Riley, his bookkeepcr, had IN their possession
$500 900 pay $3.50, 900 and therois still due the
creditors $50 900 and upward instead Of $3S, 0O0 az
stated by Mr.. ODonohuo.
When Mr Abbott was appointed the referee to
pass Qunlans g account receiver, A A. Redheld and
Morgan A. Dayton Jr., were also referees, appointed
by Judge Weslbrook or the same purpose. The order
appointing Peter J. O'Donohue receiver and Mr.
Abbott relcrco drawn in his tAbbots) Office and il
In the handwriting OF his clerk, Randolph
The OF Qunian, submitted 10 this referee,
showed an Indebtedness rom Quinlan, as
cciver creditors OF the Institution OF $500
and upward II is true that this referee finds that
Qulnisn but about $4,000, but how is that re-
su mt? In the month OF October, 1872, Gum
au as one OF tho Of Roche, paid to fifteen
creditors OF tho Institution $l4, ,59S Is out OF The
moneys derived IRON the sale OF Roches real estate
conveyed tho trustoes In 1873 and 1874, trus
tee he also paid out oil the trustees iund $32 500
public administrator, creditor OF the institu
ton The latter amount 10 not embraced IN tho
OF the receiver submitted TO Mr. Abbott but
the referee the interference Of PclcrJ ODonohuo,
claiming that the receiver Qunlan should be allowed
this payment OF $32, 500, does actually allow that
amount. against the romonstrancc and objection Of
Quinlan and his counsel well as the $l4 69S 10, ~
pay out OF the moneys OF tho Guardian Savings
Institution but does not charge either sum as assets,
sums of money derived from tho sale Of Roehe'i
real estate The interference OF Peter J. O'Donohua
was improper and illegal, and made for the SOLD
purpose reducing the liability OF his brother Qun
Ian s security. That report, however, never
confirmed by the Court. Ny own differences with Mr..
ODonohue will be settled at the proper lime and IN
another tribunal Suffice It 10 that all tue matters
10 which he refers are fully aud amply reiuted.
Mr. ODonohue believes that the peopc OF tho city OF
New York have short memories The unsupported state
mcn OF the foreman Of the Grand Jury who indicted
the bankers and merchants OF New York in the sum-
Of 1870 Ior alleged usury and ior speculative pur
noses and the agent sbuycro of the prize
ring In In tho years 1852 1883, 1884 and
1866 will much credit against tho udi
cial determination OF gentleman whom the citizens
or Now York take pride IN hcnoring Very respect
fully, JOHN T. MCGOWAN.