The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-14
HOBOKEN SAVINGS BANK.

Knew m ents OF the Man.
ayers and DepositOrs-ssrhe Bank IL
Entirely and Perfectly Solvent'-Ex-
element Among the People and Anttci-
patton OF a Panic.
The gravity and extent OF the feeling produced
by the announcement OF the defalcatiOn in
the City Savings Bank, as published IN yes
terday's HERALD, cannot easily be imagined. En-
element ran to feverish-to an unwarranted
pitch-produced by anxiety as to whether
any further populations might be discovered. The
depositOrs were at first stupeaed at the thought
that man could possibly barter his good name,
his prospects in life and bring much care to the
hearts OF thousands Of struggling individuals for
the sum OF $4,000. There is hardly an
institution Of the kind throughout the coun-
try which would cause such sorrow and
II 1t were seriously injured. Happily for the
poor people who are interested therein, the direc-
tors chose an suspicious day for the publication of
the embezzlement The depositors could not rush
to the bank on the spur Of the moment, and were
therefore compelled to return to sober, second
thought, and to conclude that alter ALL there was
no danger. An unaccouptable run and panic were
thus averted. The character Of
THE MEN WHO CONTROL
the bank and the safeguards thrown by law around
depositors have likewise tended TO allay excite
ment. These assuring features OF the case Will un-
OF whi h came to light yesterday. Apart from the
sum OF $4,000 stolen from the cash which the
books showed to be on hand new oS
became public yesterday. Mr. John II. schoo,
a grocer, residing IN Washington street, who
has deposit OF 81, 200 in the bank went there on
Saturday to draw some money. The clerk informed
him that he could draw no more than $780, which
was all that the books showed to his credit. Mr..
Scnioo asked how that could be, inasmuch as his
own bank book showed $1,000 to his credit. The
clerk then showed him voucher signed John H.
Sol WI hdrnNp oil r
SchlOo pronounced the signature
A FORGERY.
The officials OF course made good the loss imme-
diately, but the bank further to that extent.
Whether any more forged checks are to be found
they cannot exist to any considerable extent be-
cause large sums OF money have not been recently
accessible to the. thief. The precise amount
thus disposed OF can be known only when
the directors overhaul each individual &C
count Four OF the directors were in con
sultation yesterday, the HERALD representative
being present to ascertain their views. W. W.
Shippen, Vice President OF the institution. spoke
very freely on the AFFAIR He said:-"Ihe lnsttu-
ton IS certainly not rich as it a few days
ago. but there are strong grounds tor hoping that
we may recover the stolen bonds which probably
recover them the depostors will not suiIer in any
way. The only way in which some embarrassment
might be occasoned would be
PANIC AND A RUN
on the bank. Even If run take place we have
$3ooo00 in United States bends, which we can dis
pose OF for cash In Wall street in couple OF days. II
necessary. The HERALD was mistaken yesterday
in stating that we only have $4,000 of such bonds
1t should have read 100000. Owing to the safe
nature OF our investments the profits OF the con-
Germ are very light, as we pay Six per cent to de.
with it. and have derived EDS more annoyance
than profit from 1t. II people only have sense and
make no run on the bank there is the utmost
safety for ALL We have 100 cents Tor every dollar OF
deposit. IL would have been very unwise to pub
lish the delacation earlier for we did not know
until yesterday the exact amount stolen, and as
soon as we ound that out we voluntarily offered
pubic statement OF H. In the meantime good OIL
GERS were placed on the track of Mr. Klenen, and
we expected to
CAPTURE HIMSELF AND TIE BONDS
before any sensational rumOrs could be set anoat.
1t was casual examination OF the books on Tues
day which led to the detection Of the emDeZzle-
ment. A deficit of $1,000 was discovered, and
sum missing found to be $26, 00O "Mr. Shipper
wound up by saying that Klenen's appointment had
HERALD, however did not assert so, but averred
1t OF other persons in similar places OF trust.
Another director alleged that $4,000 In United
States bonds and So 500 IN cash were the amounts
distracted. The following document given
by the President OF the bank to the HERALD rep
resentative, It's authenticity being affirmed by the
gentlemen present.
At meeting of the managers of the Hoboken Bank for
Savings held at the bank on Saturday April ~ 1873 the
Resolved That Frederick Kenen, late Secretary of the
cam scera with about e iwe SIX
dollars OF the m funds and securities ,s Of the in
at and inform them that about twenty three thou
States bonds. which may be recovered, and thai the
whole defalcation is about half OF the surplus funds
this institutions that the bank perfectly and entirely
solvent and still has surplus hand and above
all sums due to the depositors OF about twenty thou
sand dollars.
On being asked about the case Of Mr.. Schloo,
above-named. the Directors answered that they
had not feared OF the occurrences but they said 1t
was quite possible that man who would steal
money from the bank would not be slow to commit
forgery. In consequence of this occurrence
various reports are circulated avowing the actual
loss TO be greater than the managers are aware
OF. Up to q late hour last evening no tidings
OF Mr.. Kenen had been heard. His wife repudiates
with contemplate disdain the idea OF his having
made away with the money. She processes to
know nothing OF his whereabouts, beyond the fact
that on Wednesday he left home, telling her that
he intended 10 pass that night with friend IN
Newark. Among the iterate classes OF the de-
postors rumOrs were spread yesterday that the
| loss would reach
ONE HUNDRED THOUSAND DOLLARS,
and that 1t would be wise to withdraw their money
forthwith. Should the depositors attempt this
there Will not be wanting sharks to buy their bank
books at discount. The Institution will profit as
well as the sharks by the movement.