New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-04-07
ALBANY.
wopK OF THE LEGISLATURE.


trpoy , SPECIAL CORRESPONDENT OF THE TEIBUSEl
ALBANY. April 6.-The Senate received to-
day the following message from the Governor contain
ing charges against Mr. Ellis, superintendent oil 'ne
Banking Department; -
STATE OF NEW YORK EXECUTIVE CH,MBER
ALBiNI, April i r; nj I Rest.
who appointed by the supreme Court ~ "H LAM
receiver OF the Mechanics and Traders SAVINGS anh'
S Gnn pSrenI Accompanied by dispositions and doc
umcntary proof in support tnefeoi; nv ,bo cic1nv
Sene then about 5000 that this condition OF the
bank exoosed to Mr. Ellis in ,sp er6EaT hyes
tieatca the affairs OF the bank that upon s"cn rnt:
that he was frequently Isqaesteta on behalf
OF two trustees TO take lmmeoaie5 E oo mntn
10 protect the creditors and he neseeted 10 90 so UNIV
june period Of nearly two Years 10 sprcue
the charges ara submitted hrsi nal ~ G time ecneal
bookkeeper of the bank and verified by 1ls oath
Ing deficiency in July, 1s74 of $2Ol on o2 seccne
the fess.nonv OF William Floyd and Ira W Gregory TWO
Of the Hsices the bank. contained in their depYs
i9Rs 'h 1s74 ' 70 as examine it's condition reported
sis 5c5 o and adS'; eceney i
The usual dividend of interest to depGHOrS weIe
OF things now appended 10 the charges form pIt %
all Mr. Floyd deposes further mat Tue NEE I,sa yTend
notwithstanding this report declared lhs us.i w.
he through f. T. Bethany. his attorney IN aeitclner
acconeanied by the schedules above mentioned before
Mr. Ellis, and requested him TO lnsuttuS H. Uni
TO New-YorE and in person examined iIo II,i
the bank; that after such eAanlauog@ biIocii and Mr.
Grec"yy was substantially correct. and that the bank
WAS nsolyent and promised take immediate stfps TO
prCtect The depOsitors that he tfloydl Irt!GeA'9 %
tween that time and june IL 20, ugSI t sf named
some action in the matter but tha' uhtH INC i"'' ~
date he neglected TO do so. =, =, ,,,,. ,,or,e,.at.
third The testimony Of T. p. Be!lamy atQrney ~
law of brooklyn, contained IN his depoSiHou ~
the same facts and tie The same admissions; 10
rom lm OF ic cndition Of The rank that nsoiyeat
that he (Bcamy) had OF b. ha OF ne lW0 u1'' 80 ac
non to protect the creditors, and had mailed several '
tiers that cIgc! between tnG TINE OF te M t sV
lint HAT
To,trM The deposition of Mr. Gregory to the effect
NJ h. confirms al that lr Floyd has stated concerning
Tie acts and dolngs OF Mr.. Floyd ana hnse anu oi MI
Tie annual report of the Blink Department, March D.
1875, eXhips tils bans i,s losS'nS " ic%tS No
los D. 1IS); thai Of $50 EXHIBITS toe bank WIN sur sur
Plus OF 50 $50 Is Assembly documents Oh 1917 NJ 90
'MT Best alleges that at the time he was appointed re-
ceiyrr In July 1876, the deficiency had reached he"9
SOU % charges and the proofs in support of them
which transmit TO YOU herewith, II becomes ny uuy
% to you n s snow Of the Bank
Dcpartment This Recommendation is made rs q bass
oi action the part OF the Senate, and upon te ASSUME
ton that the dcpositions aAncA,d 10 tno cni "'0
true make ont a prima facie case. ,,.o.i,, J.,
II is due Nj. Ellis 10 say That upon my nVltaoh ne
has appeared before me and made explanations "Ich
seem t. acqut OF any Intentional wrong Oui hot al
M SUMMIT the whole mater to the for such in
vcsneaon and ocen as il may think pr29 o, i.F ine
protection OF the pubic interests - hoiiN9oN'
Mr. William j. Best, in a letter to Gov Iiiden dated
OCT Is, 1876 stated that in 1874 Messrs Hoy and
Gregory, two of the trustees OF tie Mechanics ana
Traders Institution, appointed an examining com
mittee by the Board OF Trustees. During his service as
receiver Of the bank tits report came mo ms HANDS,
II showed that the bank EopelcSsy nSoEcni III inc
srou,er Of 1874 and considerable time pieY'ou'i
that Mr. Floyd and Mr. Gregory reported the iaci 10 he
Board OF Tusees that the board took no action mat
sun,ripteuIent Ellis subsequently examined the
bank. and promised TO take such action aS
would protect tine interests Of the depostors; that
no action was taken to close the bank by Mr. Ems n4i
june 1870 and that the total deficiency when he bank
cio,edl, doors was nearly 100000 Of which amount
possibly onelaf would have been saved TO the deposit
oIsif MI. Ellis nad executed his dudes III lofl.
An aiiday Of Mr Floyd was attached to MI b''tS
letter He declares his and Mr. GREGORY M
favorable report board Of trustees resolved to pay
dividend the depOsitOrs for The SIX months ending
July l. 1874, although no div dend had been earned;
that MI Ellis said after his examination that ne bank
was ctarly iusuveut. and that Immediate steps should
BE- taken protect Its dapositorS aud h't the "cr'nrnt
frequently nearly years called Mr Eiss attention
10 the con ti,n Of The bank tn, latter ala not re-
deem hs promise protect the dcpvstos, ana TOOK no
steps in that direction TIL June l, 1876 Mr. Gregory
makes similar affidavit f. p. Belanny, an attorney,
makes affidavit that at the request of MosSlS tIoId
Gregory be called Mr.. Ens attention to the banks con
duon accompanied Inn 70 Ncw-IorA, aud that M Lis
admitted 10 him tie banks nsOlVcnt condition.
There was slight contest among the Senators as TO
Tho propcr committee which to refer the Governors
ncssa.t senator Vedder moved that IL be sent to The
Committee on banks. This reference resisted by
Senator Jacobs who moved amendment that IT be
referred 10 The Judiciary Committee. Senator Prince
sad that when former Governors Uadc charges against
Judges the document, were first referred to tc JH'"S
Committee. Senators CutihHn II '.iI, ana N'IHi"l,
,n.in'i,e,s COMMITTEES BauiS, said that they
IN the Judiciary Committee. Senator N,ddcr ~ asst
accented Che auellancut aud TIE judiciary Noinmltte
were instructed 10 take the documents ana report r. tue
earliest moment what best 10 be cone Win ineu
Toe Assembly received reports from committees on
large number bills. The IN 81 ml ltih 81 tiesc Was
an ufaV0rdbic report Of The Coumllte 0n Railroads on
MIR Ecclcsnes Rapid Transit bl Ihi' biI was Tor ING
purpose oi fastening the c0nre'i' oi idPi .i
roads IN any part OF the State. II pcInittct uIiOd
company - on building ROAD Cospitc h1anttloi.a o
tanned by property owners from the courts Inc pvl
FAMED however only by the road giving bonds 10 M
dcnuiiy the owners if the salts Tor damages IN ihe
courts were decided IN their favor Ihe owners Oh o
eriy on ter side were give bonds Ia indemnify INC
railroad for its lawyers cXleuscs u the coa drtIed
report Of The committee De disagreed VITA lie earnestly
urged The passage Of the bill. II would greatly ana Idhu
Transit The opposition TO the bli mainly came from me
horse-car railroad companies. Mr. Sudian sad lhal
committet of the character of tie railway committee
ccrtai!v deserved Some consideration and decision
with reference any D9 before II should ne accepted
rs conclusive. Mr. Hays was OF the opinion
that the report OF tho committee ought certainly to re
sustained. lie friend Of RAPID transit but THIS Dill
little better Than highway IOD'eFE' NJ piDit sara
tlat had been five hearings on lhe I'M ana every
thing had been SAID in IL behalf mat could be SAID
Every member OF the cOnlUllltc, WIN one exception,
WAS opposed 10 IL. He was ~ favor o iaO transit ana
So was the committee; bat he believed inc measure
The object was 20 impede tcfRhts IN te courts
OF aggrieVcd property Owncrs and prevent them from
obtaining redress 10 which they were entitled The
simrle Justice Of the case CoEpegd Inc committee 70
r,Dort the bill adversely. The motion 10 disagree Win
The rerort OF the committee defeated 10 vote Of
% to &C. motion to reconsider the vote Was lost, and
The report OF the committee was agreed TO-
DR.. Baker presented from the tantsCOmmlitee con
Iaes OF toll established by the Canal Board for 1874,
aud said ne dsseDtcd from the report except as 10
foIs an Ilat boats The resolutions made special
fa1oN aUiT rQf