New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-07-02
THE ARREST or RICHMOND j. LANE.
EXTENT OF HIS ALLEGED DEPALCATIoNs-nELD TO
BAIL-THE BANKS INTERESTED.

EXTENT OF HIS ALLEGED DEFALCATIoNs-nEL TO
BAIL-THE Banks INTERESTED
BosToN, July 1 Especial. The announces
ment this morning Of the mssppropriation OF funas oy
Richmond ]. Lane, president OF the Arlington National
Bank and tho Rockland Savings Bank has created big
scnsatiou especially in Boston and Plymouth County.
Mr.. LsEe regarded as model man In his own town
and county Mon and OF small means VINO wisaed
to invest savings were accustomed 70 dcrsr 10 ME-
Lanes Judgment, and in not few cases money was ln-
trusted TO his care.
Lane was much surprised when arrested at Portland
last night He went Portland. IL Is alleged. to In
yestigate The leather board enterprise from which he
stl hoped TO realize something He arrived In Boston
this morning IN charge OF Pnkertons detectives and on
the opening United States Commissoners Coure
was arraigned before Commissioner Halett The Gov
erument was represented by United States District
Attorney stearns. the defendant by B. F. Brooks AsA
French appeared for the Abingdon National Bank The
question considered was as TO tho amount OF ball.
and jeremiah Gatchcl National bank examiner, was
called to testify that point He spoke OF
the examination which he was making Into the
condition OF the bank and said that the complaint
ganst Lane had been brought az this time because
his from Boston was regarded as nirect lnu
cation intention to leave tue country Tue exan-
was opinion that The funds frauduen5y obtained
would amount to $4,000. or this sun $4,000 10 rep
resented by notes n different TO cover drafts
ON the redemption agent of the bank and about $9ooo
represents overdras The Dstci-Attorney aaksd tnat
hail Hxe $75 900, The Commissioner decided to
fix the bail at Y5O OOO and Mr. Lanes two brothers, Ev-
erett and Aonzo became his bondsmen In tue SUN re-
CURED -, a D., 1, ,,,, ,,r.,..,,nor. ,,,s
afternoon learned that Mr. Curry, tue member OF
the whc visits savings banks IN the east
part OF the State had made thoroush
OF tse affairs or tue Arlington SAVINGS Bank on May y
and IL understood tns pe found nothing TO prove un-
soundnes eit0er IN the deposits or the investments
made by that Institution. -
Tie extont to which the Rockland Savings Bank Is In
volved 10y the OF Mr. Lane rs Its president Is
still doubt, b II was clear that Commissioner curry
mud ground for warning at The tune OF MS viss
in the middle of May. to other savings banks IN
Norfolk aud Plymouth Counties. whlch presumapiy
were with the National bank, the state
ments OF the show tnst thsro was little
tendency to invest In Its stock There is' however
large investment IN the oase OF the Hingnan ihss
ton for Savings which holds at par P 300 In tnis STOCK
rated III value AT 81, sou.
President Lane to-day denied phaticaiy the charges
OF dishonesty and said ths most that the DARK wouil
lose 100000. This amount he had expended win
the knowi1dge aud consent Of the directors III he had
been uJerfered witn ne could witlin ie" weeks
have satisfactorily adj ustei the whole analr wltnout
loss 10 the Dauk. He reir-e. 20 talk aiont ~ trust
funds held by hlm In tts Washington tIeci estate -
The OF President Lanes disgrace sprea4 rapliy
through the OF Abingdon this mornng and before
the hour OF opening the National BANK crown Vi ue-
pos0rs had gathered IN the square opposite tue pu-
ing. As the bank was opened there was rusn
aud Cashier Farrar kept busy paying the dep0stor.
Farmers turned from tho cashiers window with both
hands full gold coin and left the Dlldlns WlIh puL
zled air, If they did not know what 10 90 win tner
money now that it was more IN tJelr pOssessOh
An Illustration of the confidence whch many, resi-
OF the town entertained TINS morning IN Lanes
rectltudr WAS shown by the fact tnat se'era large
manufacturers VINO obliged to draw from their
deposits pay their help did not tase OUT hoe tnah
was necessary to present demands Iney stu wiin-
held their sure Lane until hey could near MS side
OF the case Dut about 1890 a. M, when the nahk
sopped payment for lack o FUNDS, those VINO were ielS
i'm the backgund unable to get their money began TO
take different or the ll was announced tnas
payment would be resumed later rs SOON a. mclo
from Boston, put the runds were NOT
ing confidence in Mr. Lane fell The bank wi not re-
open present. There was small rnn on the AOiif1
ton ana ROckland savngs baks, chleny Dy "oucu' All
demands were promptly met.