The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-07-09
FIRST EDITION
G r l NJ e..
DefnultInR Cnshier-The New York Central
National Bank Loses 100000.

National Bank Loses s 100 900.
FROM the ~ y. Tribune Of this morning.
Financial circles were somewhat startled yester-
day by the rumor that Mr.. William Il. Sanford, the
cashier of the Central National Bank, had disap'
Knss and securities belonging to the bank. The
am0unt was vnriousy estimated at from 900 to
100000. The rumor as to the disappearance of Mr..
Sanford proves to be true and the amount taken by
him is alleged by the President OF the bank, Mr..
William a. Wheelock TO be not more than 100000.
From what can be ascertatned, 1t appears that
MI Sanford has for a considerable time past been
speculatng in stocks. and has lost heavily Of late.
100000 in United States bonds, which had been
forwarded by country banks as deposit in case
credit was demanded by tfem or in the event OF an
emergency for raising money by their sale. Mr..
sanford would often sell quantity Of bonds sent
thnt hank ordered them sold would dispose OF those
beiongng to another bank, which might not yet
considerable time avoided discovery, hoping that
turn OF fortune would enable MN 10 make goou tne
matters to crisis and satisfied that he could not
rotraevc his fortunes, Mr. Sanford decided on I!gnt
soing ont there at night and coming into the city
each morning On the list instant ne left the bank,
Conn., He did not return on the following day, and
finally Mr.. Wheelock, the President, sent younger
brother of Mr. Sanford'sg clerk in the bank, to
brother ascertained that Mr. Sanford was not there,
neither had he or his pretended sick child been
inc that something was wrong Mr.. wheelock
gave orders to have Mr. Sandfords box broken open,
Wheelock, containing an acknowledgment that the
writer had appropriated the 100000 in bonds, and
squandered them In gold and stock speculations and
concluding with the words :-"Pray forgive me- l
have taken nothing with me. God bless my poor
family They are destitute" Mr.. Sanford bore an
exceptionally high character previous to the dis
oovery OF his defacatlon. While mere boy, he en-
tered tne dry g00as se3re S Oi o G n Se Sson ~
junior partner. Five years ago he entered the Cen
tral National Bank in the capacity of bookkeeper was
and ultimately to that OF cashier. SO highly did the
firm with which he had been connected esteem
him, that they became his surety in the sum OF
5,000 He was very economical in dress and style
of living, and was considered by all who knew him
to be possessed of a modest competency. But a IeW
weeks ago he was appointed an executor OF
wealthy gentleman who was making his viii. Where
Mr. Sanford has gone to no one seems 10 have any
idea. 1t is not believed, however, that he has left
the country Apparently the bank ohcers nave no
Intention OF prosecuting the fugitive, for they nave
not as yet lodged any information of the affair with
Superintendent Kennedy.
The following card from the President was printed
in the afternoon papers:-
1.-THE CENTRAL NATIONAL BANK OF THE City OF NEW
YoRH s n 6 reply No. t. Ro r. sS5
ford late Cashier Of this bank you will please
of bonds Of the baU placed in the hands
loss viii mott exceed p or 6Sn
Of & Of ya R order shs Se
Board OF Drees4rg sWIT1IAM A. wHEELooK President"
The capital of the bank is s3,OO0,0OO.
statement of the Vice-President.
Mr. William Foster, the Vce-President OF the hank,
that the defalCatOn was KNOWN 10 Jlle
OF the institution Friday the I'd instant. On the
day previous Mr.. Sanford had complained OF feeling
unwel, saying that he had very bad heacache, and
asked to be allowed to take days recreation Per-
mission readily accorded, and he left in the
afternoon of that day, ostensiby to visit his wife
and children who are spending the summer at west
port, Conn. The next day, Friday the brother OF
the defaulter, messenger Of the bank announced
that he had received letter from the wife OF his
brother, plainly showing that her husband was not
with his family in the country. This, and the TACT
that he did not present himself as he had promised
at once aroused SUSPICION and, upon searching his
desk and trunk in which was Kept the United
States coupon bonds, of which he had exclusive con-
troll the fact OF his guilt was corroborated HIS ac-
counts and memoranda were found to be complete
and regular, and at once showed the amount OF the
bonos taken to be 100000 The cashier carried the
key of the trunk in which the bonds were Kept
which were nearly all from country banks, etner Tor
safe keeping for sale. He might easily have taken
several times the amount stolen 1t is probable that
he has puToined small amounts from time to time
by contriving to substitute newyreceived bonds for
the older ones when it was necessary to produce
them. The Public Examiner Inspected the bank the
last week in june
years OF age engaging in manners, and very popular
among his business associates. He has been with
the bank since its Incorporation, five years ago. and
for three years past has occupied the position OF
Ca hier. He was so much esteemed that the PreSi-
dent, Mr. Wheelock, had made his Will only lew
days sbefore the occurrence, appointing Mr. Sanford
his executor. He resided at Flushing, and mad
wife and thee children Zone very sick, to whom he
was apparently devoted.
He attended the Congregational Church, and was
connected with q Sabbath School. He Is known to
have speculated in gold, and II was undoubtedly
desire to cover his losses that prompted the crime.
The worst part Of the story is that Mr. Sanford left
his family without word OF farewell, and in destl
tute condition, This fact has led some to suppose
that he has committed suicide but Mr.. Foster and
those who knew him best think it improbable. No
detectives have been employed to work up the case