The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-07-12
THE ELASTDEEILCATION.
The Central National Bank Loses 800.
OOO-Circumsta noes OF the Crime HIS
tory OF Sanford. the Cashier

Tee New York Sun, of Friday, says:
Mr.. William h. Sanford, cashier of The Gen.
tral National Bank of this city, Is detaulter to
the bauk In the amount OF 500 0O0 and is
fugitive from justice. leaving behind him
graoed tor ever, and young and interesting
family wholly destitute.
CHARACTER OF TEE DEFALoA1IoN.
The defalcatiOn consists in the appropria-
tion of bonds and stocks sent to the bank by
,ts country correspondents tc--be hold for ne
gotiation at their order. Such remit6auces
pass into the custody Of the cashier, and are
held by him until orders are received for their
sale, when the proceeds are placed to the
Central National Bank the cashier will have up
wards of half a million Of such securities in his
hand, endorsed in blank and awaiting orders to
sell. The amount SO entrusted to him is sell
entered upon the books Of the bank. and the
amount Of them on hand is known only to the
cashier, whose honesty IS the only guarantee
for their safety. They are IN Ms possession
from the time of their receipt until their con-
version into money; and if that officer proves
dishonest, as in this instance, there is no
means OF detecting him until inquiry is raised
by the correspondents owning the securities.
CAREER OF THE pEFAULTER.
Mr.. Sanford was formerly junior member
Bates o.. which firm he left to assume
the position of assistant cashier OF this
bank. In this position he acquitted him.
and displayed such unusual promptness, quick
ness, and general business tact, that on
the reorganization Of the bank force on
the withdrawal Of Mr.. Henry A. Smythe, the
Collector Of the Port Of New York. MIR. Sanford
was made cashier. In his new, enlarged and
more responsible position he continued to
give the utmost satisfaction to the direc.
tors Of the bank, all of whom placed the
utmost confidence in him, and any OF whom
would have signed his bond at any time tor
half o million Of dollars. During the time he
has been cashier he has frequently been trust
ed with unusual amounts OF private funds, the
president and directors having 80 much conf
dence in his integrity that they never hesitat-
Cd to place any amount Of money in his keep
ing. The president OF the bank, Mr.. W. A.
Wheelock, states that at times MIR. Sanford has
had the custody OF as much as $150 600 of his
private means, which he could have disposed
of at any time, and has been similarly trusted
giving occasion to those trusting him to ques-
ton his honesty.
his DoMEsT1o RELATIONS.
He resided at frst with his family in Con.
necticut. but finding it lnconveDient to reach
his business from that dis ance, he moved
about two weeks go to Flushing. L. l., where
he lived in most frugal and unpretent.ous
manner, giving the impression from, all his do
mestic surrou dings Of q lid care to live
ms & an eets os nus
to spend the summer months with Sanford's
mother at Westport, Connecticut, where they
still remain.
Last week It became known to the president
and other of1cers.of- the bank that sanford's
youngest Child Was very sick. On Thursday.
Sanford seemed very gloomy and Responding,
so much SO as to attract the attention OF the
anx ETY. regarding his child. The president
finally went to him and advised him to 60
home. Sanford thought ne. could not get away:
place, &c. The president replied that 1t was
his dut to go home to his sick child, and IN
sisted that he should start at oace. About
half 90 hour afterward the President noticed
that he had gone. He has not since made his
appearance at the bank.
THE DISCOVERY.
On Friday the fact was notice d and comment
ed on that he sent no word to the bank, and
CT Saturday, mis- continued absence and silence
caused the president to dispatch messenger
aelected for, this mission. On feaching
Wes' port, this young man was surprised aud
alarmed to learn that Sanford had not been
fact back to the bank, causing not q little COM.
sterDation In that orderly institution. An in
yestigatioD was at once ordered. The cashiers
box. IN which were Kept the funds snt.nsted g to
dents ROOM and there opened by the latter
officer. The frst thing that struck his eye on
opening the box was an envelope addressed 10
himself. This he quickly opened, and found
hastlly-written note, traced with q trembling
hand, without address, date or signature,
reading as follows:
THE DKFAULTER's FAREWELL.
"Forgive me for what have done. ! have
taken nothing with me, end have left my FAINT.
ly destitute. What is missing | have lost in
speculation in sLocks and gold. God bless my
poor family I"
HIs WHEREABOUTS A MYsrERY.
This no.e left no room for doubt 90 to the