, 1872-12-03
FAlTHLESS BANK-0FFlCERs.

Defalcation by the President and
Cash1er OF the Waikiki N. T.,
! Bank. ~
1'dd't'''' NJ r. sg 2s} Correspondence Of the 1s,o
This place was the scene OF some excitement
yesterday by the report that ex-senator VIM. n. .
Graham, President Of the Waikiki National
Bank, and Charles H. Horton, Esq, Cashier OF
amount Of $200, 900, and that the bank had been
compelled to suspend. That the bank had sus-
pended there Was no doubt, and an investiga-
ton into lts affairs soon revealed the fact
that the President and Cashier we're defau1ters.
but not in as large an amount as reported. They
have used the money in the bank to the amount
of probably $100, 900, and $25, 600 or $4,000 in
| bonds and securities placed in the bank bv dif-
feIent parties for safe keeping, are missing.
It seems that Graham and Horton have been
operating in stocks in Wall street for some time.
and have been mutual indorsers. They have
been putting up margins from time to time, and
we're finally. swamped by the great corner in
! Northwestern.
one day last week draft for $4,000 On the
Waikiki Bank Was sent for collection to it's
agents in New York, the Park Bank, and was
protested. This became known; depositors
took the alarm, and q run on the Waikiki Bank
was the consequence, resulting in its suspen-
sion on Tuesday.
Mr.. Horton, fhe Cashier, left town On Friday
Or Saturday last, and was not heard Of until
Monday when Senator E. II. Madden teceiued
. telegram from him, from New York, request
ing an interview. He reports Horton as being
but he Tas led into his present difficulty By evil
Influences. Graham endesyors to ahift ali the
responsibility OF the appropriation Of >the bank
funds on Horton, hut it is the general mpres-
sion here that the former was the principal in
transactions. For two or three years Graham's
course Of life has been extremely inconsistent
with the position be has held, aud the Board Of
Directors Of the suspended bank are generally
censured, having q full knowledge Of the way
the affairs Of the institution were managed,
for maintaining Graham in the position Of
President
Horton has long been the most popular man
IN this section Of the country. He was the lead
ing Democratic politician OF Western Orange +;
was last spring elected Supervisor in q Repub-
hcan district by an overwhelming majority, and |
Was this fall the Democratic candidate for Con- |
gresa in the Twelfth District against Hon
Charles st. John. He is the son-in-law Of Hon. |
2. F. Wheeler, Vice President Of the Midland |
Railroad, who is almost crazed at the
position OF affairs. It is & singular fact
that the father-in-law Of Mr. Graham, Mr. s. Y. |
Denton, and the fathe1-in-law Of Mr.. Horton, |
are the two heaviest stockholders in the bank. |
byterian Church here, and no man enjoyed the
confidence or respect Of the entire community
more than he. All sympathize with him, and il
he had remained here, everything, as far as he
vas concerned, would have been arranged satis-
factorily.
Much and serious Inconvenience to business
men will be the result Of the failure Of this bank
Many men having paper coming due deposited
funds in the bank On fhe day OF its suspension to
meet their obligations. This has al
been used to meet the demands
Of suspicious depositors. 4 consider
able portion OF the Homeopathic Insane Hospi-
tai Fund Was deposited in the bank, and it is
probable that work on that building, now under
fair headway, will be necessarily suspended,
throwing hundreds Of men out of employ
There is some doubt rs to whether the bank will
be continued after settlement Of its affairs Il
it is. it will be under new name and new direc-
tory. An examiner has been asked from the
State Superintendent OF Banks, and until the re-
suit Of hisinvestigation Of the books is known,
No definite idea Of the exact condition OF affairs
can be formed. It is generally believed that
recrors would make them.