The New York herald., 1878-03-09
nd stated chat you wen. for him in the Eighth National

be produced day. Next day the examination is
continued as foliows:-
O. Have you looked for the telegram in reference
which spoke 20 YOU yesterday A. Yes, sir.
nsye y,,, you loand t "A a; hsye v,,.,, ia.
O Upon what ground do you decline to produce its A.
We're You informed Of my appointment the day before
Q. How did you obtain that inormations A. BY teie-
Q. from whom did you receive it A. decline to
dnse il A. Yes sir.
The telegram spoken Of the report says oame
Banking Department. and father and son had COM
mon interests to serve Ia controlling the invesga-
tion The younger Orvis seems to hove counted
upon making the examination. and he has expressed
10 several parties his disappointment at not having
been selected TO do So
10 support this charge the testimony OF Isaac
Smith and Mr. A. d. Kirkland, both connected with
the Banking Department, Is quoted.
'KEcKLEss INsINUArIoNs.n
Abiding to the conversations mad with Mr. Lamb
by Mr.. Orvis and Mr. Mackro induce an examination
OF the concern, Mr. Best says :-"Never before nave
been brought in contact with Intelligent mon so Ut
terly reckless Ia the matter Of vague insinuatons
against others as Mr. Jonn Mack and Mr.. Joseph W.
Orvis.n
great deal Of space is devoted to tho oonsidora-
investigation was sought by Mr. Orvis and tho state
monts therein made generally contradicted IN the
report There is first a contradiction OF the state
menl that In 1869, Mr.. Orvis declined reelection
chairman OF tho Finance Committee. In 1869 no
demanded $4,000 tor compensation Tor services,
and the Trustees compromised Tor 81, 0O0 Mr.. Best
says:-.
;.fhis payment to Mr.. Orvs appears to havo caused
good deu of feeling and resulted IN the resignation
oil Mr. Thomas Mast, who, not caring TO belong To
savings bank ring sent the accompanying letter
10 tho Board OF rrustees:'-
WEST l25rH STREET, NEAR FIFTH AVENUE
NEW Yomx. May II. 1869.
TO BOARD or TRUSTEES OF THE Union DIME SAVINGS
GESrLsxEs i have always understood through that
ee to the Interests OF the Poor our dapostors and ina"
-
last regular monthly meetng proves It to be charitable
gathering the crumbs of the but 1t that
Thereiose not caring TO belong to a savings bank sin
tender my resignation, and remain yours
HINTS THAT WE'RE GRoUSDLEss.
The accusations or hints OF irregularities on the
orvis to Mr. Lamb, are charged by the report to be
wholly groundess Abiding to certain doubtful
bonds and MORTGAGES, charged oy Mr. orvis 10 nave
been the banks assets, The report states that 'he
knew all the circumstances connected with these
mortgages, ana tnal The Institution held them was due
Quite mucn to his any othcr trustees agency.
the records him clearly culpable as any
one" Testimony oi considerable volume is
introduced In support OF this assertion The
charges that there were accounts closed by
forged drafts; that money was used I'M
properly TO cover s'shorts" IN the cash tnat there
were Installations of accounts, all swept away by
the investigation ana AIR. Best assures The superin-
tendent that Mr.. Orvis must been cognizant of
the groundIess nature of all charges when lncy
made. The internal management OF the instltu-
tion examined In detail and Mr. Best points TO tho
evidence ehcted concusvcly showing that Mr.
Orvis voted lor measures that he subsequently CON-
planned Of AS great evils
About tho purchase OF the site OF the present bank
building Mr.. Best says:-"rhe negotiations Tor the
purchase of the ste on the corner oil Broadway Thirty
second street and sixth avenue aud the price paid
therefor have been greatly distorted. IL has been
vaguely hinted that from SO ooo 10 sloo.ooo were
pad 10 parties connected with the institution tor
their influence In eectng tho purchase OF that prop
erty. TINS scandal was most ipgeously started, apd
obtained ext enslvc currency upon the street. IL was
the ldest rumor, aud nlse IN every particular l
have arrived at this conclusion alter thorough IN
vosuRation OF the books OF the late Rudolph A. Witt
haus VINO sold the properly to the institutions aud
the examination OF more than a dozen witnesses who
were supposed 10 know something OF the alleged
bribery"
And alter citing some of the evidence intended to
purchase OF this property. to winch Messrs Orvs and
Mack were active parties, they are found protesting
against the extravagances involved III the removal
IRON Canal street tue costs and losses resulting
thererom. have studied all tue circumstances con-
nccted with these transacons and examined all par
ties nearly or remotely Interested, dnd have again 10
you thnt the records negative the assertion of
these eentlencn They are aise as whole ana false
IN every part Mr. Mack was Tho first 10 suggest tho
removal he certainly was the most indoialgabe IN
pushing 1t forward. Mr.. Miller tesiiies to thus
oRyIs' ATTITUDE DESCRIBED.
AT the meeting OF the Board oil Trustees Janu-
AIRY 20 1875, resolution was adopted commencing
the purchase OF fourteen or fifteen feet OF tho Webb
property So 600 per loot and the lease OF Mr.. Top
ping, covering sixty ieet front on Broaiway ana skin
avunue, at price not exceeding $4,000 Mr.. Orvis
voted this, which, carried out would have added
$780, the cost OF the site. Moreover at the
meeting Mr. Orvis himself, moved that, the add
lIouaI ground be purchased tho Building Committee
be requested 10 reconsider their height
the building ana That 1t should be stories high
instead oi nve stories.' Motion adopted"
"UsURIous MoRrGAGhsn
Mr.. Best says:'.No transactions OF the institution
have occasioned more soiictude and misrepresena
lion than those relating to the bonds and mortgages
which Messrs Orvs and Mack have dcnominated
usurous. THIS term applies TO ali mortgages taken
at discount but more particularly ~ those executed
by Messrs. Birdsal Ely and Clark. tho latter being
spoken OF by Messrs. Orvis and Mack us the san
lord' mortgages, whcn Is missioner, for Mr. San
ford was not personally Interested In, nor did he pos
sess title TO, tue property covered by them
"ibe amount oi mortgages bought from time to time
Is ry $4,000 large part oil which has been PAID
The sum Iatned does not include the advances made
upon the BtrdsalI property alter the negotiation OF
the loan OF 1873 IL must be u matter OF surprise TO
ali who listened 10 the soi-assumed virtues Of
both AIR. Orvs ana Mr. Mack to learn that they wero
present. with very rare exceptions at the gs of
the trustees whon tho purchase Of these cages
Was au horized, and acquesced In the 'usury which
was one induccment Tor their acceptance. Tue
records further estibsh that these gentlemen we're
present when additional advances aggregating nearly
$l7J, 00O were ordered upon the Blrdsai properly.
They entered no protests interposed no objections,
aud only became wise alter the fact o loss
demonstrated, and that they might turn the history
OF THIS unfortunate investment 10 their personal aa
vantage "
SOMETHING TANGIBLE"
Alter rccitng the particulars OF tho investigation
into these mortgages tho report goes say
''Something more tangible now demands attention l
allue to the representation of Mr.. Mack, Mr.. OrvIs
his sou, Charles Eustis Orvs that at the OF
the ipstitution II closed, could not have paid ts
debts. ihe Mcssrs. Orvs deny ever having said that
tho institution was nsovcnt or tnat they have
language capable oi such construction On tho
other hAnG, Mr.. Mack ba shown that MI Charles h.
Orvis was nimical To tho institution aud MI Klrt.
hand swenrs to tho fact that in u conversation with
HIM, Mr.. Orvis expressed lear that the run would
rum the bank aud doubted Its ability to pay
depositors II closed up at that time.
''lhe elder Orvis speaking TO MI Ross In regard to
the conditon oil The Institution, described II pre-
carious; 10 Mr. Lauc he said that II CRITICAL
whose names were furnished by Mr.. Orvis aud his
III. Lane testios mat the Iofm fmer called at
residence In the summer OF 1877 where ong conver-
sation TOOK place iu regard 10 the iustItution 'We
were sitting there, Mr. Lane says, 'and talking
an hour more, aud Mr.. Orvis stated TO that lao
thought the bank was not IN SAFE condition under
the present officers, or something TO tnat enecL'"
O. Did ho desirous OF impressng upon you tho
iaea that III the cement the
bank would uecone iusolvcnt A.. fes, sir,
u. Did he Intimate VIII ther ho considered
IL Ia perilous condition A. Yes sir; ia critical
dition.