The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-02
WALL STREET IN A FERMEHT.
Tho Uefalcation in the Mechanics Bank
ing Association.
SUSPENSION OF THAT INSTITUTION,
MORE FAILUR S.
The Case Of ThOmpsOn, the Wall
Street Banker.
>c~er~o~~or~~No~oD~-or~~
AFFAIRs EI.eHwHERH
kc, &C., 10.
THE EHBEZZLEMENr IN THE MECH ANICB
BANKING ASSOCIATION.
AYYKARANC1 OF THE rRisoNEz--rHs sxNsAF10N n
WALL DTRnHT.

bANklNG AESOClAIkON.
AYYKARANCu OF THE rRieONER-TH1 1KN6ATION IN
WALL sTR1nT.
Wan street presented eserday scens Of moro excite
ne fever and pAuc than any day since the present
haAnciA crisis has aoacd that locality. Tho suspcnson
q ne hechanica Banking Association, and tho house of
nessee o., spece brokers' tho upon shc Han rver
MAX sne Metropolitan and the Bank Of Commerce, and
he nure OF several business houses. all reported yester
yae parhoulars Of which will be found In our mosey
contributed 10 sweD the tide Of the anxious and
alarmed crowd which throughout The whole day made Wall
ssssa he theatre oS unusual drama.
Huk she centre OF the excitement tho o1oe Of the
NeohAnios' BANKING Association. The announcement In
~ HzaAIp yesterday morning that OF Tho clerks
Aad bean deseossd In enbezxng 70 the amount OF some
seventy thousand dollars, created deep sen
snEos throughout the city; and when II was
snnOnoed that the bank had suspended busness in con
sequence or tho deAloauon crowds began 10 assemble in
Ssos Of he building In Wall street, and continued TO swe
duing she cay. me nside Of tho building crowded.
snd stream Of people continued 70 dow In and out with
oua cessation.
WIN rsx0d V the alleged emoezzlemen appears tha.
Soma suspicion bad been entertained for long time hat
something was going wrong in The bank, from the fsc
sAaa large deaoit In the speoe had been nom ane 70
np.s observed.
Huupsssn rested upon Nr. Edwin Van Harcom, the pay
ng teller gentleman who had for long Time occupied
Aas position Of rus. On Monday evening request was
sent nom The bank To Deputy superintendent Carpenter
10 detail couple Of officers gvr special duty; and accord
ngy, he Deputy accompanied by officers Elder sad No
Uprd haatsaed Wall street, where they found the cashier
- NE heohAnios' BAnking Association and the telor
Nv. Van Raroom, engaged In overhauliug the booxs-
yAey rsmasaed outside until about II P H., whea hey
were summoned, and ". Van Blarcom was given into
Ask charge Thsy q ouoe removed him and kept him
capse custody Tor The night
Yesterday the prisoner was taken down 10 the bank In
cAasys d Ne onoe await he desision OF The Bard Of
BrecOr vhiah held long session for The purpose OF In
vessgarhs Ne anAir, and discovering, II pssib~, Tho
aDouss Of The dsfaiosou and NE best Of dealing
WITH Ne pvissaW.
During their sessi,n NJ Van Hsrcom saa IN The passage
eadng from NE bank 70 The drsooss room, and sae
sec Of Imauis scrutiny BY hs crowd which nlied tue
As bank. He y IN elderly man-probaby about forty
sGt, or nfU yeayS. Of age. He 10 small In sssare,
sight, dark oompiexionsd and slightly gray; wears
syscaAclss, and Ii very hard Of hearing He
seemed rests and embarrassed during the two Or hree
Aosrs hs socuped hs unpleasant posou exposed The
psbno saze He rarely nned hs eyes from the ground
erpsyA whom Of ths directors cAme out and entered
h1A oouversanon with him, with . view 70 obtain
spme Information ~ 70 he amount Of the dcsAlca
-. o. We mode In which Wa accomplished d well
nSwu hat all such lhe directors OF the bank
found prcurdiy Ignorant Of the dongs Of their
picyts and when defAcasca they depend tent
sa comrunicaoas OF The defsulter not oay for the
coe she myssu Of The wrong DOING but for the amour
a which hey have been defrsuded.
we learn that the Board OF Directors separated yester
Day without taking any steps 70 prosecute the delinquent
N, charge has been made sgalns, him. though under
sAnd there doubt lhAt seventy eighty thou
sand dollars unnocountcd for.
m. Van Blarcom . OF family residing, In
Bcocker snrel Hs habits have been remarkably
svaSAn,; and The opinion prevail that he has
sson victim Of stock lobbcrs and spcculAtors, who
have obtained coavenicnoos from him. out Of which no
AAa probably received little or no benefit
mo Mechanics, Banking Association refused 70 redeem
~ notes for Tho present; It's bills, however, wcre
aochs yesterday fell considerably, and Tho money mar
ret, Q msttsr Of couse, w0 very sxinsent The
panic exiended 70 oAhcw banking nsututous besides the
keohancs' Association, though Tho manifestations in
lAef nsishborhcod not apparent No cxrsordi.
cary excitement observable about the Metropolitan
Hanover banks; but . considerable crowd
sses curing portion Of he day roand the Rank OF oom
The sboe and Leather Bank refused 70 psy check Of
Comptroller srx oounserrsDed By soe Mayor and Clark
sr Nc Common Council, for sbs So the Teller saied
n.Aa sbey had no money.
On The whole, an III suppressed Anxioy and rcsticr
dapAy ed 10 The neighborhood OF wan street,
which indicated very unsettled condition Of financial
sGAns In the city.