The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1890-02-06
THIEVES PENhEo Up

More Of the New York Bank wreokers
Under Arrest-Presldent Classsen Makes
. Statement = The Equltabls naak
Closed. s.s4s5
New YoRK, Feb I. ~ It appears by
the summary furnished BY the bank ex-
aminer that tho total theft from the
Sixth National Bank amounts to . trifie
more than 500, 900. The Ed uitable and
the Lenox Hill are liable to the extent
that they certified the checks. This viii
reduce the loss of the Sixth to about
$3.50, 600, provided the two State banks
meet their obligations. The bank ex-
aminer assured depositors that In his
opinion their claims would be paid in
full
New YoRK, Feb. las result Of the
failures Of the Sixth National and Lenox
Hill banks the Equitable Bank closed
its doors yesterday morning. In the
afternoon Cashier Van Zandt, of the
L~nox Hill, was arrested. George II.
Pell, the broker who was arrested
Thursday. was taken from Ludlow
street Jail Friday and arraigned be-
fora United States Commissioners
Shields. He was charged with having
| aided and Allotted the abstraction and
ernbezzlement of securities worth over
$3.50, 600 belonging to the Sixth Ma
tional Bank. At his request his ex-
animation was set for next Thursday At
IL q. M, and he was required to furnish
bonds for $685. 900. Five men offered to
sign his bonds, but they were not ac-
cepted, and he was again locked upin
Ludlow street jail. !.
Peter j. Claassen, president of the
Sixth National Bank, who, with others,
is charged with having wrecked that
institution, gave himself up late Friday
afternoon on condition that he should
not be compelled to spend the night
in Ludlow street Jail. He asserts
his innocence of any wrong-doing
He was taken before United
States Commissioner Shields, and the
warrant charging him with embezzling
and disappointing the funds Of the
Sixth National Bank was read to him.
An examination was set down for this
morning. He was permitted to take
rooms for the night with his coun-
sci at the Astor House. Prior to
| surrendering himself he walked from
his home in Brooklyn to tho Wall street
ferry and up Wall street to a
news agency, where he made state.
ment of his connection with the Sixth
| National. He had kept in hiding up ia
! the time of his surrendering and it was
! supposed that he had fed from the city,
rs officers had been searching for him
all day in vain up to that time. The
; United States District Attorney has
takon out warrant for the arrest OF
James A. Simmons, one of the alleged
bank-wreckers, who is said to have been
the master mind of the "syndicate."
In statement to the public Claassen
denies that he is . member of the syn.
dictate which purchased the control OF
the Sixth National Bank or that he
had met ex-President Leland until
the sale was completed. He clsims
that it was at the suggestion OF
Cashier Colson and with the consent OF
the board of directors that he arranged
to sell the $3.50, 600 in bonds held by the
bank, and that it was for the pur-
pose of providing more available
cash so that the discount bust
ness might be increased that
the step was decided upon. He denies
that any of the funds Of the bank were
used by the syndicate to pay fer Le-
lands stock and claims that had the
bank examiner not refused to accept the
certified checks offered by Pelli there
would have been no trouble.
A great many depositors called at the
Equitable Bank during the afternoon
| and were told that the BUSINESS of the
bank would be resumed in few DAYS,
that the affairs of the institution were
all right, and that it was only closed be-
cause an examination is in progress
The examiners worked all day at the
Lennox Hill Bank. No statement was
given out by the examiners at either
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