The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-11-01
NOT THE MAN FOR MAYOR
AUGUSTUS SOHRLL'S RECORD AsA rRUn-
Tkk or PRIVATK FUNDS
Wew the usiea Trw.s Ce-.p..y was r,s-se-~a
81 ten1s,oeo wsue he wss Acti.s Fres,ae.N
-Alse hew the ~ nahassnn Cluh - ~ N m "a

uew tie Usiea Tru.s Ce-.p..y was r,s-se->a
81 en1s,ooo wsie he was Aeti.s Pre.sse.s
-Aise Aew the Msahs,sss Cius was Rehbee
After the worthless old iron safo In the
Manhattan Savings Bank was robbed of
900 on Sunday last. and the groas oare-
leesncas OF the officers In lntrustinR the com.
bination TO feeble old janitor becamo known to
tho community. tnere wore some persons who
Expressed astonishmont that Mr.. Augustus
scholl. the leading man In the management
should have 40 neglected tho important trust
oonndcd TO him. In business cirulos. where
tho Union Trust Company defalcation and
suspension are we'll remembered. his careloas-
moss or incapacity In the present Instance are
considered to be characteristic OF tho man.
Gus Soholl." said down town banker. yos-
terday. gives tho lie dlroct 10 the old adaxs
that man Ia never too old 10 loarn. This 10 the
third institution with which he has been oon-
nected In which there has been stealing rough
incapable management. That Union Trust OK
6 on nIIS Sst Ssa %on Any hsSs Sshsr nan hss
,s on n9enn S, ] sosm t2 havoi madoiany Inn
bank bursiary was IN the iai Of 1873, and and was @
Papi % few % day. H SeSrs SaS coOis 'Ss ES
lailsd. President froth CHAM. the head Of h:
cSc SSOO Ss ssE dsSs0Bc Bcc.Ass AssS: so
President and general IN an sser Of the compsny.
Copimodore Vanderbilt was one q the tFustsss.
irosd scSS ss oHg So%pisssg ss s Il" ne KIM pHS
Will have him In hand II he 10 made MsYor.
When ths @ sss All sreci isPSrd. ~ bssss s
ugly rum ors Affecting the solyency OF the Trust
scn! 81 so" 1ss and on Fssy sssn q the S15. IN
on that day Charles T. Carlton. Secretary
r. tho hs SnGn ss.i Irui n ct2S%p"py tSS wss mss
tho run had becn kept up ali day, Mr.. Bchel
ipyestmen,s are OF such a chsractcf as TO on.
able US 10 realize readily. Every deposltor oNn
general panic am utterly unable 'USS to account
ior the rumore anoat Affecting the stability OF
wSS sns
o. ti00. 900, was . fugitive from Justice and the
hoked on the bank doors Il was learned that
part OF tho "conseryatiyo business af the bank
who had refused TO pay the money on domand.
Mr. sohe was as much bewdered Mt the hight
suspension as he was ON sunday morninS last.
!ESS !ES %nS.;SS %SHGiSnsSS fsis dOYS or ,hS Moor q
Friday had narrated the the solid solid" character nS %
OF tho company and the nature Of Its invest
did not know tho companYs condition or how
much had been stolen and lost In Wall street by
MS secretary. He thought that the steal was
receiver was appointed for tho Trust Oom-
sccrSsry had spent % ms was cSaTaod
with 100000, but somebody In tho bank hap
psssncd pssn ned 70 look IN the safe one day and found
t20 900 that had been overlooked.
=, Receiver Wesley was asked In his invostiga-
tions how 1t was that Carlton could have taken
inception OF his fraudulent practices dates back
at lo9st fouIE, years-l1 fact. since the time he
hitting securities To- them which he subse-
dnsn'y nssd use IN speculation instead OF putting
A., " But how could this happen without deteo-
tonf' wns asked.
. because the management OF. tho companys
affairs was undoubtedly very loose" was the
Ono OF tho trustees said after tho company
been here and Horace +. CLARK were alive. not
a single dep9si!or would have applied for his
Tho 9bss9ndIng Secretary was not captured,
never dld howovSr and dod abroad S Anew" FEW years
sr @ owns nS TSsSs Ho, aTetbe 5 ana ped out o.
lost by loose managene1t| and the 1 com pS9a ooS1
resumed business but there are those among
.hg .hg trustees who will not vote for Mr. Augustus
MIR, Augustus schell was Treasurer OF tho
Mnnhmhn, Club six or seven years ago. and
scholTs duty 10 look after the clubs finances
,rSs,. nnd n"se deposits OF ld all moncys n;
honors Of tho oflce, and loft lis duties
TO young MIR. Jones, Az. Mr.. Schell did
nut loci any rehponhlblllty Mr. Jones dld nOt
ueen u necessary To- assume any either, and he
Tho present steward OF the club says that he
doesn't believe that $40 900 was lost. III thinks
L may have boon t2.OOOor t3. 900. Tho steward
then explained that under the present MANAGE
mcnt no clerk or employee could steal more
thhn one days receipts. They must have
managed different then" he said. Mr.. Bchell
could toll you how i wns. He WIS treasurer"
The Manhattan Club WAS richer then than 1t
now j.. and the loss was cheerfully borne. Mr..
hrhel goes there regularly. but he long ngo re-
tirod from tll" oiilco OF treasurer.
In all tho doilcits and defalcatiOns with which
his name has been associated Mr.. Schels own
lussrs have been triilinR. He bears the lOssos OF
na