The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-27
Cool DemeanOr OF the DefauIter-ssI Don't
Want to Have Scene About IT,
The Executive Committee Of the Clearing
House Make an Examination.
A ROTTEN STATE OF AFFAIRS.
What the Detaulting Cashier Says His Ar
rest Interviews with the President of
the Bank, with Mr.. F. D. Tappan
and with the Directors
of the Bank.

Rumors blew around Wall street about two
O'Clock yesterday that the Atlantic National Bank
was in difficulties. For some time these rumors
could be traced to no authoritative source, and a
HERALD reporter, in spite OF most persistent en-.
q0iries, could learn nothing definite A depositor
of the bank finally met who, after being
asked the question as TO how the bank stood and
whether IT true or not that it was in trouble
simply answered by fourishing very respectable
roll Of greenbacks under the reporters nose,
exclaiming, IN great gee, owe got my pile, any.
how 1t appears he had heard OF the rumors, and
rushed in haste to the bank to get his money
While he was drawing it, margin and all,
MR.. +. l.. TAINTOR
the cashier Of the bank, said he took his money
in his hands :-''Ths is somewhat irregular Mr..
A., but l suppose iJ's all right" This
taken in connection with subsequent develop
ments, was a rather marvellous piece OF self-pos-
session The reporter continued his researches,
and by and by the whole story came out. 1t is one
OF the most sensational OF recent Wall street de-
veiopments and goes great way to further prove
the rotten system which prevails in the financial
centre of America 1t is the old, old story OF de-
fauiting cashier; of the man who unable to put up
with n competence, wants a fortune, and wanting
It too quickly comes out 'on the wrong size oil the
fence.
HOW THE NEWS CAME OUT.
About half-past twelve O'Clock Mr.. +. l.. Taintor,
che cashier OF the Atlantic National Bank walked
into the Galatin National Bank and asked to see
Mr.. Tappan, the President OF the latter. he was
shown into the ONCE and both gentlemen greeted
each other civilly.
down, 81 have come to tell you rather unpleasant
news, which may possibly astonish you. l am
cashier OF the Atlantic Bank and am defauter to
the extent OF $500. 000.''
Mr.. Tappan started from his chair. 1t almost
took his breath away that q man should tell such
thing in so cool manner.
.'You are deaulter ~ exclaimed Mr.. Tappan,
'.and to such an amount You rather astonish me,
as you say. But why you come to me with such
q statement ~
a comeyo you,- said Mr. Taintor, stn quite i'm
passive "because you are the chairman of the Ex-
ecutive Committee of the Clearing House, and
wish you to take charge OF my keys and OF the
bank"
"Of course you have communicated these facts to
the officers of your bank ~ said Mr.. Tappan.
"Not a word OF tins is known, excepting to you,"
went on Mr.. Taintor. Il don't wish the officers of
the bank to examine into my affairs. / much pre-
fer some higher power should do it,"
Mr. Tappans curiosity was excited to the high
est pitch lie wanted to know why the cashier
came to him and confessed such terrible state OF
swell, you see," said Mr.. Talntor, 'the Direc-
tors pay their visit to-day to the bank and then
some Of the facts may come out They probably
wouldn't know the whole truth, but quite enough
to put me into a bad box Now, l don't want any
scene about nor any reproaches. These people are
old fogies and it would be unpleasant There Is
much easier way of fixing it-that your committee
should come mp to the bank and make an examina-
ton; then you may see how things really are and
verify my statement. That's the better way am
sure.n
"But do you know to what you are subjectng
yourself by this confession ?" asked Mr.. Tappan.
s'Oh yes,r answered Mr.. Taintor Il am fully
alive to it. AS they say in the papers, realize my
position. But the best thing to do, should judge,
is to make an immediate examination. Every
moment that business goes on in the bank is a
moment too much now" Mr.. Tappan made
A CALL FOR THE COMMITTEE
10 meet, and one by one they dropped into his
ONCE. There came Mr.. Leveridge, OF the Bank of
New York; Mr.. Hayes, OF the Union Bank; Mr..
Hunter, OF the Peoples, and Mr.. Perkins, Of the
Importers ana Traders, who were soon made &C
quainted with the circumstances by Mr.. rappan.
Two or three OF the gentlemen then went round to
the bank at Mr.. Tantor's invitation, he accompany
ing them. When they arrived at the bank all was
going on as usual, and it was evident, as Mr..
what was Ill the wind. The committee. or that part
oil which had accompanied Nr. Taintor to the bank
then filed into the Presidents ROOM ut the back of
the building. The President of the bank, Mr.. South
worth, Is a gray-headed, hoary- bearded, tall old
man. and when he saw the three gentlemen from
the Clearing House Committee accompanying Mr.
Taintor he seemed to have sort OF presentment
that some thing was wrong. He extended his hands
and said in a trembling voice, "What is the matter,
gentlemen ?"
One of the gentlemen then explained the facts Of
the case, and when the President heard the news
he simply sank back In chair and tears came in
his eyes. II was evident that OF all news IN the
world this was
THE LAST HE WOULD HAVE EXPECTED.
For few moments he remained speeches.. He
said nothing to Mr.. Taintor and did not even look
at him. When the gentlemen from the the Clearing
House Committee said that perhaps IL were better
10 close up the bank Immediately, Mr.. Southworth
regained his courage Immediately and said nc
would never consent TO 1t. The bank stood
well In the eyes OF the community and he
was not obliged to close up until the
facts which were alleged against the bank
were proven. This was the reason why
the bank did not suspend, but went on doing busi-
ness until three O'Clock, thus saving itself from the
possibility Gifts being said that the bank had failed
or suspended. In the eyes OF the law, as in the
eyes OF the public, therefore, the bank IL still
solvent institution and doing business. IL will en-
.irely depend on the report of the Clearing House
Committee whether the bank is allowed to open or
not - -, 49, n.vv
Tho story of which the facts told above, had,
af conrse not leaked out In wan street yesterday
but the rumors that the bank had failed were rife.