, 1881-11-01

o. t.. IlalIwIn. Cust1icr OF Tho Mccnanics' Ma
tional hank, do suctnH'y swear that the af,uya
1flu ueb!Gf. U. l.. BAt.l3WIS, EA2hQr.
Correct-attest: WILLIAM EtAtK.
HENRY c. HDwEr1.
Subscribed md sworn to before 1nu, tas 6ih
i. n. M1Lt.glt, Notary Public.
THE ABOVE STATEMENT
was falstfir.l. as the books Of the bank l,aya
buen fu1si'ttl for tic Inst Twelve years by tlla
Cashier. but 1t succeeded III completely hood
winking the confltllng Directors. TWAS very
difficult yesterday to obtain tncts iii regard
to tile enormous dcfatcntinn wnlcn Inns re"
suited fl tile ruin Of the Alecnanlcs' Satlon-
nj. At tle hus,so ut Cashier Baldwin, lleury,
II. Unrnct, tllu United Suites Deputy Mar-
sl,aI who Ind the prisoner In charge. said
that Baldwin Iind nothing to sny to the press.
ut Drssu'It. Joseph *. ffalscy. the President,
was slck lii bntl, and niost nf tie other d.
rcctors wcre invisible. Finally
ONE uF TIE: HOARD
WIS found wlln consented to tell the story
50 fur Us he knew it, provided his nnine WINS
not used. lie IN rBp0rtsd to- llave lost ull
that lie pussesscd BY tho .efnIcat!on Ut EnId-'
will and, M he nnrrnted this llfstury. he
pulled vigorously On u pipe nf tobncco. as lie
said, to cutnteract his nervousness. At
times tears filled his eyes rs he spol;e Of tho
vtllaEny Ut Baldwin, whom he had trusted
so implicitly. 1le said:
Ycster&ay morning Dir. Baldwin, our cnahfer,
sent II lnessHKe TO Stephen 4. Conalcf+ our Vice.
President, nsklpg for III Interview nnd appoint"
Ing tho hour at II ocock.' Mr. Couilct met hin.
mil tho cashier then revealed tu him tho fMct
that tho hank wss rulnrl. The Examiner. h0
aAld wuH TO cnluo ttny, And tho Dnnk could not
atund tho cxunlination. flo sAid that there was
II deficit lit Ills accounts Ut over <a,MOuU. md
that no WIS ready to spend tho rest
III his life III prtsoh 10 atane for
his crime. SIR. Condct was bewi!dorcl ut trst.
lie hus teen virtually President Of tho bank.
as Sir. 1iusuy In very aid ant uuahlo IL tnko an
nrtlvc pnrt In the management. liz Is shrewd
Innil, md thu lieu that no cuuld have been W
deceived et,lnplutely tnzed him. lie left Dn,!~
win. unit mt once sput Il SUMMONS 10 nil the b~
rtctors chilling II 1nuetinK fur Inst evening". NO
camr together III tito houEe Of President tlnlsey
ut o'cock. Nearly ov1ry member Of tho bourd
wis present, uad ttlun for tho iirst time wo
leNrl.ea If the disaster which Ind ovestnkea Us.
Sir. Eont9ict tull ~
Wi1.tr llALbWIN HAD BALD T0 HIM,
announced tt1ut tho bank was jnBofycnt. that
sl,sr., wns ,tc,.at Of frum :o0o lo IL t.,
nnd thnt4 ncc0rdinx IL IiMtdwln's story, every
dollar vi tho nllsslnx tuunty bad gono into tho
house Of Z. Nugeut l. TO. l3nluwin wus cutteu
npo"t w." ~ e'''a ~. ~ ~" W" .t ~. ,.e
. u.ts :" ,snn, ~ uow'a. M ao ~ he n;r,
nss i, xas " "r,,at,, "no,,cr t,o,vran ,,.I.f,.'n
nn,i Suwnrt mn, m rotntrrol wns taken to
srcurt, tho notes. rhr DIRECTORS never saw or
hoard of those notes until tns revelation Ut last
niuht.
"nl1I nAI3WtS MAKE ANY EXPLANATION
Of his nclon III thus lon,,llg the lank's nloll-
ry without authority nlld without adequate
security?" WIS asked.
"iie said that, about twelve years aEo, tIe
begun tu l0al, tle bntk's ,t,DIley to SuEcnt.
| without consulting tho President or Direct
o.s. Nugrnt was unable to pay, anti other
loa,,s followed. Takn ]oan Ut s:W,000. fur
example, When tlle mute became due, Ntl-
gr,lt wDuld pay, suy, $!h00o ntld thsn bnr-
raw S4o,uuU more. III th!s WY thu ln.lebted-
HIS, was constantly increasing. Nugent, lIe
sut.I. kept prolulstllx tu pnyt all4 putting hl,u
OFT unlEt tho alnuunt OF the lefnl-
| catIon reached its present enormous
figures, Baldwin, In lila. statetuent to
US, 4lll Mt specify the amount Of
any Of tho loat!s. N,lKrnt, llo says, kept tell
luz him tat thu bn)tk would do nothing, and
|