Show new news 0 yesterday fw by E J EDWARDS campus ungratified desire former manager of the new york clearing home had consuming ambition to find one days exchanges exactly balance one of the most famous managers in the history of the world s largest clearing house association that of new york city was the late william A camp he held that position for nearly a quarter of a century and in that time he carried the clearing house through two famous panics those of 1873 and 1893 and several lesser financial disturbances no financial history of the country 0 the period from 1870 to 1894 would be complete without paying considerable attention to the activities of mr camp as manager of the new york clear ing house association and the work of that institution under hla management recently I 1 of the improvised institution of research which mr camp as manager of the clearing house conducted ti test the minds ability to count without external aid mr camp wasa man of delightful whims and this was one of them dut there was yet another whim which had even greater hold of him it became in fact the great colsum ing ambition of his life as manager of the clearing house this institution he said to me one day Is established for the pur pose of making it possible to ex change easily the checks and drafts which the banks that are members of the association have received upon deposit or which are drawn against these banks every bank comes here at a certain hour of the day with checks or drafts which they call items that have been received upon deposit within 24 hours then the clerks go around presenting the drafts to representatives of each bank in that way the exchanges are effected for every bank Is credited with the drafts which it aas present ed for collection and Is charged with the items presented to for callec alon then it there be any balance the bank must pay it in to the clearing house which settles with baca bank with explanation in mind you will understand the nature of the wish which has been with me every day when the clearing house association opens it occurred to me I 1 should think some ten years ago that it would be a wonderful thing if one day s ex changes in the clearing house so ex acely balanced that there would be nothing to pay over see what that would mean it would mean that all of the nates and purchases of corn how george jones absolutely refused to sell the new york times so contemplated exposure could be prevented one hot day in the midsummer ot 1871 george jones at that time proprietor ot the isea york times took hla accustomed seat in a little billiard baloon which occupied a part of the 1 basement of the old times building in printing house square mr jones was very fond of the game of all liars although he did not play tt himself and it was hla habit to spend half hour at noon each day it ho had leisure watching the billiard ex ports on the day in question mr jones was suddenly called from bis place by a messenger who had evidently been bent from his private office on the main floor of the times building in that office he found u lawyer and a man of business both of whom be recognized at once as personal arlenda of william M tweed who was the boss of new york city my father received the two gen clemen very politely said gilbert H jones who inherited the times from bis father lie knew perfectly well what bey had called for lie had only a day or two before gone over with mr lewis J jennings then the managing editor of the times and afterward a member of the english parliament all ot the proof sheets of the first exposure of the tweed ring it was through mr jennings that the I 1 bargain was first made by which the times cam into possession of the incriminating documents copied from the books of the comptroller of new york city connolly who was a mem her of the tweed ring Aft erthe formal greetings were over one of the gentlemen said tt my father that be bad heard that the property was for times newspaper sale father replied that ho had not said to anyone that he was willing or anxious to st the times then the lawyer eald to my father I 1 suppose you would sell the times mr jonee provided you got the right kind of an offer for lt 1 I dont know about that replied my father that might depend upon who wanted to buy it well we are prepared mr danee the lawyer continued to modifies which were represented by these checks and drafts and which havea taken place in any ono da would exactly balance one another just as it you swapped your pocket knifa for somebody alses penholder on an even basis the more I 1 thought of this the more anxious I 1 became that it should happen ai come time during my service as manager of the clearing house that the exchanges would exactly balance so that there would not be a dollar to pay over to any one and at last this became my pet ambition hut though this desire came to me a full decade ago I 1 have never been able to see it gratified there have been a few times when exchanges which aggregated a hundred millions or thereabout there about have been made with a few hundred dollars balance to pay I 1 remember vividly that one day I 1 was overjoyed with the prospect that the exchanges would balance exactly what a triumph that would have been but I 1 was disappointed at the last moment and now every day when I 1 come here I 1 say to myself that I 1 hope this Is to be the day when the exchanges will exactly balance perhaps a year later I 1 met mr camp again and asked him if at any time during the 5 ear the exchanges bad balanced no not yet he said and then he added sadly but I 1 feel sure it will entered law at fifty seven circumstances of the admission of geralt smith to bar of new york state as told by judge darts 1 suppose that no lawyer who has been given a more or less prominent niche in the history of our county was older at the time of his admission to the bar than was geralt smith when that event happened in hla itte the late judge noah dails of the new york bench who gained national prom indence in 1873 when be presided over the trial which resulted in the con of that arch grafter william M tweed on charges p forgery and grand larceny geralt smith the same geralt smith who simultaneously was one of the country s leading abolitionists and largest land owners the friend ot john crown through all bis adventures and yet one of the three men who went on the ball bond of jefferson following his capture and am in fortress monroe after vain offer of boss tweed make you an offer of five million dol lars for the times newspaper and it you would sell the paper but wanted to keep the building then the bar gain could be made with that in view who wants to buy my father asked we represent the parties I 1 don t see what it should make any differ ence to you who they are was the answer we are willing to give a million dollars in cash and the rest in al securities well said my father it makes all the difference in the world who the parties are I 1 might sell the times tor five million dollars to a man who I 1 know would maintain its good reputation but for example I 1 will say to you that I 1 would not sell the times to hoss tweed or any of hla gang if I 1 were to be offered ten times five million why not the lawyer asked because eald my father it I 1 were to take any money from tweed or his ring then I 1 would become a participator in their iniquities and the times would receive its share of their lings and ao I 1 think 1 have said to you gentlemen all that is necessary to eay in order that you may inform those whom you represent that the times newspaper is not for sal to them at any price A day or to later continued tho son the times published its first ex kosure of the tweed ring and from then on until tweed and his gang were driven out of public life and public office my father kept up bis fight against them copyright 1911 by E J all nights reserved happen before my time here ends again some months later I 1 met mr camp and again asked if the ez changes had balanced not yet he replied but I 1 still have hope that I 1 will be able to re port that the exchanges have exactly balanced some time later when I 1 caw mr camp after it became known that he was to retire from the management ol 01 the clearing house association he said to me I 1 have carried this clearing bouse through some severe panics the ag gregath exchanges effected here have been up into the trillions but I 1 have got to go away from here with one deep regret for I 1 never shall see the exchanges at this clearing house ex acely balance and yet it might have been for it was all chance and fate was against me copyright 1911 by E J Ert wards all nights the close of the civil war was fifty seven years ot age when he became a member of the bar of new york state and the circumstances of bis adels slon which he related to me were ex smith went to congress in the mid a new york district about that time a runaway slave known as jerry had made his way across new york detate had been traced to syra cuse and from that city had been able to cross lake ontario into canada bo the united states marshal acting un der the fugitive slave law was not able to lay his hands on jerry and return him to hla owner but he did secure evidence as he thought which justified the arrest and prosecution or several citizens of syracuse charged with aiding and abetting the escape ol 01 a runaway slave one of these men was moses somers at that time the editor of the leading paper of byra cuse the men were accordingly ar rested and taken to albany to be arraigned before the united states district court As soon as geralt smith heard of the arrest of the men his home was at peterboro Peter boro a short distance from syracuse he hurried to albany offer ed himself as their counsel had his otter accepted and appeared in the united states court with the accused men smith let me explain for years had appeared before the state and red eral courts but he bad never been admitted to the bar he had always appeared as next friend a matter us bally very easy of arrangement in the old days but in this particular cise the court which bad long been sus pecked of pro slavery leanings refused point blank to permit mr smith to ap pear as next friend tor the accused men even when mr smith protested vigorously that he had the right so to appear and the cases were adjourned for a day to give jahe prisoners to obtain counsel who cre members ot the bar late in the afternoon of that day judge ira harris of the state supreme court and afterwards united blaies senator the father of the miss harita who sat in the box with president alln coin the night of his assassination in fords theater called mr smith be fore him mr smith said judge harris I 1 have just been told that the united states court this morning refused to receive you as counsel for the men who are accused in the jerry case on the ground that you have not been admitted to the bar now if you will come into my court tomorrow morning 1 will admit you to the bar ex gracca you certainly have every qualification needed and I 1 have the right to admit you so the next day geralt smith who had studied law in his early man hood and bad a wonderful knowledge of it appeared before judge harris was asked a few questions was bd milled to the bar and received from the clerk of the court his certificate then he went to the united stales court room and said to the judge there that he was now a member of the bar of the supreme court of new york state and showed bis certificate he further stated that be was present to appear as counsel for tho men accused in aiding the slave known aa jerry to escape there was nothing tor the court to do but recognize him as counsel and ho managed the case so well that the prosecution of hla clients was eoon abandoned by the federal authorities it was the elret and last case that smith bori as a lawyer copyright 11 b R J edwarda Bd warda al arvid Rr vid |