The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-05-17

wholly falsincd during Mr. Ellis whole administra-
ton the interest received for tho first months Of
the year 1874 was $l506l OIL The last six months i
si2 1a2 20 the dividend paid out July 1874
was $4O,412 ~, and tor the LIST OF january, 1875,
SAL o26 )! on the soln OF June is'i there was false
entry made In the profit and loss account raising the
real estate al Tarrytown $50 ala 81; by that entry
they enabled TO declare tue dividend OF July
1874 the lst OF January, 1873. the du. de-
posters on the books was s66,6l7 rs less than
u should have been; the ledger Did not
loss account. that Was an ' additional tito H'0I liability
which not appear In the examiners report on the
LIST Of June, 1870 there was debit balance 70 the
suspense account OF S3I 02i So that should have been
in the profit and loss account There no such
thing us suspense account IN savings banks; dis
covered these crrors In less than halt hour after
examining the books aud any accountant could do the
same; in regard to the appointment OF Mr.. Carman
by some very respectable parties the total ieccps OF
the bank from January 10 july 1874 SIS, 25 81
against which was charged s1.l33 81; the gross
cclpis from July ], 1874, 10 January l. 1875, were
ST. 442 10, against which charged So Us 10; ut
that time tho debit against this account would wipe
out the entire amount OF these receipts; Will state
what the debit was'-On The LIST OF January, 1879
there should have boon charged to profit and loss
s37 024 S. an item which stood on the suspense ac-
count; they were absolute losses growing out OF
transactions Of tho bank; there were no suspended
debts In them.
Bank, called by Mr Chapman. lie merely cor
roLoraed the testimony OF the other witnesses or the
Defence In regard 10 the panicky feeling
and tho danger there would have been in closing up
the bank suddenly.
GENERAL RULING OUT.
Mr.. Frederick X. Smyth WIS cailad by Mr. Olnstead
He testified thu, he was counsel ivr Mr. Hurd tho sub
scqucnt receiver OF the bank. He produced the d.
rccIor's bonds Tor $ll5. COO.
Mr.. Chapman--AI this evidence was ruled out.
Mr. Olmsicad-On the ground that did have
INC original papers NOW propose 10 oiler them,
The committee ruled Tho oicr out OF order and the
witness was dismissed.
Mr, J. " Morrison, rrcsiaon. Of tho Manhattan
the luiufe Of duncan, Sherman Il Co Mr. Ellis came
70 HIM and asked MS advice IN regard TO the Third
Avenue savings Bank; Ellis sud hc understood there
was a pancky feeling IN the community; Dir Morri-
agreed with Mr. Ellis that the panic be
increased by any immediate ac,ion where no loss
would accrue from any de,ay. On crosscxainination
witness SAID he nd no idca Of the condition Of The
bank Ellis had shown INN statement OF ils condl-
tion, and he hiuss HAD no knowledge OF its assets
Mr.. A. q. Dunn, former president OF the bank, was
next called BY MI. olmctcad. He had been trustee
OF The bank tor twelve years: he knew tho condtion
OF tue bank IN 1872 before he rcsgncd ms position
he had made statement TO Mr.. Howell, the former
Bank superintendent, about H.
senator Colcmun-l think that IL not proper
Mr. 0ms tead-I think It Is very proper His state
ncnt was part oil the records OF the banking depart
POSED to know Tue condition OF his own Office pro.
pose to prove BY this witness that 1871 hmsc aud
Mr. Henncssy, acting as committee, made report
10 tho Bank Department VI Albany IN which they
showed that the bank was wholly and entirely IN
solvent; that tho dcicIcncy nc that time was over
$4GO, U0v, aud that Mr.. Ellis must have known that
fact which they could not have tailed to discover by
the most cursory investigator OF the affairs OF the
c.y an IN az w DanXar
Ruled OUT by the committee At The instance OF Mr.
Chapman.
Mr.. ums,ead 10 witness-In you opinion could two
examiners have examined INTO the condition OF tins
bank IN two daysy
OBJECTED 10 by Mr.. Chapman and ruled out by the
committee.
Mr.. Dunn went on TO state that he knew the
cost OF the banking house aud also knew that real
estate had decreased since 1t was bought When asked
what tho cost was tho committee would not allow him
TO answer Mr.. OimstcaG again tried 10 get tho
the evidence to 20 before Senate the prop
cry had ocen hctousy raised 500, OC0 IN value
decreasing market Witness was also asked why ne
resigned from the bank, but was not allowed to
swer.
MI. 0lnistead rested hts side Of tho case with Mr.
MacDonald's testimony. Mr.. Chapman asked Tor an
adjournment to Albany, where Mr. Ellis VIII DO exam
iuei. Alter brief consultation between the Senators
the Investigation was adourned TO be resumed at Con-
gross Hail. Albany, Tomorrow morning at ten O'Clock.