New-York tribune., 1882-04-07
A DEFICIT PROMPTLY REPAID
THE DISHONESTY OF A CLERK MADE GOOD.
GEORGE BRUEN, COUPON CLERK IN THE BANK OF
AMERICA, CONFEssEs THIEvERY - THE


AMOUNT REPAID BY HIS FRIENDS.
SPce the beginning of the year, George Bruen, of
Newark, N j., formerly coupon clerk of the Bank
OF America, at No 46 Wall-st.. this city, has had
connection with that institution Only few of his
friends could assign any reason for the severing Of
his relations with the bank, and they have been
anxious to suppress the facts. Recently, however,
1t has become known that Mr.. Bruen left the bank
only after lie had confessed toa deficit in his accounts
OF more than $4,000, but that he had made good
the deficiency to his employers. As the officers of
the bank saw that the institution was fully pro-
tectcd from loss, they united with the immediate
friends OF MIR. Brucn in efforts t. keep the matter
quiet. No steps were taken to hold the clerk
crininally responsible for his action.
The department of the Bank of America which
Mr.. Bruen had charge of is one that is intrustcd
TO no person who does not enjoy
the perfect confidence OF the bank officers. 1t
is the steppng-stoneto to the highest positions in the
institution w. l.. Jenkins. the president, and
Robert Jaiiray. the cashier of the bank formerly
were coupon-clcrks. The bank has the agency for
paying the coupons on the bonds of many States,
cities counties and corporations, and while the
coupon-clcrl does not actually handle the money
foT theS" payments, he virtually has absolute charge
Of them, subject to the supervision of the cashier.
Mr. Brucn had held the position OF coupon-cerk for
some time His connection with the bank dates
back about ten years, and his course was one of
steady promotion until last December, when the de-
felt in his account was discovered and rectiicd In
the latter part of that month he taken ILL., and
was unable to go to the bank. 1t was his detention
from business that led to the disclosure of the
dticn of his accounts When he found himself un-
able to attend 10 his duties he sent letter to the
officers announcing that his accounts would be
found on examination to be short over $4,000.
This letter was received half an hour before of
the sem-weeky meetings of the Board of Directors.
Mr. Jaiiray, the cashier, was sent at once to New
ark to see Mr.. Brucn and receive from him
the story of his cmbczzlemeut. Mr.. Bruen
claimed that n large lrt of the shortage due to
his having lost coupons that he had received and
given checks for against the paying teller of the
bank. He said that bis taking of the banks funds
began when he lost some coupons of bonds of
several counties in Kentucky, and was kept up
with view to prevent the discovery of the fact.
In order TO protect some accounts that were drawn
against, he overdrew others, and the confession of
his conduct is believed to have been precipitaed by
his knowledge that some of the accounts would soon
be closed up. As he had not kept his books
so as to conceal the deficits, his
absence FROM the bank involved certain discovery
of them by the person who would take his place
temporarily.
Tie bondsmen Of Mr.. Bruen were per-
SONS whose financial positi made 1t certain that
The bank would lose nothing because of the clerks
dishonesty; The amount OF the bonds, however.
was considerably smaller than the amount of the
deficit 70 protect the bank from loss it was not
necessary to proceed against the bondsmen, for Mr..
Bruen made good the deficiency almost Immediately
after he had acknowledged its existence. Tho
negotiations for the settlement, ii is understood
were conducted in behalf of Mr.. Bruen by his
brother-n-law. Chancellor RunyOn, of New-Jersey.
ne q u
Mr. Iruen personally, Ii was the general belief of
the officers and dlIecto.s OF the bank at the time
that il raised by the friends and relatives of the
coupon clerk After the disclosure of the deficit i'll
his accounts, Mr.. Bruens connection with the Bank
of America ceased
Mr. Bruen is about forty years old. He is mar
ried and has several children. For years he has
been the organist in the Third Presby-
terian Church III Newark lie is not known TO have
been dissIpated i'll any way, but, on the contrary,
those who are acquainted with him say that he
practices the virtue Of economy almost to excess.
1t suggested that Mr. Brucn INDUCED in Wall
Street stock specualons, but his friends last even
ing secuted tue idea. The Bruen family is one of
the oldest families in Newark. Ar. Bruen's mother
is Mrs Elliott, Of this city lshe has been
married tho second tlme), and Is large
owner of property. Ills sister was married 10
Chancellor RunyOn and he has two or three broth
in business in New-fork The respectable
family connections of the clerk and his previous
good record In business were said last evening to
have had large weight with the directors of the
BGnk of America in deciding. them not to expose
Bruen'5 accounts with the bank extended back
more than few months prior to his confession
Charles O. Landon, of M 42s tifth-ave a d.
rector of the bank, expressed great surprise that
anything should be said about the matter four
months after the occurrence 1t was all settled up
and the bank lost nothing he said last night, and
BFuen Is now doing some writing III New-Jersey, or
something of that sort to support his family. Ii
was not dcfacation at all. 1t was mixing up of
accounts-that was all. He was bookkeeper, and
had Something to do with the coupons and some
thing 10 do with collections, believe"
How did he spend the money which he misap-
prOpriated !" was asked.
Il don't think he speculatcd or gambed or led
fast life in any way. He has a wife and children
and is of good family: lie was not related to any
one connected with the bank. His account was all
covered, and that was the end of the matter so far
as We were concerned
"Did vou threaten to prosecute him, and was this
the reason why he settled 80 promptly !" .
''Hc was in New-Jersey ana 1t would have
required a rcquisitiOn 10 have gOt him. The
settlement on his part made 50 promptly and i'll
such spirit that there was no disposition 10 prose-
cute him. lie had been employed by the bank for
a number ol years. and under the circumstances we
were all willing to let it drop. do not think
Bruen dishonest man. or that he VIII ever DO any
thing wrong IN the future, and L would give
him position to work Tor he tomorrow
as soon as any man know"
j. Harsen Rlolcs of No. 80 West Twenty-second-
st. another director, said: " Bruen left The employ
OF the bank last December. The 1act was, he had
heen spending more than lie earned. and had taken
n few thousand dollars more than his salary. lhe
amount was so small that We made 40 account OF II
because it was repaid, hundred cents on the dol
lar / don't remember the exact amount-a
few thousands. 1t was so small that at
the time we did not consider 1t Isec-
essary TO make it public. If the amount had
been large or If we had not recovered every cent OF
it, or if il had been the cashier or some prominent
oiiicla l. the case would have been different"
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