The New York herald., 1873-12-10
HosFoRD's HAUL.


How the Cashier or the Pine Street
Firm Made Away with His Employers
Money-Advice OF the Defaicator TO His
Victim.
The defacatlon by Hosford, the ex-presidenr OF
the Croton Bank and cashier OF the banking house OF
Augustus W. King, No. 80 Pine street, created quite
lively sensation on the "streetr yesterday, when
the report published exclusively in the HERALD
yesterday OF the little unpleasantness was read by
the bulls and bears To those who were personally
acquainted with Hosford the news was a terrible
surprise, as Judging from all reports, he was quite
popular with everybody and was always consid-
cred to be reliable and trustworthy In every re-
spect. Mr.. King, his employer, vas OF course
taken aback by the defalcation more than any one
else, for his confidence in his cashier was un-
bounded. Indeed, had it not been so, Hosford
would never have been able to commit the crime
he did-at least not In the way he chose to make it,
A SUCCESSFUL OPERATION
for himself There are but few new facts In regard
to the case, but what there is about the matter
win prove OF interest. 1t seems that Hosford
managed the affair very shrewdy, and calculated
his chances OF and failure very nicely as to
time, place and circums tance. The way he got the
money he has run away wit h Is as foll0ws:-Mr. N.
7. Beers, OF No. 3S Broad street, deposited with
Mr.. King checKior &c. 300 so as to be able to draw
against 1t later in the day. THIS check was certi-
fed. Hosford, receiving 1t, took it to the bank
and deposited 1t to the credit OF Mr. King. Another
check for something over $4,000, OF II.
L. Horton, he did the same with, and,
1t Is said, several other small checks, certified,
were also disposed OF in the same way. Later on
in the day he presented blank check to Mr. King,
which he requested him to sign, saying that 1t was
Tor . very small amount, needed to pay of u few
small ndeOtednesses incurred during the day by
the house. II was Just here that Mr.. Kings con-
fdence IN Hosford proved damaging Tor he signed
the check without asking any question. Mr.. Beers
money he had deposited his check ior with Mr..
| Kings house, sent his boy to the bank with Mr..
Kings check, which he had taken IN exchange
and was told tnat there was no money there TO
meet the check. He told Mr.. Beers this on
returning and the latter bade him go aud tell the
| King people to hurry up their deposit. He after
wards went up to Mr.. Kings himself and told HIM
! that there was no money to meet the check, and
stated that deposit had been made snort time
before to meet the expected demand In order 70
make assurance d0uby sure he and Mr.. Beers
went to the bank. The teller told them what he
had told Mr.. Beers boy. "Whyl' exclaimed Mr.
answer was that there had been, but that q check
| for $4,000 had been presented and honored. This
| back to Mr.. Kings office. hurried examination
| showed that the amount OF the check Mr.. King
had signed at the request OF Hosord was
represented in the ledger by the sum OF $40, just
$19 $50 less than the check bore when 1t was pre-
sented at the bank. 1t appears that Mr.. Hosford
got ahead OF Mr.. Beers boy when the latter was on
his way to the bank with the check drawn by Mr..
King in favor of Mr.. Beers by going through the Sub
Treasury building while the boy went leisurely
round tie way OF Nassau street. it was also ascer-
tanned that he had
with the proceeds OF the $4,000 check at White,
Morris X Co. and had attempted to get gold and
greenbacks with one OF the other checks at Law
rence's, in the Bennett Building, but changed his
mind.
There is one very peculiar side of this defalca.
ton, at least for outsiders. While Mr.. King and
Mr.. Beers were talking what ought to be done,
q telegraph despatch Was handed to Ar. King.
1t ran as Iollows:-
AUGUSTUS W. KiNG. 80 Pine street.
Keep cool viii make it all right in a week;
The idea OF man deliberately running away
with $4,000 OF another mans money, and then
coolly advis ng the other to keep cool ior week,
made all right, Is certainly new idea in defaca-
tions. But the despatch did not make either Mr.
King or Mr. Beers laugn in the least. Neither did
they cry; but IT made them at once think OF the
detectives with the hope that the latter might be
delalcator IRON getting full weeks start OF
them, which he evidently wanted, according to MS
The detectives are now working up the case, T.
Golden and Sampson having the matter in special
charge. They were intensely displeased yester
day at the publication OF the report oil the
deialcaton in the HERALD, alleging that II
had injured their prospects OF securing Hosford.
The latter's wife was called upon yesterday by
HERALD reporter at the house IN Jel sey where she
ana her daughter are boarding. She stated that
she received despatch from her husband ON Mon
day afternoon stating that he would not be home
for week. As TO where ne Went or where he is
she OF course knew nothing
Mr.. King yesterday refused to give the reporters
any information as to whether the deiacatlon
amounted to greater sum than that already
known; in TACT, refused to speak about the at
ALL Nor did he take the advice of Hoslord and
keep cool.n On the contrary, he was 80 excited
all day that when one OF the detectives called to
see him about certain matters which might lead to
clew as TO Hosord's whereabouts he was unable
to secure an interview. The excitement and con-
fusion that reigned in the office led many persons
to believe that the delacation was very much
larger than IL appears at present.