The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1879-08-23
- GONE " RONG!''
ANOTHER EEFAULTING CASHIER
The Citizens National Bank of Washing
ton Loses About $4,000.


fidelity to the hoard of directors. Now for
the details. The Citizens National Bank is
the depository for the funds of the Northern
Central Railroad Company, the Baltimore
and Potomac Company and the Alexandria
and Fredericksburg Company. The bank
receives the deposits daily, and the custom
has been to remit to the companies, through
its treasurer, Mr.. Leih, once Il week, by
drafts on Baltimore, Philadelphia and New
York. Now, said Mr.. CreSwell, my
oderS We're Imperative to Cashier Roach that
no matter what other remittance> might not
be sent with eXacting prompiitude, that the
remittanceS to the railroad companies should
be made promptly once each week and on
Wednesdays. Matters ran along, as !
thought, strictly in accordance with my
directions until one day happened to be in
Baltimore, when Mr.. Leib, the treasurer OF
the Pennsylvania railroad company, told
me that the weekly remittance from the
bank had not reached his office on time. 1t
struck me singular, to say the least, i'll
view Of my imperative directions to Cashier
Roach, that there had been 4 derelction in
the weekly remittance to the railroad com
panieS. | come over to the bank and said,
Look here, Mr.. Roach, how is it that you
failed to remit the railroad drafts on time as
have ordered always should he RENTED
on Wednesday of each week. He dis
played no trepidation at all, but told me
that the remittance had been made on
the regular day, and i'll proof of his aSser-
ton showed me his ledger with the entry of
the remittance therein recorded, as having
been sent on the regular day. A second
time there occurred delay in the remit
lance, when concluded would investigate
the matter, for to tell you the truth, | was
becoming suspicious that all was not we'll.
1 went over to Baltimore, and from Mr..
Leid received the envelope in which he had
received one of the deferred drafts 1t was
superscribed in Roach's handwriting. Then
also received the envelope of the bank,
which was sent to Treasure Leib, on the
regular day the remittance should have been
made. This letter envelope was mailed on
Wednesday, and the weekly draft was not
in it; but instead of being in it in WedneS-
days package, it was not sent from the
| bank here until Friday, and was then sent
privately by Roach. l said to myself, Why
does he delay sending these drafts: Being
confirmed by further examination that
Roach was not acting honestly with the
bank, l at once notified the directors, and
in view of the previous good character OF
t the cashier he directors rather gave me the
cold shoulder when | mentioned to them
my suspicious. | subsequently confronted
Roach with the envelope which went out
of the bank on Wednesday, in which should
| have been the regular weekly draft, and his
own Superscribed envelope of the Friday
following, III which WAS the draft | told
him he could not blame the blunder on the
mails, although his book did show that the
draft purperted TO have been sent on We'd
| neSday. | think Roach then became SuSp-
/ cous that diStruSted him, and he said that
| he WAS quite unwell, suffering with the dyS-
| entery, and would like to 80 home and lay
down. This was on Thursday last. l am
/ in the habit of going to my home in Mary
! land every Saturday morning and return
! ing to the bank Oh Monday evening. On
/ Friday Mr.. Roach wrote me il letter and
said that he would be ut the bank on Sat,lr-
day and that if wished to go home as usual,
not to interinit the visit, as he would he on
/ hand on Saturday ut his desk. | did not go
| home on Saturday. Mr. Roach, however,
came to the bank. In his presence direct
| ed our our bill clerk to make me out 4 tran
| script of all the bills on his ledger as wished
to compare it with the payments made and
received. When did this Roach saw that
| | had the ''dot - on him, and confessed that
/ he had defrauded the bank.
PRESIDENT CRESwELL'S THEORY.
"Now, my theory is that he delayed the
| rcmittances to the railroad company, as he
did, and used the amounts thus deferred in
| stock speculations. This | do not know.
| 1t was not onlv however, i'll this respect hat
Roach was drrclict His books have been
! skilfully forced, erased and forged. Errone-
ouS and false entries have been made. An
| other system of speculation lie INDUCED in
was to defraud us in our settlements with
our eastern correspondents. Frequently, in
! making our settlements, our New York cor
respondents would ask for good commercial
/ paper prcfrrriug it to money. Roach would
give them bills and credit himself with the
payment of cash. lie has also deceived the
National Bank examiners 10y his forced bal
anccS on the ledger"
MANY THOUSAND puLLAIiS.
/ Eeporter.-iIow much will the ,lri:,lc,liol
aggregate.
I Mr. tteswrll. Many thousand dollars.
, R-portcr.-Are you Unidentified in any
Way
Mr.. Crcswcll. -leS we have his bond fol
5000, which is good. He has also con.
scented To turn over to us all his property
hat the loss of the directors OF the bank
will be about Slj.o0O.
Eeporter.-Will sou prosecute him?
! Mr.. treswell.-For the present there has
been no determination reached on thai
subject.
UPWARDS OF Sd, 900 SHORT
The above statement WAS given by Gen
Crrsweli with u refreshing irankncsS.-
While he did not say just how much the
bank hah lost, he left his interrogation the
impression that it would aggregate upwards
of $4,000, which was more than half COW
cred by the bond filed for Mr.. Roach by re-
sponSible gentlemen and the transfer Of the
property of the delinquent. "Of one thing
Won can conti.ientl, assure the public, said
Gen. CreSwell, land that is the bank will
90 right on. No one hut the directors will
suffer. We propose to meet it like men, OF
course regrettinG the occurrence
1t may be added that Mr.. Tome, one OF
the directors Of the bank, is fully able to
keep its condition unimpaired even though
the dedication had been three times Us
large.
MR.. ROACH,
the defaulting cashier, is in Virginia ON !.
farm he owns i'll that State, and is said 70 be
tailoring under y terrible depression OF
spirits. He is a native Of this city, Il son OF
the late +. \. Roach, who for many years
was the Register of Wills of the District.
For some years he was Il clerk in the
National Metropolitan Bank, of this city,
but eSignet that position some Years since
to take he position of cashier of the Citizens
National Bank. Heretofore he has borne
an unblemishcd character, and the an
nouncenent tina: he has dciaulted will create
surprise among all who knew him. He is a
married man, Il son-in-law OF DIR. Liber!nan.
! His friends do not know that he was fast in
the least degree, and he has always APP
peared to DO 4 modest, unobtrusive young
man, not given to dissipation Of any kind.
! 1t has been remarked, however, Of late that
much of his time outside of the bank has
| been spent in the company Of stock dealers
! and brokers, and it is SURPASSED that the
money has been used in stock speculatious.
Mr.. Tome informed us while in town, on
! Tuesday last that the bank would not lose
more than $4,000 An effort we under
stand, will be made to bring the dcf:lulter to
justice, SO that some punishment adequate
to his offence may be administered to him.
~ Brickley 4 McCullough's third
grand excursion from Port Deposit to
Colchester occurs ON Tuesday, Scptem-
Der 2nd. Don't forget the date.
rs-Ciambrll's celebrated patapSco Family
Flour. with all other grades Flour and Feed. at
! North Street Market. WIrwoRTH.
as-rear Shirts-Fall styles. still selling at ST.
9s- Wooden Flnnncl$ and Canton Flanncs at
! REESE <. Prices wont scare you.
! a5-Cincnnati Hams in canvas, 3 rs. up. at
DRENSI:; 5.
sJ-Sam'l ]. is ON deck with house cra,nmed
full of goods. \ little money will go a long way.
1s~cottoa flanno!s at cents up. ut
| DRESyENs.
ks~NcXt week We will be ready toT the sjorts F.
men. viii furnish Ammunition ut the most ap-
proved kinds: load shells To order AID do the best
We can to please them. REESE.