Morning journal and courier., 1881-11-04
News by Telegraph FROM ALL QUARTERS. BaIdWin's Methods. Newark Citizens DistrustfuI
 of His Story. THE RECEIVER IN CHARGE. A Reconstruction Move Among
 the Directors. The Resources of the Nation. An Interesting Report by Treasurer
 Gilf1llan.
The Resources of the Nation.
NEW JERSEY.

The Newark Bank Crash-Cashier Bald. wins Story Taken With large Al-
 1owance of sa1t-A Warning thnt Went
 Before the FaII-Receiyer FreIinS-
 huysen in Charge of the Bank.
 NEWARK, Nov. 3.-By dint of con-
 stant insistance the story of the defaulting cashier obtains some credence. The statement of the United States District attorney that he fully believes it necessarily carries some weight. But Newark people in general are strongly of the opinion that any theory of stChris Nugent'' using
 "Oscar Baldwin" is such an inversion of all probability that much positive evidence will be needed to sustain it. They refer frequent ly to the profound truth that the tail never wags the dog, and refuse to believe that the lost two and half millions are wandering about fin sheepskins and goatskins" The evidence, so far as there is any, is all the other way. It is an open secret that long ago brief warning, 'sMechanics of Newark, look out for it, was put in writing and given to a detective firm on the 'point' that the cashier was constantly dealing in Wall street and known to be so occupied by persons whose legitimate business called them there. It is an open secret about the furtive s'ticker'' and telephone in Newark. It is also an open se- cret that persons were urgently warned to sell Me Mechanics' shares and that some shrewd holders without external warning so far as known did in fact sell because they thought the stock was pretty high'' Some of these sales were perhaps made on account of the- atrical management developments (which ap- parently received no attention from the bank directors, though long since in print), but some of them were certainly not due to that It is almost sure that fresh revelations are yet to come.
 The rumor that the directors of the Me- chan1cs' National bank or some of them will make up the required sum and continue the business of the bank is thought to have some foundation. The directors are amply able to do this. They are men used to the good opinion of the world, necessarily sensitive to unsparing comments of the public and press and acutely aware of their present painful position. It is therefore quite likely that they seriously considering some of the many plans mentioned of restoring the bank to credit and usefulness.
 Receiver Frelinghuysen took possession of the bank this morning. His appointment is favorably received He will take no active part in the management until the ex- aminer has concluded his report The ap- pointment followed the failure sooner than customary on account of numerous civil suits projected, which became imperative immediately upon the receiver taking posses sion, but which are the first lien when brought before that event. One instance is the suit in chancery brought by Cortlandt Parker, notice of which was served half an hour be- fore Receiver Frelinghuysen took possession It is brought on behalf of the Corn Exchange bank of New York to restrain the broken bank from collecting any sums due the New ork institution. The failure of Dennis Os- born, grocer, is not considered serious af- fair. No other failures are reported and none are expected at present.