The Portland daily press., 1881-11-02
THE NEWARK ROBBERY.
Baldwin's Defalcation Foots Up
100000.
UNCERTAINTY AS TO WHERE TIL.
MONEY WENT.
How the Thief Deceived the Bank Ex-
amlner.

WASHINGTON, Nov. 1.-Comptroller of the
Currency Knox says he will probably appoint
a receiver for the Mechanics National Bank at
Newark N j., tomorrow. In the meantime
the bank remains in the charge of Examiner
Shelley, of New York, and L. NJ. Price, OF
New Jersey, who have been appointed repre-
sentatives of the Government.
New YORK, Nov. 1.-The Post says it is now
understood that the Mechanics National Bank
Of Newark, losses by its cashier about " ,6O0,-
600. The alleged use made OF the money by
him is even more amazing imam the
amount taken, and there is reason Tor doubt
ing whether the true explanation OF the dlspo-
sition of the funds has yet been made. At the
same time nothing has come to light in Wall
street which sho~s that the money was lost IN
Stock Exchange spec9lations. The fear that
there would be run on the savings BANKS IN
New Jersey has not been realized, and IL IS
hoped that is will not be. There IS no good
reason why there should be one, as it does not
appear thpt the defaalting cashier had much
10 do with the management of any OF these
companies
NEWARK, Nov. Warren Ackerman, for
mer director of the Mechanics National Bank,
who demonstrated against the one man power,
has begun law suit against President Halsey
for debt caused by negligence. Nugent's
counsel deny that he received large amounts.
1t is stated by Cashier Baldwin that he says he
cannot ascertain how his account stood at the
bank because Baldwin had them SO mixed up
other banks are seriously involved with the
Mechanics, and will not be affected The
President OF the Mutual Benefit Insurance
Co. telegraphs their agents that the banks
failure does not embarrass them, their deposits
having been steadily reduced since May and
the receipts from their agencies have been de-
posted in the State bank. A receiver has not
| yet been appointed, and there are no new de-
| velopments..
| District Attorney Keasby has demanded
1 tba Of "a in Nupaut'S fac
| tory on the ground that it was acquired by
| money obtained from the bank under the
promise of turning it over in case OF necessity.
| 1t is roughly estimated that the BANK assets
| will pay deposters fifty to sixty per cent. A
receiver will probably not be appointed till the
| examiner makes his report.
| u. 8. District Attorney Keasby makes a de-
| tailed statement Of the drafts and deposits by
| Nugent in the bank during 1881. The total
| amount OF the drafts for this year was $l,5O6,-
| 600 and deposits about 81 100000
| Mr.. Baldwin stated to-day that ne received
| one per cent commission from Nugent for ne
| gotiating his paper and taking charge OF his
| banking business.
NEW York, Nov 1.-The Commercial says
it is reported on good authority that Bald
| wins bondsmen have not renewed their bonds
| within fifteen years. This being the case the
| sureties ara no longer responsible, as, accord
ing to the laws of New Jersey, bonds are re-
| CURED to be renewed every seven years. Inc
| following 8LbaGHm6I1th W6r0 lScuCQ az diLiou uhO
| Mechanics National Bank to-day Shoe and
| Leather Bank 5000; Peoples Bank, $685.
| 375; Corn Exchange, $4,000.
| The United States Bank Examiner, speak
1 ing of Baldwins transactions, said:
| HE has confessed to me a bit OF rascallty
| which shows how near the discovery was at
| that time. 1t was in August of 1880 and L was
making my first examination. Before that the
| Newark bank WAS examined by special clerks
from the Treasury Department, who seem to
have neglected to verify the balance on the
| books by a visit to the Mechanics Bank in New
| YORK, where large sum was said to be carried.
Well, as I said, it was my first examination
/ of the Mechanics Bank, and after finding
everything apparently correct l sent note to
| New York asking the cashier of the Mechsn-
| les Bank there what the balance OF the New
| ark bank was. 1t seems now that Mr.. Bald
| win happened to be Ia the office OF the New
| York cashier just as he finished writing the
| reply aud offered to be the bearer OF the letter
| SO as to avoid the risks of mail carriage. The
| letter was given him, and then watching his
opportunity Mr.. Baldwin distracted one OF the
blank letter heads and blank envelope of the
Mechanics Banks of New York, returned te
| Newark and deliberately forged an entire let
ter, putting in figures for the balance cores
ponding with those of his own falsifed books
This threw me off my guard and as the for
gerry was capital one and had no suspicion
OF foul play, he put off his exposure for some
| months -