The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-30
TIE ABSCONDING CASHIER.
Flight of Shute, of the National
Granite State Bank.
OVER $4,000 ABsTRACTED.
The Bonds Of the DefauIteP Forfeited and Largo
Rewards Offered for His Arrest.

EXETER, N. H., Jan. 20, 1879
Nothing definite has yet been ascertained Of the
whereabouts Of Mr.. Shute, the defaulting cashier
OF the Granite State Bank Of this city, and likewise
deaultng treasurer OF the New Hampshire Savings
Bank The last heard of him was In Boston, ana
where he went from that city is still mystery.
Some are oil the opinion that he has ned the coun-
try and others that he Is lingering in some large
city.
CONDITION OF THE SUFFERING BANKS.
The Bank Commissioners have just completed an
examination OF the AFFAIRS OF the Savings Bank and
find that by its books the amount OF deposits is
s4O1 s17 90 and its surplus $12 49, markings total
OF $4l3,ssl 03. They also find property to
the amount Of scoops 81, making the
amount distracted $120,65l 70. The Bank
can pay about seventy-three per cent on Its
deposits, with its own property, and about eight
and seven-tenths per cent additional upon the
payment Of the treasurers bond of $685. O0o making
total ofabOut eghty-One and seven -tenths per cent
In the above estimate all the stocks are reckOned
at par value, which Is little less than their real
value. No account Is made of Items Of interest due
the bank upon It's notes. which would, perhaps,
amount to 1000 or $1,000. The investments of
the bank are excellent. Every note ana security
is believed to be entirely good. All concerned in
its management, save its defaultng treasurer, are
men Of character and ability and up to the time OF
his leaving the treasurer even had the entire con-
fdence Of the community.
sHuTE's DEFALCATIoNs OVER FIFTY THOUSAND
DOLLARS IN THE GRANITE STATE BANK.
Later developments show the losses OF the
National Granite State Bank to be greater than at
first reported. 1t was believed that the amount
embeZzled from this institution would not exceed
forty thousand dollars; but discrepancies have
since been evolved which, rs am informed by one
OF the bank directors, Will bring their loss TO fifty
thousand dollars or more.
THE BONDS OF THE RUNAWAY CASHIER.
have to-day been able to get access to the d.
faulters bonds which show that the Granite State
Bank has sureties to the amount OF $4,000: The
Shute defaulter's fatherl. Harvey Kent, Isaac $.
Shute, John +. Moses. Luke Julian, Joseph Getchell,
Conner. The bond Of the Exeter Savings Bank, for
the amount OF $35,O0O, IL appears was temporarily
the BANK Kept in the bank vault Tits trunk Was
opened with u duplicate key by the abscOndIng
treasurer and the bond extracted, but the require
be deposited in the Office OF the Secretary of State
at Concord, and also entered on the books Of
record OF the bank. leave the bank secure for
although it has not been ascertained that the Secre
tarys Office has copy of the bond, yet It seems the
criminal failed to destroy the recorded copy In his
own handwriting In possession OF the bank This
names OF Nathaniel a, Shute s: ": Dearborn, VII.
Gordon, G. A. Wentworth, William A. Stickney,
Edmund FL liot, John J. Bell, J. q. billiard.
HOW HE WORKED MATTERS IN GENERAL.
funds has been going on an indefinite time and it
Is believed that, being the managing officer OF the
two Institutions when examination OF the
affairs OF one institution was being made he pro-
duced the securities OF the other to make good the
deficits, and Uice versa. Shute had a salary az
cashier OF the Granite State Bank OF 81, 200 year
and house rent, and treasurer Of the Savings
Bank OF $780, besides a private brokerage business
from which he nctted about fifteen hundred dollars
annually. Yet with this comfortable income the
temptations OF stock speculations were too much
Tor his weak nature and he cast his die and lost.
Each OF the suffering banks has offered 81, 500
reward Tor Shutes arrest and conviction and de-
scriptions and photographs Of him have been sent
all over the world.