Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1873-05-03
Heavy Bank pefaloatIon.

THE ATLANTIC NATIONAL BANK, OF NEW
YORK, susPENDED-1Ts CASHIER A DE
FAULTER TO THE AMOUNT OF FOUR
HUNDRED THOUSAND DOLLARS.
New York Is excited intensely over an
enormous defaleation, which will cause
the suspension of the Atlantic National
Bank, in that city. The deiaulter is +.
l.. Taintor, cashier of the bauk, and the
cause Of his defalcation is speculation in
Wall street. A curious feature of the
atiIir is the deliberate conduct of the
cashier in disclosing his mis- leeds. The
scene is thus described by tine Herald -
About ha!f-past twelve O'Clock, Mr.. F..
l.. Taintor, the cashier of the Atlantic
National Bank, walked into the Gallatin
National Bank and asked to see Mr..
Tappan, the Pres dent Of the latter. He
was shown into the office, and both gem
tlemen greeted each other clvilly.
{" Mr., Tappan," sand MIR. Taintur,
calmly, sitting down, " have come to
tell you rather unpleasant news, which
may possibly astonish you. am cashier
of the Atlantic Bank and am defaulter
TO the extent OF S400, ,000."
Mr.. Tappan started from his chair. II
almost took his breath away that man
should tell such thing in so cool q
manner.
"You are defaulter - exclaimed Mr.
Tappan, "and to such an amount You
rather astonish me, as you say. But why
do you come to me with such a state
ment :"
81 come to you,'' said Mr.. Taintor
still quite impassive, because you are The
chairman of the Executive Committee o
the Clearing House, and wish you {,
take charge Of my Keys and of the bank. .
"Of course you have communicate.
these facts to the officers of your bank 2
SAID Mr.. Tappan.
q" Not a word Of this is known, except
ing to you," went on Mr.. Taintor. ''
don't wish the officers of the bank to eX
anime into my afTairs. Imuch Frefe
some higher power should do it,"
Mr.. Tappln's curiosity was excited Il
the highest pitch. He wanted To knOy
why the cashier came to him aud con
fessed such a terrible state of affairs. II
asked the question.
swell, You see," SAIL Mr.. Taintor
''Lhe Directors pay their visit to-day l.
the bank, and then some of the facts ma
come ou.. They probabay wouldn'
know the whole truth, but quite euOug
To put me into bad box. Now, | don
want any scene about, nor any reproaches
These people are old iogies, and it woul
be unpleasant. There is a much easie
way of fixing it-that your committe
should come up to the bank and make a
examination then you may zee hoy
things really are and verify my statement
That's the better way, am sure"
''But do you know 70 what you AT
subjeesing yourself by this confession :
asked MIR. Tappan.
"Oh, yes" answered Mr.. Taintor, Sc
am fully alive to ". As they say in II
papers, l realize my position. But u
best thing to do, should Judge, is
make an immediate eXaminat on. Ever
moment that business goes on in q
bauk is a moment TOO much now."
committee Of the Clearing House aceed'
! 10 his request, and, as a result OF the
labuTs, il was announced last evenl
=, that the institution was bankrupt al
would uut he abb to resume on Mond .
Tie facts were l. legraPhed t. the Com
trolier Of the Currency, who has order
the appointment Of a receiver.