, 1877-12-29
Results of an Examination of the
Books by an Expert.
The Way in which They Were Cooked
up Preparatory to Making a
Statement.
Spcucer's Account-..NIoney Spent In
Lobbying...Mr. Sidwny's
Denial.

unable to make head or talI out nI Inc tHo"
btsl that was turned over tn him as the ct1ccta
md chattcla Of the Institution. lilo therefore
employed Mr.. stcehclkc, the expert accountant,
to bring order out OF calnoe, and make nm intel
]gcut and comprehensive report Of the true co,-
dillon Of tho affairs Of the bunk, which wou1,
cnn,,.c tho public 10 see clearly tic rascatIty
Witch brought tho Institution to so disastrous
termination. Nr. Mcrbelkc has t,ccn ut wnrk
for scycrnt months, and In his cfTorts to tlnrayc
tho misicetls Of Spenccr's bookkeeping and
t1nfngs, he was assisted bv Messrs. Guild, Buck
lev, anil others who were formerly connected
with the Institution. fle completed his lators
Yesterday. and Tue TRIBUNE Is cnahcato s,rint
thts informing full abstract OF tic Important
document, which, covers tho moro prominent
transactions since january. 1873, to which arc
10 bc attributed tn the main the downfall Of
sail Institution: ..-.... ...
As the Investigation progressed, Nj. Ncchclke
discovered many evidences OF a
nEcKLEss MAtApMtSlsrHAT1oy
on tho part Of the officers, md he refers cs-
peciully 10 the fictitious cash entries mado pre-
ylous to the pubtIahtng OF the quarterly state
1ncuts, oyIt1cnlly with design Of t'ccctving the
rubir, and II tho fnlarrlmlnate loannE nf tho
funds Of tho tnatitutun. Altogether, It IL ar-
parent, ho snys, that tho management Ut 70
large and sarret! trust was In tho haads ol
To illustrate moro iuliy tho financial opera.
tions relative to tllet
fxcHEAnx or TIE CAPITAL STOCK
ol FlGINu, 20 rciers 70 illc pfocoSaihEs d. Q! INC
mceiinEs u tI!e stoeh,tl'Sts' Mntes ~. 1910, III
which u. =. ssnith offered tho resolution to IN
crcnse tlc capital stork to s:N0, ,000, making MI
iD. reuse Of 3,i60 additional shares, III all sJ'
W. tuuou,,. ,,o.,. ,r,-o c,.. f., ,h, ,roro..o
Of stock, viz
y. Il. Spencer voted for Dobb!4.. for tho nestase.
4n1 votes; y. p spencer 1of hiintclf, 3l.; FER
Sin. 'ars !os n'feet ;.a; II a II Ht Hnn. Mn't y.
s%:s y's / f. T%;%s? S|s;si S f,%
Twen !Sv a. "a n,id toF b,m,c,f "a: t. f,no,wn
Ir for hia,eelf. 10: 10 Ill DDS votes out Of l05o
Marcl, II. lis, at q meeting Of the Executive
t;omm]ttec. II was resolved;
Th.. ,vl1cnd M Inn ncr rent bc n,lf mt of ,ho
.uinIas tnnd of shs. nsti.uon, psynhic 10 ali pcr.
Ia shall apluur by the atock. b0uk Of eait Ilsttu
lion :, thai ,ime saia DIVIDEND m sha h. te duo n!
iGo ptoposcd tncrcase of n5O saarc. to tho cap,.
at stocE OF tho State Savings Institution hereby
offered tn tho present stockholders In proportion
tiun at par 10 10 paid tor in cash on Of before Tic
s asts ry !, & ne:S .s III IT
acceptance Of his preparation Of raid atock Or any
s 1sfx15 vii t. sa 9: ss'"'f ~ ''s
samc, which Will thereaftsr 10 ,enbtect t. disposa
IN the alae1etson " XIV Eascut"e eo.tA"tee'
THIS !s etE1ed by j. Il. LORE. FtrKlns lass, y.
A. HnNrt. D. u. SDpilcEfs LtlAuUcCY Il, uUKcQ,
an H. A. ,,crcos" o. ~ lin coo,o, .toc r,ntcmp,a,
o4nnrt ~ Ito hn weiisnnrsrf.i Hin, Ia acn,,irs
additional i, ,ncaus M i,r spcrula.iyc PURPOSES.
What other nurposc il could serve, It Il difficult
tosc
Notwithstanding tho entries on tho caslt.book
showing tho payment OF tho stoct, large por.
tinn oi th[8 canftnl stock
WAS NOT rA1D IN CASH,
but the parties gave tllcr checks fnr tho amount
euDscribed by them respectively, less the dIyi.
dcud. it appears TINT these rhcrks were re-.
turned to these parties aud their notes nt,,stl-
tttcd, In snpnort OF tiiIs Insertion, Ar. II. an
ennsTc. thS Tsilcr,s cnsh auuilnt cnyerlnw the
. period Ut this transaction, showing tho clcyka
on hanl each day,
Evrnino March ~. ..........,........ 9011 "A
Evening March IN I'M. H..
Evening MnIch 20 .......,,.,,.,.,....,. go TIT
Eycnlpu March IL ,,,.,,,,,,,.,,, -, 80, n1. 4Tl