The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-09-21
THE WHEN
CASHIER GOULD'S STEALINGS.
He Sees No Hope of Escape, Calls His Carriage
and Tells His COachman 10 Drive to Jail.


Special to the Indianapolis Journal
PORTLAND Me-, Sept. 20--It is now thought
that the defalcation of w. E. Gould will reach
$145,0 ,000 The directors think the bank will not
lose over $4,000. The excitement over the
affair is intense Mr.. Gould is tiftytwo years DID,
and has ag ed twenty years within week. Be-
sides being cashier of the First National Bank
he is vice president Of the National Bankers AS
sociation; ALSO of the Portland Trust Company,
and a trustee Of the Marine Savings Bank. tits
said that he began embezzlng ten years ago.
Others declare that the first stealing was done
in 1882. There has been much that is peculiar
about his business affairs. He irst bought
very modest house on Carleton street,
for about So. 500. Later he sold it and purchased
an estate in Deering for some $4,000. This he
sold, and built his present residence at cost of
500 He has not been asked to give a bond
for many years. All Of his original bondsmen
save his father-in-law, Neal Dow, are dead, and
Dow can only be held for 500, 900 of the original
so, 900. if at all In a similar case here, last
spring, it was decided that the original bonds
men could not De held.
The discovery of the defalcation is said to
have come about as follows: About ten days ago
Gould went to New York. During his absence
in his affairs. He Informed an official.
who, in turn, notified the direct
ors, and they summoned an expert.
The latter soon found a $4,000 shortage.
The directors were astounded. AS Gould was
absent and large amount of the banks collat-
eral was gone also, they supposed he had skipped
to Canada. Investigation showed that the miss
ing cashier WAS in Now York. Instead of secur-
ing his arrest, the directors sent cautiously
worded telegram summoning him home to ad
wise concerning the investment of funds. Mr..
Gould seemed to have no fear of the possibility
of discovery, and promptly returned Governor
Robis met him in Boston and accompanied him
to this city, in order to prevent the least oppor-
tunity Of escape. After reaching home, and while
the investigation was going on, the doomed
cashier was kept IN ignorance that he had
reached the end of his rope, and the knowledge.
which came to him gradually, was binding
surprise It was then too late to escape, and
early last week the end came. Tie fallen man
had, at the last, desperate courage that sus-
tanned him. He ordered his carriage, and gave
to the driver the order "Go direct to the Jail.
He had at that time formed the resolution of
giving himself up and getting relief from sus-
pense The order was obeyed, but on the way
he met friend to whom he told the terrible
story Of his fall. The gentleman said to him:
'But you can't go to Jail; no one has made the
slightest charge against you"
Mr. Gould then drove about the city for
time, and then said: "Drive to the bank" At
the bank he was met by the directors, and at the
suggestion of one he went to the Falmouth
Hotel, took room, and was seen and consulted
with in regard to the disordered affairs of the
bank All week the directors worked on the ac-
counts, assisted by an expert but instead of find
ing an improvement, affairs grew worse, and at
last it was plain that close to 100000 had been
lost Then the directors laid the case before
Hon. Wm S. Putnam, who told them that
Gould must be arrested. and that a further
neglect on their part to secure his arrest would
make them liable for the loss. Mr.. Putnam
limited that Gould could hardly have carried on
such operations as are alleged without some one
else being implicated, and his insinuation has at
tracted some attention