The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-12-22
BANKING HOUSE SECRETS.
4 TERY PECTLIIR ENDORSEMENT
ON 4 PROMISSORY NOTE.
The WAYS Of BOstnn's business Men Laid
bare \ Lawsuit TINT II Likely 10 Knttie
some of the nry Bones In Nnssuchasctts.

Bare \ Lawsuit TINT II Likely to Knttle
some of the nry Bones in Mnssnchasctts
From the Hoson Nerait
Ton months ago Mr. Abncr 7, Benvon
then Prod lent ~ the Nation 4 Fx 'hHnge Bank
Of this city, an institution which had eroNn
prosperous under his m nag. meat suddenly
the capital stock for new nank. u which they
prou sed TO N Ike hin President, and whcn
IN tiers seemed to be nearly PERFECTED. he sur
pfiscd the business community bv informing
his friends that tie could MOI accept the POSI-
ton, ana the new bank project VS. abandoned
Nearly everybody mad a WIG te notion That tho
frauds Of r. u. winsiow had some agency In the
case; but the exact status Of the case mas not
until now been nude public. .
courts In "A suit In equity instituted by VIZ. Zen
sci Of the LIZ shanre Bauk. Tue RESPONDENTS are
Edward l.. Read, President of and Edward l..
re 4. john Foster, sampson Reed Freeman j.
Doe, Alcxtn1tr strong, Francis L. Emery,
Joshua Is. Klmball. William II. DUNBAR, Miles
Wash burn, directors Of the National Exchange
Bank, the company OF the said bank anu
Dwight Foster
Tie compliant Of Mr.. Kenyon rectes that he
Tor several ye RS PREVIOUS TO the IL \ ~ feurut-
~, 1873; that he bought from I'm =. Marsh, he
tween the 20 and 6tn Of November, 1870 a -four
months note for 1850, made by Amos Cutler
and payable to mis- own order. nrd sec
| Oud by mortgage deed for e'.NJ, duly
recorded, and uayable In three years from
August 1, 1874; that he deposited the colaterals
IN the hlnk, aud gave notice to the bank that
tnev were to be delivered up on payment Of the
Gu lernote, and tint tina bank held the collat-
erals u al the afternoon ot March T. lsi9. 80,
Mr.. BenyOn adds nat between the ~ and 9th
| OF November. 1875. he received from the New
port National Bank. of Newport, X. l., the
sum Oh un with reauest that he would in
vest the same. and win this sum he bought Ger
| iaiu notes one Of which was the Cutler note.
licfore send in1 the Cutler note to the Newport
Bank lie 81 lrsed on II the name "A. Is. Ingalls,,
| his fun name being Abner ingalls, BeuyOn.
| lie did this not only TO bind himself Ms
| endorser, but to save the National Exchange
| Is INK rom any prejudice tnat might rise II his
name Il been endorsed A. j. Kenyon, II being
commonly known that he was President OF th
bank. lie d d previously endorsed uther notes
| In the same way and for the same
reason, and such notes we're returned
! To the Exchange bank Tor collection paid.
| and delivered upon payment. THO Exchange
| Bank was the business correspondent II the
| Newport bank. AMI n was the usual course OF
| on mess for tn. tier to return the note t. the
| Exchange Bank for collection. The Newport
| nnuk sent the Cut er not" to the Exchange BANK
| fnr collection and deliyer. and the Exchange
! Bank received It for that purpose, ana held II
untl o'clocN on March T. 1870
Mr.. beuyOu resigned on the lith - February,
1873. and took active steps to organize new
| uar king assoct ton III Boston. A suu-crp ION
| book Wa upeuei, and N less than two days
! more than 5000 GU " - subs rr.hed 10 the stock
| MIR. Kenyon war authorized bv the Comptroller
OF tue Currency TO organize toe assuciAtiOn and
| md reason 10 believe that he would be chosen
| President.
II wing been told that Cutter would not nav
| hiss note on maturity, Benyon went to n Ex-
= change Is uk on the morning OF March I. all d
told lead, tue President, that he ,BenyOn) was
| haDle rs endorsrr. lie adde:
Reiore o'cocF on that day tae complainant Dor
S ,r r. T % $500 H., a gTTP , 2 IN
Foster. the leg counsel OF toe ouns e-nns complain
al TO- CAL upon MN At IT, IN e. 80 IL ne Therefore
Of fg.t e. resae'ti sisi "a, mpiain nj n.a been
more Snn sT tx rs ls seeoun u 2c g' sS,3a
ine cuisines. Of tue osnk ,hN ~heu he went % Dwight
mere wee pre.-n SID Dsisht sni John Foster ~.
pG.e We hi " seD or YOU oG ' yry " vac Ty,
matter Don't crimaate yourselt'' ani the 10 fos.
At the Exchange INK bearing the name b losaiis.
Dc All wci 10 go ana take charge a ~ mead Of a
| mouuiel lhsttutloni tuat tue complainant, being
| connl,nce In tnt saii pwisht Potter, Hnd
nov Svcrs taat lie said ,iatec1is were u,aic by iae
ssd Fosters, Win ON" intent pupose. sud tnst tnry
ela aecu,s NE CONG aigant Of nayns comm, ed Tue
s .s N m ,'r n 70 saa' e III. se rs S oy Ge
.vig ~ gscn,ts ~ ~ i'on' 80 cui?is,e a.9 .lei
n,ued =. ne p.,, n, . - a nif me- q n
beios ne s.., u olk s no1r. thlI ne re-
| The complainant says tnsi while IN the oice oi
fer ti- psndcnt. had rosed t. deliver the -al,
n erea fear aud error snd HI. sickness aad sSncfias
then s5ea' p sssrsyl,el ~hoat tt.inS legal sd'ec
e,n '.ii,d ~ "rog IN fesAri to thi. no. e
...cl t..ln VI Ter. 4 he would sea dOn n,
a,ar hn tnc note ani they ioiH nm "iRev %oa.SS
cut-'.rr @ af'er~ard M be- hop' q thej wou1 50 it
AZ .'.ii .dl.0ns. on M,nla,. N,rch 8 caused pr.lt
mat ic MAJ aDhudDn,d tho project al inaI u,e suu-
| str.pfllu. nigh 1c consider J ctucrlei. tuat W
1Ies A.. Marc h@ ~ we'd me OF tue notices tn the
sad tJ.tsrs and a.sri inr the note. which they re-
tu-cd sayut "thrl dd not propose w. AND uouId not
s.rf n+.r .hr Auic a. PERCENT
tluI taN tdc respondents have refused ~
COMFY VIII Oh dcutu4. a. alleging alsJ tnat ga" re
sp,. d'ni' ere mo!ans AMI c91ieler.uns together
alu Nit utAers cueI0wl. IL also ayers IN lhc re-
spunieut- nave prrtculel tnst tge omp ainaut Ia,
complainant Nrrs tatt me 7 -pondcnts nave trtudu
lel and tIegsy oymuIIcd To- prevent Ill urgauEluI
the new nSu. assOc aon. AMI 10 prrveut his taxi.
,.aisr . 20. az 9, i,t.i.r = =. a'iei oIcel %
AiM Ia great terror sAd 10 MAKE AlI AOAldJl
u, a,N asoIiauO., NIirh ae did.
The answer 81 the Exchangs Bank charges MIR
Dynyou win dishonesty and fraudulent inter
est IN endorsing the Cutler note with MS name
transuosed anI alleges tnat OF the four notes sent
tl6,Oru. the endorsements on two were iorgeries
an L. We been So pronounced oy the alleged en-
dorsers. Onr Of tue notes was for 81 ~. signed
by Ezra ID. Wluslow, aud purpOrting to be Gu
dorsrd by Chamberlain. Chamberlain declared
that his name hdd been forged anu tue note
was tar u az ID some uhknown person.
In reg ird to the alleged intimidation OF Ben
ynn. the defendants add tnat D,nyon ASK ed
| Dwight Foster that the mater he kept secret
/ and III 4 Foster sad IN I h" had no occasion [.
] ~, All Il ~, anu presumed tnat tue officers aud
| directors ot tue tank would not unless II
heoaule their uutY. and added NOW, Mr.. Bon
yOn, YOU h ivs done eXtrvtnH ~ wrong y NILE Pres
! inrnt OF the bank, out It's directors have NJ de
sire to expose. or unish. or iujurc YOU unless 4
becomes their duy for the protection OF th'
puriic" 10 wnitn lienfun Replied II hav'
| given 81 all idea Of getting up new hank, anC
30 notified tue supscgi crs, aud do nope TIM
matter may DC kvpt soCre..
| IN IMUEN.E 1IROLITE