The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1884-06-14
THE DEFALCATlON MANIA
Strikes a Cecil Man cashier Hall
$4,000 Short.

IL has been discovered that Cashier J
r. Hall Of the Citizens National Bank
of Midd!etown, Delaware, 4 native of
tai. county, is heavy dc;auitcr ana has
resigned his position. The exact amount
of his defalcation has nat yet been learned
by the directors, but IS authoritaiiveIy
stated that it will not exceed SO. 600
Cashier Hall has confessed his dcGalca-
tons to the board OF directors and has
made a statement setting forth the time
and amounts of the stealings. This state
ment has been invt StigatcG and cninplrcd
with the books OF the corporation and
has proved to he correct, and there is 10
reason t. heiievc that there are any other
aunis taken that are not stated by til
cashier. The discovery was na;r Tn
Thursday of last week and a conference
OF the directors Was at once held The
board took the matter in hand, au,i made
Il thorough investigation with the results
as stated: that about $50, G0G IF the banks
m"Eey had been stolen by the cashier.
The thefts Of the money had been conn
mitted III systematic manner, covering
a peiiod of many years.
The stealing was rather ingeniously
done which made its detection in a meas
ure accidental. The money WIS drawn
from the bank deposit in Philadelphia.
by the cashier, and was not entered pu
the books of the Citizens bank. The
quarterly statements made by Hail and
sworn to were falsitcd L, correspond with
the books. and to add 10 the crime of
| theft is that OF perjury, also an indictable
offense. The dcCaultcr, il is stated, Gov
| cred up his tracks most efl'ectual!y
through manipulation of the accounts,
and through this means Was able to avoid
detection and continue his thiey:sh work
for several years. Afteg Halls state
directors examined the deposit III Phla
delphia and verified the chief items of
| the confessed theft
Hall stated that he had been dealing
i'll stocks on margin and had lost all
the money taken from the bank. lie
however, owned real estate valued at
about half the amour. al his stealjurs
! WHICH he transferred to the bank. He
has also good sarcties on his bond and it
is not likely that the bank will be ont by
the defalcation. 1t has, however. a SUP
nlrfs IDt, HE tnt : j
talGation and the directors have person.
ally pledged themselves To protect all
depositOrS, SO the alarm that the news of
the defalcation at first created has sub
sided and the business continues as usual.
Hall has not been arrested, aud il is no.
ypt determined what disposition viii be
made OF him by his sureties,- as he great.
est sympathy is felt FOX his family. He
is now on his faT!A in this county.
Hall is about 20 years Old and has been
connected with the bank for many wears,
filling the position which he has thus
abused about twenty years. He IS :, sau
of the late Levi Hall, of th:z oounty--in his
day : citizen al the most unirapcachablo
1haraoter-and owns a farm here known
as 'Brick Hill valued at &I2 600 to
| Sl7,0 This be has also make over to
the bank.
He was member of the presbytcg:a.
church and was esteemed as al s.Gno.a.
Bile and strictly upg.gl.s ."4u. socially
he wGs ,t"iso prominent and had large
circle Of warm friends. There was never
the slightest suspicion attached 80 his
ministration Of the bank 5 affairs, but on
the contrary he enjoyed the confidence
of the directors and the public ia b..
fullest sense. lugana s.cvCsA<..n IS al
yLe oo.togl II It all. it j.: fnmurcd on
the street that the directors of the bank
knew Of llali's speculation long ago, but
as he was then successful and making
large profits the little irregularity of
using the banks money was wink4d at