The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-09-22

ARREST OF Mr.. LANE, ASSISTANT CASHIER.
Recovery Of 32o,o 900 in Horses,
Jewelry, &c.
THE M0DUS OPERANDl OF TIVE DEFAULT TER.
DC, &c, DC.

Another of those startling bank defalcations which form
part Of the history Of modern society made public
yesterday morning. and created quite sensation in
mercia circles well as among the celebrities of the
beau monde to which, appears the defaucr in the pre-
sent instance is well known, having within the last few
years cut quite dash in the most recherche society Of
Fifth avenue, and rvacd the most extravagant in the
spendor Of his carriages and the quality and speed Of his
richly caparsoned horses. Mr. William J. Lane, Jr., is
the of the person who has created this excitement
and the Fulton Bank the institution which has suffered
by his operations, admittedly TO the amount Of some
SCI O00 but supposed in reality TO be double that sum-
it is expected will DO proven tho criminal nvestga
ton, which will take place in the Of few days.
The accused is young Of fine appearance twenty
eight years of age and of the venerable and much
respected gentleman who for than quarter Of
century has been cashier of the Fulton Bank, who is
said overwhelmed with grief and shame at the disco
very Of his sons actions.
The story OF the young mans conduct has been told
over land over again in the case OF former individuals
whose deeds for years hidden in the profoundest mys
terry, finally bazoncd before the world in the
papers and formed the groundwork of innumerabe ser
The leading facts relative this mbezzlement SO
far reporter enabled collect them, are as
follows:-
William J. Lane, Jr. the accused has been employed
transfer and foreign note clerk in the Fulton Bank
the last four years. at yearly salary OF thousand
dollars. At the time he first assumed the important
duties incident TO this poson and in fact for the two
first years Of his service, all WE'LL and Lane was
looked upon OF the most faithful and efficient
clerks in the establishment but from that date to tho
time of his arrest he appears have changed an
fortunate hour he made, is said the acquaintance of
lovely young girl Of eighteen years, living in West Nine
tccnth street, with whom, is alleged he Immediately
became desperately cnamorcd, though himself a
man, and having for wife woman Of great beauty
and accomplishments. From that fatal moment it is
charged that his of dishonesty begins supposed
to begin though is said 10 be quite possible that frauds
may have dated from the first year of his clerkshp To
appear to advantage before the object of his alice
tons he must have ready cash at his disposal than
the paltry stipend allowed by his employers and so is
supposed unlawful looked for His position
clerk under his father afforded him ample facility for
the indulgence of his guilty extravaganza, and the
first faur pas it is suspected made, and small
distracted from the Golfers of the bank with
which he was enabled to purchase for his mistress
handsome present a slight token Of his affection The
old story said to folowthe ice broken the first
evil act successfully achieved, there hestancy
in repeating and tile blind victim hurries his DOOM
The moias operdnd which Lane IS charged with adopt
ing said THISTLE is charged with repre-
sonting his father that he the agent of A. Dean
Co.. of New Jersey, and pretended to collect bills
cevabc in Boston, Philadelphia and Baltimore These
bills is supposed he would enter the books OF the
bank to the credit of his father and when they
supposed be realized receive his fathers checks the
Fulton Bank for the proceeds To prevent any
discrepancy from occurring, it is supposed no
made fictitious accounts current with the bank
in neighoorng cities, which, in his capacity rs
Cn~r - ,hot,t,,t
those furnished by the general bookkeeper He would
sometimes leave actual bills receivable unchanged for
few days. sufficient TO cover the deficiency which would
otherwise be shown.
In this waytIane may been enabled to crafty his
extravagant tastes by keeping mistress in MAGNIFICENT
styie and sporting fine horses and equipagcs the
Beginning with small embellishments, he have
gradually become embodened and plunged into frauds by
wholesale. He rented the house No. - West Nineteenth
streetn which Miss his alleged mistress dwell and paid
therefor the round of 900 annually This he
had fitted up in the most gorgeous manner and therein
he kept his fair namorata-t is said with the knowledge
of the mother, who lived with her daughter-appropr
atng some SO ,O0O probably, for the expenses
ransacked it is said, to obtain rare diamonds and
costly jewels for the adjournment of his fair ones
often be seen in company with the partner of his guilt
driving the Boomingdale road and outshinng almost
all in the spendor of his turnout 1t is stated he had
livery establishment in Lexington avenue in which he
kept four splendid eeds which cost upwards Of 5000,
and also several carriages with harness and trimmings
to match To divert suspicion from himself friend pre-
tended to be sole proprietor Of this luxury but Lane is
alleged was the de fdcto, least the partner
Lane also slenced all suspicion, whenever 1t limited
that he spending money than his salary as
clerk would warrant by giving out that he receiving
handsome remuneration for his New Jersey agency and
that he realized considerable by employing his leisure
hours rs q bOokkeeper.
He also it said dabbled in lotteries He admitted to
the officer who arrested him that he expended 81 900
day for lottery tickets and for two whole weeks he al
lowed himself no less $3.50 per diem for the purpose
He says he was an extensive loser having drawn but
prize, which worth So 900. AS illustration
Of his extravaganza is asserted that few weeks he
had $40 900 in cash. but at the time of his
cent Of this remained and he was unable to say how he
had disposed of it.
On last Monday the complaint was nde against Lane
by Mr.. Joseph Kcrnochan, Preside OF the bank, and
officer King, of the Lower Police Court arrested the
cused Immediately after the closing of the bank He
taken before Mr. Kernochan and Boards of Directors
seeing was idle to hide his fraud any longer confessed
his guilt Immediately The officer then went with him to
the home Of his mistress West Nineteenth street. where
600 worth of diamonds and jewelry surrendered
to the officer by the lady the request of her fallen para
mour These ualuabes consisted Of diamond cross
which cost 81 00O pair Of gold bracelets worth $40
each five beautiful diamond rings, two pairs of diamond
earrings gold watch and other articles Of smaller value
On yesterday afternoon the officer visited No. SO Fourth
avenue, and seized trunk belonging to Lane containing
drafts securities and other documents Of the bank The
horses and carriages of the accused also put in the
safe keeping of the authorities and altogether about
$40 worth of the alleged dishonesty earned wealth
has been recovered The prisoner at present occupying
one Of the square apartments at the Tombs. His father 1t
is said, is bondsman for his to the Of $40 OOO
and the bank holds his checks for the amounts drawn
from it upon the fictitious securtis. He, therefore, will
be the greatest loser by his sons operations He is
in the and yellow leafn being seventy years ofage
nearly half Of which he has been cashier of the
bank.
The accused takes his fate quite cooy and does not
seem TO have doubt respecting his acquttal
Court OF General Sessions.