New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-04-28

yao set in his favor but soon II turned and arst 600
then another 81 and soon after to" on TINS time
his life was a feyersh struggle against ls 10 s,n nniv
easional snocess would give him gea S1 q, art an
IN he foIlowed nv reverse and despair 30 ~ W,t on
from wear 10 wear until finding his case hopeless ~ ue
termned to make clean breast OF u anu onu h h as
defaulfer TO the extent OF $4,000 ana te we IN
was insovent He said that ne hau hoi onev had
been loss in Pacific Mail.
STATEMENT Mr.. TATPBS.
F. D. Tappeu Chairman of the Clearinghouse Com
mftee made the following statement to a TRIBUNE re-
porter yesterday: regular meeting of the directors
Of the Atlantic Bank had been called for p satur
day and at about p. M TantOr, the cashier, called
upon Mr. Tapfen and informed him that the President
aud directors were about TO make an e&amnauo o, hs
reason but he replied that he had refused to surrender
his Keys the President and directors e en told Mr.
Tappen about the default ana handed to him the Keys
OF the tin box, in which the securities and other
papers Mr. Happen subsequently, found tnat ia hd
done wrong In keeping open the bank unul t9e Visual
the bank must apparent to the President and
the other officers He would make verbal report Otne
C1earing-house the Atlantic Bank would lie expelled
from the Clearinghouse, aud it's checks be rejected In
regard to the action of the Committee on inc baaAs
Ger flied checks he said they would ignore the eerca
ZION and throw the checks outhe only open to
them How cashier situated as TantOr was, could EN-
bezze such amount OF money without discovery was
easily explained II the officers in the bank were careless
OF the cashiers actions. Where everything is NOT
watched strictly, the cashier can 90 as ne peases anu
everybody will in ignorance until the crash comes.
II Tnor had made money in his specuaODs IL Is prop
able that his fraud would have been discovered
He told Mr. TappeP that ne %beh had entered
IN Wali-st since the dh ny. MI rop me inigea
that the funds OF the bank had been lost recently AS
TO the standing of the bank In the mercantile colnhh
y, Mr. TapPen said that 1t bad not been looked of as
prosperous lately. lie had known, however LOT Two
fr1stfnl of the bruk He Of course, knew nothing of
the specuatOns Of the cashier but he had an Impression
that the bank loosely managed. Ids impression ne
believed obtained greatly III Walst as the business OF
the concern not very large among the WehlhIoreo
J. e. sonthworth, the President, would give no infor,
nation to reporters He proteS5ed to pe gn"faht OF
Taiuors operations and had insisted against the ADVICE
of the clearinghouse Committee upon Keeping the OanS
'F'- THE RUINED BANK.
The Atlantic National Bank was founded as State
hank in 1856 and became a national bank when those
banks were first established. Its capital is 100000
According TO the last weekly statement its condition
was as follows Loans s725COo specie, $4,000; legal
tenders 81 600; deposits. s4S7,2O circulation. $4,000
decrease during the last year or two No very large
were held as single deposits so lar as could De
toils-S3OOOO. Tie Western Union Telegraph Company
had account there on which about slOO was que thel
though nearly hall that amount has been drawn In checks
by the Company, which checks have not been presented
for payment Tne other deposits run from rev hunG
OF the Committee, the suspension OF the DanK VIII nave
very little effect any ~ me naSnca World ana VIII
President ]. Z. southworth Cashier, f. L. Taintor;
tns a ~ Sp Samnel Ravnor j. g. sont9wortA
smith Sheldon Russell c. Root, Daniel NJ. Wilson, g.
Hilton Srrhner Leander B. Shaw. One year ago the
United states Bank Examiner, Charles A. Megs, found
everything correct at his annual examination The
books and property probably in order on that
day least Dec 49, 1872 the directors inspected every
thing ana fOunn every thing right
The following sgtement OF the result Of the examna
ton was made 7 o'clock Saturday evening by the
Committee Deposits about $4,000; deficit, tndepend
emf of surplus and capital S22sCO The surplus in
considerable. and the total default swallowing up the
capital and infringing on the deposits, amounts in the
rough to $j2sO The stockholders lose everything aud
the depOstOrs get about 50 cents on the dollar The
deposit of $4,000 made by e. Hilton ScnOner, who
was formerly Canal Commissioner.
EFFECT wALLsr.
The immediate effect in Wall-st. was discouraqng
The news caused a depreciation in stocks. The moral
effect was also bad, for its influence the community
could not be regarded but pernicious The manage
men of the bank denounced for laxity As
financial failure however, it amounts 10 little. II will
probably have advantage, and that is, 10 cause
hnaneiers TO make periodical examination into
their affairs IL expected that this course will develop
TaintOrs, and then the present epidemic Of
fraud will subside for time.