The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1886-09-21
Mr.. couId's Bondsmen and the
Amounts They are Likely to Pay.

During yesterday the directors of tie
First National Bank took no further steps
towards the settlement of its affairs They
had reported to the Comptroller OF the Cur
reney, and were awaiting the presence OF
the National Bank Inspector, and pos
sibly of special agent of the Comptroller.
Last night it was learned that Bank Inspee-
tor Wiswell would be in this city at
o'clock this morning. 1t has been expected
that at any time the Comptroller of the Cur
rencs might order The United States District
Attorney to begin criminal action against Mr..
Gould. But up to last evening Mr.. Bird had
received no such orders, though he some
what expected them.
There is no reason to suppose that
/ the loss to the bank will exceed $751;
900, as stated in the PRESS yesterday
morning. That is the estimate which
the directors make. There is posi-
bility that it may be less. The whole amount
of Mr.. Gould's defalcation, as near as the d-
rectors have been able to determine is very
near $137,0 900. Mr.. Gould has turned over
to the bank property which ought to be good
| for $4,000.
Mr.. Gould was cashier of the old Interna-
tional Bank in 1868, before that institsnnttiion
was recognized as national bank, and has
continued to hold tslh1at position during all the
| years that bave since elapsed. On account
| OF the firm belief that has prevailed as to his
Integrity and high business ability, his bond
has not been renewed for many years. The
original indorsers upon that instrument were
Hon. Neal Dow, a. K. Shurtleff, st. John
Smith and Robert Holyoke. The last named
died in 1878, Smith in 1379 and Shurtleff in
1880, leaving only Neal Dow as living sign
| er, and he is only held in the sum of $4,000.
1 The estates of the other parties have been
| generally settled up, but as the bond was an
unlimited one the heirs may be held for
| whatever losses the bank may suffer-
| Mr. Gould's bond was originally good for
| $4,000. At present the bond stands as fol-
l lows:
Heirs Of St. John Smith. ......... 5000
Heirs Of A. X. Shurtlef ............ 5000
1 dolyoke nelrs.-.-... 10000
Gen. Neal Dow is good for his amount. 1t
may be, too, that the heirs of St. John
Smith and A. K. Shurtleff can be holden for
the $4,000 against their names. In such an
| event the amolnt realized from the bonds
men will be $4,000. Thirty thousand dol
| lars more from Mr.. Gould's property will
| bring the sum which the bank hopes to
recover up to $4,000. In such case the
| loss to the bank will be nearer $4,000 than
$751;, 900.
The first intimation which the directors
received that anything was wrong about the
bank came from two clerks. They became
suspicious at the large amount of Mr..
| Gould's paper which they were handling,
| and communicated their suspicious to the
| directors. The examination conducted last
/ week was the result; and the result of
that examination was the confession
of Mr.. Gould When he knew that his
defalcation had been discovered he was
completely unnamed at the thought
of the distress the announcement
would create in his family. His
aged father and mother were not in
formed until Sunday. On that day in the
midst of his distress, and with the full
knowledge that the story of his defalcation
was to be spread abroad before many hours,
he was careful to have returned to neigh
Dor book which had borrowed.
Mr.. Gould is now at his home on State
street guarded by an officer. He is COM
pletely Frustrated and has been confined to
his bed since Saturday. He talks calmly and
attempts no excuse of his course. The d-
rectors say that he is doing all in his power
to help straighten out the affairs of the
bank.
Mr.. Gould began to overdraw his cashiers
account about two years ago. He dealt
largely in stocks with the money which he
took from the bank, but the character of his
speculations is not fully known. Two weeks
ago he went to New York on business. After
he had gone, the fact that he was defaulter
came to the knowledge of the officers of the
bank. 1t was feared that he had gone to
Canada to escape discovery, but it
was soon found that this suspicion
was unjust Mr.. Gould was summoned
back and answered the summons promptly.
He arrived from New York week ago
last Friday. He was then informed by
the directors of what had been discovered
against him. Mr.. Gould at once made full
confession, and proposed to surrender him
self into custody. He was told that his as
sistance was needed at the bank in straight
ening out the accounts. Mr.. Gould readily
took hold and assisted the investigation TO
the utmost of his ability. He was at the
bank the most of last week, but was kept
under surveillance, although he had not indi-
Gated the slightest intention of absconding.
As a financier Mr.. Gould is credited with
being bold operator, and it is his dashing
way of doing business that has undoubtedly
caused his downfall. He has dealt largely
in the bonds of Western water companies
and stocks, which have generally been look
ed upon by capitalists as good Investments,
and in many of these transactions is believ
ed to have lost amounts which, to make good
he has used the securities of the bank. In
this way the bank became involved in what
Mr.. Gould undoubtedly intended should
prove but temporary loan. One story is
That's double set of books has been kept of
his accounts at the bank, one showing his
account with the bank to be largely over
drawn, and the other showing balance in
his favor, and this was the book shown to
the Bank Inspector at his regular investiga-
tions. Some time since prominent bust
ness firm in this city received a letter from
Western parties inquiring regarding Mr..
Gould S financial standing. In reply it was
stated that he owned no real estate, that the
tax books of the city showed everything of
that kind to be in the name of Mrs. Gould.
and as regarded the amount of his personal
estate no definate information could be CIV
en-. Notwithstanding the fact that his ele-
CANT new residence ON State street was
owned in Mrs Gonld's name, she has trans
ferred it to Governor Robbie in trust to secure
it fhe bank from such loss as its value may
cover, and Mr.. Gould has unreservedly turn
ed over all his property of every character |
to Governor ROBBIE for the benefit of the |
bank.