The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-08
DEFAULTING BANK OFFICERS.


new uays before the general suspension Of the New
York banks the Grocors Bank was announced a. sus-
Penoea ana Receiver was accordingly appointed 10 taka
charge Of lis affairs. When the general s,speosion ,oo
place by some means the Grocers, Bank was among
others, permitted TO resume its operations at the Clearing
House and continued TO meet it, payments for several
days This, however, did continue long and "a was
believed at the time the hard times had broken up tn,
business OF the bank the Receiver his duties
whether as the the consequence Of the appoint
ment OF the Receiver since he has entered upon hi
duties the fact has disclosed that Mr. Geo A. Clark
the assistant Cashier and Paying Teller deaater 10
the amount Of about sos 900 the suspeu-
son the Directors suspected from the state of affairs that
there other besides the hard times, but
had positive clue At the stated monthly examination
the balance sheet Of the assistant Cashier has been 70
peaedy made to correspond with the deposit account
the entries being properly footed up BY means of false
entries and certified checks IL appears that Mr..
Clark has made his balances correspond with tho
general balance sheet at the beginning every month";
his entire charge Of the books in his afford
ing him every facility. Az present he appears have
been carrying on his operations but for htccn months,
though u u possible he might have been pursuing tho
same plan since his first connection with the bank 1851
more than six years since About days since, Mr..
Clark obtained leave OF absence the country on tho
plea OF needing rest from the exciting labor Of the past
dealcaon made known. II is said that he has gone
TO New Jersey, and that the officers OF the law have
to his whereabouts The papers have already been
placed in the hands OF the District Attorney his
Mr. Clark is the son Of TX Mayor Aaron Clark, and a
yonng man-notover37 years Of age. He formerly
clerk IN the North River Bank and left there the
nation OF the GTocers Bank, being offered a
more remunerative position He always
sdered an exceedingly smart energetic business man,
and his accounts have always before found correct
He left note 70 the Directors stating that he had been
deceived by friend and rs about $50 900 worth
oi notes and checks OF personal friend Of his which
proved to be worthless, were also left If the latter
statement Is true, il may account in measure for tho
disposition Of the money H not supposed that he has
large amount with him. The of property standing
in his name is not ascertaned though doubtless
not enough 10 save the bank from loss His bondsmen
are suretes for 10000 which is considered good
M Clark had rather snowy wife and three four
chdren ana mas Within year moved from small house
in Pacific street Brooklyn, a large and splendid brown
stone house, which he has built Clinton street near
Pacific His living considered rather fast and many
ofhs acquaintance wondered how he could live
ganty on salary not varying far on 81 900 per aar
Yet his expenses have been estimated az AZ e slo ooo
per annum He had fine stable and fast hor ,.s and
was seen often ON the road, sometimes betting Hs
was furnished in fine style including expensive billiard
table. Himself and family always dressed we'll and
spent considerable money This was explained BY a cur
rent rumor that his father who il rcnted 10 be wealthy
had loaned him money He deeply in debt 20
far be ascertaned one Of his creditors said ho
esteemed him his safest customer, and he had generally
the reputation Of being prompt paymaster The report
that he deeply debt Mr. turney is untrue as ho
only owed him few hundred dollars. The defalcaton
must hasten tho closing up Of the business of the bank
Two Hundred Thousand Dollar DcfaIcatioa
In Philadelphia.
ATTACHMENT OF THE PROPERTY OF Mr. ALLrBONE,
orR PHILADELPHIA coRREsPoSDEscE.
PmIADEIITnA Nov. 7, 1857
Although the desperate condition Of the Bank Of Penn
syvana has been of public notoriety for some
weeks past the community not quite prepared for the
Developments Of today This morning the Court OF
Common Pleas, attachment asked for against tho
property OF certain well known brokers this city who
it alleged have been concerned with Mr.. Abone tho
late President Of the Bank Of Pennsy in using
fund of trala dnvu
correct abstract Of the AFFIDAVIT upon which tn
IL issued
william Gesse, Thos. N. Newha William p New,in,
Arthur H. Howell, Lawrence Lewis, Franklin Fell, John
- Taylor, Moncurc Robinson, VIM. Lyttleton Savage,
VIM Z. Patterson being severaiiy affirmed de-
and say they are officers, VIZ directors Of the
Ioraton styled the President Directors and Company
the Bank Of Pennsylvania which corporation was duly
created by and now exists under the laws Of the of
Pennsy ivania, and for and on behalf of said Company
they further say dcposc that as they have lately
ascerained Thomas Albone (atc the President SAID
bank X justly indebted 10 the President and Directors
said bank IN the Of two hundred thousand dollars and
upwards, for money belonging TO the said corporation
which money the said Thomas Abone had and received
TO bis use, and which he has returned repaid
10 them
The affidavit then states that about the 10th Of October
lsdt he abseonded from hs usual place OF abode for
foreign country with design defraud his creditors az
they believe and that he left in this county or
state money to pay said debts.
The AFFIDAVIT upon which the application for the attach
meut was based signed by the President OF tho
bank, Col VIM Patterson and by the majority Of Di-
rcctors Some Of the latter have been charged hitherto
with being the special pets and accompces Of Mr. Ali.
bone. Rumor says that some Of them have grown rich
upon the spoils OF the bank obtained through agency
of the late President. The affidavit certainly does not
mince matters but IL plainly charges Mr. Aibone with
absc0ndng foreign country with 600 tho
funds which the deponents believed he Intended defraud
ing the Institution of.
Some of the sgners Of the affidavit are relatives Of tho
late President, and their exces little asons-
ment in the business community especially when the fact
oft u Mr.
into consideration. When Mr. A. about setting out for
Europe IN most proiigous hurry, the following CORES
pondencc took place between him and the Board VI Direc
tors OF the bank
"Pm,pnr1ua, Oct. ~, 1851.
"To Board DREcruRs BASs ~ PgyvsYIvASra
"GEsrs.-My health continues inirm that find Il To
be impossible ior to perform the duties OF President of
your bank Ny physician has urgently pressed
the necessity Of resignng, and to endoavor by travel
and absence from excitement to restore my shattered
health.
"My larse interest in the hank as stockholder would
induce me TO remain and work with you my state
ncessan tabor and the excitement Of the past months
have pros,ra,ed me- that constrained 70 leave
you. For all Of you entertain the most aicctonae
gard.
You will please receive this my resignation Presi-
den, Of the eans-fours, very truly w., ,,,,novr,
whereas Thos. Alhbone Esq having been compelled
by serious illness under the advice of his physician 10
tender his resignation ~ President Of this bank,
"Rcsolved, The Board Of Directors, accepting tho
resignation express their feeling OF deep regret at parting
with Mr. Allbonc and sympathse with him that the
cessity exist; and trust that kind Providence may
speedily restore him 10 his health 10 the enjoy
ment of a long life of happiness and usefulness
Extract from the minutes.
"octobcr II, 1857 mo. y. TAYLOR, acc'yn
Three weeks only have passed away since the sbovs
correspondence took place. but that short period
has been amply sufficient " bring about a wonderful
change of sentiment II s shrswdly suspected that IL
some the directors had to do again they would
their resolutions Of sympathy unwrtten especially
has been pretty clearly settled that Mr. AIboucs
sickness all sham. strongly suspect that the de-.
,ied action o. to day has been nsigated by Col Paes.
son the new President Of the bank Col r. thorough
going business man, who trifes over what hs
undertakes probable, too that carefully concealed
Application Tor an injunction against the Board Direct
tors may have had something to do with deaoas,a.
The effect OF this supposed injunction II urged would bs
10 hold the directors liable for losses sustained by ths
stockholders through any improper OF The funds Of
tie bank This injunction has not yet been regularly
hled and great care has been taken 70 keep oin tho
knowledge of the pubiir Tho stock of the bank