The New York herald., 1876-10-22
Report of a Bank Receiver to Gov
ernor Tilden.
Evidences Of COlIuSiOn With Corrupt Bank
Officers by the Examiner.
THE TRUSTEES TESTIFY.
Abstract of Attorney General fairchd's
Opinion.

Ono OF tho most interesting questions between sne
poor deposiiors savings banks and tho corrupt ON
cials who have the guardianship OF their funds has
bcen presented Governor Tlden by the receiver OF
the Mechanics Traders Savings Institution OF this
city. II seems abstract OF the very important
opinion published below that although Do witt G.
Ellis the Bank Examiner has been directly in coilu-
sion with corrupt bank officials Governor Tiiden has
no power TO remove him, and thus prevent him from
creating further mischief without the consent OF tho
Senate. This will not only be interesting to de-
posors but also to that large class OF egs-
lators VINO honestly seeking TO revise our laws SO
shat protection be accorded thousands Of thrifty
citizens, whose hard earnings go TO increase the
national prosperity
Tho following Is tho correspondence. opinions and
schedules
saxsn, asP NEW asSs
s 10 'nS e 10 for s ,hc
1874 Messrs Floyd Gregory the trustees Of
BY the Board q trustees in hs q my in
vssisntons tho report Of this committee under my
critically correct some items having been omi,sed but the
Of tho deficiency is nearly exact This appears
A. the I.sni. Of my .,ir1tion. would state:
evidence that hopeIesy nsoivent in tho summer Of
is5s and for ,s time
70 herein reported the Insolvency Of tho Institution to the
rarhas no ac,o" by the Of Trustees
the deficiency otherwise the inter
ests OF the dcpohitors.
Fourth-That aerward appears by the enclosed
adavit the condition Of the Institution was laid before
Hon Dewitt O. Ellis then and now supcrntendent Of the
Banking Department..
FV-Tha request OF tho counsel Of Mcssr Floyd
and Gregory the committee heretofore named,
tendent Ellis here ard made personal examination
OF the affairs of the Institution, and after such examination
freely admitted Insolvency and to take such
tion in the premises would the interests Of tho
6spositors
Sirth-That actioa taken by Superintendent
Ellis until about the beginning Of July. 1876
my appointment receiver nearly $4,000, OF which
possibly the depostors had
superintendent Ellis fulfilled his legal duty in 1874
The failure OF this and similar institutions has
grave solvency OF other savings
banks generally For these reasons and in the clear dis
charge have thought 10 bring the
notice of Your kxcelency the facts herein rcccd with the
proofs In standardization OF hcm for such action
see 1T TO adopt
have the honor remain. respectfully. obcdicnt
servant WILLIAM j. BEST. Receiver.
70 Ills Rxceency SAMUEL TLDKN. Governor OF the State
of New York
Statement Mechanics Traders Savings Institution
20 July !, lS76:-
Amount due depositors shown in general
Amoan, due ne depostors on dealers lcdgcrs'i %
in excess OF ............ 10000 90
tllance seems o have been taken of
E.as dealers depository ledgers. When
balanced by the receiver the de aers' lcdgers
more than $sU,( in excess of the sum
appearing In the general ledger" Hence
the addition made above which Is only ap-
proximatcy correct. -