, 1877-09-08
SPENCER.
The Expert Is Fairly at Work on
the Books,
And Has Discovered Some En-.
tries Which Need LIZ"
ulanatlon.
snencer's Desk Is Opened, but
Little Is Found Therein.
uia Caso Now under Consideration by
the GRIND Jury.

uts Case Now under Consideration by
the Grand Jury
THE EXPERT.
WHAT liz HAS DISCOVERED.
The policy Of proceeding With some sort OF
.x,,.m Iii tho investigations into the StatD 6av-
tn9. lnstitut!on's management has already
ho,nc some fruit. and psotnfscs richer yield
the longer It Is pursued. The quick, sharp
.,ghtcd, bust,ing expert. Mr.. Davtc, by t1lnt Of
acvo,ipa what spatc time he has from his duttcs
=. chIcl ACCOUNTANT for the pul1mnn palace-Car
Company, and by working cVcntnEs, has
frourht to light some instances Of false book.
tcrn,na which only serve to show what las
,ncn .upposcd, hut not known, that Spencer
& Co. did all they could by mrans
n crooked accounts to cover their
tr,rka, Mr. Dnyte's work IL one Of
lar. horn Of desire to have tho lcpositors In
thc rukcn bank learn d soon As pusAbto Just
rha. they nny expect, and then to get It. For
hs ldbor he will get nothing but their cyerlast-
,ov nratItuie, provided they ean appreciate tho
worth of hIs services. Lis time. except his
syculors, Is not Ills own, but belongs to the
pul,nana, who lavo generously allowed him
IN tako ,cw hours each day to assist tic COM
m,,tcc III their Investigations. From his labors
of Thursday afternoon and evening, Mr.. Dayio
oos enabled to 20 before the Committee yester-
dag morning and make
4 REPORT or WHAT he HAD D1scovzagp
n, IL, al ic had gone. tn regard to the bonds
and notes. he had to report that thev were ull
accounted for. Most Of them were In tho banks
possess!on, willis some Of them Ind been ny.
nothscated, but whether Spencer had pocKetcd
INV Of the money on their hypothccation Or not
be had not set discovered. But there was some-
tlinc which he had noticed, and. although ho
had not yct followed It up a. far as ho could dc.
,!fe, stIll It showed Individually tint tho cash.
hook lad been ta1nperel With. On tic 1Gtn Of
August there wcro snterpolased entries In tnat
book In Dulk,eY's handwriting which required
considerable explanation to entirely reuloye tho
susutcion TINT they were made for the purpose
Of covering up official crookcdness- On that
dntc tls wonderful book showed the following
wholesale entry:
To credit, profit, and loss. balance Of sur
ppnas ptaas' and moiisarc.. on account oi 4.
On collateral loans. b. D. Spencer. Liz, o0o
10 huxley, Guild, md Newton for bank
Donas md mor.sngcs aiiiona to stock '''''
tlLpposcd to bo Guilds Qntt. claim deedl 5000
Interest s.crued on loans and honda and
Collateral i ioans, j.. j. spsncer. g.. 2so
sd7s, b7o
It will be noticed that the entry for interest
Is susplcousls largo for ons day. It further ap-
prurs tnat spencer, out ut the inherent good.
ness of Ills heart: through Bulk1oyt madc up tho
difference BY caasKinE np nute Of his fof
entering 1t up as pnIj, ,-anA by tile other eutr!ce
whirn were clearly interpolntcd for the purpose
,oi foIring balance. This all Mr. Davvto had
discovered Up to date, but he announced Ills
would lead 10, anI Il there were anv others of q
like character they too would bcco,no tho OBJ
tects Of his tcnde5est care, h's deepcst soltci-
ia.lc his c1oscst scrutiny
TINT Iii. Davies thorough Inbofs Ead already
been attended with sucii results, thanked him
for his kindly Interest In tho matter, and hoped
hc would be equally successful In Ills tuturr ro-
ecarches.. At thls point, however,. Mr. Dayic
ttous were necessarily postponed for awhile.
APPLICATIONS.
Tho Committee then looked over hn1f-dozen
or more applications from peraons who aro at
rresgnt afflicted with MI o'crweenlng desire to
tc appointed tn tic Asstgnceahlp. Among them
Is John II. Durham, tho South Water street
merchant. The Committee merely read them
over and very properly turned tue cold shoulder
they understand It, ~ simply to watch tho
course of affairs and not to constitute themselves
tho champion Of my one ulan. however much
taas lna! may oo consumed with desire u
step into Col. Taylor,s shoes when that EontIe-
man refuses to quall J, anu thereby surrcndcra
a!i Tito and Claim 20 ti'e position. There arS
any number o. pcople WHO lave been "tmpoF-
tuned by their trend.t" and who would "eon-
sent to servu" as readily as they would consent
tu accept at, invitation to dinner when they
We're hungry. The Assignecshlp ean b. turned
into good thug, vcrY good thing, In tho
hands of an expert artist who haa lad expo
possesses natural talents which eminent.
II III him for sitting around, Wills
rcrIug soft things to anxious lcpositors,
collecting Just enough money to keep the thlnR
sioual dtyIlend-for himself, not tho deposit
ors. The Committee want nouo OF such nitn.
Their applications tur tho job arc quietly placed
On llc, aud tho Committee 70 on with tlelr
buslacss, cuutest to loave the rest to the courts
Or to follow uut the wishes Of tho depustors In
case those untortunntes Insist On having Us MI