The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-11-25
BANK OFFICERS ARRESTED.
ACCUSATIONS or CONSPIRACY TO DE
FRAUD THE DEPOSITORs.
Five Directors OF the state Bank Of New
BrunswIch Compelled 60 Give Bnil-Tho
Averments OF those who nre Compiainnnts.

Five Directors OF the state Bank Of New
Brun.wIek Compelled 90 Give Bnii-The
Averments OF those who nre Compiainants.
NEW BRUNSWICK, n. j., Nov 24.-The ar
rest OF Abraham Voorhees,. Joseph Fisher. Jr..
Frederick Stats Sr.. and ex-senator Jarrard.
directors Of the defunct state Bank at New
Brunswick. upon charge OF conspiracy to de-
fraud the depositors is the topic to-day. Five
years ago the bank. which had been considered
one OF the soundest. as 1t was one Of the oldest
in the State. closed it's doors. 1t was announced
that its entire assets had been made away with
by a conspiracy between Greenleaf W. Apple
ton. the cashier OF the bank. and Robert N.
Woodwork. President OF the New Bruins
wick Carpet Company. Appleton re-
mained in New Brunswick for some
time after the suspension Of the bank. without
any attempt being made by the directors to
arrest him. He and Woodwork we're at length
indicted. and he fed TO England. where he has
remained since. He is OF a literary turn. and
has recently published n novel in London.
Woodwork voluntarily returned from New
York to New Brunswick TO stand his trial in
1874. He was defended by Charles W. Brooke
Of New York. and was acquitted after pro-
tracted trial. in which the State Prosecutor was
assisted by eminent counsel.
The New Brunswick Carpet Company whose
stock was above par before these proceedings.
was thrown into bankruptcy upon the applica-
tion of the bank directors. who charged that II
was heavily indebted to the bank T. n. Miller
Of Newark. who was appointed receiver OF both
bank and carpet company. reported recently to
the Chancellor that. instead Of the carpet COM
pany owing the bank the bank was heavily in
debted to the carpet company. The carpet
company has been recognized recently by Mr..
Woodwork, and Is once moro in successful op-
| GRAFTON under the name OF the United states
| Carpet Company.
The State Bank remained closed n short time
| only. II was announced that some Of its
| wealthy directors had advanced money enough
| 70 enable IL to resume business on sound
| favorable auspices. George Conover, who had
been cashier before Appleton. but had been dis
placed on account OF his disslpated habits. re-
sumed his place. The bank ran on until about
year ago, and then, II once more
ana So Newe OF New B5Tns
| at first that the depositors would be paid in
| full. but time passed. and the depositors were
| Disappointed. Al length they began TO move
| Counsellor Brooke. who defended Woodworth
| and Mercer Beasley OF Trenton. were engaged
| TO represent them In October last an order
| was obtained from Chancellor Runyon. direct
| ing tho receiver Of the bank to show cause why
| be should not at once turn the assets oithe bank
into money TO satisfy the claims of its creditors
| The purpose was to force the receiver to dis
| close at once the absence Of any appreciable
| assets. In order that suits might be brought
| against the directors for the deficiencies thus
ascertained.
| Inc county OF MlduleseN. nhNlnR n deposit IN
the defunct bank. the counsel Of the Board Of
| Freeholders. Mr. Robert Adrain. and County
| Prosecutor. Charles Cowenhoven, also appear
| for the prosecution in the present proceeding.
| The complaint upon which the warrant OF ar
rest is founded alleges that the President.
/ Abraham Voorhees, Ia septuagenarian whose
| marriage 10 beautiful young maiden OF New
| Brunswick was recently described In THE SUM,
| Joseph Fisher. Jr., the cashier and the direct
| ors named conspired 10 defraud and deceive
| the depositors by publishing their usual quar-
| terly bank statement in January. 1877. q copy
OF which. verified under oath. is attached to the
| complaint. in which they are represented to
have assets TO the amount OF about $3.50 900.
| when, in fact, the concern was then bankrupt.
| suspending In the following April. Alderman
| John y. Clark, representing the committee Of
| depOsitors, makes the complaint. Other aver
| ments in the complaint are that among the as
| Conover the cashier lwho since resumed his
| drinking habits and died., in favor OF the direc-
| tors, for a large amount although he wns not at
| the time worth dollar. Another averment Is
| that one OF the directors. on the day before the
| suspension OF the bank. and when they knew II
was bankrupt recommended a friend TO with
| draw his deposits which he accordingly did.
| Messrs. Voorhees, Fisher, and stats are con-
| sidered wealthy. Ex-senator Jarrard was so.
| but has probably suffered financially in his re-
| manager Of the county. and a member OF the
| Republican State Committee. They were bailed
| In $4,000 each.
| When Woodwork was tried for conspiracy to
| defraud the bank. common rumor said that
| some OF the directors OF the bank had connivcd
| at Appleton's escape 10 Europe. and knew more
about the absence OF the banks assets than was
| made TO appear. The extraordinary feature Of
| the present prosecution will be the arrAignment
OF the very men who pushed against Wood
worth in 1874 the charge that is now brought
against themselves Of conspiracy TO defraud the
| State Bank al New Brunswick.