New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-11-13
BREAKING TWO BANKS.

wurTE THE MONEY wENr-wHAT THE DE-
rosrTORs WILL GRIT
: / Berry. cashier of the Bank of Bergen
cmntv ard treasurer of the Bergen County
Savings Bank, at Hackensack, n. j., has
IN discovered to be an embezzler of nearly
e1s0OOO in cash and securities OF the two
.ornorati0ns. He had been trusted implicitly
~ the directors, who were lOath TO believe
hin, dishonest Most of the money stolen
vas lost IN speculation, but some of 1t
ras invested in fancy fowls, at 800 apiece.
:, - believed that the depostors of the
porcen County Savings Bank viii receive 70
end the depositors OF the Bank of Bergen
county 80 cents on the dollar.
HOW THE CRIME WAS FOUND OUT.
vueb excitement prevailed in Hackensack. n j.,
Xs.,erlav over the suspension of the Bank of Ber-
an County and the Bergen County Savings Bank.
wbieh occurred Thursday, caused by the embezzle
,aeut OF cash and securities by John j. Berry,
..sb,sr Of the former institution and treasurer of
The latter The loss of the banks Is variously esti-
rared AZ from Sl2O 600 to over $3.50 OOO and while
tbeSe figures may be increased Investigation.
norton of the deficit will be made good bv properly
ard securities already turned over TO the corpora
,;ons By the embezzler. The banks were
animated ina large brick building in Maln-st..
o,noslte Court House-square and did business
nnder the state laws. The Bank of Bergen County
had no notes IN circulation and was one of the eight
hanks of discount and deposit IN New-Jersey. Its
r.onrces we're given in the last report to the
State authorities as S2S7 900, which included
SIS 600 cash on hand with New-York cor
respondents $4,000 real estate and $12G,-
600 in loans and discounts. There was
$4,000 in deposits included III Its
liabilities and $4,000 IN loans and interest, and its
last se1ri-annusl dividend of SIX per cent was paid
IN .July. The aggregate assets OF the saving bank
g. tbe last statement were put az actual value Of
e2ot 600 wllch included $4,000 IN stocks and
nd. and $4,000 loaned on collateral securities
of the Darkct value of S74OoO'
yvhor the First National Bank Of HackensacS and
r,e Usckensack savings Bank were broken
many accounts were added u the Bank OF
R-rrso County and the Bergen County saw
trr, Bank Judge Care, q. AcKerson IS president
o. h,r1 E. ess banks. The directors OF the Bank OF
p.rg., County a.e: Garrett G.. Ackerson, David
Terb1ns George NJ Wheeler J. II. I. Banta. r. P
Tor,g,e William Huyler, John n. Glmewe.l, JAS.
n. Ou4.kabu,l. james !. Dsuarest, Thomas Ach-
e,btch John >camulrs, G.. Ackrrs 30, jr., and john
JB.rrr The trustees IF the Bergen County Saw
in Bank are: G. G. Ackersou, Garrett s. Dema-esr.
john j. Anderson. \. ID. Campbell, Rupl 5.
U-mtr "A. W0rtendyke, 4. b. AckermaA, j. Van
Bn,krs. ir.. =. %. Grojhe. +. etein.e, David Ter
hume. e.. i. uerung 6. ". Wheeler WiIan Hiy-
ler n C.. Dsmarest C. Marks, David Knowles and
JOIN sclumlts. Both institutions were started ia
1s73.
Wasn the suspension of the banks was rum red 10
Hackens3ck. Thursday, the wdespread confidence
in the soundness OF tie institutions caused lie
por.s a. first 20 be discredited. On application ar
tn banks, however. the rumor soon subslanti-
fna lima of vgfr .
dtpositors the only reply was rhat the
Bank of Bergen COUNTY had been robbed and ruined
By tie cashier bu, there some cnauee OF the
savings bank beng secure. THIS information did
not the dep0s,tOrs who congregited on the
Sidewalk IA Man-st. and discussed TIE situation
with WAY nth ana energy. The savings bank Das
about 900 depOslJ0Ts, 10 whom It's hlbI ties are
nearly S2ss. 900. The dep SITS consist OF SUNS
gng FROM y to $4,000 and $4,000, and III one
Instance $1,000. Tie county bank has a liability Of
$4,000 to 400 deposltors with capital stock Of
500. 900, which has all been paid n.
HOW THE EUIN WAS DISCOVERED.
The discovery of the real condition of the banks
wa accidental Monday afternoon. Mr.. Ierhuue,
director Of both institutions, called at
the savings bank and asaed 10 see GER
tam collateral securities winch had been
gwen for a note. Ine securities were missing.
llr Berry the treasurer was absent IL New-YOrk
81 the tme ana his return was awaited with some
aux ETY.. On being questioned about the securities
he acknowledged that be could not produce them.
The president and directors at once began lnves-
heauon and soon discovered that large number
Of Government Hackensack and Bergen County
bonds had been taken from their envelopes IN the
vault 1t was supposed first that the banks would
BE- adj, to bear the loss, and accordingly business
was continued as usual. More extended InvestIga-
ton. however, showed that both banks would have
to lose. At a meeting of the directors Wednesday
night il known That the loss would Dr. at least
500 900 but how much more, IL was then lmpossl-
be 10 state.
Mr Berry was confined TO his house Monday by
sickness, but was constantly watched by consa-
blsa. rumOr that he mad attempted To commit SUI
eide by taki Paris green was deuIed by his friends
thursday night a crowd OF angry deposlIoTs gath
eTed near his house IN Aaln-st., ana loudly e&- I
pressed their Indignation at the embeZZ ement he
opinion WAS freely expressed that Berry would Oe
"faroaded To state prison." aud threats Of per- |
.onal violence were also uttered. Justice Berthon
issued "a warrant for his arrest about p. H., which
was served by Constabies Earle aud Herring. |
Oh rglng embeZZ ement OF funds OF the |
bank of Bergen County and the Bergen County |
Savings Bank and fixing the sum stolen nomIDalIy |
SAC. 600. President Ackerson nad instituted tins
Proceeding after consulting wlth the directors MI
Berry allowed to remain at his house IN the
custody Of officers.
The foruai arrest was made early Yesterday |
morning and the prisoner taken before Justice !
Bertholf who held hin IN $4,000 sal. In the |
morning II Was supposed that W. H. Hall, a relative
CT BeYrys living this city, would give bail Tor him.
AIs. Hitchcock his grandmother, WHO is SAID 20
have property valued at 100000 IS, staying at Dir.
Halls hOase. M Hail however, did not appear,
but TWO bondsuen were found the persons of
gIdge ". =. Banta, OF the Bergen County Court OF
Common Pleas, ana Irvlng Wood brOther-n- law
OF Berry's. he case Will before the Grand Jury
next month. On application by directors OF the
County bank. Chancellor RuDyon Yesterday ap-
pointed ". NJ. johnson receiver. The savings bank
remains in charge OF the Chancellor, 1no has /
ordrred is 10 be wound up by tine directors under
the direction of the court. Isaac Wortendyke State
Senator elect, appointed examiner Tor the
3Vlngs bank.
WHO THE KNRFZZLER Is