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 L Canadian tnstituta for Historical Microropr(;^uction» / Instffut Canadian da miccoraprofiuctionf biatorictMaa 
 
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Th« eoinf fllm«d h«r« hM b—n rtproduotd xhtnkk 
 to th« e«n«ro«itv of: 
 
 Motropolltan Toronto Rofortnco Library 
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 Motropolltan Toronto Rfforonci Library 
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 TIm Bioclilioldtrt, C«rtiftcat« hokkri and olH«rt of \hm kil« Btnk 
 •f Upfwr Canada at KiuKitoa, (Vequandy maka aoquiriaa i^ba Com. 
 miMioaart* Offica on inalMra raapacting tha loatilution, «Mh <iMt»- 
 piaa Ilia tima of ih« Oark in g ivinf long axplanationa, which ara fra. 
 quantly misundaratood, and an errooaoua impraaaion ap— abioad : to 
 pravaat whiah, tho (olbaring abalract of tha Procaadioga of tha Com. 
 miwioiiar* la publiahad. 
 
 TbaCommiaaionart, HUGH C. THOMSON, HENRY SMITH .41 
 JOHN S TKANUB* Eaqra., oommaooad oparatioaa io ApHl. 1«^0, 
 by danianding tha boolia,pap«rt,notea and othar affacla of tfcainalilutKio, 
 which ware dalitarad to tham, and a noticw ioaartad in iha oawapa^ 
 para of Iha Provioca, of tha placa and houra of doing buainaaa, and 
 alao aani Circuhira to tha Ciaditora q( Iha Inatilution, calling upon 
 Iham to praaant thair claiina, and alao to tha dablora, raquaaling thtni 
 _# provida for tha payment of thair dahta. + , 
 
 by tha 4th clauaa of tha Act, tha Commlaaloa«rt •«• bo«mi H Ml*' 
 mil all claima to arbitration upon a damand from tha dabtor. 
 
 Tha raault of many of tha arbitrationa ara awarda for anwunla, in 
 aoiDa ioattoOM not ooa fiAh part of tha raad amount dtia t|M ioaliUi. 
 tkM ) tha o6kMaquancaa wara, tha Commiaaionara wara lad whh Varv 
 limilad itiaana to diacharga tha dabla of Iha Inatitutioo, and pay thair 
 •xpenaaa, and At^t tha award in tha oaaa of Thomaa Dalton, whara 
 ie900 waa awardad inauad of £4041 17 6 1.4 juatly dua,tha arbitra. 
 tori, invariably allowad tha Stock pafd in by tha Slockholdara to ba 
 aat ^iffagaioat what ihay owad tha Bank. 
 
 AprH 14, l99iK— Mr. ThooMon roovad that tha triia and eouitabfa 
 naaniog of the Statute ia, that the Commiaaionara are bound to re. 
 ceiva ail notea of the lata Bank and Certifkataa givaa by tha late Com- 
 miaaiooera io payment of dabta due the Inatitution. 
 
 Yeaa— H. C Thomaoo, Henry Smith. 
 
 Nay— John Straogp. 
 Mr. Smith ootm that no credit aball ba givaa lo aoy Mm tm Iht 
 amoanrofSibck be may hold. v . 
 
 'Yaaa—41eary Smith, Joba Stral^a. 
 
 Nay^H. C. Thomaoo. 
 
 April S4lb, 18S0.— Tbomaa Daitoo damaoda an arbilimtioo, and tha 
 Ipllqarjog arbUratora appointed ; 
 
 For the Bank, , . ^rga IfeKantla, 
 For Tboa. DaltDM, ^larnabaa Bidwall, 
 Umpire, 0^kM8 Prantiai^ 
 
 DaoMud againat Thomaa Daltoni i_. . 
 
 DutiarBond and Mortgage, with Inbtaat, J47fft 7 6 1.4 
 ' jDnft^^Calaman, with iotaraatb 148 10 
 
 s ToH 4M1 n 6 14 
 
% 
 
 '•% 
 
 v'«^; 
 
 ^ 
 
 .■■-•' 
 
 JH^lmmfat of hi* Boml ptjrabbm ICiagitori Bilto^ 
 now dtprteimttd to 0<J. fur th« (k}ltar« iCa4a 
 
 Th •itVMjiit of ln«t<iltm«nN iini«l in on 04 iharvt, 75*i 
 YtitM of litdtau*B ikwd in KiajtlOB i^lh §431 
 
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 10 
 
 409 100 
 
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 Tb« CommiMiowrs t»b>«c( In ibtfUof. ■• b«ing wnjutt nnd u»r«|« ^1 
 •on«blf. otiMrviiM. that if k« oan ft«t Bllla at 64. in lh« UUIar. hi* m 
 (1«U can 1)« aaii«niKi for onm ««nih of ilia ainniinl juatiy dtia iha Imii. In 
 lulioo, |iii() of whwh ha haa had full valua. Uy «uoh maana th« publia 
 Will U ciaffaudad out of 4a. Od. iuavary dollar, whioh Mr. Daltoo wUI m 
 put in hia (Hx-iiat (and a faw oihara.; Tha Commiaaionara raquaal lo ,«» 
 know upuu what nrpundMIMMMW MHAaaort that the btll««fa otim, 
 Worth 6d. Ill tlia dollar. ^ 
 
 ^Tha arbilralora niada iin award, thtt tha aaid Thomaa Dalton do 
 phy tha KinKiion Bunk ComniiMiunara Iha aum of 4:900 in quariarly 
 inwiallinanta uf Xai 5 aach. without iniaraal, and in any da^anda b« 
 ««nftru«Virt« i^aiudtof c«rli5c«taa givea ibr aiock. 
 • MtMfiiAi^tt aipnad by Barnabaa Bidwall and Dougiaaa Pf«iir ^i 
 Ha«. The Coinmiaaiooara raturi^ tha (iward, with ihair reaaoiii,<4MMr 
 That th«y conaidar it contrary ioMm aubmiaaioo and theStatuta : that mi 
 ftook nolo* ware not traoafarabla^llatarbitrat^ra w«fre not authoriaad 'J 
 to antar into a quaation of limr, nor l*t to ordar a rotaiiM g| ta^ D|f»o« <H 
 trty iiakJ in,/Mcurity fof a dabt, untiJ it waa aaliaaad. ^ 4 i*ff iSv^.. 
 Tha arbitratori laturo tha award without altaraiioo, accompanied 4 
 
 4^WARD RETURNED! .^ v t .., *» 
 
 Tha GNnmiaaionera lalurn th« award in tha mm oT Thomaa I|||. 
 , IftQ with wiittan otMactkma. Tha following ara axtracta from the tin '!» 
 iiwar of Mr. BarDalma Bidwell to tba oli|)octioQ of iha CommiaaioMra} t^ 
 
 _^pot tfUr the moat reapectful attention to your objectiooa, I aae ^ 
 MTtauaefor chaiuting my opiaioot on either of the poiata which ap. ,„ 
 pear to you objectiofieble. 
 
 1^ *« You thfbk tbftt the Defendant'a Bink Stock ought not W have ^ 
 1»eeii allowed to him by way of aet off la judging of that point, we 
 ought to b#er Jo mind that the aueatiop to be decided waa, between 
 the late Bank ae one perty, and Mr. Dalton ea the other. Theae ere 
 tke «>iify pirtlea in the oear. Tbefr mutual oUima were eubmttM, ., 
 but the anlmieaion did not extend to fti]Cj|tteetio|i or claim between ;^ 
 tl|e Bulk end ila creditora generally, or any ocber partiiular petty or .«. 
 partiee, ea between the Bank and a Stockholder fbe latter ien oreditor 
 to th e amount of S tock paid into the Bank by him, and no t r eirobu r « — 
 eed to him, Imt atandfiig to hif AiedTt oe the Booka ol the Beiik„««d ; 
 
 
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 I CM aee no leeioo^ in lew or equity, why, in a aettlement 
 
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 %U BaiiIi aiMl Ma^ liillMl ll«era«l!t««l to h(m %hcM MlltatlMr. 
 
 •d by w«y oT iWnluctlon or mi off. tad Um kMibnet b« ountldAMd lfc#| 
 IfiM d«lH dim (r\m% him lo iho Il«nk. 
 
 **()n that |KHut <h« thfcM nrbiUatort wtrt UfMinifiMMM of opiiiton*| 
 Ihslltm «kir«ndanl't ilocli tetuatly Mid in, ind not r«iiiiliMrMa,»h(jut4^ 
 
 lM<ftllow«d to him by way of ■§! odl - ''' ,..^' >4»W^_,, ^ 
 
 ** In tho prvtoiit act, itttck croditOftSfa HOf OBWMWrailHVMfiw^ 
 or bunk creditor*, but |iUc«-l on Iho Mino fiiotiiig. Th«y •re •iHiil«4' 
 iNiually with bill holdtnaiid e«rti(l««la holdofi, toathibll thvir nlaima 
 •nd •haw la iha dividixid-. Tha Comntiatioaara oanoot lagally ••- , 
 cluda Of i)o«ljiooo tham. • J 
 
 U r« Wlu a. • n<K»tM7 uui lli yi ii m i that a atoek araditor k afi4.T^; 
 ll«d |o ifca aamo moaa* o| obiaimng psyment Ha may tliara6>rai •• 
 I— ^tiiBIM. mott hiaatock or«iil tofirt i i il il ii tln i i oT — f" ) 
 dobt doa fnwi him lo iha Bank, pfaolaafy H Ife »f|W iat olf a nflla a* J 
 bill, or any o<h«r ovidflnco of n b«nk dobi du« to him, baak aradi|^ 
 ttll ara. or a« tha Commii»i«ioar^ h«vo ei|ir«aaly daclared, ahouid biF> 
 placad on oracKia^ tha aamo footing. Un that (kit and lacogniaad « 
 princlpla tha award wa- foundod. . .. . , 
 
 An<.iliflr objection which you maka 10 tha award fa, thai It alloari * 
 tho delcndant to pay by inatallnMitta. On (hia point I bog k?«»« lo >^ 
 •tata, that aa tha dalondant otrorad' to pay in the mannar and at tht *.» 
 timaa apaciflad In hiainintraot, but waa pruventod by th« ra(tiaal of tha ^ 
 Commiaaionor* than rapraa«nting aad managing tha Bank, so that 
 thcra waa no breach of contract on hia part, ail three of the arbitratora 
 agreed that he ought now to be alktwed a reaaonabla lanp;th of tima 
 for laying tha balanoe that might be fbvnd due, and a majority of tha" 
 •rbitratora, aa you aoe b> the award, thought he waa entitled to the 
 •ame propoittonabta inaiallmaoia aa waa ali|HUa|Dd io hip originai 
 
 wilrict. ^'' *'^' ,^ . % 
 
 M'U fft.» aettM prioaipla of la w that tf any pntty, to or for whamif 
 •peciAo cantraoi ia to ba parfornwd, by tho delivery of apacifto artl. 
 ole% Of tha doinf •f any apeoifiad aanricaa, pravantatha parlormanca 
 f^ delaHng that ba will not accept it, or by any other worda or aota 
 •uoh refuaal or prevention, diachargei the party thua praventad, from 
 Any iRiftbar performance, and la a legal bar lo tha pravanting party ,^ 
 >iiyrain«t any action for tha non pt rformaoce. 
 
 • The Daicadani'i caaea come directly within that well known rule ,« 
 «f lai. Thia ci&rad performance of hia aooiract bnving been rafu- 
 «BdV tha Commiaak>nera, their auccaaaora, tha Plaintif&, had at taw 
 mo rfatbt of aietioa agaioat him, and could nbw only coma in aqujty lo 
 
 ^^laiminy pirfonnanee whatarar of the contract, and that whioii ih #, 
 %wAir<llid, tppaarad to ba aquhabla, being (n raapect both to tha tima 
 ^•nd aiMdiit 0f tlib inatallmenta, conformable to tba farina of tha ofifi 
 
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 tit paifawM • (|r«wt trnmftadfivt in tnw, w|<i writ«t m funpRrt tf « prif>> , 
 rl|>l«i lo f'tvor ft wyrtlil«ii4 IriorMl, ttXftltjr •! vAnoiicw in «ll bw iin4 * ^ 
 Jumkr, whirh a f»iv iwlkxU hi>y #<miI.I m* itirTf«it{h n»'l mmtU •• o»>», j* 
 otitottd 19 (inwtt(il0 iVftiMf, And nmmtnt«t'» llii«. -thai if t«Kior twii^ ' . 
 
 lo curry on builii«f«i aO't Iwrfwne Mivo'irml. id «ii!l»l. wlirii ilt« «r«<lii<tra ^ 
 Mk tor pay iKay oatt HMmi««tva« er«<iiint«. mid tay, tMifon yMgal 
 i fr^ctbii ofyuur m]^ wt muat rtrtt la|« cmii tim aiiHHiat wt pul lu at , 
 
 aloel.*] ^\;, :;,^^jaA#A^ _ ^ ^ ■ , \. 
 
 Juna M. 1880.— Mr. Dtftftn applM !« iha noartf for lib ^WfaitJ^**^ 
 to bt mkaaad rrum lli« moitgnga. 'I'iai CufntniMiau«ri ngroa to luUI' 
 fpuntal up«»o tH« c»««. ,Tl^ 
 "^^ En? jRi ^Mffi the CouniiWnl^tfm 
 
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 ' *»4tli. Tl«0t pari oi ihfi HtatutQ whi«li anada thai iht awar4 i>f A«^\' 
 bilratof ahall ba 6iiat anil biiM»in« upoirtha parlraa-^mnit \m conalr©* * 
 «<1 irt rni^i»n, an aaarti troa friwi lra«id. and onm atithorl««'»l by tha a^l^* 
 •n'i nniaa in thk oaaa, in dirael oppfiMllMi to ila prnviakraai'' .- ^ 
 
 .Ivly ni, iHSft.— Mr. Thnmaan movta that th« award nT ttia Ar(il»' ^ 
 
 trttdni in tha i-nat oT Thontn* Ylaltoni he rnmp(i<td wjtl|. flxeapl i> ^ 
 
 mut^i ih«r««d M ralatea to rft<*«iving ribck cartifti-ati** nnd tha giiMfe. > 
 
 In^ ratattMi frofn tlw morigagv balora pityoieut ia inade. . f^f 
 
 jil Y't-H. C Thomln. '^^ - ; / , -f ^ 
 
 toilTNtya-JohftStranga, HanrySndlUi. U #0 i t* M 
 
 Not. t7. im^Boaidsiai $iliH-HagkC.ThoiNl|^|^ 
 
 iMd M«I)on«ll. - ^ ^ • ""^#^^ 
 
 Mr. Dabon appliad to tha Commiwdotinta to at^apt (ha award in '< 
 liiacMv, that h« would ralinquiah the part relntinjgE t'* fMiy^HR inBtmk , ' 
 Certiiicalra. The Conimi«iii<m«n nreaent f nio<t thnt the awnrd be ac. ' 
 cupted. At i\\9 re<]u«at (>( Mr. Dailon^ tliey r«)l«fla«) a portion of bin 
 pra|M»rty from tha mortgatfa^ raffed the Bnltnry r<f>tfi, to enable Mat to 
 purshaai eanifloataa fo pt^ bta dabi* m6 be would ask no furthar r«* 
 itate until hiH debt WAN paid. 
 
 it * 
 
 '■ Pae. 10, liao.— Board me|v Preaant— Hugh C. Tbomaon, /oho 
 ' treagr, Archibald McDoaelL 
 
 Mr. Dalton applied to the Board to fet hia Brewery, and 400 aerea 
 , jyttTiand in Murray. The nnajority of the CotnmtMinnon conaent, and 
 ^IpiliyrafMrty raquaatad ia releaa<Ml &oin tba mortgage. 
 
 * Hay 4, 1883.— Mr. Dalton waa requaated to deed to the Ca^nia » 
 aionara tha property not rtleaaeU from ttw mortgage. Ha replied that 
 
 
 
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 be blM aoM aaid landato pay hia debu, except the broken (Voiil of Nob 
 tb«.T(HNiahi^9i Kipgaloo^ wMeh ha Rqnaatad 
 
'«#- 
 
 V 
 
 i 
 
 w 
 
 * 
 
 s^f 
 
 Md Uw»a Wlaf rSmpHltd. wcxikl not tf rw $m lh« CoffM 
 lo HWtitt IN |>«in3MPM mamy. Anmwmf f(um4. Nuiir* ««• 
 llfM IB Mr. DrtunmoiW tool lo pat«h«M th« wmI bmlMQ (fo«(, or aiiy 
 
 ,^ tlu(n« of tmi ifll«rm«t|ii#t d4«d9 of ihia brokaii lr<Mit h^ MR tMNHi 
 MHNirtM. John Htkirtwc «rM lh« kitl Uniilim oa fMurd : \m, mi ^ 
 il^Mti of Mr. DiUloo, oit^uivd A dMd 4(nol to Mr. Dfummaod. 
 
 Tha Cofitmi««k)fMrfl ■ubftftil k» llM I>^i«l«luf« iIm prOfifMHjr of \m» 
 fpHiyaliog ihit lrtnM4;U)ft.| Mf. Dillon, having rrm|iMnlty iafti4«i 
 ll p«jr III* <1«M« ihf Cumiiti«bi8it ^kmi Uw awgual lo Uw Imidi 
 .11' llMir Itelicnof fer ooHficuoo^, »• '^ ^|4,:| . , .*^. ; *. • 
 
 start afUr lh« UmI iiMHalhiMni wm <iu«, Iht CominiMion«r« inalilir ' 
 In a anil aiaiatC -Dtlioa. IMIimi'm Couiiaal amkavuratl lo lat tli» . 
 givard umdo, but whirte did mH furoaad* and lb« damafaa witm •mm» 
 aad al iho tut Aa«baa in KingMoo. Tho amounl ataimad wt» £t<N^ 
 «• ■UU'd ill th« award, and inUirMi on Iha inalallmanUi nAar lh«v bti 
 canw du«, lo b« {Mid lo currant monajr, Iha intlallnaaoita aul Miii|| 
 ■lid ia any l«gMl liaMliliaa afaieat iha Baok aa tb^y ba<»ma duib * 
 Acconiini lo law, whan any artiolo ia lo ba doltvfirad for any eo«uMdar» 
 alion, at> a oar(ii|J|pM and n ag laota d , ika valua ia dua in oyrrai^ . 
 laooav. 
 
 ,„ lildga iooaa diraclad Iha Jury to find 00 danaafMi lioaaidhadid 
 not oonoaiva thara could ba any on Ibo noii.payinant of £900 in daa 
 praoialad papar, worth about dd. in Iha dollar ) conaaquaatiy Iha vafi 
 did waa only £900, and application haa baan mada to tha court •bof#*l 
 || My it in any iraah Dafiiodaoican pick up for marvly ootkiaf. 
 
 Nolwithataiiding Judpa Jooaa' opinion, that no damaga ia aintainad 1 
 Vf tha non-pay mani of £900 in Kingalon Bank Bilb | it oaa ba pro- 
 vnd, that that aura, with tha iolaraat dua from tha award, would pai ^ 
 About 4a. in tha pound lo all l^« lagal cradiiora of tht Bank, and mmn- 
 Ihat Daltoo ia Juatly dua at tbia tima an amount auflWiant k> pay all 
 tha lagift cradiiora of tha Bank twica ovar. 
 
 Tliat Dalton actually owaa tha ioatitution about Tan Thouaand 
 Pounda, rackoning tha tntaraat of hia dabia agraaabla to Bank v«agt| 
 fttod yat auch a man haa found friamb to aaaMt him lo lob tha puMio 
 out of naarly Tan Thouaand Pounda. Dallon haa aaid ha oaa pnv ; 
 ^ Bank daU for £100. 
 
 ^ Tha ciaditora of tha Inatttudob, i^ iM«y ol tha 
 indi|08nt at baing dalraudad out of their propaity, and wiak to know 
 paftwulara. Tbay may ba traead to tha I^MNra of tha laat Aet, OM 
 
 Vt' 
 
 _„ «aa Dallon, who in tect iatrodooad tha act, and waa ona ol 
 Jha (rand oonooctora of tha crafty daoaaa, taiong whwh b tha oM 
 ftUoKim Daninii of tlw l—^wtiw^ id dammaAam, aikiiiaiMiifc ibai tibav 
 

 » , ' 
 
 
 r 
 
 m 
 
 1 
 
 « 
 
 • 
 
 S 
 
 • 
 
 ■4^^.. 
 
 
 
 ..V 
 
 / 
 
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 m ' 
 
 *•► 
 
 » » 
 
 arn,^ 
 
 te lo^ Ml IfMiAlliiMaia, iImi will tafc« •bo«« t y«art lo Myt Ini iW 
 ItiUllMlMflll olllwir Ill^ltit7 1 ^^ urAm iImi m km^m iIhII If 
 |l«M fe# tfM UM of •ir«fi iImI rvduoii aiiMMjnfi tnd tMa to emvii (|i 
 «iiUiii)r. «fi<l W«il liiiowinf lliia v«rf awanl mu«( n»(lu«« lh« ifMMM af 
 IIm UmIi from |M]rtng lb«ir ar«dtki«t, iIm^t Jiract th« •wtrd to b« pti4 
 ipilk uMtfmtMMM, tiM fvry Mta of iimm vkktnmm htft dtprMMMi 
 
 ^Tlw rvattli of •oiMhor •«r«r4 vrf « Jtbtor tft • hiffwr tm^wn^'illii 
 UniM fiiumloil M|KMi lb« Mnw prui liilijl whirh otto of lh« arlMtrabira 
 J| Dtlloa't «■!• VM A Mf^« Miw ilt m y <l««tro)r««J ih« pro«|Mcli of 
 IMyinf ihoorwiiloraoflfMlkiiili. Tim ju« 4ftl» of th— Iw <ii>tW*, 
 woiiM iMtro Mt4 atl lkf§ QMcliMM if Pto iMlilaiion 90c in tho pot>n4 
 
 
 IV* iftditoc*, <kalfO]r«d lliai ^trnpt^L 
 
 It iriU b« MtQ from lh« tiNMla, that tbo awtrd in Dtllofi't MM 
 w» m bmm, iImI iho (^'om m tw io oaa voted agaioft rac«)ivtnf it t h%B 
 oauaa, tlM aubmMaion dul not ftlbw ttiom lo aaaaaa <J«ma||«a, or to iaii« 
 upoa ihaoNMivva m |*v« iim«, or litOhkr |Mym«nt tn baao mom^y or 
 
 Cp«r. toil moro mpmHM^if to dirm:t that any Bond or niort|«g« thaU 
 csomIM iMfora Iha debt is (mui, for whioh it was givan in acaurity, 
 
 Um ii«(M tha Commtaaton 
 
 a(Ur, and Mr. MoDomU 
 
 
 iMiora um detH m mhJ, Ibr 
 X|m ouiakMi of aavaral oouomI mt$n 
 SmI tM«o in tha jpramiaaa. 
 
 Mr. Smith raakoad hia Coromiasbo 
 pM •f»point«d io hia ptac*. 
 
 At t Boftrd— praaant, Mtara ThiRiaoti a^ld M«Doii«tt~ni||«lt mn 
 pA tham to aocapt tha award upon oartain oortdiitoaa, and aiao lo r*. 
 mm p*n of hia property from tha iwrtfaga. iS6am lima after anof har 
 pert waa nlouad, and aoon ibay had 00 hold of any of hia pivpoHy to 
 a«fiura hia dabt. Tha plain fact \^ that Dalton and hia agoota haw^ 
 (airly tricked the public QUI of M»rlf Ten HMHtMOd Pouoda m wm 
 aple iod iotereat. ^ , ^ ,, 
 
 lOTlACTfT^ltoM THE C(SR&ii0!fElt^*' 
 
 TIIK LEGISLATURE. 
 
 •• Such debtora ■« were diapoaad to avail theroaakee of tho kM 
 •iooa of the Sletute, hiul aubmitlAd thuir aconunta |o erbitratioii. 
 
 •* Mmj Mooeeta are yet unaettled. ariaiog from • variety of ettf- 
 lie beyond the control of the OoraMiaaiooera. Many deblon hev«; 
 leA the Province : many reeided oUI ol the Province when they ooof 
 liMCled Iheir dehu : aevemi hive diMl witkpit living iny viaibto •!» 
 M« ; nuioberi plend inaolvenoy : oihera hnM naftaettd lo MiMit 
 tttirMcminle ; aooM diapute the eltiraa of the Bm^ whihi ottieii 
 
 diaooyejr, alihoutfh aiiolk time wna iDeni in mrrhing the book* oai 
 olhor dodunitiitit Moii|i0| 
 
 »i 
 
 h 
 
 ... ^^5^._ 
 
Wi 
 
 LHs 
 
 m ■•»..•. "■"» ■ - ' ■ 
 
 '*^Im ConnitiMloncrt tubmU to th« L«git1aUirt (ho iM»cetwty of 
 providing fund* to inittilute luch leftl Miiui «■ may be cflquitiii*. 
 
 **Hiidlho CominiMionerf «ttt«red upon -thoir diitiM toon alW tho 
 failure of the In«(i|utiun under a wetl framed law, in all probokMlil| 
 tbe buaiootti might have been aettled. without much injury to any 04|%- 
 By euin^ring aeveral yeara to elapee aHeff the fiiilure of the Bank, bi» . 
 fore the prvaent act waa paaaed tite relative lituation of many of (lie 
 I t JMMora were altered. 
 
 \^ . **The intorferonce of the Legialature deprived the Stodtholdeni of 
 
 ^ the right and power to wind up their concerna by plaeing them in the 
 
 *^ , . hantto of Cnnfmiisionera for that nurpoae, and waa oonatdered by m^» 
 
 ny to be unjust and injurioua* and ieadod to deatroy tbe moral obiigi. 
 
 / tioo which honest rocii owe to each other in bUaineea tronaactiona. ' 
 
 ** The want of 'funoi, and tbe olauaa ol limitationa, cauaod many 
 
 ^ dfbtora to free thenuelvoa Irom their obligationa. The debtora were 
 
 ,* toettered about in both Provinoai* the' United States, and even Eu- 
 
 ^tftope^ and although diligortM aa well aa expenae were used (o find 
 
 .■: — ' " ■■ t^ j hero , and ascertato theic eiroiNDstancea, very little oouM be dooe on 
 
 ^lUlDcouat of evoaione.or delays, antil the limitationa expired* 
 
 To perioral auch a long chain of acat(ered dutiea required nmn«y, 
 
 which tbe Legislature omitted to aupply, but leA the Commiasionors to 
 
 their own private resources to support their t)Sice. Several stimR have 
 
 j^jpea expended in travelling expenses by their Cleric, in searching out 
 
 ^debtors, examining wild lands received for debts, and emlcuvoring to 
 
 ,,|Mr(ect defective titles by prociiring witnesaM to deeds iif>£:lo.:tod to bo 
 
 regiatered. To which may be added Poatage, Stationary, Adverli- 
 
 4^og and many other itoma of expenae. i ^-'k • 
 
 ywliSFlMt follow^ extraeta are fiwn the Eeport made January, 1896 ; 
 
 *>r '^ The Commiasionera regret* notwithstanding (heir utmost ondeav« 
 om, (ha( tbev have not been able befofe thh period, to bring this very 
 ^^iMiplaaeaBt duty to a close, but some neW difficuUiea are constantly 
 ' 'jpresenting themselves, which make it impossible. ^ * '^^% '. 
 
 <>« u «ri,« ^5^4 of fm,(j|(| prevented the CoRiiqisaionarB proceeding to 
 Oiiie biat Advantage. If they had Uen pr^vki^ with funds by th^ I^g - 
 
 ialature, tliey might have reoovereddebta which are now lost On 
 
 Jlbal aoeount a againat defaulterst and the very 
 
 \^iriiofft panod of the limitationa lek no time to provide a remedy. There 
 
 '•«oifUl ha 00 prt>«pect of receiving imrrem money when payment coiiyki 
 
 iit nM4a (o too Institution in biUaobtaiOad ai a discount. ^ip^ 
 
 ^^.Tle Commiasionem havo up to thia date 8«pporte4 their offieobn 
 
 «»i4koNr owo reaponaibllity, which required a Clerk» #hom it ia imp^ 
 
 •iMelaiiiBohai|{e until a final arraogamool of the aflklira of the Intti-. 
 
 lolioD>; and he has on that account been p#oyeoted iii onganng with 
 
 othOrbOaineaO which he expeotod wduM 'bo voire profitable to hia 
 %fiMiU3r# and oonaequently a detriioent Wiien bo ongaged it was be- 
 
 tievod hia service would only bo roqairod Cot taro yoi^k : f ,v 
 
 
 ; 
 
 
 t ■ ' 
 
 It. 
 
 i(*-\ 
 
 "I -! 
 
 ' f 
 
- » 
 
 
 t 
 
 ie«bii 
 
 ■V » 
 
 Intti*. - 
 
 *1 
 
 Switk 
 
 , ^ 
 
 to his 
 
 * ' 
 
 ulbe' 
 
 
 -vf?;/^.: : 
 
 ■; -, ^ 
 
 
 
 !-f 
 
 I' 
 
 i**' 
 
 t 
 
 
 ; ' •• • V ■ ■- • 
 
 ^ TIm CommlttioiMira were appointod uodor th« proviiioaa q( to «#' 
 '«f flM LtcUltliire of Upper Cenida : to that e^thority Ibey wbK tA 
 MMke e full ■tateiMiH of til their proeeedinge. For that j^urpoet 
 ebey leepeetfurily requ«tt that your tUtaallenoy be pleaaed to recom* » 
 «neai» Ibei a Coromkteo of the Hoiuiralte Houae or Aiaemh^ be ap^ 
 i|ioidtn4 10 innMligata all mattora ind thtnga done by them, at Daak 
 ComoiiaaionerB, end for that auirpoM their Clerk be sent Tor and ex« 
 AOdiMd, who from hie general knowled^ of the prooeedioga, will b% 
 ike MOM eonpeieal peneo to gift thejeoMaor/ iiito{Rt^ <o ^ 
 Ltegielatiire* •.■,«!./..■' ■'»'♦-, ' ' ,' ' 
 
 MITARD IN TflE CASr"oF%MITH BARTLET. . 
 Mrrillilh Bartlet, the principal credkor, deiMM^ an arbl^Mtfon, 
 •And io Novti»ber« I930| hli «aae wki dbanilted b the foirowjug lubt- 
 iretoras . i %:y '::"-: fvl *" '. ' ^ ^ ■■■'■ 
 
 For the (ToMinltabner^ OeorM #• YtrHer, «* J W^ ^ 
 
 ror Mr. BarUel, , Oirnabaa BidWil?. 7 *^ 
 
 0»piro. ^^^^ Dr. k W. Arft)afiong. ^^^^ 
 
 Tke demand on Mr. Bartlet wee; wKl ioterett on Bond and Ifort- 
 fege; MMX Mr. BartM presented a pot o#ekailar to Mr. DaKon, 
 It^ yihied und olaimed the amount of lia atodkv at 5a. in the dollar, 
 Mid on 7t Bharoe« ^ £784 « 
 
 Heval«t8ll|eaiiiouiiiofhisbondat64ilithedollar,at 489 le .0 
 
 41>. 
 
 a •» » 
 
 HMciag the balance in hia ftvoij^ 
 
 , 845 2 
 
 i. Bidwejl and £. W. Arim(roi|; aign an aw«rd to pay L1750 
 
 io quarterly inatallmenta of LlMeaeC without interest, in any de. 
 
 ' fttafidi agauMt the institution. Mr. Bar^ pnid a portion of hia iTward 
 
 _ Id etrlUtoetea in due seaaos, and tkk biknoe in aomo land qeer King- 
 
 eton, «ad sundry tracts of wild landa inliifleraaifarto of tke proviiike, 
 
 .^ MOie of whiek were %i^4 .of^upied by perMoa having itilea lor thorn 
 
 1-3 
 
 >tMT WiirrMKr demanded an vbitration end hie ^eee aubmit- 
 to ike Moeriog peraoQs : ^ 
 
 ^jineeW. Amislrong, ^ « ^. . . v 
 Wra. Driscoll, . •._ .^i»r:>;^t.-n»».*» ■■?!,, :;.■>''. 
 ~'- "r"'^'- Michael Brennan, ■• ■ T"'"v' 
 
 Of the Bank ageinst Whitney/ " L947 4 4.^ 
 
 Wkitoey olaimed as a eat off, i; 480, Ae amount paid by him on 00 
 
 .^.A*m «f epock, ^i^l ajao i:«260 he mid was promiaevt him by ^ Di- 
 
 — -•*- fi^Jl^iieeriripea. the Qomm^ioners object to.tbe |HMW(RI« 
 
 r *•«■« #l>y fi^ftoer of a joi|it ktock company e^' ^ ^ ^^_ 
 
 , , .^Mte oi <be company wore p|id. Alao» ikat I19 had ekMrn 
 Bo legal proof ib«f any thii^ wna due ti» him for eervioee* ; 
 Um^wardedftgrhimtopay /^103 4 4 12. Wbitnfy pi»^ 
 > ^ Mpottjot III x!«fjUj|cftt«f givett (0^ '^ V 
 
 k 
 
 'm 
 
 »4 
 
s^ . 
 
 y 
 
 % 
 
 
 i 
 
 ^e* 
 
 .'•• » ' . ■ ' ,i ■ ■ . ' ■ • 
 
 HiMtT d»ARAiM, an Ac«nt, donwnM an arbitration, ancl tb M- 
 *%wittg arMtraiort war* choMo— Maaan. Henry Caaiadjr» JamtaBol- 
 100, and Jamaa* W. Armat^onf. ^ . ... . ^ . ,,^ 
 
 DamandaoTthaBank:— ,. ... _ «*! i i% 
 
 
 Aftncy Account, 
 
 Amount of noia and tntaraal^ 
 
 
 
 
 246 4 
 
 ' ^^^^H^*- ' '- ■• Total. ' : •*" "*'^ ''m, U 10 .. 
 
 #! Jlward to pay L 317 in Aill of all cUima, which wat paid la cartfl- 
 
 il' 
 
 for hilla. 
 
 *|r.i^J»«*43'».A 
 
 '^ , vARBITRATK)NS. -'. V. t.- -i 
 
 ' '*%trtT peraona damnnded arbitrationa with Iha Coramitaionara. 
 ^ The demand againat 38 was nearly L4000, making with iaiaraal, 
 •boutLSOOO. 
 
 Except tUa Agent, Henrv Oraham« the other dehtora' claima of aal 
 __flff, ware only the amount ol their etock againat the claima of the Bank» 
 Which the arbitratora invariably tlloared agaioit the amount of their 
 •olea of h)nd, and without adding the interaat due on tham. 
 
 The reault waa, that only about L 1800 waa awarded in (kfor 
 
 «f the Commiaaionera, about L 1000 of which waa paid directly in a^r- 
 
 ftlfioataa, given by the Cpmrniiaiaaara. |-. 
 
 - Oenaral rtault ot^tha arbitrationa, filiotoding Dalian and Bartlet ;— 
 Amount demanded with inteireat, L 10,800 
 
 8,66fr 
 
 :i^. 
 
 ■ < i '*. 
 
 i: 
 
 18,1A0 ^ 
 
 ^ 
 
 Amount awarded to Commiiaionera, 
 Lott to the eraditora and the Stockholderai not o#- 
 £',J. ■ ing a Bank debt, .m.r.,.uiH. 
 
 iVoltf— Some errora had to ba cof lected aid allowed to Meaan. 
 y^Hileat Evana, Atkinaoo and othera. 
 
 ^ When the Commiaeionara objected to the demand of dabll^ 
 partnara in a company, to have their atoek eet ofl' againat their juat 
 debta, they laferred to Dalton'a award, in which ^not only atock waa 
 ^•et off againat hie debt, but ibnr parte of his debt-^ihat thay had mQra 
 , ieaaon to claim damagea than he bad, ha being a D'rector, and waa 
 one of thoee who, by his improper conduct, deranged the Inatitution, 
 The aibitraton were convinced of the juatneea of the plea, and madt 
 their awarda accordingly. , „^^ 
 
 '|i-: -^'u.'^ , •■;■; law matters. ' """''' . '^•■■ 
 
 'i Mr. C. A* Hagerman waa applied to for a atatement of the monlea 
 «nllectadr and otter pftrtioulara raapecting^ tondry promiaaory ikotaa 
 ki iiivor of the Bank placed in hW faaada, aa their Sdlichbr by ^ lata 
 Dhfaotora, to ba collacted b^ law. The following waa raouifMlti te. 
 ply, but DO aodount of moniea received by him : ^ 
 
 Tb ooa^ in divert auita brought by the taid Bank againat diflbrviit 
 
 •r ^ 
 
 y' 
 
 
imNBol- 
 
 AMm 
 
 9 10 ., 
 in ctrtfl- 
 
 "^ f . 
 
 I 
 
 wntn, 
 i ialtratl* 
 
 imt of Ml 
 IhaBank,. 
 Bt of Uitir 
 
 I in fiifor 
 sUjr in ffr* 
 
 rtlet }— 
 1,800 
 l,66(^ 
 
 BylftO 
 
 df bfort M 
 ; their juat 
 •took wu 
 rhMinQr* 
 ', nndwM 
 Inttitution, 
 •ndnuul« 
 
 the monien 
 NorjrikotM 
 
 tifidtete. 
 
 • ' 
 It diflbi^nt 
 
 /' 
 
 '." ¥ 
 
 *. 
 
 
 11 
 
 11« 18 4 
 
 ?irMNM, £800 
 
 d my advioe ind pr^feMional Mnrioe and attfliidanoe 
 aftar the aaid Bank had atnpped paynwnt, 
 iTo ooovtYMicing and dmwiiig inortf agaa firpn Daltoo 
 
 loatidBaBk, 59 
 
 To caah Mid (or r«g|ptoring mortgage, » , , ; |i 
 
 paid on aecount ol Stock, ., •„! ., *, f„t,; ^ • ^ ^-^i^iiiiO 
 
 Total, tie 
 
 
 
 Cash 
 
 
 
 
 
 
 
 MiU.i 
 
 ■I 
 
 • '■'¥ 
 
 lmT ofIMtoM MiJTOTd^^ 
 
 TfljB. AiaUNT OF STOCK PAID IN-1840 
 
 N0tT9 
 
 Arnold, Thoa. 
 AHKint Andia# 
 Bafk«r« AbnUn 
 €liila, John G. 
 
 '/ i;.'' Amount of debt 
 without btorvMt. 
 
 hn \% 
 
 Aaioiui^ lif StMk. 
 
 -:/t 
 
 JCumminff, Baojamin 
 fDnllon, Win. 
 
 1 
 
 ilgliah, David 
 Ivaritt, John 
 'arley, Danial 
 ^Hayna, Oranga ..j 
 ifianry, Theophilii ^^iif,, 
 ~ohii« Solomon 
 John Stephen ds Co. 
 ilorrol* SioMon :, 
 
 Seif han, Roht. : 
 iaaom J. T., Dr* 
 IfoLofin, John 
 Okott, Benjamin 
 PolfihtEtieone 
 
 rSmiML Wm. Bynrd 
 Small, JpbQ , 
 Thorp, Henry * 
 Underbill, Thoi. 
 Ward, Elifba 
 
 . ■;»'*' jv.^H 
 
 ai 
 
 16 
 
 « 
 
 128 
 400 
 
 33 
 
 78 
 
 33 
 
 % 
 
 f2 
 800 
 
 30 
 106 
 
 25 
 
 16 
 6 
 148 13 
 
 80 
 118 
 
 30 
 
 
 
 18 
 
 10 
 
 lU 
 
 
 
 13 
 
 6 
 
 
 
 4 
 
 
 
 16 
 
 6 
 
 
 
 10 
 
 
 
 8 
 
 5 
 
 
 
 
 
 10 10 
 16 
 
 9 
 % 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <t 
 
 8 14 
 
 8 -•.^ 
 > 
 
 . 
 
 
 
 
 
 
 
 
 
 _40 
 
 
 .. JC\ 
 
 '*.h, 
 
 V; 
 
 40 
 4000 
 
 34 
 
 80 
 130 
 
 40 
 
 .83 
 
 
 
 400 
 
 40 
 340 
 
 80 
 800 
 
 40 
 160 
 
 ■M 
 
 40 
 48 
 16 
 
 H ' 
 
 (Unknown.^ n 
 
 :; do. 
 
 doi rf 
 
 ■ .1. i.» 
 
 ( (J. Slalia.) 
 (Englaod.; 
 ((Jokoown.) 
 (U.Slalea.) 
 
 (Unknown.) 
 du «• 
 
 (Toronto.) 
 
 I 
 
 I 
 
 ■* 
 
 4 
 
 Lirr or nirroKa owino Mornn than min avoox riio in. 
 
 , Amottatofdtbt 
 wpthoat iDttfMt. 
 ,, 1*27 10 
 
 ^■i 
 
 Bryant, Jemet ' 
 Bfovn, Daniel 
 Coy, Haffle 
 Comming, John 
 Vummingfe Benjamin 
 Foiyi ao n, John, Jiidge 
 
 100 16 
 
 83 
 
 866 17 
 
 tn 10 
 171 8 
 
 4 
 
 
 
 
 
 (DewL) 
 01 _ 
 
 ■t^ 
 
 * ■ 
 
s 
 
 '# , 
 
 * »,J 
 
 
 
 W^ 
 
 • 
 
 wm 
 
 1 \ . 
 \ 
 
 fl 
 
 1 
 
 i' 
 
 » ' 
 
 F 
 
 j 
 
 'W' 
 
 -^ 
 
 f< 
 
 X 
 
 90 
 
 (U 
 
 HvflM/lMli'^ .' 118 10 ^ ^^ ,r 
 
 Kmg. John, U. N. MH^»» «W 1 6 ^«^ _ . _„ ^ 
 l^k«. JoHn, Jr. W •H-t ~-#'*-^ ^^< #'*f-^» ^^^^ »«*<- 
 
 Mooro. John S'iS 10 # "^ r ^'tf|tt* ^jfBll^)^ ** w. 
 
 Pnyno. Wm.Capt.fi. £.340 18 a / M fy»^"<*^A^. 
 
 Hcnotlobury. John 200 14 #'. - » Mi^r 
 
 Bhephttrd, KlMuezor Oa 2 10 ' * 80 
 
 Whilaker. Tbornoi ^ 4 ||. 8«0 
 
 r,!'.-!,, "V* 
 
 
 f UnknAWAiJ 4^ 
 
 (Unknown.^ * 
 |N. York.J,, 
 
 LIST Of PKMONt AnBITtATM^ 
 
 * Dallop. Thoma*'**:^ 
 Dny, Lewm '■. t 
 
 V Kytuiit 6a Alkintoo» ' ' 
 
 \. 
 
 Aim irAV« NOT PAID^MUA Mim. 
 
 - |lee»iimn,i, J. k ;i^*r' i" 
 V' Beid« Marv Ann< 
 
 I 
 
 
 wh«n rtie CommHl^niN ippoifi!»»<f byth* Act tOii ittfHiiw i#ic*fj 
 paa»ed 
 duo 
 
 ip to tho pHrioi^ 
 
 limiyitiont NoY. UU 1630, by Iho debtors, was aboMt i<7000. Th# 
 certificatos, arH^n^ing to L6000, cnrried iattsrest, and ntif^ht bo ajKiUf'^ 
 Jj nop, making a total of L 8^700, thus lenving a bulunce oi iiliov9 ' 
 L 15,000 ieas,' — abont L2000at that time i»f hud debtn,. and euificieub 
 to fwy the amount paid in as Siock by the StoskhsUbra, nud a portiom ^ 
 of interest for the sante. *r 
 
 The abovp excess* Wis increased by^all the ciedKiofs ^f the Bank , ; 
 not making demands { for instance, the firsi Cbmmissionera issued 
 certiAcalas (or ZfO^lOO The*ftmMint preatnted was i«^&»000. kb'^ 
 1880 the Amount of bills prea^tedaras, LS^OOOl Ferhapa a larg* ^^ 
 Xamount of Bitia in prc^ortion totbe certiiloatea* waa not p>eatnteid» 
 and conseque;itIy ao much in favor of the Btockheldera. !? 
 
 Thejegai debts due. by the instUutkm art at this time hraa thtA^ 
 
 L $pOOy a sum which Daltou'a dobtia 1830 would have diaoharged. 
 
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 Bank 
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 Hall. Phillip F., 
 Iluppbura*, N. U. 
 Ivak, Abntr -t i 
 MeLeud, Alax. 
 f*riagl«» John 
 ^lougbtoa, Wm. 
 .Samaoot Raqyt 
 ^(owart, Wm. 
 iJiuHo, Wm, 
 Tutito, John 
 WilJianrji. Robti*' f 
 AVilliamM, Tbomaa 
 UoM, Wjllinm 
 Xlubbina, Kdward 
 
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 tl'Titfullowinf rtnmiiu art Uktn (rom Mvtril latlMntia iMliMaUi, vfai., lU 
 
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 •aiAioatlon «rUi« l^iMolon, tod tbt CoiAmiMtMMra' Rtpofta, *«. Ai^] 
 
 The Bank aP Upper Canada at Kingfton, went into operattoa is- 
 1610, and had it been roa()uot(td with holK>r o^ honeaty, might hiv* 
 b«en profitabld tn ihu Stockboldurtt and parlm^ not vary injurioua to 
 4he publia, but the managoment waaplocaCitiavarioiottS h«wlb,Mtk* 
 
 Ann tha intflreat of theroatilvea and a, few (rienda, who in a Uulo liiM 
 became jealous of each olher,«and ruined the credit of the iaatituti«|h« 
 At the lime the Bank failed in 1822, it waa under tha following Dife0- 
 ttora-^Beiijamin Whitney, ^reaidaott Smith Qartlet, Caahiari Afoh- 
 abald Richmond, tienry Murney, John Cbouniog, C. A. U«gtiiiiMiv 
 .Miul HcLeod, l^bomaa Dalton, John McLean. Soma oi thani imi%- 
 •extanawro Stockholders, but i^ la well knomt aMny of tliam bMidfa Dah 
 Kon paid in very little for it. They took^tock and proroiiad to pay. 
 iby m <li«wunted note. In an ioHHutioi with only a fow thouaaii* 
 4NHlnda paid in, we find at the firat oparaliona of the Bank, WMtnay 
 ■at 4ne time waa owing, it for notea diaco^ted, the enormoua ainount 
 
 ^f <£Sa00, and«ndoreed by a brother Diraotor. Thicga waot«ii 
 
 Smoothly for <hraa years. ^ The Directors wer« well p^aaaad wkh 
 «aek ether, ao much mu that at an annuo! election, Whitney nkltlioy 
 4indeiatood «iob'oUwr ao well, that m ohai^ ra^tat \m injuriooa to fm 
 institution. M that lime J>altoo« wjth s<nall nieaBa,had baoont om M 
 •the paity, «ftd ajlawod <o pklt a^one with tkemk 
 
 Onetime the^ wodhies thought it would <baeonf«iiaot afid pfofil* 
 
 , abl^ jo reduce ^t^e inaufl^ca of thp amali ahofolioldera. J^kmr calM 
 a Riaating, ab4 prapoaed to alter th||Hri)C|lea of asaociatjon Vx firat ro* 
 duciog.the ti^ia ofiiotice fokijhat pMqMSOi fnaoii 6 jnootiia to 9 wwka; 
 thibthat the votes of » pimple maJcMMtyfo sdBSoi^t, .inataad of t«« 
 4hirds,; tjieq, that the Siookholderiliaff A vol© for ovary ahara, iif 
 ^atea(i>f the regnlar reduceil ratio as bis imroi^r pi •haraa ineroaao. 
 
 
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 Iha DiroctArt, (lQ|Mn(J«nt upon lh«m for lh« rtHmntof Mfryfiif on f||i|^ 
 buMiMM, moii vcHa d y» fo r this alliralion uolil one pvrtrm •mrtod ih« 
 <|u«c(M>n of ih« imprnpTtcty of increaiing tlw pr«Mn( fiownr of ih« 
 |arg« tlookholderi, which could havo no other objoct but to dmtruy 
 tiM noG«u«ry chifck ofthctnuiU •tockholdors u|»on lh« l>irMlor«,who 
 tIrMdy bad too much powvr ia their handa for lh« beoeftt o< ih« In. 
 itituiioQ in general. Two or three men in favor of the change had 
 procured proiy vote* which, togetlior wilh Whilney, Dalton, Harilel, 
 and a few othera, gave a tmall majority, and the meaaure waa deela. 
 red carried, h waa objected lo, ■§ the whole proooediiiga were ir- 
 rtgular,'^ » •?■•**.•,'■(■ "v/ ,'0,- r| , ,/_ ,' - .„ „--,^ . ■ ' • 
 
 Whitney iiHt C6. wxi proposed t^«! !?» Mirmi nh of troting ihould 
 be adopted at th« Hoerd of Diroclor* ; that ia, if n Director at the 
 board had 100 aharea, he hod aa much influence and power aa 6 dt^ 
 rectora owning together iqp aherea. The meeting waa indignant tl 
 _the ififamoua propoailion made. Dalton was heard to aay th« motkMi 
 had bettor be |K>aiponed, oa the gentlemen don't underatand it. Som» 
 of the Stockhoidern at the top oT their voice aakJ, **/QU Aft A Mt of 
 pwindlera ! " and the meeting broke up in dtaguat. 
 
 Mattera continued unti! 1896; the Difectora loaniag themaeNea 
 and a' few favoritea the lunda of the tnatitutioo.^ben a quarrel com- 
 menced. It appeara that Whitney entered into go. wilh a man 
 named WhiiaRor, and aecretiy opened a shaving thop for (ending 
 iodividuala a portion of their own Ainda. Some of them were madw i 
 to undentand that if their wania were urgent, Whitaker waa ready to ^ 
 •have tliem foe a fee umounting to double intareal, and Whitney urg- ^ 
 •d theae notea to be diacounied. The Director8,HlweTar,did not reliab ' 
 Whitney'a plan,d£ at a board he waaaccuaed of roal^racticea^ndaua* > 
 peuded until a meeting of the Slockholdera waa had. ^ 
 
 At tbta time £80(M) of redeemed noleaof iha KingaloA Baak wta at 
 Mootrtal. Whitney heard it, and gave out he waa going in another 
 jliraotioot but poated down to Montreal and preaented hitnoelf at the | 
 Bank. The Caahier, ignoiant of mattera at Kmgaton, re«ueMd Whit* 
 ney to take charge of the packet of nolea for Mr. Caahier Bartle§-- 
 Thia waa exactly what Whitoev expected, and the packet waa handed 
 to hkD ; he then broke tlw aeala and made uae of a large amount of, 
 the Billa. Dalton waaaent poat after Whitney to Montraal,and took the 
 opinion of the preaent Judge Stuart, who aaid it waa an act of fokMiy» 
 •nd bo W.f might be apprehended aa auob f|; ** i«r w - . m ;tv; j ' , p 
 
 ' Theae proceedinga created an alarm and cauaed a run upon th» 
 Bank* which increaaed by the reporta of Whitney and bia pait(iana» 
 who appeared determined if they could not rula, to ruin the inalitutioii» 
 by flogging the Direotora witb the £8000 rod Whitnev bad atoloi. 
 
 The Bank had puahad out a large amount of BilJa for aoaaMU & 
 tapjjal, an d waa aoon drajnad of fta apooie. ThIa cauaad an extm 
 fmuvG, which i^aa increaaed by the ignorance pt aoma, anAdMigniagT 
 
 
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 fcWfift IwAlnir out for apeculatiiii. l6of thloklog, •• the ipicki wit 
 
 12? J^ S*ir **•** **; ^^'^'^ «~«««. They hid eoiotCrof the 
 awM 4tM it t>r notaa dwooyniod, end were eeier lo MMor aell Bills 
 •ladiaoouot. whioh Ihey had in poKtnion, bUeviof thft DIfMtore 
 iMd i«iued ih# billa of th« inaatutioo (er thair owThtMlt, for the fery 
 
 JJKT.fL?^''??"* ^ P***»'**'- '^y *'»•'' «W "i*?****"* of »noi 
 «« the Direfllora did not warraiH tharo lo have aaefi hm luma upon 
 
 . eaeh «»»(• '<»«l»n«ibilHv, maoir of iheei hibg mere nibn vt Strii^ 
 «ol siMh Wr than DaW DaltoA end Ballet aodoratd Ibr eeoh 
 .!liII!'tiJ"l monty waa not tortb4ominf : it wea the aame with 
 •oiMr Uirectorvvvther bad notaa diaoo^nted. and renewed thera from 
 tUne to J ma, iftMea<f of paying thma. The Bank faMinf . deranirad 
 the enfhir and partial mode of kwiillg aech other moniy at the ax. 
 penae oC iha oommiinity. Dalton oMnMrly L4000, beaidea a larn 
 •moupt ba reoeiirad from dlaooant«,.(fta praaanter, he being the eo- 
 ^war. Mr. Bartlet geire a bond fof ;i:,4500. Theae two Dirftctora 
 
 ill!*!!ft!^Al I "^u ?• ™^^..?^^*l«*» to the Stock Dftid in. 
 Mftoy other Oireotora had baen puJIigg «way at an unoonactonabla, 
 fate, hut mere moderelftly then Dalton and Bartlet i however, both of 
 Ihem came forward and aaid they w^ra not able without derftogmg 
 .«eirhuaineaa,to pay their notaa in^luA aaaaon, when an arrange* 
 IMiH waa made aacuring their debti by mortgage paying L 1S5 qtllr. 
 JaHy with tiilereat. with a clauie to pfty the aame in Kingatno lliila. 
 fje »onda mak* no mention whether the Billt ortj to be taken at the 
 
 IS:!1?!1 ***• Vnn**** ^^ ^7 '^•~ »«"'"«• At the time of 
 thliftrrwigeiBent the Billa were at Lm per cent, diacount, and it had 
 
 rJlSj^iS; "?'•■■• *?••**••«?'"«' ••?«• P«>plft conaidw^d the yeera 
 
 « would |teke to pay thoae debta, and it waa r«portad other dirMlera 
 
 hftd eeually favorable chancea to payj«heir debta, togethftr with the 
 
 Mmph^ laaued b>the partiea crimiifting each other with mal.prao- 
 
 S!!!.ir' " waa impoaaible to diaeov^ the aituation of the inatitutioQ 
 
 fto«4he contradictory atatementa of the dir^ The 
 
 fiMihoUera were bewildered, and jdned in with a party aa cheace 
 
 WMed thenu The buaineaa waa pla^ in the handa of Mr. Robert 
 
 Mftnloo, aa Agent, and then is no doubt but the Billa wouM h#ve baea 
 
 ftdeemed at par, and the Stockholder paid their amount ef Stock. 
 
 ^St^U^J^, iotcrferrd by wiaing an act appointing Meaara. 
 
 i^ffil. •'*'^°*''^°'*" Kirby,and John Matiattlay.Commliaionera. 
 
 fbe Wlowidg li a preamble to the act paaaad March 19, 1888« 
 
 .•irii'SJlJ*'^. ^ ••«<'^*«oclatiot> have atopped Myment and de. 
 ^red itaeif lOMlvent^ whereby f araat portion of the inhabitanlii of 
 ^province, holding their aaid billa or notet, and who hftve taken - 
 •took inihe mm bank, aa irell aa othera, have been defrauded of the 
 
 1^!!!!,lL^TMi i^}y ^h ^'^^^^^ '•^'^^ unhwaiome legialative 
 MMdy ahoold be t>n>vided lor their relief." * 
 
 yhe loaa to the Bill and eertain Stockholden, waa cauaed hy thft 
 
 ^>tlowiiig acta of commiaaionefi^MarkUnrf, if.VKy .^H MfifgilftT 
 
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 UklMlMf dilUiilt to 
 itv«nil UioumimI pmi 
 
 MiNf 1iiilll«ll1lMa<rt for 
 MtfMMiAiifiM rar n 
 
 ComintMtimtft ftdlj^i ki mtkw mhIh 
 §bt ikmmmmmkmmp ^\mpi tof«i Uniin •it4t. wipi Mftilih 
 
 to (brm «n wlitbliikinMittI Mul M|»I II 
 •loft • frlBft wiilMut ^yi^ifOmm^ ««ul<i bo «btiitod to «Iaiimi|pi» 
 firooillio owiioro of tlio nwfilf. It ii ft imp fooMn io iIm iMyMiiOf 
 imoUooi, wyoh roquifM • fiM of bcMi to ialroiluoo, ftpotiiiltjr mm 
 m HMO Uko DaHoo, who ImkI lickurwl it woiMd ruio liifii u ho vwMMi 
 oM^vod li^A. ond hii uiiiotiii bo Morifiotd If.toid for omIm and Jfol 
 Ihit laiui bod tho tudooi^f ^.my tho looooy M dooo hiomofoed, 
 •od ho m porfeoiljr kmmm ^ ^^lo pajnMnt upon iho pitoeiplo 
 ihot hte bood «■• lorMiod bfilho 40« of tM OpaHBi^^ 
 
 DoUon'i oooouat corrt nt ipl bo a pwfdbiio hiol fur «borpori ol ft 
 futuro poriod. lib nomo if down •• thft owMr of 94 thoiof of Ihft^ 
 4|^q|i, and L7Sa uoid io, wlktv ho olftloit ol pv ffom »• to ti i tiithM fc 
 ^ ivhieh ho Hmwoir Mtt a valuo of Iho ohUiftft of iloorodiloip^ifto 
 loftt|l or 6d. for a doUor, bul which ho vftiito to pay hhi dobi witb •% 
 4vo ibiiUAgt injho dollar. %im plaift lernw ho wtntf lopfti* hi Wft 
 ««ra to* lof &<k.N)iat bo oil 0M (or 64. iod by that foooM dt&iiid 
 ■MOjrJipfttit moB oil of niiit tootha of tboir pfop^rty* to hraofit ail- 
 Ith totftt who by thoir mif-otoaagoiiMiat dofoofad tbo iaatiliilioi. 
 Jbiltoa ftod othtrt by wa|^ fXciMo 9iy, ibo orftdHoni of (ho BmIc 
 
 ghl uptbobitloatftdiiooiiikl.. tm% 
 
 T1091 poor poopb and oxpootod to got 
 
 John Vgumr bought ibom iip» mA km^ 
 
 Dalion and othoii fay, th#fMir<iAH||ift 
 
 tha dollar. Howdtii^lii J^dga I «n#fi 
 
 ooryflofttoboldo^ lo:alariuiiwM»»t bavtoftid, **U»oy wofthi only 
 
 KwHh thooa at that priooi^oMopi to pay lor tbo tr«iiap|»ilftlilMi« of 
 ■•dalbwotboratoftodllifiotooloiqr/^--«That iNnr fimld wUbo 
 90 ftftpti •• to pifteo hia peraofi >» tbo pootlion of •■ omgy 9<if|)tndod 
 from tbft Book io Store St|wt, with a barrol of Boer oitb a laboU 
 ^ Dbltoii^a Bntiro Butt Baei 
 
 ftr^ obkly apociilatori. ai 
 
 I ^ 4|0ftr#ai^ lor about L 9 
 lor bilik Mf worlh only 6d. 
 
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