The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-06-18

New YORK. June I6.-Thc examination
thus far made OF the condition OF the sus-
pended bank in Newark has disclosed the
fact ,hst IL is insolveni, aud the Comptroller
of the Currency has appointed Senator Gar
ret A, Hobari, OF Psssaic county, as re-
ceiycr. Senator Hobart Is a shrewd BUSH
ness-man aud lawyer, aud under his man
accment as receiver the New jersey Mid
land railroad has been restored from bank
rupt position 10 a sound business footing.
Mr. I.ynus NJ. Price, formerly cashier Of
the Merchants National Bank Of Newark,
but more recently Government bank-ex-
aminer, has been assigned TO assist Exami.
ner Magrnder.
When the announcement was made on
Monday in Newark OF Cashier Uedden's
arrival in Liverpool. one Of the directors Of
the bank said that Hedden by that time bad
known Of the banks failure, for dispatch
has been sent 10 inform him. No steps had
been taken for has arrest, nor eau there be
snv until an indictment Is found but
United States District Attorney Kcasbey
returned from Washington on Monday
night, and was in Trenton in attendance
upon the United States grand jury yester-
day when they were sworn. IL is-sald un-
officially that the banks deficiency will be
not less than $500, 600.
A businessman had n number Of small
bills scattered through tue streets OF New
ark yesterday, which contained the fol-
lowing
"Blind men wanted 10 oil the position OF
directors for new national bank, 10 he
started IN q central location on or near the
corner Of Broad and Market streets. Also,
as cashier, man who has a dread OF sea-
sickness sufficient 10 keep him oil this side
OF the pond when an emergency requires
his presence at home. Ii will be requisite
that the blind men be able to sign tneir
names TO the cashiers statement OF the
banks condition. IL this were not requi.
site, the stockholders Of the proposed bank
would prefer board OF directors carved
out OF wood. 10 which could be attached
cards bearing the James Of our most promi-
nent citizens."
IL is rumored in Newark that the Western
Union Telegraph Company are In negotia-
tlou for the purchase Of the First National
Banks elegant $4,000 building OF white
marble, at Broad aud Market streets, which
proved 10 be the banks white elephant.
THE BRATILEBOGO' VIZ FORGERIks.
BRArTLEBORo', VT. June 16.-Enough is
now Known concerning the insolvency OF
the First National Bank OF Brattleboro' TO
warrant the statement that the loss VIII
reach upward of S25O,000 through the for
gerics Of the president, 5. NJ. Waite, who
has undoubtedly left the country, and, as
the directors believe, taken a large sum OF
money with him; how much can only be
determined 10y a long, searching inyes,iga-
ton. which will be begun on the arrival OF
Bank-Examiner Hendce, who will act as
receiver for the present. The forgeries
include paper If the Connecticut River
railroad for about $4,000; Frederick
Billings. $4,000; Trenor w. Park.
$4,000; Lyon II Healy, Of Chicago,
100000: the Taunton LocomOtive-W orks,
about $4,000; {. j. Amidon, Hinsdale,
$4,000; VermiIye 4 Co., New York, some
$4,000, and others. How much OF this
psper has been used by Waite as collateral
upon which he may have raised large
amounts for individual use the directors
are unable to say, but rumors that Spring
field and Boston banks have been victim
lied in this way are current. IL is believed
Waite's irregularities date back for more
than ten wears. Certificates Of stock baye
been issued for which as yet there has
been no record found, and double issue
will undoubtedly be unea-thed. The books
OF the institution are badly garDed. Seve-
raj stockholders are known to have lost
their all by this collapse, and the feeling
against the directors is very strong. Ii is
believed that some Of the directors are also
financially ruined, and that another county
bank suffers by the loss. Suits have been
brought against some OF the directors for
dereliction Of duty.