Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1884-09-12

Downfall aud Death of il, President aud
Cashier.

Downfall aud Death of its President aud
Cashier.
\ Ncw Brunswick, y. j.. despatch says;
Mnhlou Ruuyou, president of the National
bank of New Jersey, cut his throat from
ear to- ear at ten O'Clock Monday morning
at the bank. II is suspected that he was
connected with the dcfalcation Of Cashier
IIill. Hills operations were very simple.
He borrowed whatever sums he wanted
of the bank. giving cool collateral at first.
Then he 81 ole the collateral and disposed
of it, filing its place in the vault with
worthless paper. When collateral gave
out he got President MahIun RunNon
to sign notes with him, and between
times he borrowed Il little money of
himself ON his own notes. The board OF
directors, which il was supposed made Il
thorough examination of the banks al
fairs once Il year. did not, in TACT make
anything like Il thorough examination.
II was of the most culsOry KIND. me Sc.
curitics were brought into the directors
room by Hill, who spead them out in neat
packages. or loosely, as they might be, anu
as one of the directors checked OH lllll
would say, "llcrc'S the security and the
bundle would he put away again. Not Tor
an instant did any one of the board thlhk
of questioning Hills word as to the CON
tents of the packages or the intactness of
any of the collatcralS. This method OF cN-
animation had been going ON for two
years
Examiner Shelley has discovered de
ticit exceeding II .OO0.OOO. In addition To
his theft at the bank. Cashier Hill robbed
the Ira Voorhees, estate, of which he was
custodian. of Sl9OOO. and the q. Is. Adrian
estate of $4,000 The crash in Wall street
i'm MAY last took the bulk of Hills steal
ings. RunyOn was willing tool i'll the
hands of the cashier vino had the run oi
the institution. At 9:l5 Il. IN. President
Runyon drove up to the bank in his car
riagc. He was accompanied 10y his two
young daughters. Good 10y, papa. said
julia. the eldest, reaching out of the car
riagc. as Mr.. Ruuyom descended to the
pavement. II hope all will be WELL
IF You do not see me before night, hc
responded. tell mamma ! Will stick
to the bank" Twenty minutes later he
went into Il room occupied by the dlrcc
tors. and began reading IL New York paper
containing Il story of his completely IN the
banks downfall. \ deathly pallor spread
over his face. and he exclaimed. MY God
what will my children do" Passing Il
handkerchief over his brow. he threw IN,
paper into the lap ut Director Steddard
and cXCIlSing himself, went into he toilet
room. \ minute later the sound al Il tall
was heard. The directors rushed to the
closet and discovered the body 81 RunNuu
on the moor. ijtpWl was bOIlHI from 4
gaping wound in his throat. lie hnd ais,
cut his wrists deeply. the blood squirting
against the wall and ceiling. The thou
sands of people outside were hurrllird
''r;huil we raid the bank 90 was the QucS
tiOu which agitatcd the agOniAcd drpusl
tors. Farmers from the country i"inc'
the iHronG and shouted for their money
l'ur police thanked the streets, and Will
difficulty qurllcd the rising disturbance
NEW BErN-WICk. y. j.. Sept. 9.-pcO
pie have haunted the National bank %
New Jersey since early this morning bu
the payment OF he deposits i still rciue
ed. ] ne runOr of Director lctSulI : drall
was false. He was overcome by heat, bu
is still alive. l.. d. .Iarrard, formcrl,
postmaster here. vino is now in th
Trenton Jail. was 50 affected 10y the &c
culrcnCc OF the past few days that he ha'
il hcmorrhagc, but is recovering. Tn
city is paralyZcd, work is suspended
stores closed and industry 1T a standStill
The directors of the bank are to he al
rested.