The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1859-09-30
Another Interesting Young Man Collapsed


SIXTY THOUSAND DOLLARS NEUTRALITY-SUSPICIOUS..
CENT DISCLOSURE-A GLIMPSE INTO FAST LIFE
AT THE METROPOLIS.
Mr.. William j. Lane, Jr., transfer and
foreign-note clerk of the Fulton Bank, New
York city, has suddenly been transplanted
from gorgeous establishment in West Nine
teen:h street to the police court, on charge
of embezzlement, preferred by Mr.. Kernoch-
an, the President of the bank. This young
man (the accused) is % years of age, and
has held his clerkship in the bank for the
past four years, at an annual salary of 5000.
He is married, but childless. The deficit, the
bank officers assert, amounts to $60,442.l3.
Lanes mode Of OPERATION is said to have
been very ingenious. Pretending to be the
agent of A. B. Dean & Go. of New Jersey,
he would collect in his fathers name bills
receivable in Boston, Philadelphia, and Bal
timore, which are supposed to have been all
fictitious. Entering these to the credit of his
father upon the books of the bank, when the
bills were supposed to be realized he would
receive his fathers check on the Fulton Bank
for the proceeds That no discrepancy in the
accounts with corresponding banks should
appear, Lane would leave unchanged for a
few days actual bills receivable sufficient to
cover the deficiency which would otherwise
be shown. 1t is supposed, also, that when
the general bookkeeper of the institution
made out his accountcurrent to be sent to
each of the banks correspondents, Lane
would make fictitious one and forward it in
its place--his position in the bank affording
him facilities for so doing.
The fraud was detected by Mr.. Lane, Sr.,
the father of the prisoner and cashier of
the bank. Mr.. Lane, ST., has been con.
nected with the institution almost from its
organization, is we'll known and much re-
spected, and upon him falls with full force
the effect of the delinqaent's conduct. 1t is
stated that about two months ago, young
Lane was met on Bloomingdale road driving
very fast team by one of the Bank d.rec-
tors, who took occasion to remark that the
young man was spending more money thar
his salary would warrant His friends,
however, explained 1t satisfactorily. Imme-
diately upon suspicion being aroused, the
matter was placed in the hands of detect
I've to /" work up," and the consequence was
a revelation of the whole transaction.
After his arrest on Tuesday last, he ac-
companied the officers to house which he
had hired at No. 28O West Nineteenth
street, at an annual rent of $1,000. Here
they were introduced to young woman
about nineteen years of age, with whom the
prisoner stated he mad been living on terms
of most familiar intimacy. This establish
ment, which was magnificently furnished,
had cost him vast sum, ard his yearly
expenditure for its support had amounted to
$4,000. The officers recovered from the
young lady jewels valued at six thousand
dollars, one diamond cross which had cost
81 900; gold bracelets, worth $475; five
diamond rings, diamond earrings, and
gold watch set with diamonds. At his
private stables on Lexington Avenue, were
four valuable horses, worth $4,000, and
splendid variety of equipage, double and
single carriages, cutters, and expensive har-
ness.
This young gentleman had dabbled con-
siderably in lottery tickets. He told the
officers that he had invested in one day,
81 900, and upon other occasions, for two
weeks every day he had bought tickets to
the amount of $3.50. He drew prize of
$4,000, and that was all the return the spec
ulation had made him.
He is now confined in the " Toombs,"
awaiting an examination on the charge,-a
painful example of the consequences of that
maddening desire for display which pervades
so many of the wouldbe fast young men of
Gotham.