The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1889-07-06
lead TRUST MARGINS.
They We're Frank Hoyt's
Ruin and Swamped
Him Quickly.
he TOOK ARRANGEMENT CoOLLY.
Bail Fixed at $15,O0O---I ---Intimations
Of Compromise.

FRANK Hoyt, the defaulting cashler OF
the Hoboken First National Bank, was
arraigned before United States Commits
sioner Muirheid, at his Office in the First
National Bank Building, in this city, yes
terday afternoon.
About half-past three o'clock he came
into Mr. Muirheid's office, in the custody
of Deputy United States Marshal Pat
McCue. He was faultlessly attired in a
dark brown sack suit, which fitted his
tail, slim figure to perfection. He went
into the inner office with a man
ner as easy and unconcerned as
though he had come to consult
Mr.. Muirheid upon some legal business
He took a seat near the Commissioners
desk with a nonchalant air, and the only
uneasiness he displayed during the entire
proceeding was when he discovered that
several reporters were regarding him at
tentively. Then he quickly turned in his
chair and nervously stroked his black
Dundreary whlskers.
Commissioner Muirlleid glanced at the
warrant handed him by the Deputy
Marshall and in a few words told Mr.
Hoyt that he was charged with making
false entries in the books of the First
National Bank of Hoboken. Then he
asked him if he had anything to say.
DAIL FIXED AT $4,000.
SIS it necessary to say anything here?"
Hoyt asked, with a nervous smile.
'Not at ALL replied Mr.. Muirheid, and
then Hoyt asked if he could be released
on bail Mr. Muirheid replied that he
what the bail would be, replied S15, 600.
Hoyt said that he had sent for some
friends in Orange and New York who, he
thought, would go his bail, and asked
whether, in case his bail did not arrive
before Mr. Muirheid went home, he might
spend the night at his home in the Gus
tody of the Marshal. Mr.. Muirheid re-
piled that he had no discretion in the
matter, and Hoyt must make all such ar
rangements with the Deputy Marshal, as
Hoyt was in his custody and he was re-
sponsible for his appearance when
wanted.
Mr. Aluirheid continued, saying that he
would leave word where he could be
found up to eleven o'clock in order to
take the bail when it arrived.
THE FORMAL COMPLAINT.
Hoyt then asked to see the formal COM
plant against him and Mr.. Muirheid
handed it to him. He read it through
it back to Mr. Muirheid with another ner-
yous smile, he said:-"1 guess | can eat
something now Can the officer take me
to restaurant
Mr.. Muirheid said that he guessed so.
and Hoyt and the Deputy Marshal went
down to Taylor's Hotel.
The formal complaint against Hoyt was
made by Samuel Il. Syms, president of
the bank, and simply charges him with
defrauding the bank by false entries in
the books. This is the usual charge made
in all cases of this nature, as the charge is
easier to prove than that of embezzle-
ment.
Hoyt was unable to find bail and spent
the night in cell.
LEAD TRUST MARGINS.
The embezzler met his doom by putting
up margins on Lead Trust certificates
The fiuctuating condition of their market
has made them a popular medium of
speculation.
A prominent director of the bank said
to a JERSEY CITY News representative
last night that he did not believe (beyond
probably a few hundred dollars) that the
period of Hoyt's tampering with the
funds extended back more than five or
would systematically pilfer u few hun
dred dollars at u time. No doubt he had
at first risked a sum which he could
easily have covered. Then several rapid
up and down shoots OF the market left
him in hole. The mild fluctuations
brought on the spec" fever, and making
desperate efforts to save himself and his
honor he gave several mad plunges in an
unfavorable current, got beyond his
depth and was lost.
The discovery of Hoyt's crooked trans
actions was not made by the Bank Ex-
aminer, whom my informant stated he
did not think had visited the bank inside
the last five or six weeks-though of this
fact he was not positive.
WROTE TOO MANY DEPOSIT SLIPS.
One of Hoyt's assistants, either young
Gus Crane or young Kimball, was first
surprised by observing the unusually
large number of deposit slips in Hoyt's
handwriting m in one day. Hoyt's method
was to withhold a number of deposit slips,
whose owners were not in the habit of
drawing close, then put them back in
bulk.
AS to my question why the directors
had not examined the books further back
than six months my informant said he
presumed the books had been thoroughly
gone over before the 1st of last January,
and there was no necessity of examining
beyond that date.
Practically Hoyt was both receiving
and paying teller, which assisted him ma
terially in his peculations, although the
receiving teller in almost any bank can
do for while the same thing Hoyt did
THE BANK WILL LOSE.
After all, the First National Bank of
uoboken will have to lose $4,000 OF the
populations of their late teller, Frank
Hoyt.
and it was only after deal of persuasion
and many refusals that could induce
him to speak at all about the matter
His manner was petulant and it was
almost angrily that he said that Hoyt's
bondsmen were only responsible for
$4,000 and that the bank would lose the
other rs. 900 which are missing.
.sWho are his bondsmen? asked.
Mr.. Syins refused to say .'It would do
no good.n he said, ''and might do harm
They are two eminently respectable and
responsible business men of Orange. and
It is expected that their bonds will be paid
up next week"
In reply to my question Mr.. Syms said
that Hoyt had nothing on which they
could lay their hands to recompense
themselves. His account at the bank
would be perhaps $50 and that would be
left for the use of the family. His home
was. from what have heard, said the
president, lone of the most comfortable
gou could imagine"
Mrs. Hoyt, Sr., is one of the incest old
ladies' you could set eyes on, and his wife