The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1886-03-24
a DEFAULTING TREASURER.
A New Jersey Savings Bank Com.
PEELED to Suspend Payments.

A New Jersey Savings Bank Com.
PEELED to Suspend Payments.
The New Brunswick IN. J) Dime Savings
bank has been compelled to suspend on ac-
count of defalcation amounting to nearly
$4,000 in it's accounts, the defaulter being
its treasurer, Arthur G. Ogilby, who is also
the city treasurer. When the defalcation
was discovered Ogilby was at home suffering
from an attack of acute mania
When Charles Hill, cashier Of the New
Brunswick National bank, committed sui
eide, year or more ago, after nearly ruin
ing the bank, the people said during the ex-
element that followed that Mr. Ogilby
was the only honest man left in
New Brunswick. He was then engaged
in the real estate and insurance business, and
was considered such an exceedingly upright
man that no position was thought too good
for him. When the Dime Savings bank got
run down he was chosen treasurer, and
under his management its deposits INCREASED Sae
from few thousands to over $166, 600.
The first suspicious circumstance connected
with Mr. Ogilby's management Of the banks
affairs occurred recently, when Assistant Sec
retary John WyckoR Of the bank reported to
Willard P VOORHEES,, one of the managers,
that Mrs. Ogilby had been taken i'll in church,
and reminded Mr.. VOORHEES, that Mr.. Ogilby
was also ill. The gentlemen then remembered
that the annual statement Of the bank had
not been ready on February when it was
due. On February 3 a statement Of the
banks condition was published: -.L-
No affidavit showing that the board OF di-
rectors examined the accounts accompanied
the statement. Mr.. Ogilby is one of the man
ayers, but his mania keeping him at home,
the remainder of the board began an exam
ination of the bank books. This work when
completed showed deficiency of nearly $780,
O0O
When the condition of the bank had been
ascertained, six of the managers sent q Pc
tition to Chancellor Runyon, saying that
depositors could not be paid unless the assets
were sacrificed. The chancellor returned an
order for the bank to cease receiving deposits
and making payments, and that the man
ayers send him q true statement Of the affairs
of the bank.
There has been no run upon the bank, and
the people of New Brunswick have accepted
the situation very quietly. A great many OF
them even sympathi2e with Mr. ogilby,
of great financial ability. It was
rumored freely about New Brunswick
that Mr.. Ogilby had been dabblng with
stocks in Wall street, and that the real estate
that stands in his name, which includes
number of valuable places in New Bruins
wick, is heavily mortgaged.
Mr. Ogilby has wife and two daughters,
both young ladies, who move in the best
society in New Brunswick. Mr.. Ogilby is one
of the State Riparian commissioners, a yes:
tryman of Christ's EpiscopaD church, and
has been secretary and treasurer of several
building loans, the last Of which was
the Citizens, which was wound up some
time ago. He is heavy stock
holder in the New York and New Brunswick
Steamboat com ,any. All political parties
had such faith in him that his selection for
the office of city treasurer gave universal
satisfaction A few weeks ago Mr. Ogilby
sent in his resignation as city treasurer, and
the authorities of New Brunswick were still
busy irving to induce him to withdraw it
when his present attack of acute mania WAS
announced