Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-02-01
THE SIXTH NATIONAL BANK.
The Broker Held for Triai-The President
Arrested.
fI,v tolecrapn TO mo Dispatch.l

tI,y telegraph 10 mo Dispatchl
Nrw YoRK. January 31.-GeOrge II. Pell,
,be broker who was arrested last night for
the part he took in disposing of the gilt;
cdoed securities of the Sixth National
Rank. was taken before United States Com
missioner Shields to-day and heldln e25.OOO
bail for examination on Thursday next.
Peter J. Classen, president of the bank,
for whose arrest warrant wasissued at the
same time rs was that Tor Pell, Is sun NJ
large. He has undoubtedly skipped. Tor a
CORPS of United States deputy marshals
who have been in search of him since early
last evening have been unable to locate
him. They spent many hours shadoWing
his home in BROOKLYN and his Office IN this
city. but without result.
1he Sixth National and benoX-hill BANKS
are still closed, and at 10 o'clock notice
was posted on the door OF the Equitable;
winch stated that that bank was closed
temporarily. An official statement OF tho
three banks is expected this evening.
Morris Goodhart, attorney for the lenox-
Hill Bank, rs well as director, called upon
the State Superintendent OF Banks. Mr..
Preston. this forenoon and SAID ne was
anxious 10 know the exact condition OF
affairs at the banks. a. well as If Cashier
Vansandt was criminally liable for the GER
tification Of two checks for $4,000 each
held bv the Sixth National Bank. Mr..
Preston told the LAWYER that he was not
sufficiently cOnversaut with the law on that
point and that he was consequently unable
TO answer the question just at present; be-
sides il was not a question, he thought. he
would be called upon TO answer.
1t is rumorcd that the cashier, Mr.. VAN
sandt, was being watched by the police,
and il was thought would be arrested as
4. t, "a. homo nTpDDre1
was ready. -,
Examiner Hepburn, when seen at the
Sixth National Bank at noon. SAID the
bank would not lose more than $3.50, 0Oo;
OF this amount 100000 was represented
by bonds and securities which had been
already sold, and the other S35O,0O0 was
represented by checks which are against
the Equitable and Lenox-Hill Banks.
New YORK. January 3l.-Peter ). Claas-
sen. who is implicated i'll the Insolvency OF
the Sixth National. Equitable. and Lenox-
Hill banks. was arrested this afternoon IN
Keirman's news agency, at Broad street and
Exchange Place, where he had been making
a statement. a.,
Bank examiners worked oil day at the Le-
nox Hill Bank. They expected TO give
some statement. but il was not found pos
siblc to tell anytime about the work until
a lato hour. When the afternoon had
nearly passed the shades OF the Sixth
National Bank. which had been down all
day, were suddenly pulled, the doors wore
opened. and Cashier Coiston, accompanied
bv three clerks aud policeman. stepped
forth. They carried a number OF old
yalises and canvas-bags. A carriage drove
no To the curb, and tho whole party
getting in. drove rapidly away. The whole
Transaction occupied less than two mln-
utes. and it was learned later that the bags
contained the remaining securities OF the
bank, which were being carried TO some
safe deposit by order OF Examiner hep,
burne. The reporters were not admitted
to the bank, and il Is with some dlfnculty
that the information was obtained. lie
sent word that he would probably finish
his work before morning, and would make
no statement 10 the press, but he would
Immediately forward his report TO the
Comptroller at Washington.
During the afternoon the bank was be-
sieged by depOsitors who were very
anxious about their money. Many ladies
were among them, and all were told that
their funds were safe. Several persons
offered themselves as bail. for George II;
Pell during the afternoon, bnt none could
give satisfactory evidence OF responsible
Nv. and AT O'Clock Pell was taken to the
Ludlow-Strect Jail again. Claassen was
brought before Commissioner Shield.
about o'clock this evening. He had
come over from Brooklyn this afternoon,
spent some time seeking lawyer to un-
dertakc his defence, went to the news
agency. where he dictated statement to q
stenographer, and then surrendered to the
Deputy Marshal, having first through an
intermediary stipulated that be should not
be obliged to spend the night in jail. The
Commissioner set his examination tor to-
morrow morning and Claassen, his coun-
sci, and the Deputy Marshal took quarters
for the night at the Astor House. Claassen
asserts his thorough innocence of any
wrongdoing in the affairs of the bank and
denies that there was any misrepresentation
or embezzlement.