Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1880-06-18

sumption that the directors had been culpa-
bly, negligent. and were therefore responsible
How THIS noTrENvEss WAS POSSIBLE.
This brings us TO ask. or rather to answer,
the question, how could the existing state Of
things il the bank have obtained and contin.
ued without discovery for q series Of years
The answer simply ls that this was possible
because OF the supreme nudacity and villain
Gus cunning Of s NJ Waite coupled with the
unquestiuned faith IL the mans personal H.
tegrity which was reposed il him by bis d.
rectors For years q distrust Of the bank has
existed, but a. his custom was with every
thing with which he had to do Mr. Waite
held Its management strictly IL bis own
hands. When his directors attempted an ex.
animation they were shown this forged pa
per which made the bank appear so strong
as to leave no question Of Its absolute sound
ness. They had not the slightest reason 10
suspect that the paper was forged, and hence
affairs reached the pass which Alr Hendee'e
examination finally brought to light OF
course d question asked at any time OF any Of
the parties against whom this forged paper
was drawn would have revealed the true state
Of affairs But nobody suspected a forperv.
and therefore none Of the directors thought
Of pushing investigation beyond the point
usual IL suCL cases. That the director. were
crimlnally negligent We do no; believe but
We do not understand. and have not for
long time been able TO comprehend how any
man could consent to stay il such a supposed
responsible position where be was made q
mere cipher, and where any uuwelcome ques-
ton or movement Oh lis part was promptly
met by vulley Of cursiug and vituperatlou
How LONG TIL VILLAIN Has uEES GOING On.
At what time Mr. Waite began his course Of
crime can only be q matter Of conjecture 1t
ID. s.IF sf... d. al. 81 3 ID.
blts began some fifteen years ago when ht
assisted his brother Henry out Of embarrass-
meuts il which ho became involved III C1ica-
60 i is supposed that BE- helped his brother
Oh this occasion to the extent Of $4,000 t.
$50. u0u and many persons have supposed
that 1t was the funds Of the bank which b,
used for this purpose. Developments OIL
Thursday showed that hi. forged USE OF Mr.
Amidou maine began il 1865 Il probable.
therefore that for at least twelve years lac has
been bolsterlnE himself with forged paper
wHEEI HAS TIL MoNEl COM:
This question is easier asked than answered
Waite s expenditure IL his great organ fight
have been very heavy. but parties who should
know Of tins say that So. OOO must cover all
that he has paid out IL tins direction Add to
this the sun. presumably furnished his broth.
e. and there Is still very large balauc, uu-
accounted for. The most Natural suppoAltiuu
ls that this balance 1as gone where DO many
other wicked men. brought 70 great straits nv
their crime have put the money Of which
they wer, legal GUARDIAN into the whirlpool
IL Wall street-ln the vain hope 10 retrieve
his losses and save his reputation.
TIL HASEs HISTORY
The institution nov known as the First Ma
tlonal Bank Wa chartered IL ls5. a. the
Wludhau County Bank, ana began business
~ u
and n /. Willistou 1T FIRST president THIS
position Nj. Willistou held til January. 1879.
when he withdrew. and Mr Waite was elected
president. and since that time ht has been
both president and cashieI-he having under
one pretext or another. succeeded IL stnv!uc
Of the appointment Of q cashier for reasons
which Ere now only too apparent The bank
wa the FIRST IL this county 10 organize a. d
national bank under the Law Of lsG. IL
August. ISL. occurred the robbery which
ever since ma cast suspicion Oh the soundness
q the bank and Of its management IL Is-,
the circulation was reduced from $40. OuU to
$50. OOu
wA1TL E HISTORY AND CHALACTEE.
: N. Waite was born IL Fayetteville. IL til,
year ISL. l. Ais childhood his family re-
moved 10 Braitieb Oru. and here hIs whole life
has been spent. with the exception OF d short
period when IL Lis teens when he held Il 80
sluon a. messenger IL Springfield, Mas.
bank Leaving that bank be became IL.
stage agent a. TINS place position inch b,
efficiently nleL for several YEAR, He was
afterwGrd express agent. and then became
bank cashier IA stated. he Was q man with
remarkable grasi o. business AFFAIR.". Of
wide general information, and Of unusual ia
cillty IL al mathematical Operations He wa
man Of great public spirit. and his services
IL connection with tie schools and the fir,
department vii not soon be forgotten He
was warn friend and d bitter enemy. and /.
has been often remarked with perfect truth
that II was far easier 10 get along with hlm a.
al enemy than as friend and the because
q that intense autCcrHtc gpirlt which he man
Tested IL any business or matter whatever
with which be was connected. II the face Of
Tie terrible and damuinE revelation. OF the
past few days il Is impossible not % remem-
Der that he was "a man OF exceptional warmth
Of hear; and qulckness Of sympathy. Beneath
his oftentmes harsh and overbeartur dem,au-
OF his friends knew that IL his emotions he
Wa. as ssusitlv, a. d child. How through
thes. long and weary years he ha- been ali,
q carry liz dreadful load OF crime. apparent
By Ct a.. men the most self-coundtut and III
concerned. is d matter not 10 De comprehend
Cd 10y ordInary mel. Lveu 10 the very las;.
OF the very night after Ny. Heudes had told
HIM hls suspicious, and the guilty man knew
inevitably that his hour Of doom had COME
his nerve did not forsAke hin IL the least ana
be went with perfect uOuchalGuce 20 the
Brooks Hous, with Mr Hendee and talked
with hin for q full half hour OIL all sorts Of
Indifferent subjects Il il be necessary 70
point the moral Of the dreadful story 10 any
Young man, let him only be asked u remeni-
Der the perfect he'll Of torment IL which 5. NJ
Waite must have lived for full twelve year.
past.
II tins terrible affection Mr. Waite fam
lily have tie quick ana OVERLOOKING sympathy
Of the whole community. and the spirit which
the family manifest II more than praisewoT-
thy. Nj W. [, Waite the SOL, has resc-
lutely faced the whole matter and e1erted
himself 10 discover and turn over 10 the bank
every dollar Of his fathers property. saying
that neither be nor his family wanted d pen
ny which could belong to his fathers credit
ors. The homestead belongs 10 Mr.. Waite
and was bought with her Owl privEt,
funds IL the lrst excitement Of the terrible
revelations she proposed TO give even this NJ,
but wise friends, II II reported, have per
suEded her 10 desist from SO unvlse Il sacri-
nee.
Every development goes 10 show tina; nei-
ther Col Sawyer nor Mr. Guild had any
knowledge whatever Of the condition OF
things IL the bank Their position WAS pure
BY clerical they were not allowed 10 know
anything Of the banks affairs or general
business they simply performed routine
work and did what MIR Waite teld them 10 90
Col. Sawyer, called by courtesy the assistant
cashier, Wa not even allowed 10 open the
banks mail Everything wac under Mr.
Waites strict Rutocratc management A
year ago last April Col Sawyer resigned, and
i was only because Mr Waite went 10 his
house and begged Of him 10 remain that be
consented 10 do 50, Why Waite was thus
anxious Is now only too apparent
LOSSES TO STOCKHOLDERS AND OTHERS.
The los and disaster touches so many peo-
Pile and the calamity is so universally felt o
be d personal matter, that q feeling OF posi-
tive gloon pervAdes the community. From