The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-08-05
The Late Bank DeiaIcatiOn in Boston.

From The Boston Advertiser dug g.
lbe tohoWlng, purporting to be sketch oil
now the late bank deialcatiou occurred, and the
manner OF its accomplishment, we copy from
the Saturday EUeTing Gazette. 1t derives its
main Importance from the inference that 1t was
prepared by the deiaulting cashier, whose con.
duct, however, it contains nothing to Justify
and but little to eXcuse:-
A man calls at a certain bank and expresses
desire to open an account, intimating that it Will
not be worth much, vet as matter of convent
enCe he would like the favor. Upon due inquiry
he is found TO be respectable, and accordingly
accepted For quite q period the manner of
conducting his business has the appearance OF
care and system. But at the bank the business
bas increased rapidly. Depostors have been
added daily, and in every department the work
has doubled, with no additional assistance.
Especially so has this been the case in the book
keepers department, in which centres in this
bank all the details of the institution. AS q
national bank, the work has increased the
necessity OF making many returns especially if
many national securities are sold. Conse-
quenily the work unwittlngly and uninten-
tlonally gets behindhand. In every bank
daily balance is required, proved. Here the
balances were struck without the proof the
book keeper hoping, and fully believing that
every day would give him the opportunity and
leisure to make up the lost ground. But the
business is too large too immense to admit Of
1t. Hence the opportunity Tor large and nu
merous blunders. The daily slate or card which
ought 10 show the real condition of the bank
is made up for want OF this very proof; the
book keeper is fearful nervous, and ambitious,
and iIom other causes dsliSes to ask or aid il
possibly he can avoid it, Accounts now begin
TO get confused and irregular ana blunders and
complaints are frequent. In this dilemma our
friend first spoken OF, apparently has overdrawn.
The book-ketper calls on HIM, states what he
thinks the fact, and he replies it is impossible
or course the book-keeper feels uncertain, not
being able TO furnish proof, and returns to
examine, and see ii it be so or not; at the
same time for fear of being wrong, he is unable
to have our friends check refused. The account
however, is PROFESSIONALLY overdrawn. and
again the book-keeper calls on our friend and
insists that he must look the matter up. The
checks are asked Tor, and behold, such as were
given as memorandums (borro wed and received
although not marked so,) have been presented
and pad. The fear that possesses the mind OF
the book-keeper no tongue can tell. Fear Is the
strongest emotion that can seize upon the
human mind; here 1T mad its full sway. Our
friend promised Immediately to cover the over
draft from resources already negotiated for
controlled by all the feelings that man
can experience when placed in such a ter
rible position, (ior the OVerdraft now sho VS.
a large amount,) coupled with promses-the
book-keeper consents to wait. The account is
meet his promises The book keeper calls again
and again, receives the statement that money is
coming and the accounts will be made good.
Fear and OVerWork have done sad work for the
book.keePer, and he knows not what to do
Having 10 adviser or counsellor, he waits for
our triend-who by means thus unwarrantably
ODtdlDeO, DeglDS 10 increase ana move out In
different channels of business stating by so
doing he can save the bank, the book k-keeper
and himself. Day by day, week by week, month
by month, this matter goes along, almost every
day the ook-keeper calling on our friead and
he pacifying the terrible alarm by positive as
surance that he can recover himself but wants
q little more time.
At this juncture the book-keeper very unex-
pectedly is offered the berth of cashier of the
bank, which he accepts, taking with him part
OF the accounts, among them our friends, but
this he cannot keep long, as ii would seem that
he did so for some obvious purpose. And now
the cashier has TO resort TO strategic means to
cover the fearful position our friend has placed
him in, by still retaining what is termed the
foreign accounts. Each morning as the clearing
comes in, he endeavors always to assume the
checks himself, thereby retaining enough of
our friends to prevent his being overdra Wn
apparently. And be it remembered that almost
hourly did the cashier plead with our friend,
and beg and beseech him, in the name OF
every endearment on earth to save him. And
the same reply would come, only wait just q
little longer, and, las sure as the laws of gravi-
tation exist, you can be saved" This was fire.
quent expression of our friend. This condition
OF things has now done sad work for our cashier
He had gone as far as his nervous system would
allow, and he breaks down suddenly. Taken in
q fantlng fit, he is conveyed to his home, but
returns to the bank for short time each day
for the better part of two weeks. In the mean
while the card, or state of the bank is being
made up by others, and for the first time fol
years examined, and the discrepancies which
have existed for two years and upwards discoV.
cred. The rest is well known TO the public.