The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-05-11

1862 before he Senator in 1870 and 1871 and at
the present tmc. exhibiting his bank account ana
stating details Names times places and amounts
with amplest particulars. He detailed the amount oil
his property and sources of his income. and his ex-
penses. both while engaged In public service and at
home, appear TO have been frugal ami economical. He
denied, with emphasis and In every particular both
the charges IN question and also the truth Of rumor
or statement attrbuting mercenary motives or con-
duct TO him In hw official capacity.
true and they would do injustice alike TO the people OF
the State ana TO Senator Woodin II they should simply
not proved The committee therefore report that tho
testimony amrmatvey dlsproves the charges SO far as
they AFFECT Senator woodin and establishes that they
are utterly without foundation Ns,sa
AL OF which Is respectfully submitted
Il. PLATT CARPENTER.
+. G. sPRAGuE.
9s1l A. SCHOONMAkER, Jr.
GEORGE h. BRADLEY.
ACTION or rHy SENATE
Mr. Gerard moved that the Senate adopt tho report
anu concur in lis conclusions.
Alter euiogistic REMARKS by Messrs Gerard, Kenna-
day LOOMS, Starbuck, Mccarthy, Cole and Jacobs
the report adopted by unanimous votc-yeas 30
Mr.. Bxby adding to his affirmative vote the exclama-
With the single exception of tho Senate action
woodin's neither house did anything OF conse-
Cowdins Bank bill was referred to the Committee
Finance OF tho Assembly.
RAPID TRANSIT sKIRMIsHISG.
The fight tor rapid transit was continued all day and
evening. Three times tho effort was made 70 advance
the Hayes bill 10 kll rapid transit Every
sorted to. Tho anti-rapid transit camo very near
succeeding once having got their together
all Instructed to vote for Hayes Rapid Transit bill
The boys on the watch. Hayes moved his Beach
Pneumatic BILL The boys supposlng IL was the bill
an ey progressed tho Pnsuma.ic bill ween no moved
the bil TO kill rapid transit the boys did not
understand ii, and did not rally. Tho
aud under tho lead OF Purdy Eccesine and o. Hare
moro than match for Their enemies They also
reinforced by ola Tom Avord, who Is a tower OF
strength in himself Near tho close Of the session
last dying effort was made to progress the Hayes BILL
home The motion was suddenly sprung. No one UNDER
stood It, but Purdy ready for IT, and in the tone OF
so peculiarly his own called the yeas and nays
The explanation OF the vote settled tho matter and
again the friends Of New York city trlumphcd.
The bill to move the capital TO New York was consd-
cred in Committee OF tho Whole and ordered to third
reading. Tho Senate Committee have agreed to advise
the passage OF the amendments of the Code Of Remedial
Justce ana recommend bill suspending tho opera
ton OF the code Tor year. Tho lawyers may rest
The Excise bill came up and was not progressed, be-
votes. The effort will be made tomorrow again. and
notice OF call OF the House has been given
TO-. took PHI place N over motion 70 put the bill
repeating the Queens County Railroad act
in the first Committee Of the Whole. The friends Of
the bill appeared TO be beaten when Purdy, OF West
CHESTER made tho adroit move by calling Tor the yeas
and nays which gave the members an opportunity Of
explaining their votes This carried the motion Tho
people OF Brooklyn are greatly excited over the BILL
and the pressure for It's passage is very great
CANAL TOLLS REDUCED.
The reduced toll has been adopted by tho Canal
Board and goes into operation Immediately.
THE ELLIS INVESTIGATION.
ACTION OF THE SUPERINTENDENT REGARDING
VARIOUS INSTITUTIONS EXAMINED BY THE
SENATE coMMITTEE-AN ADJOURNMENT TO
MEET IN NEW YORK.
ALBANY, N. r., May 10, 1877.
The Senate Committee on Banking resumed the In
vcstigation OF charges against Superintendent Ellis
this morning and the charge relative to tho Bank Of
Iansingburg was taken up Tho reports OF the bank
to the Superintendent for 1870 ana 1877 put in
evidence
THE BANK LANsIYGBuRG
Henry 1. Lamb testified that knowledge had ever
come to tho showing that the capital OF
the bank was inflated that any illegal methods Of
business had been going until March 49, 1877 when
the president and cashier announced that the
bank was insolvent The Superintendent then
made requsition upon Thorn to repair their
capital or close up, and they closed up.
There was no official notice of the kind of stocks
which the bank held sent to the department. Mr..
Ellis had instituted rule requiring schedule Of such
stocks but 1t had never been the law; was simply
precautionary measure of his OWL Tho report of
the banks condition In March, 1875, showed
tho profits to have boon S176,6l1; in June
tho surplus was Sl5o.0o0, and the profits
$50, 229. In September tho surplus was
$3.50, 900 and the profits $40 s25, having paid dvi-
dend tho LIST OF July. In December tho surplus ro
NAMED tho same profits $ls $685. March, 1876 profits
ST. 1871; June, prolls. So, 6S3; September, profits,
sl,7e2; December surplus, si4o ooo profits Sc. 7Sd
Senator ST. John said The trouble with them that
they went into Wall street.
Witness continucd-They bought Lake Shore and
Michigan Central when those roads quit paying dvi.
trial. which mad also paying dividends ceased
there is nothing IN tho law that prohibits them from
investing railroad stocks with the surplus and capt.
tall according last report the dcposltors had
guarantee OF $500, 900 tor their protection.
Tho department has no authority 10 interfere at all
with regard to banks investments until the capital
become impaired or their charter Is being violated
LOAN AND TRUST COMPANY.
Tho New York State Loan and Trust Company was
the next institution examined by the committee. This
company was started with capital oil ~ 900 Oo0 An
examination February, 1875, showed deficiency OF
SOS, 00o but nothing appeared to have boon done IN
violation Of It's charter. The committee waved an
extended examination, as IT appeared that Mr.. Ellis
authority In this case was very limited.
THE LoANER'S BANK.
Tho Loaner's Bank was next considered This had
been incorporated under tho name OF tho Pawncr's
Bank, and would not ADMIT any authority OF the de-
partment over it. Mr.. Elis sent Mr.. Read to examine
II, but the directors would not allow him TO do So
Mr.. Ellis then went Mr. Charles Tracy gave II as hts
OPINION that the department had no jurisdiction
While the question was pending the bank went into
receivers hands
In the OF the Security Bank OF New York thets
by the cashier had been discovered by the directors
they had resolved that hndlng so much loss they
would not make up the capital but close up the bust
ness This done and the depositors did not lose.
THE GERMAN SAVINGS BANK
Ernest Hall, attorney for the German Savings
Bank OF Morrsania testified that the trustees were
among the reputable citizens Of Morrsania, and
In whom the deposltors had confidence; some
time alter May he and Mr.. Held to Albany and
had a conversation with Mr.. Ellis, uEon which
the trustees bound themselves to tho amount required
TO make the bank perfectly safe; Mr.. Ellis refused TO
receive their bonds aud lhcrcupon the trustees made
assignments OF bonds and mortgages. witness having
made mortgage upon his own place IN order TO meet
the requirements OF the superintendent The de-
lcency made good the succeeding December
and there was surplus In january oil
the present year. The Withdrawals from the
bank flually became such that closing
up necessary TO save the securities from sacr /