, 1873-04-27
The Atlantic National Bank, Of New
FORK, Eicaimized for
$eoo,0e0.
The Entire Amount Lost by the Cashier
in Fancy Stock speculadons.
The Nest Se|f-Possessed Rascal
in the Annals of Crime.

preaching air. Tappan, President OF the Con1i1see,
handed him the keys OF the safe and vaults OK the
bunk, eaEtng he wished to deliver them up. MI.
man, very much astonlshed asked him why he did not
deliver them to the bank officers. Mr. Tainter rc-
plied "No want the Clearing House Committee to
go at once to tho bapk, and examine its Affairs
Ee was SO perfectly cool and collected that
A1r, Tappan did not know what to make OF
him. He inquired what the matter was "Detalca-
ton, was Ito laconic reply. "Those?" asked air.
Tsppan, still more astoniEhed- "anne" was inc
plzcId ansver. Ho added civil go up with the
COMMITTEE and assist them to the best Of my abitS'
have no intention Of running away" hr' laplan
i,,nediately summoned the Committee and sent them
10 the bank, II Naseau street.
Meantime the Directors were holding their meenng,
and tho entrance of thu Committee sston1shed them
pren mora than tho Cashiers Wait did air. Tappan'
1-ha Committee stated the object Of their coming,
and the Directors listened in blank surprise. MI.
Ta.utcr, having hung up his oyarcoss anu na''
announced that he ready to make o1PAana1i'1''
a WAC asted the amount ct the defa1cafaon anu nc
o1iea coo In gold, s16o 600 IN secur1ues
left in the bank safe keeping and tho REMAINDER
securities Deposited rs collateral" 49, .,a.
How long has this been going on ?" was then
Have yon anything eit !" asked OF the Diree-
.So,n answered a1r. Tstnter.
.That h.1 bcsome ot III"
IL. soathwortb, the President, vas SO Affected at
this disclosure That he burst into teara The Dre;.
tors and COMMITTEES retired to private oheo & 70 a%et @
fhc arrival Of Mr. Tappan, and the Cashier going oe-
hind the desk went on transacting busness ]nss as
nothing had happened When the COMMITTEE leaspea qsr
M a1s rappsn's gs arriya tho Committee assisted by Nj.
egg the National Bank Exsn1neT began .;o horongh 5
nv Thep were materially aided in thcir
Investigations by the defaulting caahier, whose ,5t
ronlness under tho circumstances was pef1ecuJ
suehaptipe He moved about here and there, looking
uo evidences of LIS crmc and pointing taem out With
s n sSszeS 81 5esas Us
Led assets liabilities a q, sa1
$4,000, leaving the deficit as regards 5 g31. 99t.
est,ted tc at 6oG s2sGg .}n ihe tbe
ectrai decit tco4 ooo of which the Cashier aesno"
eaccs E.ytrg ernbezzled s4oo, 900.
6as dh # sp cprsney was Il
he tocgapbed back appointing NJ Nsss meGresa Tn,aa
obas2 c ' efheP hepssss freT
holders loze nll their investment and surp!us. LIZ t
dopcstors receive 50 per cent wae I ,nose w.
The clcaring-H Committee are especially severe
n, the Rank officers They Say that nothing snofI Oh
te prossost careiessness would permit such an In
nenso defacaaon to Be successfully carried over such
:pse DIRECTORS made application United States
Commissioner Osborn for warrant q arrest 1gahs1
s Iesn:s5 @3s es sne t cas
bis prisoner to the Aztor House for suppss ne soGaco
slta up In Ludlowstreet Jal- 1aanlet aa aasaea -
ssstdsai 81 ,nu sid oneba ana Is ono Of
ii: a. aSs 3 L a II as s'9'sa ss
Ills being placed in the position Of Cashier o. .ne
.nf alsed faranaS pa Sfisss he
about 80 years achss o. age nbonuh M
esaily haye been living in this city during the gas
three months He has alwaSg been - eSsoy s III m
Tour Correspondent had an interview with him to
S:et IN tho course Of which he offered the fono"ne
When took charge found the bank IN l. yer,
weak and Impoverished condition; formed the ide:
CT It. aud dia IN faa
good pr:ccs. then tried Pacific aiaa sna .uea l "cn
did not intend to make s cent Ss. dor sa T T
The stlantic Is one Of our Oldest banks. II was Or
r.nszed under The State law, and one OF the mrs
70 take advantage Of the National banking Law. II
circuIstion WIS 1900 It's stock Was divided int
aboye that PRICE being in good demand: 9. Hiltor q
crtner present Secretary Of STATE Is one OF ~
<ery little business through the Clearing House To-
come time His expression was that it had ruste<
or" Tbs failure creates the greatest excitement
the city. n..,nx.,
NEW yoEn, April -Kumors beean to circulate M II y
4ency Of the Atlantic National Bank i Nassau street
The bank originally started twenty yeas' san sg9 as
;afs passed Ry CONGRESS ss The esps5 G. S5 gS1 S
The Bank susaInen losses eoop. after its open
ing by the depreciation Of the securities which 1t helt
rs collateral for loane and which not redeemed
conseouey It has nerer had the reputation Of being
strong, and many bankers and business men IN III
street d not even know tnat saen a ta
House. which first advised Of 1ts condition to-day
although the Clearing officials had not resardse
the bank strong, they we1e not prepared for th'
1t about O'Clock, F. L. Tstnter, the Cashier, step
z,ed 1n and after asking for Mr. Tappan, Chairman o.
he Clearing House Examining Committee. announced
that the bank IVES insolvent snd that he was De
from tho funds and lost in stock speculstiens
2s TapPan who was President +, o. aton,,5a tne ~
Il !R 1sTsap N,G sa msas ss
for examination OF the bank and It's affairs on thf
part Of tho Committee which II u a. 40
banks and the public. !ainter the cashier told TIP
p.n tst he had come to hin because ie felt more kt
se 1isbed to I'D in whateves investigation Iii ght TAX
place. The reason Of tho banks embarrassment
low depostors gathered about tho doors r.ise Ii.
crJ for their money. One customer, who had dc
1s and anef 1a2 or
short tine concerning the h htbeiytng stn of Et. tn
wien they IaeTg that they we're hopeless5 insovent
but with that and one or two other tr1fnB exceptions
erc to have made N sraminat,on, in Tho afternoon
OF the bank and its secur1es, ut the request Of tn
sden finding TINT osF sa sss ges t ,sa.
cred, and lo1dly protested that they hat
not entertained ths slightest suspicion % 9f the bank
had zlwsys examined t.s securities carcfolly, en-
had not found any deficiency sz:sting either in then
or In the caa1 The Examining Co1nnittee, conKistin
Of S1essrs. Tsppan, Leveridge, Hayes, Hunter, an
Perkins, gnre fullest details in Their possession
through the secu15nes carefully, throwing ou
the bad, and hga1ed 1p as nearly H. as poas a
arriving approximately at Tia aasets- Nlile the
In this work 1esngeE US s sent ior
arran on which 70 hold 1nt i 1 ~ Tas 1s,s c,nd
ion Of sd.i.a- Tho Cashier was not informed {
This movement, although he undoubtedly e.pecle
It. Cnited 6t.tes j@pusy Marahsl PurV1s arF5re
nbcut S o'clock in the> bank and axENe
orders from the E1ainesa yhen to make y the afres @
At nbsrit Z, the work finished and It Was 1oun
tnst the deicit independent of tae capital and SUI
lus anonntsd to 500 o9o ABOUT siseooo o. tha e.
Gaahier was not responsible. About $42a ,e)
of Losses .nada by him in his 6toc
s2cculsaonB. IT, Eas foiEd Tint, besides uEin