The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-08-10
A BANK TELLER ARRESTED.
WILLIAM III. II. BENNETT CONFEssEs
HIMSELF a FORGER.
The Robbery Of the Dcpositors OF the Me-
chanics' and Traders savings Bnnk-Mis-
apngemcnt OF n Broken Institution.


apngemcnt OF n Broken Institution.
When william ]. Best took charge MS
receiver OF the suspended Mechanics and
Traders Savings Bank In the Bowery, in July
last, he found that tho books showed misman-
sgemept, and induced q suspicion OF more than
carlessuoss on the part OF some OF the officers
and trustees. There was a serious variance In
the banks ledgers, and numerous discrepancies
were discovered In the other books. After
patient examination OF 1900 depositors' puss
books, the receiver obtained sufficient evidence
on which to charge William H. II. Bennett, the
paying teller OF the bank, with forgery.
bennett was arrested by Oncer BloojRood. In
richlv-furnished rooms At 43s Grand street, on
Monday, and was arraigned before Justice NOR
gan In the Essex Market Police Court yesterday.
Mr.. Best appeared, and charged him with forg-
ing three drafts on the bank. purportlng to have
the signature Of William d. Lynch attached to
assisted In posting up the dealers ledeers OF the
bank, and had been drawing money on accounts
already closed, but which by skiliul erasures he
had sde TO appear as open. William u. Lynch
had his account closed IN October, 1874,
eresing tn. figures in the debit column OF the
dealers ledger, made II appear as though this
amount remained to the depositors credit In
the bsnk. Bennett subsequently drew out $3.50
In Lynch's name, In three installments Of $50.
$500, and 600. lie left a balance OF 1894, 80 as
70 pTetcnt a odlhnCluH OF the Oehlef WIN tno
general bank ledger. by which the fraud would
have to be exposed. The accounts of other de-
positors were tampered with In the same way.
Bennett VINO II young man, confessed his
guilt. and was remanded to the 1ombs.
Receiver Best Is to continue his investigations
into the msnagoment OF the bank, in the exoec-
tation OF making other discoveries. Bennetts
foreeries, so far AS ascertained, amount TO about
April, 1852, and was opened for business In tho
beginning OF the following May. by an
m
and In 1893 they were still further re.
diced to twenty. The trustees filled all vacsn-
nation.
The receiver has ascertained from the books
Its existence, or from 1859 to 1885 inclusive, its
expenses were $4,000, and that from 1857 to the
shss TSs Ur wa. 'sn an ssrs
ordinary sum for Uank, with a capital OF Its
extent to spend for salaries and incidsntai ei-
Sadi"s @ All the bad iaVss.mSn,s IaRs S%s'' vefs re
found wnere the bank had loaned tl20,OoO In
1856, TO y. W. Joslyn Co., Wall street brokers,
pSnv es security The stoc S Mas ala in so
1872 for from $4,000 TO $4,000. The loss on the
loan, including the Interest, Is about fl3O000.
sli n. Josiyn & Co. are bnnkrupts, and It Is
claimed that their assets chiefly consist OF loans
panic.
be bank invested over half a million dollars
IN southern securities Inese are Worthless
but the receiver hopes to recover part OF their
cost from the trustees. In few DAYS he will
make report to the deposiiofs OF the cost OF
tho a sets OF the bank and their nominal and
present values. lie xpects 10 pay a dividend in
September. lie has the money for the
because o: forms with witch the law law
compels bin to comply. The total liza
bilities are about fliOO,000, while the assets
are OF the nominal valus OF about tl.50O.0O0.
The dealers ledgers show tnat the bank owes
depositors $1,000 more than Is credited to tn em
the general ledger. The has a.
discovered how this discrepancy was made.
He thinks that the depositors will get at least
seventy five per cent. Of their money, aud that
by careful management they may get eighty or
eighty five.