The New York herald., 1875-12-31
LARGE DEFALCATI0N IN BUFFALO.

CITY TREASURER BoRK ABsCoNDs, LEAVING A
DEFICIT or QUARTER or MILIIoN-RE-
GRET AND SURPRISE IN BUSINESS CIRCLES
HIS EMBARRASSMENT CAUSED BY HELPING
OTHERS.
BUFFALO, Dec. 80, 1875
The rumor upon the streets this morning that City
Treasurer Joseph Bork vas defaulter the amount
OF $500, ,oOo and had absconded, created as great
sensation among business men hero did tho
failure OF Jay Cooke Co, in Wall street. The
rumor proved true and crowds OF people beseged
the banking OF Lyon, Bork Co. to get nforma
iion concerning the matter. Mr. Lyon, the senior
member Of the nrm, could give nothing definite savs
the fact that there deficit OF $500 900 in the
accounts Of Mr. Bork with the city. Whether the nrm
had suffered he could tell but thought best
10 suspend business until Monday in order TO have
time TO look into the matter. Accordingly the bank
was closed at eleven o'clock this morning and
PAYMENT CHECKS INFUSED.
Mr. Bork was seen in the city at nine O'Clock last
evening" and IL is believed that he has fed 10 Canada
A HERALD reporter called Mr. Henry W. Box. Lyon,
Bork Co attorney, and, in reply to inquiries,
informed that Mr.. Bork recently made general
signmcnt for the benefit OF his creditors without prefer
encc the assignecs being Mcssrs Henry W. Box, John
McManus Alexander Martin and George Badus. The
City Clerk r. D. Ford, showed your reporter the
two bonds given by Mr.. Bork as City
Treasurer which bear date January IT, 1874 for
$175 and have the signatures OF the following gen.
tlemen surcties:-James s. Lyon, H. W. Box,
Charles Z. Young, David Bell, James Mooney, Clifford
A. Baker, Jacob Davis John Irlbacker, s. D. Collie,
Alexander Martin, Joseph Kiauss Charles Schwartz,
George Baldus Edward Hager, Francis Handel, Mat
thas Holfelder, Sebastian Ebert, Jacob Korzclius,
Thomas w. Poye.
Mr. BoRK's STANDING
in this city has always been OF the very highest in
financial circles, and In social he beloved
by everybody The fact that he president OF thr
different organizations atests bis popularity
than mere assertion Among other projects which his
enterprisng spirit entered into tho very audabe
conc OF providing cheap homes for the me-
chanic and laboring man. large plot of ground
situated In the suburbs Of tho city
purchased by him In the spring Of 1872 and he mme-
diately commenced the erection thereon of cheap yet
comfortable dwellings, These he sold the poor OF our
city, and only required small sum per week In pay
mcnt therefor. When times were dull and the occu-
pant was unable to his monthly stipend Mr.. Bork
generously said, "wc do tho best you can. and when
you get able pay IT." Besides this he has frequently
put the meat upon their tables and kept many from
starvation when hop has been refused them all other
His failure Is mainly attributable 10 the neg
ect OF many firms in this city, 10 whom he had lent
A HELPING
to meet their obligations although Is reported that
he confessed to having carried a system OF defaca-
ton during both terms OF his Office by using leash
on hand" his individual checks ON Lyon Bork h Co,
bankers Tho city will not suffer, MS his bondsmen
ample security. Among the business In this city
there a universal expression OF sympathy His liza
blties said be nearly II not quite $780, ooo and
his may amount nearly 5000 0oo The city is
short really between $500, 900 and 100000.