New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-13
DANFORTH NOT HAPPY YET.
HE HAS NOT SETTLED WITH THE PUBLIC,


THE PAYMENT OF AN HONEST DEBT DOES MOI
PUBLIC MONEY ENTRUSTED TO HIS CARE
Having helped or forced or having both helped
and forced State Treasurer Danfcrth 70 pay t''c
unsecured note of $4,000 which the Madison
Sqiar Ranli held against him. McssrS. Ill.,
Shcchan and Canbell left this city yesterday to
seek the country or the scaslorc, there anna
sylvan quiet or by the sad sea waves u mo"l'a'
on now murder will out" in spite Of the sharp
est and most INSCRIPTIONS politicians, ana u
wait for the storm Of public Indignation al ouS'""
by Treasurer Donforth's transactions 70 apa'H
1t was personal matter, did not concern tHc
public and would soon blow over, they sad
II may have been a personal matter AMI may
not have concerned the public from their poih'
Of view, bat as matter of fact the public iiaf
iccn greatly concerned. One of the things 'ha'
they have Leen concerned about 10 whether the
Democratic officials in this State have arrived al
tlIat state of security in their power and of con
tciIpt for public opinion wherein they can declare
with inIpunty that the handling Of the public
funds is personal matter. concerning the State
Treasurer alone. Is it none of the public bHsl-
ness what is done with its money? State Con
trollcr Campbell has said that it isn't Treasurer
Danlorth deposited $2jO,0OO in the Madison
SQUARE Bank. ana obtained private unsecured
loan of $4,000 from the bank Bank Supern-
tcndcnt Preston announced that the bank was III
an unsafe condition. Its capital was impaired.
Nevertheless Mr. Danforth did not withdraw the
nublic money AZ once: neither did he pay ms
note Not until the bank has actually su,pndeu
did lie take anv action 10 save the public funds
Under such circumstances the declaration 'ha'
Treasurer Danforth's private loan does not con-
Germ the public sounds much like "lr lw"'N Il
Incry: We'll what are YOU going to do abou'
il?
There is no question that the Democratic leaders
have h"cn greatly alarmed at tho disclosures ana
II" solictous as the effect which these VIII
have upon the fall campaign. They are ANXIOUS
that the scandal shall blow over, hut they do
not wish to have it blow Mr. Danforth over
with it.
After seeing that Mr. Danforths note was paid,
and after various mysterious conferences cach
went his way Licutcnant-Govcrnor Shcchan
and Controller Campbell went mp the
state on a morning train and Senator Hill went
down on Long Island
The examination Of the affairs OF the Madison
Square Bank was continued yesterday by IN
amncr Dickinson. Mr.. Judson went to the hank
i'm the morning but was soon ealled 10 Brooklyn
by the suspension Of the Commercial Bank
there. He left orders that no information con
corning the condition Of the Madison Square Bank
should he given out. Mr.. Dickinson said, how
ever that IA statement would probably lie made
tomorrow
The raymnnt of Treasurer Danforths note made
an uncNp cctcd but IA welcome addition TO the
ready assets of the bank. IL was said, however,
that the note had not been charged 10 proht ana
loss, and that the payment cf IT dld not lessen
the amoun. of the impairment OF III" bank
carltal. Mr. .Judson was quoted A. saying thar
the bank would need 10 rals" S1n",OUo 10 enable
il % resume business. The officers of the bank
thought that "A much smaller sum would be
sufficient and they expressed conldcncc IN their
ability 10 take the management from the nand,
of IN" receivers in five or SIN weeks.
cnc dcpoSitor said at the Fifth Avcnn" Hotel
yesterday that he believed hc would ultimately
ct his money. but he added that th" want Of
II now would compel him to sell bonds at "A loss
Of at least 80 per cent. The bank examiners
expect u finish their task tomorrow. They will
then issue statement and turn the mana cement
over 10 Ill" receivers.