Morning journal and courier., 1889-05-27

his feet again. But in essaying to carry the load he tripped and fell into the grave error
 which has led to his arrest on the ground
 substantially of having been in oollusior | ately discounted by 8 bank. MT. Bas l sett's error was 8 grave one and no one in the community, but express much regret for him and sorrow that he has fallen into this serious trouble. MT Pratt, the New York merchant on whom MT Bassett gave drafts many times, was 8 slate dealer and manufacturer of school globes and 1 is well known in this city, having years ago beenIin the hat business at the old Corner Hal Store (corner ofChapsl and State streets) witt Charles A. Bradley, the caterer, brother oi Cashier Bradley. His place of business if l on Little Church street, New York. He hal | 6 contract for furnishing slates and other 1 school supplies to the Brooklyn schools. He formerly resided on Gill street in this city and now resides on Park street. He is sup. posed to be, as far as known, possessed oi considerable means, but how much could not
 be stated. He was, from information held by the bank, considered good, but not for large amount of money.
 Gov. Bigelow when he assumed charge ot
 the bank as it's president did so under pro-
 test, not having the time to devote to it, but
 MT. Bradley had been so long the cashier and
 so efficient and trusted that it was felt that
 with the necessary oversight which Governor
 NSAAA
 prosperous. The concealment in the case
 and the misuse of the banks funds escaped
 the detection of the cashier for quite per
 lod, but ought not with customary overs
 sight to have remained hidden so long as
 represented. The concealment, however, was
 would be very difficult to detect.
 Gov. Bigelow when asked if it was true
 that the discovery of the matter came from
 the bank examiner at New York said that
 this was probably erroneous and that State
 Examiner Dooley first discovered the errors
 in the accounts in his examination last week.
 Everywhere about town much sympathy is
 expressed for MT. Bradley, as his error
 came chiefly from his too great lenienoy to
 shield junior officer and the hope that the
 whole matter would be strengthened out
 without the loss of cent to the bank nRd
 without any publicity. His geniality, his
 urbanity spdl-Gn social nature, his devotion
 to friends, of whom few men in the city could number more, his public spirit and readiness to do anything in his power to benefit others, all rise up and speak for him, now that shadow has fallen across his life,
 and brought its darkening influence over his
 hitherto happy surroundings and home
 Trusted, respected and esteemed by all, with
 large family, all filling honorable places,
 and with no bad habits, no extravaganza in
 living, but living simply and urfostentatious-
 ly, the blow that has fallen upon him is felt
 by his large circle of friends. For Mr.
 Palmer also much regret is expressed. Mr.
 Bradley has been in the service of the bank
 for twenty-five years, while Mr Palmer has
 served the institution for upwards of twenty
 years.
 MT. Bradley, to friend who called upon
 him Saturday afternoon, gave his state
 ment of the case. MT. Bradley said that 8
 year and half or two years ago, Assistant
 Teller Palmer was placed under obligations
 to John B. Bassett, the Chapel street hard
 ware dealer. MT. Bassett had loaned MT.
 Palmer money and helped him out in his
 patent medicine business. Mr. Palmer was
 manufacturing liver pills and hair restorer and thought he had something that would
 bring him fortune. In return for money lent to MT. Palmer to advance that business.
 MT. Bassett asked MT. Palmer to do few favors. Drafts which Ar. Bassett had were cashed at the bank by MT. Palmer, and notes discounted, all without his (Bradley's) know ledge. MT. Bsssett did considerable busi- ness with the Pratt Crayon company of New York, and many of the drafts were on that house. The Pratt company was considered to have the best of credit. and though Palmer knew he was doing wrong cashing the drafts without allowing them to go through the hands of the board of directors, he thought everything would come out all right, because of the Pratt company's standing and Mr. Bassett's we'll known business integrity.
 This thing had been going on for a 2. year, when one day. when the bank examiner was expected, MT. Brad ley took it into his head to examine MT. Palmsr's books. He was thunderstruck to see that about $50, 900 worth of paper had been cashed by the bank and sent out for collection, none of which he had ever seen MT. Bradley went to Palmer and asked him what all this meant After a time Mir. Palmer admitted that he was cashing paper to accommodate MT. Bassett. MT. Bradley told MT. Palmer that he would have to tell President Bigelow, but Mir. Palmer begged Bradley to say nothing, that he would lose his position, etc., and besides that Mr. Bas- sett was as solid as @ rock, financially, and would pay every note when it became due.
 MT. Bradley listened to all this, and then called upon MT. Bassett. Mr. Bassett con- yinced MT. Bradley that he was worth $75,- BOO. His business on Chapel street he con- sidered was worth $40, 900, and he had real estate valued ct nearly as much more. Mir Bassett proved to Mir. Bradley's satisfaction that he was all right. l
 Mir. Bradley reported to Mir. Palmer, but | old him that he must quit right there. Mfr. | Palmer promised to, and this, Mr. Bradley | 'ays, prevented him from making full dis ! closure of the affair to the directors. Some | 'f MT. Bassett's notes were coming due and | were being paid or renewed, and matters | were mending but little. Then came Bank | Examiner Doolsy and the disclosures
 MT. Bassett brought his note for $16, ,00O to | he bank Wednesday and had it cashed. He | lealt with the directors and not with Mir. Bradley. The bank demanded security, and, | yoing to Lawyer John w. filling, he there | 'igned mortgage deed assigning his right to | .hree pieces of property on Shelton avenue | and one on Butler street to the Mechanics | bank security for the $16, 600 note.
 Said another bank officer last night: There I was evidently too much of what is termed | parlance "kite paper" in the case, paper | which is constantly in the air and does not | alight in the banks treasury in the shape of | gold or it's equivalent. Mfr. Bassett had in- crest on his mortgages to pay and had inter. | ,st on his drafts to pay while they were ''in | he air, !" but what became of all the s5O, ,OOO | lard cash he got from the banki there's the | mystery. It is puzzer. Mir Bassett has a | lost of friends. Long has he been before ls an enterprising ahead Chap l street merchant. His hardware tore is patronized extensively, not nly in the city, but from all the country owns hersabouts for miles around. He II wells in a handsome but not very expensive louse on shelton avenue surrounded by trees vhich he planted, and the grounds occupy he whole of block. He formerly Was a di- ector in the Centerville horse railroad, but old out his stock some time ago.
 Said a prominent gentleman last night re- arding MT. Bassett, ,one who knows him well nd intimately and has for years: "I think it ill all come out that MT. Bassett sent his otes and drafts through the bank honestly ! nd without any collusion with the bank off als, and that he was not aware that the sper went through the bank illegitimately l think he has acted in good faith in the case Ie is 8 man of honor through and through nd would not stoop to base transaction. I link this will all be shown to be as I state due time.
 The arrests of MT. Bassett, MT. Bradley ad MT. Palmer were made by the United tates authorities, District Attorney Sill eing the mover it the matter at the instance the bank examiner. Merchant John E. assett, the hardware dealer, was the first, ,llowed by those of Cashier John O. Brad y and Assistant Teller o. W. Palmer MT. assett was released on 5000 bonds given ? Mir. 0. 8. Morehouse of Futile, Morehouse !
 Taylor. He was charged with aiding harles A. Palmer in embedding | lnds of the Merchants' bank Cashier l radley was released on $3, 900 bonds, given 1 ? W. H. Thompson of Fair Haven, and was larged with falsely swearing to fraudulent 1 nancisl statements of the banks condition. l ssistant Teller Palmer was arrested on the l rious charge of certifying to a check for | | I6. GOO on Ehe Merchanta1 hank dec1aripo | :.