Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1859-09-23
Defalcatlon in the Fulton Bank, New Yorl

Defalcatlon in the Fulton Bank, New York
serious defalcation was made public
this morning. under the most painful circum
stances. William j. Lane, jr., son of the
venerable and much respected Cashier of
the Fulton Bank, and acting a an assistant
clerk to his father, has perpetrated series
OF frauds by which he has obtained money
amounting in the aggregate to sec, 442. 10
This was effected by pretending to be agent
for a \. Il. Dean Il Co.. of New Jersey. and
collecting in his fathers name bills receiya-
bic in Boston, Philadelphia and Baltimore,
which are supposed to be all fictitious.
These bills he would enter on the books
of the bank to the credit of the father, and
when they were supposed TO be realized. re-
ceive his check on the Fulton Bank for the
proceeds. In order that there should be no
discrepancy in the accounts with the CORES
ponding banks, young Lane would leave for
Il few days actual bills receivable unchanged
sufficient to cover the deficiency which
would otherwise he shown, and it is sup
posed that when the general book keeper of
the Fulton Bank made out his accounts cur
rent to be forwarded to correspondents.
Lane would make q fictitious one and for
ward it in its place, his position in the bank
atfording him facilities for the purpose.
The fraud was discovered on Monday
evening. since when Lane has been constant
ly under surveillance. He was arrested
this morning under . warrant granted by
Justice Osborne. before whom he has been
taken for examination.
Nj. Lane is a married man, aged about
thirty, and without children. lie resided
with his father, and though it was suggested
that he was spending more money than his
salary as clerk would warrant, it was ac-
counted for by his friends on his explanation
that he was receiving compensation for the
employment of his leisure hours as book
keeper, and rs agent for the firm for whom
he pretended to act in New Jersey. The
money obtained, with the exception Of about
twelve thousand dollars, which he has re-
funded, it is supposed has been spent in the
purchase of lottery tickets, gambling, &c,
and rs is common in such eases, {; woman's
name is mentioned in connection, with
whom, however, the delinquent denies any
improper acquaintance.
The fraud has been committed in such
manner that the father of the criminal will
be the greatest loser by it, He is bondSman
for his son, to the ampnnt of ten thousand
dollars, and the bank holds his checks for
the amounts drawn from it, upon the ticti-
tious securities. From all parties We hear
expression of the utmost sympathy for him,
the great sufferer, not only in his domestic
relations, but also in his pecuniary. He is
now IN old man, seventy years of aye, thirty
Of which he has been in connection with the
bank; of unblcmished reputation and remar-
kablc for the vigiant care with which he al
ways guarded the interests Of the institution
with which he was connected.
The bank as will be noticed by what We
have written, will be loser only ON the
contingency that the means of Mr.. Lane Sc
NOR are not adequate to make good what has
been distracted. Even were it to lose the
whole it would only slightly affect its con
dition, rs with its capitalo of only six hundred
thousand dollars, its surplus on hand this day
amounts to S219, G7l lS.-N. \. COmm.