The Portland daily press., 1879-03-25
ANOTHER STEAL.
A Savings Bank Treasurer a De-
faulter in 100000.
He and His Son Arrested and $40
900 Recovered.

BosToN March 2f-Great CONSERVATION exists in
Reading over the discovery that Treasurer Nathan
p Pratt of the Reading Savings Bank has been
Systematically deffauing the bank for years, and is
a defaulter to the amount OF $9O,0o0 Pratt has
held the office since the bank was incorporated in
1869. The only security held by the bank is a
mortgage of s 900 on Pratts farm and $500 in
government bonds. Pratt owns large quantity OF
real estate but it is so encountered that nothing
be realized it. Pratt is about 81 years old, and
represents the town in the legislature. He is known
to have appropriated securities held by the bank
and forged notes to cover the deficit Most of the
banks depositors are persons of small means. The
annual report in November last showed about 900
depositors and the amount of deposits S14s,4 924.
Sunday night warrant tor Pratt's arrest was OBJ
tanned, but be had disappeared. The bank has but
5000 in cash left.
There has never suspicion been raised in regard
to the administration OF the affairs OF the bank, and
its officers enjoy the fullest confidence OF the COM
munity. Its former President was Mr.. Ephraim
Hunt, now Superintendent of the Public Schools Of
Newton but some two years ago as be was absent
from the town, the Savings Bank Commissioners ad-
vised change in that Office in order that a man
should hold the place who could give it more direct
personal attention. Mr.. Francis o. Dewey was then
chosen, and has given the bank good deal of his
time, visiting it at least twice week, and making
personal examination Of the books to see how its
business was being carried on. The treasurer had
power to transfer mortgages in any event, except
under the direction CT the financial committee,
which. of course, he has neither Obtained or sought
in regard to any Of these rregul transactions. At
the November meeting Of the Trustees careful and
thorough examination made Of the securities Of
the bank, and at this time as well as by the annual
| examination Of the Savings Bank Commissioners no
errors OF fraudulent transactions were discovered 1t
thought that with the exception of the failure to
credit deposits received upon the books of the bank
the Irregularities and fraudulent transactions have
mainly or wholly occurred since that date, and of
course the former method of embezzlement would
not appear by any examination of the securities or
books of the bank, however carefully made.
In the course of the examinations on Saturday it
was also discovered that in addition to the other
measures which the Treasurer had devised to deplete
the bank Of its securities the replacing OF
the securities which he had appropriated by forged
notes, but to what extent is not known. 1t is in
timated that the daughter has substantially admit
ted that some of the personal notes held by the bank
are forgeries, but she denies any knowledge of who
| committed this crime, The names which are known
| or supposed TO have been forged are those Of
residents of the town of Reading. and most of the
| mortgages which the treasurer transferred we're
| upon real estate in that town.
Pratt come to Boston Sunday afternoon and spent
the night at hotel. To-day he passed in company
with his son, Nathan D., at the United States Hotel
concoctiDg plans to escape Both were arrested by
| detectives while on the way to the Old Colony
| station to take train for New York. When take
to the police headquarters the elder Pratt denied
that he had done anything wrong or that his son
was in any way identified with the transactions at
the bank. The former was searched but none OF the
missing papers discovered in bis possession. Upon
the person of the son. however, were found secreted
all manner of securities, including large number
OF mortgages bonds, notes, etc., to the amount Of
81 900. Both were subsequently consigned to cells
| in the tombs
Another son. Sydney Pratt, was some time since
arrested for subornation of perjury in endeavoIing
in connection with the notorious ''John Bnll', to
procure the release Of M. Frank Paige on ball. and
was held in $4,000 to await trial for the offence
His father, the deaulting treasurer recognized for
his appearance in that amount upon hearing the
condition of his fathers affairs and fearing arrest,
he fed the city these crooked transactions the
Pratt family were mixed up in the matter of the
Mystic Valley railroad affairs which were recently
| exposed by the State railroad commissioners