Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1877-02-14
THE MONTROSE DEFA UTTER.
AsToSIsHMENT OF HIS TRUSTING FELLOW.
cITIzENs-THE AMOUNT OF HIS PEcu.
LATIoss 800, ,0O0-HELD IN NEW YORK.

LATIoss 500, ,0O0-HELDI IN NEW YORK.
The Scranton Republican Of Satur.
day says that the news of Nathan
l.. Lenheim's enormous defalcation fell
upon our neighbors of Montrose, Sus.
quehanna county, the other day, like
a clap Of thunder from clear sky, lie
was young man who moved in the
best society in the place, apparently a
devoted member of q church, beloved
and esteemed by all who knew him,
the cashier OF bank in which the
wealthest men of the town were inter.
csted, besides being well.to-do himself
all this at the age of twenty.four.
With such brilliant prospects before
him, he dashed them to the ground in
n single day, coniounding the com.
muni;y IN which he lived, and lett the
people of the place almost panic.
stricken.
HIS QUIET FLIGHT.
But few days since he left Mont.
rose without stating word of his
affairs TO any one, and week ago to-
day he was arrested in New York for
presenting forged note for the sum OF
$4,000, to be discounted at the import
ers' aud traders bank in that city. The
forged note was alleged TO have been
drawn by b. I. Stevens, and endorsed
by Mr.. 5. Kestler of Easton, who is
known TO be worth at least 81 900, 600.
Fortunately, however, the bold trick
was detected, and the forgcr taken IN
charge by the authorities. The receipt
ofthe startling news completely shock.
cd the people Of Montrose, and especial.
y the stockholders ofthe First National
Bank, Of which Mr.. bcnheim was cash.
ier. Accordingly an investig ,tion was
made, and 1t was discovered that his
bank defalcations reached the enormous
sum of 500, 900 Of money be had squan.
dercd in various ways. All efforts to
ascertain how he had invested this
plumber, or into what channels he
could have directed it, have Sc far
proved fruitlcss, and this portion OF
the transaction must remain mystery
until the dark sequel of tho bold crime
is revealed. OF this amount. $4,000
had been forged on the bank, and the
rest was taken in various ways, for
Mr. Lcnhcim had full control 10 dis
count notes and transact other business
oil tho bank at will, and apparently
without consulting any of the officers
Of the institution.
WHAT THE BANK WILL LOSE.
We have asccrtained, however that
the deiaulting cashiers bond is good
for the grcaterpar of the money stolen,
and that the bank will lose only
about $4,000. The confidence of the
people in its stability is still unsbakon,
and up TO Thursday noon there was
double the amount Of money deposited
that was drawn out. On Wednesday
last the bank was closed for an invcs-
ugation and for the adjustment OF
matters that had been dcrangcd by the
sudden disappearance of the cashier,
but II was opened yesterday, transact.
ing business as usual. The stockhold.
ers have given their note for $4,000
to replenish the depleted treasury and
meet present emergencies. They are
oil men Of sound financial standing,
and no extraordinary run is anticipated.
In fact, one party, to show his faith in
tho stable character Of tho conccrn,
deposited $1,000 in il on Tuesday, and
Others have testified their confidence
in II in similar substantial manner.
Tho liabilities are secured BY sound
notes, and no such thing as failure is
expected.
STANDING OF TnK BANK.
The First National bank Of Mont.
rose camo into existence about two
years ago, and ever mnce lie inception
Mr.. Nathan l.. Lenheim, the forger, has