New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-05-30
CLOSING A BANKS DOORS.
CASHIER HUGGARps METHODS EXPOSED
A DEFICIT OF $2O3. 900 DIscovkREp 'N
suAcKAMAxoS's ACCOUNTS.
Tar TELEGRAPH TO THE IRrbI 81 ~,

INV ,vrptEGRArH TO THE rRrBUNE.I
puu.nrIpuIA. May 29.-The Shacka"aNUn ~
state Rank at Frankford Road ana nm
49, This morning The situation OF TINS uahR Is Ia. up
uoo g. oay,oa the Kensington District and II hds
- hoo, astan,ishsd I'd few years. The haplitos ar a
not vet known The capital Is stateo W % -. ,ha
eurplus $4,000. The pre- Adent Is 1onn i' 80,
cashier T. L. Huggard 1t Is stated t"a' Vu -, -,
afternoon the auditing committee oi 'ne ,,r
pirecors met to examine the accounts OF 'he casno,
mn. .o-, f,r,har ,oes that when Mr.. Huggard was
asked To xplain certain matters he was taken III ~
was removed 10 his home, No. 1,72O. .North ini''o i
At The Investigation being continued suspioo" r,
nroused aud the other directors were suh'no -
was cstablis he'd that largeisums had been oo'l o 60
The cashier without authority. William buni.u COO
81. ,o.r.honts are credited with receiving Sllooo'
. and yoseph Conkliug a street clcanlngi co".'"o''
ass 0OO 1t is said that the latter had 10 a'co""
ever In the bank. The aggregate dehoi. 10 p
s20s 900 or $50 900 than the comoiheu 49,
and surplus of the bank There was no eh'ry ~ .U0
transactions but there were chechs' "0" "
posed the cashier had paid ,.u.
There was a special meeting OF the Board OF pIec'o.
called yesterday afternoon and IL iasteo "n "e "a,
George william Bumn, ex-nemDcr OF ocioo' No""V'
from the Eighteenth Ward, one OF the direc'o'' " ~
of the firm OF william Bumn & Sons, was present. 0
peired the firm for the money he had drawn anu us
attorney went 10 ProthUnotarys ONCE anu conlo'o
,,,a c,nent in favor of the bank for Sll5,OOO "ha
Bu,um is dead and was at one time president Vi .n1
hank The directors are all well known and respected
busuess men and they concluded that the bank couu hoe
under the circumstances honestly receive deposl's
ia understood that the stockholders Will pay on every
dollar OF Indebtedness and that there SlOoooo ocheo
mn II, the bank $4,000 OF which recei'cd withih
few days The bank was made one of the city deposit
aries last June and there deposited Win "'o"'
$4,000. Five GAYS ago tho Gas Trust had between
hi 600 and 81 o 600 there Thursday II drew OUT
Cashier Hrggard is still i'll and declared to be uncon
scious He is brother of John HugSaTu one VI s .no
t;uardians OF the Poor and has been cashier o
hank was established In 1878. 1t Is stated tnat Sr
Conking building large row OF HOUSES ~ oI
tbty Mr. Rose was only recently elected pfesueLto VI
tho hank Some OF the depositors are poor Working
people and the excitement among them Is lntene 50
erae and angry were the around the bank tlat
The Eighteenth District Police were paccu on speea
duty M the bank. There have been Notht tIea'o VI
assault upon the building. AT one time the thIoug was
so great that where railroad lines crossed tue cars o
neither line couId proceed. number of places OF
business in the neighhorhood are elosed ana sohe
nfactres owlrg to excitement a,nohg thclr eih
noves have shut down. Many or the pubic schoOI
teachers in the Thirtyhrst Ward have their quarerY
rI'nts depostc in the bank ana the school directors
weIe compelled order them to remain at heir
saving that nothing could be gained by going INTO tne
street and adding the excitement The long stAes
in the peichborho0d and the natural dePfcsslon VI
business In consequence nave ulaue lhe 0iasn i0i '
usually disastrous. = - ,,o,.
The ;irard Bank through which the shackamaxon Bank
did it's clearing Is fully protected so s
officials say. City Treasurer Irving says thal ihcc 10
100000 of The cys money in the bank aud that the city
has no security. IL is reported that William Juuge one
of the directors doubts that the bank VIII DC ape 10
resume and the cashiers books so mlXch mat noun
ipg can be made them For two days experts from te
fuccess Application Will be made TO put the Oahk ho
the hands OF a receiver.