, 1873-04-28
ENORMOUS DEFALCATlON.



bank, nay!ng llo wislcl to deliver them up. Mr. Tap
pan, worry nNcl nsonlslol, askcd him why ho did not
deliver thom 10 tho bank oI1rors. Mr. Taintor ro-
Piled, "No; want tho UloarluglIouao Committee to
80 at ouco to tho bnnk, aud examine ita aaaira."
ne wHs 60 perfectly cool and collected TINT
Mr.. Tnppan did not know what to mako Of
him. 11o inquired what the mattcr was. "Defalca-
ttor," was tho laconic reply. "Whoso2" asked Mr..
Tnppan, still moro rHioniahcd "Miue," was tho
placid answer. Ho added: ~ will 60 mp With tho
Comntoo anl assIat them to tho best Of my abllts.
hnvo no intention OK running nway." Mr.. Tapp"n
Immediately summoned tho Committee ant seht tne"
to tho bank, IT Nnsanu atrcct.
Meantime tho Directors were holding thor meot'ng'
and the entrnnro Of Tho Committee astonishcd thoh1
even moro thnn tho Casier'a Wait did AAr. Iapran.
Tho Committee stated tho object Of their coming,
and tho Directors listened In blink surprise. Ms'
Tn!nter, having hung UP his ororcoaF hna mt
announced that he ready to mike oxplanslionS'
uo waH asked tho nlnolnt Of tho defacation and nero
piled 000-$75 600 III gold $t62 ooo in securities
left in tho bank for aafo keeping and tho
securities Deposited a. collateral" ou zu., ,no,
Tive years,r Vas Tho rsply -, -, or, =, ,,o ntr.o.
Have you anything loft ?" nsked ono OF 'no o'se0-
t,No," answered nrr. Tainter.
.What haa become OF Z"
MI. phth psonhWorth tho President, was Effected At
tors md Committee retired to private olco 70 avail!
tho arrival Of Mr. Tarran, and tho Cashier going be
nnthing ah had adj harpaned When liz oommtleo lsasaea
ha Rey charactc1Ize Il "a Grosa ontrsgs ~ Gt M
M a5aSn .nK san
inycsjpatlon which lasted until lato hour this eye-
ng gss y TsFa e sas Asa ossher
coolncsa undor tho circumstances W. pSltJnJi nniy
enchanting 1Ic moved aeout here ana e hene o Ge@xn @
IL iaseas asPa eeowe fs'oTs !, hsa sss
~ tssa az asfefs 5 rssppes ie IN ho bax for sa keep
ing, Of which tic Cashier acknowledges stealing
sasie sIsaeeo sppsssi%aey ssyins 1' e,%ss
capital oo and s1p1tsS A. ssr e aEsg aeNsowl I'VE
ssna sxna as9ls sts1s|sa & T2S sD' e''ner
was IL ar td.ais HnS1 md
The pa5 is 10 10 stricken from the Clearing House
list on Monday y BANKRUPT: p Iho a'1sx n
gsI nav rccsivo 60 per cont while those WHO
paeoG heir securities in bank for safoKeoping haso
Tho clearinghouse Committee aro especially sayore
on tic Bank o!icers They say that nothing short Of
tho gsossest e. nc Garfield such
III Tbs Directors mado application TO- United States
Sir. Tancr and Il was granted s .s,n
as,o1 t. sss 4 ana er is ho
hts m p11olier m in l. no jill Taines father is
rse of Windsor Conn r. ,na IL + sep@tsa cns a TIC
bS %of'a tn lbs daa National Bank q
ts city. to this fact Tint young Tsinter q 9Tsa @
HI s1s Il P;sa y ~ : Ss
Ss5esss es Y y ks~ q s aSss 1a
family havo een living IN this cy during tho m past s
h5se m1 mon s s s es 5ps aas ., liz rors
Voar Correspondent had IN interview With bin to.
nGht in tho courao Of which he offered tho following
When took Charge found tho bank in Yer,
weak aud impoverished condition formed o. , ,a9 "a aao1 q
a vast 5oal Of eompasasey On worthless securities q
good prceo. then tsIod raeIe Ma!l ana a. ue e. wen zen
self. Had succeeded the tauk would havo had th'
Tho Anntic1s ono OF our oldest banks. It was or
eauisod under tue State law, aud one Of Tie hra
sf o N NaSas sasa setns as aI M
@ sSsreg Was "a o pT Value 81 s shosh
aGovo t1tat price being in good demand G. 1liltn y
ssrner sefsta1 ca s s'ae bus
very little business through tho clearing u no''ao 10
time Ill., oxeaaion, ~, Cas tasss tng ~ o,etomrne aaa snaf
RIO the dsaocinttd Iress.]
NEw Fonn Agr nsor na p9gan Soncerue IT. the So
1ency Of tho Atlantc National Bank II Nassau stroc
he bank w.s Originally sarsa ne Ss"n es
% ss oaaS III sspss5 s5o5
The bank sustained severe 1osscs aftsr its ope,
ing by tho depreciation OF tho securities which 1t Ae
consnauently It Ina neyor had the reputation Of ben
strong, md many bankers aud business men ~ =
lis checks passed. regularly through tho cearin
uouso, which waH first advised o. IT, Gond,alon
hp1 1s1 n .rena no s
disclosure which took placo: ..u
it about o'clock i Z Ta!ntSE tho oashi;er sto
tic ta CLEARING t l1oaso Examining Committee announce
hat the bank was nsolyent oSn Sa @ aat 10 1 VS. ta
from ti,e funds and lost in stock speculation
Alr. Tappan, who was President Of ,,,,si tlle O.
.sn L o nsHssa aaa aaa
for IN examination u the bank mud ts alsirs on =
tnor,sea ot to tas sue for tho
banks and tho public Iainer tue caeh;e5 toia -
h9 e had to h s neeeMss @ o ne tGs ouo an
Gc wished to aid in whs,cycr investigation might ts
place 3h m srsat Of o5 an o in I'm hs
few dsposltors gathered about tho dooro to r,tHo
their money one e'sstomsr g.fS VINO h9a i
sS sSsat sat1aass fsS ana sied @
abort time concerning tho .a ;hsiY'ine 'aae n6n. o6
1sT viii v2 iat Hs sa e Of 9,s essspo
Of tue bank and its securtos, at tho request q
aesS@psn sSaph' 9 ths sss sas l sad sst .ase{
sFe so0 aax around s'ehns{. hat {.o1 eeT
Insolvency up to lint AFTERNOON. They said that Il
had always examined the seeuritiea carefully,
had not found any deficiency o1attng either IL -
Of s1easrs. Tapl1au, Leyoridgo, llayc., Hnntort
Perkins, gave the fullest dataile IN their pos5essio,
through lie aoeurttlaa carefully, throwing
the bsd, and figured up , ~ nearly ea A. ~ pc
arrlvlng approximately ut tho assets. While !!
wero engaged in tA work messenfser was sent
asssting ho Committee In nrrlyng at the tIs1e co
ton Of Affairs. Tlis Cashier was not intormo
this movement, although le naao1hgtly o1pe
It. United statcs Deputy Marshal pnrsis arE
about o'clock in tho bauk, and =, aw;
orders from tue Examiners when to make tue ar
At about Z, tile work was finished, aud II was fc
TINT tho deficit indseiant San s, et to fsP ,a @ and NJ
amo,unt , could be- traccd tn had debta. for which
0sshsr was not ,Ss fssp0ns'sS, %s S,m A10at 10 Ills *'
apeculatlons. 1t was found thnt, bestdca Il
ti.o funds Of tue tauk tor Tho purposes
speculation, ho had also epon.ed f16s 600 ot pr1ytt