Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1865-08-15
Tne ThmnIx ll,anlx robbery.

We publishlin our news columns this
morning some of the details Of the defalca-
tion OF the Phoenix Bank, with It's curious
romantic and tragic incidents. A short
time ago the Mercantile Bank Of this city
was defrauded Of about three hundred
thousand dollars by similar .peculations.
In that case the officers Of the bank did not
know that they were being robbed until
the sudden flight of Windsor to Europe
alarmed their suspicious and caused an in
vestigation. Windsor, it will be remember
ed, was arrested in London, and an English
court held that he had been guilty of theft.
A British jury. distinguishes themselves by
passing vote Of censure upon the nlana-l
gers. of the bank. The censure was, OF
course. deserved; but It was characteristic OF
John Bull to find fault with an institution
three thousand miles away, while so many
rotten and mismanaged concerns existed in
London, under bis very nose, unrebuked.,
Scarcely has the excitementaboutt the Mer-
camille Bank died away when the Phoenix
Bank, oneof the oldesTin the city, isfound
I'd be in similar plight. In, this case, as in
the other, the bank officers knew nothing
of the robberies which were being com
mitted. Windsor stole about threehundred
thousand dollars--fifty thousand OF 1t In
gold--from the Mercantile Bank, and Jenk-
ms robbed the Phoenix of two hundred
and seventy-tve thousand dollars, and yet
in neither instance was the loss OF the mon
ey discovered until the criminals had con-
fessed their gnilt--Windsor by running
away and jenkins in conversation with
the cashier. What a commentary is this
upon the present system of bank manage
nIent One would think that its old President
would rise, phGnix- like, from his ashes,after
such astounding revelations, Since the bank
which he so long conducted has since been.
so badly managed, what must be the cOndi-
ton of our other banking institutiens?-
What security do they give depositors and
stockholders that they are not as badly off,
as the two recently exposed? Until they
have made careful examinations of their
accounts and the cash on hand they can
give no such security. The sooner these in
vestigations are made, therefore, the better
it will be for the banks and the public. . III.
/, All those implicated in the defalcations
have, we believe, been arrested; one has
committed suicide, and the Others, as the
evidence seems very clear, will doubtless be
found guilty and. locked up in Sing Sing
But what is to be done with the bank Off
GERS? They are trustees of the money of
many people, and their negligence has GER
tainly been criminal. Bank Presidents and
Directors apparently suppose that they
have nothing to do but to7sit in the bank
parlor and discount notes. The President
receives large salary, but seldom earns it,.
The whole party leave it to the Cashier, the
Teller aud the Clerks, and we observe how
the 'Windsors and the Jenkinses take adj
vantage Of their opportunities. How can
any bank be certain that it is safe before 1t
makes rigid investigation? When two or
three hundred thousand dollars can bestol-
en- from bank without being missed, we
can readily believe that its business must be
very loosely conducted. Thevery men who
are placed in office to see that nothing wrong
occurs, shut their eyes to the details OF the
business, sign any papers which may be
presented TO them. and are perfectly con-
tented so long as they get their dividends.
One-half OF the capital stock of the bank
may be spirited away; but they never miss
it. They are too soft hearted to suspect
anybody and too negligent to add up col
umn of figures. To investigate anything
might wound the feelings of one of the enis
ployes, and so they never do it. To ask to
see the books would break the book-keepers
heart, and so they forbear. 1t is astonish-
ing how tender laZiness makes some people;
but tits reliefto know that such tenderness
is appreciated, When Jenkins was asked
how much money he had taken he declined
to tell ..for fear it would make the bank off
GERS feel badly" Unfortunately, we have
no such sympathy with their weaknesses.
1t has been suggested that the best way to
stop railway accidents is to tic director to
each locomotive. The best way to prevent
bank frauds Is to arrest or sue one or two
bank Presidents.-New York Herald.