The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-08-17
HEAVY BANK DEFALCATIOy,
The New York TTadesmen's Ma
tIonaI Bank FIeeced out of
sos, ,ooo-Two TeIlers the
Alleged DeIlnquents.
F,0p, me Ne,, York Herald NJ to.olou

From me INetO York Herald OF to-day
Late yesterday afternoon a rumOr forced It's way
banks had been neeced by two OF its teers TO the
came known that the institution which had thus
suffered was the Iradesmen's Natiopel BANK. wncn
the deacaton were as nearly as could be ascertained
THE SUSPECTED PARTIES.
Two individuals, named respectively q; E Baker
years in the 1radesmens National Bank-tns one as
Paying Teller and the other as Receiving TELLER ~
with the bank from their earliest years and may be
sSd 70 P W5e bey 'e ed with te
strict attention to business and general recttnde oil
posed in them. Mr.. Baker is a married man, with
large family the members OF which are mostly
He is between forty five and fifty years OF age OF
pleasing address, and has the respect Ot large circle
Of friends besides his most intimate business assOci-
ates 10 the bank and elsewhere. Mr.. Arnold is also
know him. The members OF the fam lies OF both gem
emen are are now a. Long BTagen t ana elsewhere EN-
The painful exposure which has now ranspired will
Until Wednesday morning these gentlemen were
held to be all that they ought to be- and 1t will be
abled to emerge from the cloud Of suspicion winch
s S% to M
of the bank, led them to surmise that all was not
and in Investigating the evidence they had against
this individual they were led to suspect the other.
HOW DISCOVERY WAS BRoUGaT ABOUT
ANY person at all familiar with the mode of con.
ducting business in any OF our banking Institutions
must be of the fact that opportunities are NOT
SELDOM lacking which afford men acting in responsi-
bic positions in those establishments the means to
funds. Numerous Instances Within the past few
years stand on record In corrObOration of this
something was going wrong in the establi h.
ment agitated the Eino Of genlleman connected
found there some ground for the suspicion. After
resolved upon adopting was TO inform the President
OF his doubts. and have him act in the matter. Accord
ingy, Obeyng this impulse he waited upon tue Presi-
dent, who Instituted an investigation into
the financial affairs SnS OF the concern whsp It
exhibited a deficit OF $4,000 Further in
amounting to about s6OOCO.. AS soon as these dis,
coveries we're made, one Of the tellers was imme-
his office. The next day like course was pursued
to yesterday afternoon, when a meeting Of the dl.
rectoTs was held but so surprised were they at the
most trusted and respected men connected with the
institution that little or no action was taken in refer
1t will be seen at a glance from the position occu
pied by receiving and paying tellers of banks how
easily these officers. If disposed play each into
the others hands for an Improper purpose the
the hands Of one or both IT. therefore they felt de
OF the estabishm personal use the opportunity
was afforded them to do So Although y Is thought
bank date back some length of time still the books
on fsca Gay maze no which
ing With the funds until very recently.
THE ACTUAL LOSS TO THE BANK.
Although the deficit was stated first sight to be
over S9 900 has since discovered that securi
ties found among the papers OF Messrs. Arnold a I'd
Baker III reduce this amount to $4,000 The surplus
capital of the bank is said TO be over o. 000 in addi
ton TO he regular paidup capital consequ uenty no
loss Will result to depOstors, will n trop BILE
Inconvenience tet with regard to the funds of the
institution,
THE TRADEsMEN'S BANK
was originally organized under the old Safety Fund
law of State, and came under the National Bank
act about two years ago. with capital of one million
of dollars Its chief officers are Richard Berry.
President, and Anthony Halsey, Cashier, and large
number OF gentlemen are employed in the establish
ment in its various departments. Not suspicion
has hitherto been breathed against single indivl-
dual engaged in the bank and the present exposure is
matter of the greatest regret to all apart from any
TO be implicated.
LETTER FROM THE PRESIDENT.
We have received the following letter from the
President
TO me Editor OF The Herald:
TRADEsMEN's NAT oNAL BANK. NEW YORK,
August l6.-Exaggerated rumors ia reference 10 a
de alcation In This bank being rife, TO relieve the
anxiety and apprehension OF the stockholders and
dishonesty and cOlluson of the two leers (who
enjoyed the confidence of the officers aud directors
for period OF thirty years they have been enabled
to de fraud the bank of amount equal to the
SOS 600 This has been effected in manner that nc
ordinary foresight of the officers could have pre-
vented and 1t is of sincere regret that tn
confidence should have been so abused. The surplus
of the bank. upwards Of S450OO0. will be affected
the extent of $4,000 only the bonds OF the detautine
clerks lessening the deficiency to this amount
RICHARD BERRY, President.