The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-05-08

Ensland.
IRON the London Post, April Is
Since the OF business to-day the directors " the
Union bank Of London have prepared report for their
rropr,ors relative TO the frauas committed upon the
70 no less sum hau fass COO ard appear 70 have been e.
icted BY forged pass book be keeping for Bank
o, trssnd another Tor the ledger clerk Of the Uaoa
bank Hos the sy stem should have beea allowed 20
for period Of something Ike ave years
what exiraordnsry and hoe far the plea Of coadaence
their servants ell be considered sufficient py
the shareholders, remains 10 be Certainty the
frsuds which have come 10 lghi Afford strong pro
samv,ivs svtaence N favor Of nor efficient gu.
Join, banks In greater detail TO The propre,ors
csD ureed, eu, r~rtnacousy oseced 10 BY direcsors
tsnslog show too much of their busntss their
present or prospective competitors Certainly. hue
sxua their pubhshed would have prevented
the mischief this nssancethe frauds being at the
Of something hike 81 go ~ees'or merely the words
"Bssnce Of the Bsnk q Ergland, ESQ., oo Whatever
the smoun might be- would have been sure TO excite the
attention ofcias o. that estabshrnen The
standing there and plantations would have
been sought which could fail lead 10 the dis
coysry thai frauds were 10 progress will be that,
oxrds recouppx the loss, The propos3 re
transfer kl2o,coo, which In July lat transferred
from the TO The capital account, and Which, with
the aefAcaops, leaving balance Of sac 600 10 be
provided, which, hoped, viii be obs.incd from the
p'oss We current ses Az whist s,yiaena o. per
January last, 12 cent fo the year, wills, the csp
TAI remain. perfectly intact The following the direc
Il Is with deep resrc, TIA, the directors have TO
comnuncase "a the proprtors that they have
very large fraud comnei by their late chief cashier,
william George puhnger, and. with as little delay pos
SHE bey lay before the proprietors statement OF The
facts and submit the which. upou q careful
sdersu5n OF the circumstances. they recommend for
neetans tho Ices whi,h has been sustained.
William George Puinger vas spposntsd cashier Of
tina bsrk April lsse, having previously held similar
spd after yesrs o, eccnt xealous. and,
n eth behaved, fAthful service Subordinate ospac
es vas about ave ysns ago raised 70 the sitnsion o.
and aurh lhn A IN
by TIE directors and manager and tnef satisfaction 9TH
the in which be discharged hts duties thai abort
trss months since shey voluntarily rated his salary 70
COCO per srnum.
HE duties a. chief cashier ~sre N supern,snd the other
cashiers 10 procure checU for money. keep their ILLS
supplied, and devcved upon him psy all CHEEKS god
and sver CON bank notes &c which nos required
for the purpose Of TINS bank the Bank Of England
.ecsmps,iea by docket Specifying The p.r,ics,srs Q,
rsAnd which wa necessarily IN his Official charge, and
Account Of these payments also furnishes BY Pull
hnger 70 the PRINCIPAL ledger In the ordinary
course Of business Punser asy sent junicr clerk
the book ~hich contained the acknowledgement ny
tpe BANK o. EDssnd q the Gosh paid IN ana = vas the
duty u PupRer 10 deliver the Pass book the ledger
keeger wbc-e DUTY would then become 70 check the
entries IN asairpi the Bank England By the items
his logger The ledger keeper nndinr his account
tally -rh the psss book would repor, the Bank Of Enr
spd balance 10 the scccunsut q, be posted IN the gene
raj ledger when sny error n the Bank Of England balance
would disturb The senera balance Of the dsy and become
on Thurpd.y sst the lpth ins IN consequences " come
arp1csfnn vas made 70 the Bank o. England
for Their statement Of tbe balance % hank, rhen
deacis 81 no lees than f2305O So lod was discovered
punrser who absent nj TIE time attending the func
raj Of relative, vas Immediately followed BY director
snd the manager and brought back whep he 1t once
confessed that from lc~ses the stock Exchange he
rad from " time sincs his s,polntm~ns Of chief
cashier absfrsced large sums from the charges taken
over 20 the Bank Of Eaxisna, which he bad concealed
from ledger keeper BY exhibiting 10 hin faericated
pss~bccr, which toe balance agreed with whNi' sp-
T~srsd 10 the scccunfsn's general ledger He vs shss
rirrn INTO cus>cdy.
u may appear proper 70 state here that the suppcsei
BALANCE "a me RAns Of fnE snd fs6o,To5 iee. "a
while the c~rthed haspce wa f9ce 63e "a al, exhibit
lre ire de6clf ~ f2sS .o7o "a iod. .fM
me dr~cfcrs Proposed 10 state the they re
commend fsr meehre this ioss and thar feel assured
tnai The prDprstcrg wi With them IN opinion that
u should b. sere promptly snd eaectuaiy.
In Iuiy 40, the Of 1ico0oo lrrnsferrcd IRON
We reserve fund 70 the c,a account nov proposed