The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1889-07-06

and children were very nice. Hoyt lived
well within his means, and his pretty little
cottage was well but plainly furnished,
and the style of living was quiet.
A COMPROMISE LIKELY.
Mr.. Syms could not say whether the di-
he did say that might be done. They have
every object in making the compromise,
as If they prosecute they will lose the
amount for which they are not covered
by bonds, whereas they will get the'whole
If they effect compromise.
Hoyt could easily procure the money
and it is expected that at some future
meeting of the Board the matter will be
fully discussed. Hoyt was great favor
lte with them and if he makes any appeal
they may help him out by listening to ais
proposals for q compromise.
How long back did you investigate the
books?" | asked
"a few days. replied the president,
shortly
said that Hoyt had been in the bank
for twelve years and might have been do
ing this all along.
Mr.. Syms then said that the books had
been balanced up and all the certificates,
stocks, bonds and money had been
counted, and by that means the amount
of shortage had been arrived at. No
thorough examination of the books had
been made and only those in which Hoyt
made his entries had been looked into. :.
By those means the modus operand1
OF his peculations had been arrived at.
Whenever Hoyt knew that an exalnina-
tIon OF his books was likely, he altered
them in such manner that detection
was impossible.
WERE HIS SpECULATIONS KNOWN?
sfTho hnn1rc al ct of tha
last examination of the United States EX-
aininer, or, at least, he said they were,.n : .
responded the president. [ asked him II
from his remark he intended to imply
that the examinations were only superb
cial. NO." he said 1.-THE examinations are
generally very thorough, and most of the
men engaged in the work are competent
auditors"
Mr.. Syms was obliged to admit that the
amount of Hoyt's thefts might possibly
be more than at present stated, but ne
did not think so, as the amount they had
discovered missing was exactly the same
as the teller confessed to.
1t is rumored in the office that his Wall
street operations were well known and
We're no secret among the bank clerks.
None of the directors knew of it, however,
as an immediate investigation would
have been made.
AN II. T.. & I. CO. BANK.
The First National Bank of Hoboken
has paid up capital of $4,000 and sur
plus something beyond 100000.
The Hoboken Land and Improvement
Company, the Hackensack Water Com
pany and the Hudson County Gas Light
Company are heavy depositors. Colonel
Stevens, the president of the HobOken
Land and improvement Company, is also
treasurer of the Hackensack Water Com
pany; and S. B. Dodd, secretary of the
ia oh nd o1,1 TY,,Y. ont
pany, is also president of the Hudson
County Gas Light Company. Both gentle
men are directors of the First National
Bank of Hoboken.
During the Grant-Ward panic these
three companies had considerably beyond
100000 deposited in the First National
Bank-more than enough to cover the
amount due the bank from the Metropol-
tan Company, through which the First
National did all it's Clearing House busi-
ness, and the latter of which was luckily
saved by the New York Clearing House
stepping in and rendering funds available
which otherwise would have been hard to
get at.
HEAVY DEPOSITS MADE YESTERDAY.
When Colonel Stevens was asked last
night by THE JERSEY CITY NEWS repre-
sentative if the First National Bank of
Hoboken was backed by the Stevens es-
tate he said he did not understand the
question. In the first place there was no
such thing as the Stevens estate, and in
the second, he did not know whas was
meant by the term "backed." 1t was nee
essary for director to have several thou
sand dollars of his own individual ac-
count at the bank. He hardly knew
whether his amounted to that much His
brother had few thousand dollars de-
posted there also, and his wife had q little
''pin-money" account, probably $1,000
The Hoboken Land and Improvement
Company, however, practically deposited
all it's money with the First National
Bank of Hoboken, and the company
would not see the bank go in hole. It
made two deposits yesterday, one amount
ing to $10,000 the amount of the other de-
posit the Colonel could not state.
In response to further enquiries he
stated the $4,000 were on hand. The
cashier wanted to know if he should take
it over to the bank and was directed to
do so.