The New York herald., 1877-09-20

)UI lU1MOUb ~, 1OS 4AeA
gop,s,y r:ssl.risy Of Il. ts.n:.sssn III pc',hSI:
81 e 3
treated by tie reports Il would be
aS .hiss
sss"sss ali
Sss. :As saSs
sa;s Sssa made q .ssns %
s ss not ss Ss S
upsn hs:s Scnn su e sfss # JOHN Hoyr
LETTER NO
CONFIDENTIAL
orrcss sosr,! or J9us -. 2 Horri
- and 50 Bro.a street. Nrv lc.., yuy T.. is7z
rss. you a. suen no matter how you may rss about
r IN which are sa eer
~ e % true sv s am""s so n
have them IKE others sss,s supposias that ycp used
.sh morning sie% both and
sss am as ss deeply In Is q. s1r
and st.sr Of your note 90 mo on .ceoun Of .h.
wanted 10 rob you or something else or worse return
I. again" and see yoS ever
all my business expsrence With You swan you Are too
'"'' SWANS coSYxssIox.
Mr. David f. swan, the vice president, was ap-
preached by HERALD reporter and urged 10 tell the
whole story In regard 10 the Irregularities He said,
IN errcct-"l am great sufferer by this whole AFFAIR
Every dollar had in the word is sunk here know
wrong has been done, and ! am not disposed 10 sbift
the to shoulders other than those which
should rightly bear IT. ! am not gong to run away,
but will stay and take my share OF the blame; yet
ann not wiling that those VINO have managed sneso
upon me-" lHere the letters published above were
produced.)
called Of 0SS 65 being tho aggregate OF SIX
teen cnecks drawn oy j. j. Mer~in, agent on the Had
ley's Falls Bank July and August 1876 returned as
good, and also OF notes and checks O Jere. John
son. Jr, amounting 10 So. l23 ~, Endorsed by D. N.
Beardsley during April and May 1876, not paid, and
also carried forward us assets
Mr. Swan said :--"W. j. Osborn, ex-vice president
brought the checks TO tho bank OF Jere Jonnsou Jr
Tney were Endorsed by ID. NJ. Beardsicy, lately lay
preacher IN Rev. DR.. Tyng's Gospel fenL They were
dated as stated above hut were not paid ana carried
forward from time to time. Tho money WAS got by
Beardsley and | presume was divided with john
son"
I'D Mr.. Osborn deposit all the chccks?"
mo. After awhile he got odt. having nrst intro
ducei Mr. Beardsey, aud tho business Was carried on
through him"
"rhcy were deposited ny G. l.. Merwin, formerly Of
Plainheld"
safer the first check was protested how camc tho
'rhey a taken before the first check protested
came back from Haaey's Falls"
crockery store in Hosoko, Mass, that believe viii
make Tue Merwin cheoks good"
'Who was Merwin?"
.He formerly principal Of high school In rlan-
0cld, beiieve.n
.Have you any security for the Jcre johnson,
Jr. cneckss"
'rherc some land on Staten Island. but l do not
believe much IN It's vaiue."
"Dd the trustees have u voice in these checks or
other mntt"rs!"
ono; they were furnished with no data and not
consulted"
"rnen Broadweli Hcys and Swan really was the
Cairmont savings Bank"
To tins Mr.. swan dld not reply. He seemed really
detected at the condition OF Affairs generally mas
the sympathy OF his irends who believe him TO be tho
victim u more designing men. 10 questions whether
he had ue, specuiatng IN HANNIBAL and st. Joseph
Company railroad sock Mr. swan declined " answer
MEETING OF DEPOsITORa
A meeting OF number Of unfortunate depositors OF
tho broken bank was held IN the North River Bank
builang and there was Informal talk among tnein
as " Tue bost method 10 be pursued 70 savo expense
and delay IN tho winding up OF the institution. II was
suggested that counsel should be engaged TO look
afer the interests vi u anu the 0i r. +. Van De
veer, NO. Isl Broadwsy was mentioned THIS seemed
TO meet the APPRECIATION or those present. and II was
urged that he should become the general attorney TO
represent all claims, SO to save expense Nj. Van
De Veer was waited on by q reporter and he stated
that several OF his clients, having deposits IN ne IN
sttutIOn, had desired HIM to act tor them but be
knew nothing further about the matter, save that
there was disgraceiul circumstance tnat had come 10
his knowledge Persons had placed bonds worth con-
sdsraby aDove par the bank collateral tor loans,
borrowing simply par on them The officers OF the
bank had rehypothecated them, borrowing more tnan
they had loaned on hem ana therefore getting con-
troll Ut cash III excess oil what they mad advanced.
Now, OF course there will be lawsuit, aud also q
uuestiOn OF criminal liability.
TALK WITH THE THUsrEEa
Mr.. Samuel Marsh, nopucw oi Mr. Ernstus Brooks,
OF the trustees OF the bank aud memUer o
the committee appointed to examine INTO its Affairs,
said TO the writer-'We are determined to make o
searching exam satiOn into every TRANSACTIONS; the
confidence OF the trustees well Us the public has
been grossly abused, and whilo We shall shirK re-
sponsbillty Will hold to strict unaDilty the
faithless officers AS 10 Mr. BroadwelPs whereabouts,
and why he does not come 10 the bank, know moth
Ing We all had great confidence IN him unui this
an.r; but when anything of this kind happens certL
ncates OF formor good character shoudsgo or MOTH
ing"
MIR. Halsey W. Knapp expressed the utmost indgna
tion q rotten condti0n oil the bank He SAID
Broadwe the missing President, certainly must have
been cognizant OF all the irregularities, aud II Ger
tainy looked suspicious shat nobody Gould lind or
him. Mr. Knapp added that Mr. swan, the vice prssi
dent, admitted that Br0adwel OF tho dehciency
long ago, and that the sworn statement OF the banks
sovency last July was not true, and that Il was no
true y year ago last January.
Mr.. KinLoy, who said 10 be partner Of John
O. Hoy implicated in these revelations says he neve
partner OF HOyt, though II Is true that, witt
about tnrty other gentlemen, he was Interested Ia th'
New York and Boston Railroad Company, BY the tai
ure Of which he lost great deal oi money.
Bank Examiner DAVIS 10 still engaged IN his w0rl
OF overhauinp the sccalcd assets, aud II unearth
naLy precious ones to-day as yesterday his labor
will not be Ruthless number OF tho trustees me
last evening, but with no result as tar as known.