The Superior times. [volume] (Superior, Wis.) 1870-1912, 1873-02-22
A DEFAULTING CASHIER,
Ihe Funds Of Two New Hnmps h ire
Banks EmbeZzled.

| EnlbeZzIed.
| Correspondence of the New York Times.
EXETER, n. H., January 25.-This
wealthy, staid and conservative old
town Is now in aremarkable state of ex
cltemert, caused by the discovery of a
defalcatlon so astonishing in every
| particular that many even now refuse
| to credit the report. Mr.. n. appleton
Shute, the cashier of the Granite State
National Bank, left bis home on Mon
day morning with the supposed inten-
| ton of taking the 6 o'clock train for
Boston. Nothing was heard of him for
few days, and he was man of such
punctuality and methodical regularity
that fears were aroused of some acct
dent or of foul play, no one even for a
moment suspecting anything criminal
IN his sudden disappearance. While
dIscharging the duties which devolved
upon him as one of the trusted officers
of the bank, he has been engaged in
the brokerage business, dealing largely
IN railroad bonds and other speculative
securities, not only for himself but for
the bank and outside parties. He has
also been sub-agent of the Northern
Pacific Railroad, and when drawn
upon by Boston brokers the drafts
were always uponN. A. Shute, Cashier.
The last purchase made in Boston was
on Wednesday, when he visited bank
ing house in State street, about 2
O'Clock IN the afternoon, and purchased
bond of 81, 900 of the Chicago, Bur-
llngton and Quincy railroad, rendering
III payment therefor one $50 five.twenty
bond and 96S gold. After the trans
action there remained to his credit
about $3.50. 1t seems that he did not
take the cars, but left Exeter on foot
On Tuesday, Mrs Shute sent to the
bank So, 900 worth of registered bonds,
which he had left on the bed. Even
no suspicion had been felt by the bank
authorities. On Wednesday they be-
gan to overhaul the books and found
every thing straight. Thursday deficit
of $50, 600 was found, which on Friday
increased to 1920, 600 according to one
report. Another story is that the de-
tclt IL the Granite State Bank amounts
to from $4,000 to $4,000, which is
about the amount of the surplus of the
bank. \ large amount has also
been extracted from the funds of the
Exeter Savings Bank, of which Mr..
Shrte has been Treasurer, but how much
has not been fully ascertained. His
bonds given as security to both banks
amount to &55, 1000, though there is a
rumOr that the bonds were not renewed
at their expiration three years ago.
The bondsmen ale all men of abundant
means. Mr.. Shute is about forty years
old; a tall man, rather slender about
five feet ten lnches in height; of dark
complexion, and quite unobtrusive
bearing, and has been Cashier for
the last ten years. He hasa wife and
two children, who have returned to her
fathers 1t is learned that Shute has
been engaged in speculation in fancy
stocks, and to some extent in coal
stocks. His ill-luck in these transac-
lions, and the loss of private property
to the amount Of several thousand dol
iats, doubtless led to the drawing on
the funds Of the bank, and his subse-
quent greater embezzlement and flight.
His private transactions with individ-
uals appear to have been square, and
money and other valuables deposited
with him for safe keeping in the bank
vault are found untouched.