The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-09-19
i RANK OFFICER ARRESTED.
rup Ulster COUNTY sATfNGS IN
'h s1yTU1IOy LOSES $4,000.

r....urer, james Z. Ostrander. saiA
Re n Defauiter-The Bank Secured
Ne His Dondsaea 60 tho Amount OF
$4,000 and Has sarpins ofs"oooso.
v,sosroN. Sept 1s.-This community was
.,.,,,ed to-day BY tie announcement that
ssmss r. ostrander, for many years Treasurer
', ,hs Ulster County Savings Institution and
cre Of It's leading citizens. was defaulter In =
large sum. At meeting OF tho Board OF Tru.-
10 a, tho institution last evening. which
M. until near midnight Treasurer Ostrsn-
n.r v.s deposed, and Nicholas L. Broadhsad.
~. Firstyice Presto emit OF the Savings Institu-
.,nr and for several years cashier OF the
Tircs,on National Bank. was appointed his
.uncs.sor The bank owes depositors over
40 900 600, which is mostly invested In negotia-
NJ. securities and first mortgages on real ss-
49, II has surplus Of about 100000. One
=, ,hs trustees OF the bank said that the JAM
..n uasbrouck estate and Augustus II. Bruyn
AZ. on Ostranders bonds for the amount Of
s,o 600 The amount OF the defalcation is ssti-
mated to DO $4,000.
IA soop as the bank was opened to-day de-
,nsi,ors began to flock In. principally women.
9TH their bank books, and the run continued
tor some time. but being paid In full they soon
hapsn to eturn with their bank books In their
hands. Tho bank kept open until O'Clock
,bis evening and will also be open until the
sams time tomorrow evening. The officials
Ara willing that .depositors should draw their
money, as there Is q large surplus on hand.
The bank has 100000 In New York city. which
v,n bs brought here fthe run should demand
4, Notices were posted on the bank to-day
that It would remain open until 8 P. N. to-
morrow, and later II necessary. for tho con-
ysnience Of depesitors:
Soisniy :2.uG0. Hs Mad two colorsd men 70
care Tor his, three horses and carriages. aud
watering places and lived high. His family
TSe house cont aims costly. furniture, and the
,sSen care OF. Persons who have visited the
fS anors s. wsie there III abundance. and every-
thing around had an air OF wealth and LUXURY.
ssars h.. BEEN
Ii ffst : q snS
i s I'll. 'osa b Ia
sa1 mos, H. ssS
member o. Of the Board Of Education. Of the
wss universally respected BY the community
snd regarded as safe and copssrvatiye
banker. 1t Is not Del0veu That no nRb specu-
lated in stocks but that his peculattons are
he result Of high living. He owns real estate
valued at about $4,000. which is heavily en-.
eumbered by MORTGAGES.
The bank officials have examined the bank,
assets. and as yet find none OF the securities
and none of the bonds and mortgages missing
The delaulter was arrested to-day by Chief o.
Police Hood on q warrant iseued BY MayoI
Kraft. charging him with grand larceny in the
s degree ,w9 ssn..
Recorder Hussey. and waived .examina
tion. He Was remandsd to the Gus
'tody OF the Chief until tomorrow. wher
an application will be made to admit bin ,tt
bail before Justice Edwards OF Hudson. who
viii hold q special term here; County Judge
other ties with both sides. refused to have an 2
thing to do with the case. Ostrander whom II
the Recorders Court appeared cool aud col
lected. and was seated In = chair enjoying I
fragrant Havana. He was driven to and from
the Recorders Court in his own private con
vsysnce. 1t was rumored around town th .
MI. Ostrander had tried to commit suicid.
from second story window. and. being frus
trAted succeeded In getting large butche
knife. which was taken away from him By hi
celored ooachman. Two policemen. tncudini
the Chief patrolled the beat passing his hous'
all last night. and Detective Cshill Is on tn
~,,<~, %