New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-08
TIE PLUNDERED BANK.
ACTION OF THE OFFICERS.


UNDECIDED YET WHETHER TO REDUCE THE CAPI-
TAI OF THE BANK OF NORTH AMERICA OR MAXI
UP THE DEFICIENCY-TuRNEY ARRAfGSED.
The defacation of Augustus Nj. Turney, the
paying teller OF the Bank OF North America, was the
subject OF much comment among bankers and brokers
in Wall-st. yesterday, but there was no excitement
growing out OF the affair The publication OF the actual
condition Of the bank found by the bank examiners
full details of which appeared exclusively in yesterdays
TRIBUNE. simultaneously with the announcement OF the
defalcaton-t conceded by one, had had the
effect of aayng the anxiety the part Of deposltors
and stockholders that, under different circumstances
might have given the bank further seriOns trouble The
officials OF the bank stated yesterday that they have had
numerous offers Of assistance from other banks but all
these had been declined There attempt on the
part of depostors to draw their balances and deposits
made usual during the day. The only sale oil
the banks stock lot of fifty shares which was sold
at 65.
Acting Bank Superintendent Lamb telegraphed that
he could not come TO NewYork until last night. The
meeting OF the directors which IL Intended to hold
yesterday jointly with the Superintendent was therefore
postponed until this morning The question whether
the capital shall be reduced the deficiency made up by
an assessment the stockholders viii be considered at
the meeting. The president and cashier express them
selves in favor OF the latter course
The former receiving teller in the bank yesterday
dischargiug the duties OF the aging teller He VIII prop
is sOnnlaw OF j. t. Cornell the iron merchant. ana IL
is claimed by the bank officials that he did not receive
any portion of the plumber taken by Turney although IL
is admitted that he had known Of the deficiency for
long time and that he had assisted Iurney IN keeping
the matter secret IL understood that Turneys ac-
completes outside Of the bank known TO the officers
OF the bank but IL is thought 10 be nudicOus TO make
their known at present One Of the directors OF
the bank said yesterday that they two members OF
the Mining Exchange.
Turney afraigncd before Justice Bixby at The
TOmDs Police Court yesterday, Oh a charge made by
President DOwd Of emDcZLement. The following Is the
affidavit of Mr.. Dowd:
civilian DOwd OF No. 16S West Twenty-second-st,
being duly w0rn depOses and that ON or abe ut the
9th day OF December, 1877 Augustus VI. TuTncy NOW
bere), being officer IN the Bank OF North America,
OF winch the complainant il president and not being an
apprentice Within the age of eighteen years, old felO
niOusy embeZzie aud convert 10 his use good aud
lawful money the amount Of $4,000 the property of
the Bank of North America Incorporated under the laws
of the state NewYurk OF which dcpOncntis president
which had beeu received by ead Iuruey H. his capicy
OF clerk o. Olesad. VIM. DOWD.~
Thr total amount taken by Turney was 100000. The
Crowley Of the Central Office by whom he was arrested
Orlando L. stewart appeared az his counsel, ana Emu
Root as counsel for the bank. In reply 10 questions
1urnCy stated that he ityDno years old, ana thtt
he was In city. HIS counsel stated that lie
would waive examination, and II hoped the bal
would nc excessive IL suggested that the ban
should b. fixed $4,000, bat the considered that
amount insulil,nt JIc accused man might easily ny
with the proceeds 81 his pecdatOns, II Il were accepted
IL finally decided 10 send tue papers To the District
Attorney Olcc aud % commit the prisoner without
bail the amount OF bal 20 be determined 10y the District
Attorney hereafter. The prisoner Was sen; 10 the IVbs
aud assigned 10 cell No. ~.