The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1884-09-09
VOTE FOR COUNTY TREASURES.
CHAPTER OF CRIME.
Affairs of the National Bank of
New Jersey in a State of Chaos.
SUICIDE OF THE CASHIER, PRES.
IDENT AND A DEPOsITOR.

NEW BRUNSWICK. N. j.. Sept. 8.-Director
Stoddard of the National Bank of New Jersey in
the city of New Brunswick said last night that the
shortage of late Cashier Hill footed up to S196 $780,
when the directors quit work Saturday. Cashier
Charles S. Hill died Thursday of asphyxia produced
by gas escaping from burners in his chamber. Many
rumors were af1oat Saturday, and general run up
on the bank begun. An demands were met until
12.45 p m, when the surplus was exhausted and
the doors were closed. There is no doubt but that
Hill committed suicide.
HilPs operations were very simple, He borrowed
whatever sums he wanted of the bank, giving good
collateral at first. Then he stole the collateral and
disposed OF it, filling It's place in the vault with
worthless paper. When the collateral gave out, he
got President Runyon to sign notes with him and
between times he borrowed little money of him.
self on bis own notes The board of directors, which
it wasl supposed, made thorough examination
of the banks affairs once in each year, did not
in fact make anything like q thorough exami-
nation. 1t was of the most cursory kind.
Securities were brought in the directors
room by Hill who spread them out in neat
packages or loosely as they might be and one of
the directors checked off, Hill would say "Here's
security and the bundle would be put away again.
Not for instant did any of the board think of
package or the ntactness of any coliaterals. This
method of examination had been going on for two
years. The deficiency in Hills account. however,
Is not ALL The total deficiency discovered up to
last night reached the sum of $235 $3.50. The diff
erence amounting to $50, 100 is the amount due
from President Runyon. A portion of this sum is
counted on notes endorsed by Hill. The balance is
due securities which have disappeared and it is not
thought that all of Mr.. Runyonss property which it
Is understood is heavily mortgaged, will begin to
1t is not at all improbable that when the examina-
ton is finished, the amount of the whole deficiency
will be much larger, while it is feared that the re-
port Of the examiner will show still state of
affairs. The directors, none of them being expert
accountants, have not been able to arrive definitely
at many points and they have been compelled to es
innate or ignore some cases where losses will no
doubt be found, In fact we know to exist.
The box where Hill kept his own securities was
empty.
The notes in President Runyon's box were left,
but the bonds and negotiable securities were gone
A later despatch says that Nah on Runyon pres
hent of the National Bank of New jersey cut his
throat today in closet in the bank with a small
knife The act is ascrlbed to his supposed implica-
cation in the populations of Cashier Hill.
A later despatch says that the excitement over
intense The statement furnished by these officials
In June OF the current year showed paid up capital
to be $250O00, the surplus $125 900, and the un-
divided profits $78, 900. There has been nothing in
the public history Of the bank since that date to
cause any uneasiness TO the stockholders.
The suicide of the President while strengthen
ing the testimony of giant frauds in the man age
ment causes unlimited astonishment to the general
public.
This afternoon, a despatch from New Brunswick
state of chaos. Over 81 100000 were stolen by
Hill. Runyon was implicated In the theft of Hill,
and expected to be arrested when he took his life
The city was wild with excitement. Crowds block
aded the street where the bank stands. Acting
Cashier Campbell expected to be arrested for COM
plicity. Waller Carroll, a depositor, has cut his
throat. The mob threatens to burst open the bank,
and 10 only subdued by the police.