The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-08-17
HEAVY BANK DEFALCATION
The 9radesmsn's National Uank
~ flsseed Out Of $o6, 900. W.

~.
Two Tellers tho Alleged De-
linquents.
Late yesterday afternoon rumor fososd ss way sss
Wall street to the eject that one OF eur national basi
been nssced BY Of It's tellers 10 the amount a
about 100000 II very soon Afterwards became known
that the institution watch he'd thus suffered ives the
TrAdssmsas Naaoua Bank which 10 located as No. -
Broadway. Tho particulars Of The dsfaloasioa wsra -
seariy - could b asoertained. ~ follows
rHx SUSPECTED rARrIEa
Two individuAs named respectively G. u. Baker 80
Arnold. have been employed for the Lass thirty yeas
IN the Tradesmen's National Bank-ths one - payiae
teller and the other receiving tser in that establish,
mont Both men have been connected with the bAnk
from their earliest years. and may DO said To hare
grown up with the institution; the &erspeacas
BILE lives they led coupled with their strict attention
business and general reotituds OF conduct the rsiaY
trust aud confidence wero rspossd in them Mr. Rsrs3
married man, with lsrge family, the nsm,esa =
which are T,suy grown up He s between royty riy,
and ssy ysax q age, Of pleasing s.Sdress aud has
the respect Of alargs circle Of friends besides his o
intimate business associates In the bank and esewcra
Mr.. Arnold is also married. has family, and Ia %.
tesmed by all who know him. The members of The
families Of both gentlemen now at Long Branch and
elsewhere enjoying tho attractions OF those summer
Sorts and the painful exposure which has TRAD.
spired will doubtless DO Of great moriiaostos
10 them @xs-t
Until Wednesday morning these gentlemen we're hstd
10 be all that they ought to be- and it will DO matter %
oongratulation to many should they be enabled 70
emerge from the cloud Of suspicion which now appsars
to rest upon them. Three days ago certain repors. p
vatey communicated to the directors Of the bank LED
Thorn TO surmse that ali no. correct with tho Dash
returns Of Of their ollers and in investigating ting
evidence they had against this individual hsy led
to suspect the other.
now THs DISCOVERY WAS BROUGHT ARoUr.
Any person OF all familiar with the mode of conduct
ing business in any Of banking institutions must be
Of tho fact that opportunities seldom iao
ing which afford acting in responsible positions II
those establishments tho to avail themselves,
80 disposed OF portion OF their funds. Numoroua
instances within the past few years stand on record ~
corroboraticn of this fact For time past slight
suspicion that something going wrong 10 the ess
lishment agltatod tho mind OF gentleman connected
with the Tradosmen's National Bank On inquiry he
found there was ground for the suspicion Aztec
weighing tho matter Ia bis mind the course ho re-
solved upon adopting was to inform the President OF hs
obeyng this impulse. he waited upon tho Presidouk
instituted investigation into the financial affairs
OF the concern, when, 1t Ia stated, the books q
tho paying teller exhibited deficit Of $50 000 Fac
thor investigation disclosed still greater dofaica
ton amounting to about 100000 As soon -
these discoveries were msde ono OF the tellers
was Immediately suspended from the fulhlmens q ne
duties Of his oacs The next day like course was pf-
sued towards che other. This was the state Of affairs Y
to yesterday afternoon whom meeting Of tho drecsos
was held surprised they at the revelaose
made therein in relation 70 two Of the most trusted anA
connected with the institution that Little
or 40 actlo was taken in reference to Up esesa ~.
ties y.sM isA -.vs;S-sT-.t
Il viii 50 sSsa a. 4 gasee, from the Positions co.
cupied BY rsces.pg paying tellers Of banks how
easily these officers 10 disposed play each the
others hands FOR an purpose. The funds Of Ne
institution must necessarily rass through tho hAads se
ono or both IT. therefore, they fei dssrous % operate
together and make Of the funes Of the e''aoAsa
ment for personSl use. tho oppor!un. was s"o'ssa
them 70 do 90. Although 10 s thought th. INC opss.
tons which havo rssultd 10 loss to the bank $'e 800
length OF Time still she books each examin W.
day nude disclosures which, might suggest anythiss
like defalcstion or amperinE with ths fluids uuM
very recently.
now TIE xossv wg,,'
Neither or tho suspected parties can give any -
hcren account Of how this Incorporated money has
gone. 1t has been distracted from time 10 omss
probably partly through error and partly, II Is ale so
In order 10 meet supposed shortcomings speculas
and nothing remains to show for It but the ds1x
entry 10 the bank books Iuor has il thst spscuasioa
Is at tho bottom OF ALL but 1t reported on sosrab,r
reliable authority that neither of the gentlemen impu-
Gated in the transaction has derived any actual bsuSds
from the account or has directly any portion OF t.
As has been before Observed men we're
steady and regular n their habits They did not dr,n
gamble or dssipatc In any particular manner. Sani
always conducted themselves as exemplary hcads q
households and fathers OF families usually DO These
facts have led the bank authorities to act very
carefully In the matter. They do not IKE
rush into any preclpate action for feas that ths
may be wrongfuily accusing who are iuuooeus:
but as the deficient sum be only traced back 10 the
eIlen' hands, IL 10 but rational that suspicion sbousa
attach itself there N the 6rst instance although per-
laps II may possibly turn out that the really guilty
party or parties will have to DO sought out elsewhere
tbs ACTUAL LOSS RANK
Although the deficit stated first sight 10 be over
$4,000. has since boon discovered tina. securities
ound among the papers OF Messrs Arnold ana Bskss
viii reduce this amount TO $4,000 The surplus capital
4 the bank is said to DO over sasoOoo, 10 addition "a
he regular paid up capital; consequently 40 loss w
csut 70 dspostors nor will much troubls or iucouvs.
hence be Felt WIN regard 70 hs taads Of the insti-
uton- I'll.
ran fnADnNRs's BANK
'as originally organized under the old Safety Fund law
this State. and came under the Na,iooal Bsuk ass
bout Two years ago. with q capital OF ono rniIlioa n
olsrA Its chief officers ere Richard Berry Press.
snt, and Anthony Hssey, Cashier. and large uumbse
gentlemen are employed tn the sssbishmsst Ia is
Arious depafs Nota suspicion has hitherto bssa
'sashsd against snsls individual engaged 10 TIE
INK, and the present exposure 10 q matter Of The
satsss regret 70 ALL apart from any personal intsrss
u In the gentlemen thus alleged 10 DO implioassk
LETTER ysox ras rxszDEn.
We have received the following letter iron NE Pres
mt