The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-11-04

1,a,ne and The reapeetabIe lead his own acts Of
commission occurring ~ his own vol1.."li .V j
after the circumstances ~ Whleh re fouhp r.
which In his particular point 81 epnpih'h' -
not correct +, 49,
II, lila fntsiHaaion of fae', % resart, ls we ne
minutes Of thiriiath .'"nn an ~ W sha HANK
in liguidation when. NJ the fnn Is. tho hlrnn
tors et n ii O'Clock " ~ md ,ia'.nnn W ,,,'
report If Mr. Palmer Of what ha had done MN
self ut 10 O'clock that morning. a.,
~ His 1also. tlnmnuly md lishonnfhb,e
stntatnnnt nntln ut the moe ting ~ thoaarns'-
| tprn and liho ni guilty mon. poatpnnln9 nv
| OWL dag II retri,,utou "a long MS possible hop~
Ing however. to amn0tll over mo ns nhE ,Il'3@ ~
natural to many who have lost tbeif ~ w.,
| tins of tho ehitanery hnd deoe's " "'' Y"
TO- And finally If the anpithI md aaaota worn
| not ma ha Htondily announced, the fR"fe'
ha reported year after yehr, than ne
| STANDS sELF. CONVICTED
| ~ orimiunlity III Tho worst character ooo'ly
surveying no wreck IT No pRnrnr n.aanss, ptm e.
| tha nther fnnl they wnrn Ms genuine Hh he NAG
reported then he stands equally self convicted
of total inoa paolty In having In sig years disc
| pRted sbpp0oo oapitn. anorifoed the STOCK
wealth of hIa lGnellah frieuda. dragaing them,
| into tiia whirlpool Of confusion and loss and
raualne jeopardy; but I trust in tue WAYS us o., y
kind Providence. not loss OF nearly s3HW.oyo %
Dia,nisaing this model bunk mis- manager,
present b, your Homo the hlradtots ., ,, us
| wenk ness or eat. which amounts. however,
| almost to erinlnallty Their attitude however.
! Ia simply a crime nf omission which IL ita 70
suits Il auual to that nf nommlssi.n,, Recourse
| those who deposited did go IN Tho falth 81 their
hopoteh Names md VIII" believed thnt whom
ever u public stntatneut WAS made IT. was cor !.
| root ma true, and not ntnda ~ Of any and
| everything which might he called On asset, ma
| II was heir duty 10 haye inspected every tom,
and have seen and known Wllnt they were
| Il ling Innd not have pnrsd themselves In post.
ton ofHanb total Ignorance during eix years o.
| actual uiranforsl'Ip as noN 70 Know whathar %
asset nf faRa nD0 WINS secured nr not. Hueh neg
lec amounts to serious culuatilltY. ana though
| no criminal not his boon brought agatnat any
| ono Of those gentlemen. yet their nsglnnt aud
inattenlon ms tho sntun result Gentlemon
who received donations ~ stock IN order 70
mako Thorn dtreniora. have no special tn'0rfat
vested but should fool " ~ duty. nsvertheles
| to act directors should. and not as figure
heads uf responsibility MS ~ bsNt ute Tor Uhpt.
inl. Az much M they arc personally respected
they must be
WEIGHED IN TINE HALhNfEs
/ find before ne, with Tho aalferlng depositers
on one scale and tho directors IN tho other.
Massra ,Jas jackson ana Edward Epnery
both merchants If ripa axperienea huslnosa
Judgment IN all It's phases, wore seleetsd Tor
their promiuanes. and received two hundred
| ahnres each aH ~ grntnlty until the dividends
would pny tho ynlua and they reealvsd during
tho six yanra ~ their diroctpfahip per cont In
forest. neitlng Mr. Gonery III ~, and por
cent netting tho New DrleAua ttnsl ght company
fibG4 &C. Mssars Wing md Kellar IN their pecu-
linr profession anil branch of business. none
rank higher but ne directors have proven them
solves unequal 10 their duties aud unable To
protect themselves nghluat willy sllraWanesH.
which sooner or lnter must run its course.
Mossra. Wing aud Roller, being ignorant Of the
nineiss Of buslnesa rou'ts35 In u bank, thought
only nf II savings hlnk n, u
rftIANTHRorIn POINT or VIEW "-
And while ehoerftilIy accord Messre Jnok.
sou md oonery TINT snme ssnellent sontfment l,
nm induced ~ think TINT mn nffar Of md per
ani ntoreat On current deposits. which ~
BANK enn nfr3rd with profit. WINS uuts M In
durnmant. | sympnthise with ih' 50 gsntiemnn.
but the dspostors are entitled to larger Share.
md for neglect u duties present them to your
honor as very eulphblo. 70 nuin In point o.
nsRinct. but nm Obliged y, discriminate against
MIR NC. coaEny.
who cenrlytnnd Enthusiastically violated his tacit
agreement whom he accepte 4 The trusteeship Of
tho fund made by nasintlng and parsihiin g
tain and sustain tho bnnk." Such WINS tho
language and such was tho ngreement. md t'a
revolution 10y rnpidly withdrawing his hlthorto
stendy lnrge balances ~ ms repr9heDshlaas amy
other violation of ngresmsnt. IL Mr.. Gonory's
nrt I nitrlbu q the earlor dissolution ~ tho
bank beentso tho weekly settlomonts rendered
and this " sconsideted n violation Of tho Hgteo-
mont. With the lights beforo m" 1 ennsder
They have boon bled freely. Their Gonnlonco
In the REPRESENTATIONS Of their agent wta owl |
IDENTITY blind SUI, II they fslt satisfied that
tho Dffnirs OF tho bunk Wnte good enough to
Instify tho PROMISE Of so 600 10 Ihy he hepnsI
Tors and keep thn bank ~ good order, ths fact
w VI ' xnred nope y the ~ am aos sh n"d
not operate nRainst tho uflllment ~ the Iatter
81 or. dit bnrhuse tntse deposits; Including
bilites. Hence, 500 ~ Road r"aAon for ihe
withdrawal Of tho letter ~ credit. as the bunk
fulflls It's portion OF tho ngreement exeep do
livery Of tue
FLEDaGD DRAINAGE WARRANTS.
and thero WINS no time sperllhd for hat. sim py
to deliver whom obtained, md thore W.T. no
way Of obfainiug thom without tho bal@ lee Of
tho letter of credit being rehlizad,
And now to conclude ~ lengthy rrpoil5 made
necessary by tho circumstances surrounding
md presenting the most dlfavrneabls duty II I
form lodpnrdiznR my reniona with some, do
Gliding them defnttoIy with pthorH, conclude
by cn!ing your honors nttsnil2n 70 tho facf
Tint willis this larRs cnpltn' md tbsne immense
neBete have disappeared, TINT In tho meanwhile
not only have no dividends baon made Or de-
G Tt r me nnd P 4 Elk beth @ os h
past ten years has been t9s h5t 80. md tho OLD
hnnk nffnirs for tho pnt 4ix years. nnlnr the
the new bnns Ihis AMI many other irregn-
larities mentioned in this report ana in tho
moro extensive ons In the pose e1slon OF tho
give those nterGated -
good idsn nf what one man can 90 by y Rys-
temnlc conrsn of wrong md only rheekoh na
he slowly but surely ronches tho point beyond
watch he elnnot 60.
THE LAWS or RETRtRUTfON
nra unerrlng md certain. IT. at the terrnlna.
tion Of Some weeks Of anxious labor In th" in
forests Of 80 mnny impoverished depositors.
KINDLY asz istod by tho oArneRt commits toner's
in their painful duty u satisfactory result can
30 nttninnd. Then / VIII not regret my accept.
nnre ~ Tho nppnintment by yonr Honor, and
the consequent IAhprious Duties Mt ending
them and If my comments may be- deemed too
severely eet soripne, teen attribute ha necessity
81 them TO the bad elements. which ds'ln-
gulshad the life and charante r Of tho Louisiana
Savings Bank md Safe D3Loslt Company Of
New Orleaps. In.
Respectfully submitted.
@. RANDALL. Expert.
THE THEATRES.