New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-01
BAD OUTLOOK FOR THE LENOX HILL
THE CASHIER PUTS ALL THE RESPONSIBILITY
FOR THE BIG CERTIFIED CHECKS UPON
PRESIDENT CHARLES E. WALLACE.

PRESIDENT CHARLES E WALLACk'
notice was posted on the Lenox Hill Bank ycster
day which said that Charles VI. Preston, suPeiIh
tcndent Of the Banking Department Of this state was
In charge and would make known as soon as possi
bic the exact condition Of the banks affairs. MI
Preston placed Henry c. Covell and W. II. Minis
bank examiners. at work on the books and the clerks
OF the bank assisted them. In the morning 1t was
supposed that the examination could be finished III
the afternoon, but as the examiners made their way
into the accounts they found that they had much
more complicated task than they had expected. IL
nally they announced that they could not have
statement ready before this afternoon or tonight.
They would not say whether they had discovered any
crookGIness, but is said that they frequently shook
their heads their work in way which Indicated
that everything not all right.
Charles +. Walack, president Of the bank. did not
visit all day neither could he be found at his ofce
No A. LibeIty-st The cashier, Ernest Van Zandt,
assisted in the examination Of the books. lie looked
thoroughly unnerved. lie insisted that he knew moth
ing about any attempt to rob the Lenox Hill Bank.
His statement TO Tribune reporter was as follows
e. had nothing 10 do with this bank until was made
cashier month ago Before that / had for four
years been cashier and stock clerk for Henry Auen
& CO.. No - Broad-st | knew Messrs. Pcll, Wal
lack and Never but none OF the others who con
nccted with the new management OF the bank MT.
Waacl was old friend Of mine, and when he asked
| accepted the offer.
"Mr. Waack accordingly proposed my name TO the
directors and / was elected. few days after took
the place | became III with pneumonia, and was at
home until four days before the present trouble began
am on that account not familiar with the Affairs
Of the bank as would otherwise be. The two cert
fed checks for $4,000 each which could not pay
Yesterday were not certified by me. but by the paying
teller Mr. Chadwick. lie acted under the orders OF
President Wailack, whose authority in the crcum
stance, was absolute. myself suppo-ed mat ne
collateral 10 pay the checks was IN tie president
hands 1 don think that the bank VIII le'ine bus
ness, nor q, believe that the Gcp0,tOrs VIII reccl',
"a great deal It viii take the oii'itl examination
hovcytr T., decide this. Nj Wallock promised nc
Yesterday that he would be at the bank al 80 oclocH
I'm, morning but ne did not come. lie ana ms a.
.,ciatcs also assured NE thar they would -GppS I"'
bank with fuud-. but they have not done So
Morris Good l1rt. the counsel for the bdih' vas Old,
Of the director, Who was asked to resign IN "N"r al
Nh, ,yudicat.s men. lie thou INT that English cap it
had bought the bank, and knew nothing about t'
present trouble. -...
Ouiy a few dcpositors called al the bank yester
DAY but some uf them VIEW extremely bitter VH'
Of them Edward Yrccand. the Deputy superintendent
II EulldinEs had $4,000 lu the bank tie savings "
Z, got $4,000 with which hc wished O. buy "a h9n-'
lu me Twenty fourth Ward. Tie p1ynt teller. NAG
wick certified the check but refused 90 give nm l'
money. although al the time the CASH was lh ll
.sf, Chadwick paid the smaller d"pIrt'l', tii I'
f.rrd all those whose chco,, were large O. TIE Ci-''
VINO told them that The money 10 pay them was "i
the way from downtown. ii, dee supposed 1t Vas