New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-07-09
A BROKERS FRAUDULENT OvERDRAFT


THE MECHANICS BANKING ASSOCIATION AND THE
THIRD NATIONAL BANK INvOLvED-S13G926
ovERpRAwN To TAKE UP $125.O00 IN GOLD
DIsAPPEARANCE OF THE BROKER ECCLEs.
Following close upon the announcement of
the Rubino failure in walst yesterday came the report
that there had been heavy defacaon involving the
Third National Bank of Pinest. and the Mechanics
Banking Association Of wallst. The bank officers at
neither place. however disposed to impart any in
formation but claimed that there had been no defca
ton no embezzement, and embarrassment OF their
respective institutions. 1t evident however that
they were trying to conceal something and close inquiry
revealed the following facts:
r. II. Ecces, a broker and member OF the Stock and
Gold Exchanges, doing business at No 26 BrOadst is
depostor with the Mechanics Banking Association. The
custom of the bank TO allow him liberal cericauon
On Tuesday the officers allowed him TO overdraw his ac
count 1926, expecting that it would be made good at
3p H., at least before the bank closed This over
draft the shape Of the certhcation of two checks
one SOS 500 and the other for $S7731. both made
payable TO the Third National Bank. These checks
were enable Eccles to take in gold which
he had hypothetical with the Third National Bank, and
Eccles stated that he had paid this loan the
gold should be sold and the proceeds should he used TO
meet this overdaf. Ecces sent his errand boy to get
the gold the Third National Bank people refused TO
deliver to him. demanding that Eccles himself should
come and get it, Eccos did not and as lie did not ap
pear at the Mechanics Banking Association the officers
became alarmed and failing to find him, demanded that
the National Bank should either give them back their
certified checks surrender the gold This the officers
Of the Third National Bank refused to do stating eat
they intended to hold both currency and gold until the
nnal adjustment of the troubles.
Search was made for Ecces but it learned that he
had left city hurriedly ostensby for Toronto, Can
ada His office locked and his two clerks had disa
peared and could not be found. Teegraphc dispatches
70 Toronto brought replies Ecccs had not been there
AL efforts to find him proved unsuccessful, and the
Mechanics Banking Association came to the conclusion
that had been deliberate attempt TO swinde Them
They have therefore begun sut for the recovery OF
their money, and have served attachment on the
Third National Bank.
NJ +. Reading cashier Of the Mechanics Banking AS
socation said deprecatory tone yesterday that he
wish have anything said about the matter as
would hurt Mr.. Ecces's credit should he return as
they expected" to-day. He declined 10 give any in
formation whatever which would throw light on the
matter The sincerity Of his expectations to Mr..
Eocess may be discovered from the terms of his
affidavit which is given below.
Conrad Jordan, Cashier OF the Third National Bank,
was Ia consultation with Detective Sampson of the Stock
Exchange the best course TO be pursued Mr. Jor-
dan declined to give any information and said that If
ANYTHING were published would Illustrate their efforts
~ of the largest consraees ever formed
IN Waist"
The following is copy Of the affidavit upon which the
money attached:
The National Mechanics Banking Association agt F.
H. Eccles, CITY and County of NeW-IOrk-M +. Reading,
being duly that he il The cashier OF the above
named plaintiff which is a corporation tnat sufficient
oi action exists III favor OF the pIntin against me
defendant H. Eccles, the grounds Of which are as fol
lows the 9th day Of July 1870 the defendant over
drew his account IN the plaintiff to the amount OF
$l36926 SO upon his promise and agreement win
plaintiff that ne that wo" Say repay that no s same ovePa
was made in two several checks both dated upon .
that day. s $40 % and the other for Ss779 49,
and made payable TO the order OF the Ihi[d Ma;
tonal Bank, vino duly DdOsed the same and which said
a.L. have HOO rAi1n
that no part of said oyerrait repaid paid by
defendant 10 plaintiff, and the whole amount OF $50
go So with interest thereon from jury d. 1879, is
due and owing from the defendant 10 TINS plalntin
That defendant il resident OF this Slate and had an
Office at No. 20 Broadst this city, hut that he cannot
b. ;Ound within this state. That as tins deponent be-
heyes defendant has departed from this State 10 Can
ada with deaud his creditors and the grounds
OF his belief follows That at the time or his over
draft as aforesaid he mad hy pohecaed with the Third
National BANK the sum of ii 5000 in gold com OF the
United States as security for loan Ol money 10 an
curing said checks a. aforesaid certified by plaintiff
and paid said Ecces stated that the same were ~ pro
cured pay off said loan and take up sand god and tna
the amount received from SAID gold would he used 20
repay plaintiffs that thcreupOn said Ecclcs caused
LIZ erand boy 10 present said checks to the Ihlrd M
tonal Bank received said checks hut refused to de-
liver said gold TO The boy, but demanded that said Eccles
should personally appear ana receive the same hat sdld
hoeies ana not rIe ad himself E thes 'h s"d
Information received that he had 10 IOroutO
Canada That his Ohce found closed and locked his
could not be found, and that his Office has remained
closed ever since; that said Eceles stated mat
not " APPEARED that icicgraHis sent to Toronio
have been answered and information received that he
And depOncnt further says that all efforts 10 ind said
Eccles his whereabouts bis clerks have been wholly
unayahng; that plaintiff has commenced action In
this Court against the defendant AMI has issued sum
mons herein.
Franklin Chandler Of No. 151 West Forythirdst. and
David NJ Thurman Of No IL East Thrift st arc
sureties 5000 that If defendant Judgment
the attachment be set aside the plaintiff will pay COSTS