The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-07-27


months, we believe, have not had one defalcs-
ton TO record-not of bank plundpring,
or any respectable seizure OF the assets Of any
bank by any of It's officers. We had begun 10 sup
pose that The world was getting holy and honest
although we could not think il getting much
more peaceful and orderly than formerly, for lie
murders in illinois, and the conf .grations and
bloodshed in Philadelphia, reminded US too for,i
bly, OF the wicke dness of the age to suffer us Ia
think that the millennium had really dawned upon
US But after all, we find that the business OF de-
faIcation, as it is piousy called is not yet ended
The very latest case has occurred at Stamford
Connecticut, and we find it thus recorded in a
paper Of that city,
The stamford Bank was chartered in the year 1884
Mr.. Hill became cashier in 1889 1 he original cap
tai OF the bank prescribed by the charter 500 900
but 500 00o however, has been pad in During the grea,
commercial revus0ns OF 1867 the hank lost
able by the failure OF its Debtors and in the year
1913 the capital OF the hank reduced to $50 600 The
Bonds to the amount Of $40 OO0 which were taken lin
settlement OF claim due the bank These Bonds the
time Of the reduction Of the capital were considered
be worth but So 600 they worth about $40 600
The increase in the make value Of these Bonds 10
g-ther with the collection OF claims to a considerable
that had look I'd upon as doubtful il WIS ann
posed left the bank large surplus On the
OF the condition Of the bank previous to the election
Directors last spring, certain Irregularities discover
ed in the manner in which Mr. Hill had discharged hi
duties as cashier II ascertained that he had dis
counted notes which had been rejected BY the Board
Directors II discovered that about $70O Of the bill.
OF the hank had been issued and entry Of them made
upon the books Of the bank. For these and other
causes Mr.. Hi twas given to understand that be must
leave the bank. Mr. 5aeree the present cashier
ed upon his duties the ls Of June last IL seon
discovered that Mr.. Hill was defauer, and tha'
false entries had been made upon the books Falls.
ch ,rges made of moneys sent to the Suf,lk
Bank. Boston, Mt three several tiues, amounting in
all to IS 500 Mr HUI being Intercepted admitted
fall hutg
for doing was TO cover up his d. fciency, Thr
gwen by Mr. Hill undoubtedly the true one
There further discovered deficiency his accout
OF notes discounted amounting To about So 400 Tho
whole amount Tor which il 10 ,scerained that Mr. Hill
d-fsuter to the bank, will fall but little il any short
$40 400 The bank supposed to be fully The
bonds given by Mr. HILL with securities, amount 10
$40 0OO $22 900 OF which confidently believed he
svoi and bank holds collateral securities to conrid
cradle amount So 900 Of which IL considered coectabe
ond peraiveninre The fiat false entry against tho
suf,,k Bank Mr. Hill stated was entered nv hin in Ma,
Is4s Mr. Hill, before the exposition OF these transac
tons stood high the estimation OF this community
his supposed integrity and moral worth II was GENERALLY
believed that he was living beyond his bn there
was general impression that be received assistance
his wealthy connections II can hardly he possible how
ever. hat he has expended for his family support III,
amount Of $40 90 In addition TO his salary in the shor
spac. Of Eight years. durng considerable portion
which time he has been single man
Mr. Il has tnrnei to the bank. notes for the paw
ment OF Of 81 O0 received by him for money b
longing to the hank loaned by him without authority
the Boa to various individuals and not entered by hin
on the hooks very gener.l impression prevails the
he has helped Of other friends in the wa,
which, however. MIR. Hill denies.
This is but small affair only 800, 900. Mr.
Hill who is implicated, must be rather SINAI
dealer in financial affairs TO content himself witt
such petty depreciation However, il may b,
that $4,000 Is quite respectable amount of plum
der IN Connecticut, when considered relatively I,
is population, industry, virtue, and number o
churches in that region for there must always b,
due proportion between the different elements o
sociery,ln order TO make up happy and contentet
community, and to bring out all lis virtues an,
some Of the gentle vices with the greatest seiat.
In this city we have not had defalcation e.
several weeks-not even a rumor of one, and W,
begin TO despair Of hearing Of one. And yet W,
need not despair. For il The banks have the hand
ling Of four or five millions Of government fund
his year, and ten fifteen millions next year, WI
will have plenty Of the old business going on 81
we have very fair prospect ahead, after all.