The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-12-14
THE YORKvILLE SAVINGS BANK.
WHAT MR.. rwoMEY HAS TO SAY EXPLAIN
TORY OF HIS CONNECTION WITH THE BANK.
NEW YORK, Dec 13, 1877.

WHAT MR.. rwoMEY HAS TO SAY ExPLANA-
TORY OF HIS CONNECTION WITH THE BANK.
NEW YORK, Dec. Is, 1877
TO THE EDITOR OF THE HERALD
do believe that you would Intentionally do
any other person injustice. yet the editorial In
your paper OF the 18th inst. entitled "Another Model
Savings Bank" does me a cruel wrong.
was made . trustee OF the YorKville Savings Bank
without my knowledge or consent I attended one
mecting-st its organization In 1s69-and no more
until Genet left the city, in 1878 1874 did
not at that time regard myself as beng in any
connected With tho bank supposing my absence from
all participation It's affairs Tor four 1--WE years
would be regarded as q resignation.
After Gcnet's flight, much to my surprise, was
tilted attend meeting or the trustees, but as
told there danger of failure, and that / was
regarded still as trustee. attended the meeting.
statement read BY the secretary revealed the fact that
the liabilities exceeded the assets by Q sum much
larger than the deficit now, and 1t decided to
mako effort 70 prevent collapse at that time To
do this new organization effected, and several
posted money sufficient TO enable the bank TO
iinue. The bank Was 80 utterly monsyless At this
that advanced money to the secretary to enable
him TO pay deposition who had called Tor . pay.
menI
Among the assets Of the bank was $40 900 in Chat.
tauoosa Railroad bonds, payment guaranteed by the
state oil Alabama. These bonds subsequently, were
declared valueless by the BANK Examiner, aud was
informed with others, that unless other securities
substituted this time the bank must certainly
close. TO prevent TINS, after much opportunity.
consented 10 Deposit Ms my share OF the sum- mort
gage upon any oil the property then held TO the
amount Of S. 600. which TO be held collateral
security value Of the bonds, Il being agreed
that the mortgage was DO recorded, nor was
pay the interest, aud that could recall tho
| papers Whenever desirsd. This was in December
officer OF the bank, aud demanded return OF tho
mortgage, as also the moneys bad advanced from
/ Inn hunk In n I'M
demand, and alter being held for about year. the
mortgage, against my solemn protest, was placed on
record. thus making IL a lien upon my property.
A short time previous, not regarding the mortgage
as lien, signed contract to exchange this prop
me 10 fun my contract was compelled 10 make a
transfer other property, submitting four separate
pieces from which Inc Secretary selected that upon
which the mortgage remains. He broke faiih
with me in having the paper recorded. did not think
IL my duty 10 INFORM him that the property he Sc
lected had cloud upon the title. IL was his duty to
examine the title, " found imperfect TO select
OF other pieces offered, particularly ~ not
| then q trustee OF the bank.
II have overdrawn my account have never boon
| informed officially Of tho TACT II there Is
draft viii venture 10 assert that It rs very small
one, ana ready 70 pay u upon . final settle.
ment.
with the Yorkviile Savings Bank. ! never intended
the mortgage should become lien upon my property
ony while II remained IN tho bank, al my option, as
IL was supposed The bonds would In tme appreciate
to q par value. as Will certainly pc tue case. unless
the State oil Alabama repudiaIos !. pledged faith
However, permit Inc 10 say that u, upon Judicial
determination oil the case, " will appear that am
legally, or even morally responsible for that or any
other amount, VIII most assuredy pay It, should "
| take the dollar am worth realize. have
| lived IN YorkvllIe more than forty years, and
we'll known In That vicinity, particularly, well as
10 TINS city generally and DEFY any person TO show
that ever, knowingly, wronged a human being pecu-
niarily or otherwise. l am now past Atty years Of
age and nearly everything possess my good namo
trust you VIII publish this roply 10 your editorial
article OF the l2th inst, ~hch Is calculated, II lott
unanswered. TO do that which prize above all things
/ else an irreparaule injury. Very respectfully,
FRANCIS J. TWOMEY.