, 1869-07-12

t1natvn: .tmnnir-Tho Bank will
Make Good salI Losses.
=. ,Fysm tAe .5tu York 1smas, Js,y a. -.
;;Af.tM. II SANFORD. cashier OF tbs Central Nj
has ahsoonded, md i deiaulier 70 ne extent of
e5out $lo0, 80: AE~ SANFORD 1eft the bank on
1hpIadaJ, y1ly !. a.o1etly Win the intention Of
WIS residing lor Tho summer, aud .whltnef
he VaA aald % hare been called BY the Hines, Of
ons q ~ eh!ldteu. since hieh timo he has nos
At tho tank from him on tbs foiiostnz dsy. tae
President seat messenger III. SANFORD i broihe1,
ss 1as 81 lan d han1 sSa f. 70
bJ the messenger, on bis retufu ,tas the caanler
had not been TO tast plaza Il all. This gave I1st
ID Of July, 6aturday, the President ordered the
caahjet . boz TO oo examined. This brought to
light the TACT that tnets WIS a delalcatlon
tanned = note from the aoscoadin9 casn-
ies admitting ttAt he had made use OF the nus
ing funds 10y 10y speculaiise popoaes, asktns for
words: ~ have taken with me nothing belonging
70 the bank leaTe my family destitute. God
bteas NJ poor E1fe and children" This tiscoTer1.
logged noscnce or the cashier, and also for the
discrepancy in the bank accounts, which Herp
cause thai eun be assigned for NJ. hsn1oqu'a &C.
ton is tnat fur come time past he has beea spccu-
laiing for flae IN gold, and, unfortunately. has
~holt a1falr may be stated thus: Many country
bants. In cor1rspondenoe with tho Central,
have ess " 1hs hanit e VIII
TO be msde " the bank. On orders,
1ees!ved fsnm nc dspoaltoss. These bonds wefs
them trltbout o1hef7 being received from the
owue.1 authorizing him 50 to do, and used tho
mitappsopnat1on Of tnese bonns, simply. When
orders vc1c led Tor the safe OF the properly
thus Left On deposit, Mn Sanford would reply, a.
hD t,SlI IA$fA fnok hAf &ts.k a.
already sold, but that, "erIor," the amount r.
eeived Irum such Aale was credited to The
Nrnng bank, and therenpon he would credit tho
taxing The bonds Of some other depositors aad
selling Them TO make up the moneyed loss, which
S1a be or ss OF nc
q Inc Central Bank, and q ieSI issuo
might BE- raised ~ to whether that tnstttutton Is
ibe arta OF Mr. SANFORD, the fnct being that the
loudI were Aent 70 hin personally for safe keep
tesd E II 10 1ase my question Of thls so1 hovescf, w
but viii indemnify lta corresponding haaka To the
u.ermosr fsrtatng for aur 1o.s theJ nny have sul-
or colIse, this de;aleation In no vtse Affects the
character, soundnesa, OF standing OF the Central
The working capital Of his Institution IL s. 001 0oo.
less than onethlru the actual surplus Of the bank,
after the payment OF 4 semtRnnual dividend Of 3
Fer cent which haa Just been declared, amount
lit. Sanford u the last mau, II Judged by his
mode Of LIE, hls general character aud reputable
1naGctai Standby. would havc been inspected Of
arpIupratlng TO his own use any Of the property
int eame into hts keeping as bank oalcer. lie
Lived and dressed u piain, slmple style was ad.
oic,ed 70 no Ttce,.eyer attentive 70 sne duties Of
his calling. and InfyerdallJ reRarned In the nn81.
ctsl world Is Reptleman Of untmpeach.be cha1-
ncter, and one 10 *hcm the most Implicit re-
sa @sa BE- assn of LEE sad aad aa 1s
IN an exceedingly humble manner for one who
ReheI Rsa s sse anf an Wss ns =.
display. u!a Hss was always 30 pain
s, u, q = S Saa ,sl1 oessdSas f.. y sss fEs;i
Of speaking 10 concerning #, aud reeon.
mehdlng him to clothe himAelt In more coss1S
manner, and In style mora betting tho position
lad particular liking tor simple, otd-ln,hlone
dress, he did not speak to him concerning the
nAttel, as be h.d previously Intended i appears
thai Hi. Sapford's speculative operations were
carried on mostly through tho nrms of Kennedy,
Hutchinson / c.. and White. Morris / Co, al.
though, Of cousse, those gentlemen wcre IN cntise
possession Of the means wherextth he spec1.
lated. and dealt with him Is brokers generally
are daily IN the habit Of dealing with baak
cashiers, who operate with the 1egltl-
nate funds Of, md tho interests OF, the
Institutions with which they are connected. Be-
stdcs bis gold apeculattons It appeals that the ae.
TO so great an extent Slr. Sanford has been
cashier Of the Central BANK ever since lis ertab-
hshment hve years ago, and had The entire cona-
ton, thsn whom none we're more astounded when
the defalcatton became known. As IN Instance OF
tho uust reposed n n him, II may be stated that,
gentleman Of much wealth. made his will, and
named MI. Sanford therein as bis executor. Ar.
Sanford Is about Is years Of age aud In excellent
health, mentally aud physically. Runor hn1 It
yesterday that be was subject to mental a5crra-
ion, and that his abRence was probably due
TO tits cause Such IL not the case, however.
ness Of lind 20 1ar as the olcers Of the bank are
aware. during the whole t.Ee ne has beea con-
nected With tie Institution. ul5 ulAalEr Of trans
ness and despatch were sucA as nladc hin an in
tsl1ahle officer. He vas formerly a partner IN
the rFn Of Clalk, Ps1dee, Ha.cs Co., mud up to
the time Of this delalcl.i0a he bore in eaytable
reputation. The gentlemen composing the ntE
Just mentioned, h!s former rnrtncrs are his bonds
mel, and a5e, of eou5se, lec9ni3ry sufferers by
THREE young children. Since bis disappearance
NrA Sau.0rd has heard uotaing ftom him,
and Is II total lguoraace as ~ h.s where
atonra. The Central Rank has been very 1ortu-
nate IN Ita 1per1ttous for The Lust three Jc11R Ul-
der the officers and l.oasd ii directors now super
to s1o md tue oclccrs a1r so1cGhar surprised
on nnd:rg hst nner they have, BY racans Of IMAM
"a e. 5 sase M - 1n0 osns sSs a
ot1cla! term, the Institution Is nov loser to the
amount Of elooeol because Of the dishonesty OF an
Cncsa1 IN whose integrity they nad tue most ll1-
plLeit cnnrdence-
The officers Of the b1nk have Issued the fouos.
Ing Carl:
TEE cEs1RAL NATIONAL EAsx
or The CTR EFW YqnK. !
NEE fozI, July = les9.A
laIt1ls 70 he runss respecting tefnr.:ion the
rA Ct Mr.. Il. Stafford, late caahtcr ct tniA bant,
yen viii Please AuEeunec that thG character Of aach de-
falrah1n IL the fEfsarpfc cIrtation Of bca1s lnot
fus ..is krcpink The amount Of rneh ai win not
aetuA futI.s. after paJtEr The rccent semi Aanaa
nvtGtna 1hte peF ctnk
BY sTucr Of The Board Of DiFrc4nIx