Los Angeles herald. [volume] (Los Angeles [Calif.]) 1890-1893, 1891-10-04
BANK WRECKERS.
Two of Them Jailed at Kings
ton, New York.
The Ulster County Savings In
stitutiOn Closed.
DepOsitOrs Very Wildly Excited and
Threatening Violence.
The standiford Bros Gigantic Steals at
ChrismaD, Illinois - President
Dili's Dilemma at Clear
field, Pa.
Associated Press Dispatches.

hINGsToN, N. Y, Oct. 3.-The Ulster
County Savings institution has closed
Its doors, and is in charge of Bank
Superintendent Preston. The examin
ers at work since Tuesday, have found
already that $46S 900 has been stolen BY
Treasurer Ostrander and Matthew
Trumpbour, assistant treasurer, and il
Is feared the stealings will reach over
that amount. At midnight last night
Superintendent Preston swore to com
, plant charging Trumpbour with per-
jury, in swearing to false statements
contained in the July report of the bank
to the banking department, and Trump
bour was arrested. He was just pre-
pairing to flee from town.
Ostrander was arrested about two
weeks ago for embezzling $4,000, and
was under bonds for 500, 900. His bonds
men last night turned him over to
Sheriff Dill, and he was locked up in
Jail. When Ostrander was arrested
there was run on the bank for three
days, but the other banks came to the
Institution, and the trustees made a
statement showing surplus of .$247 900.
AS the statement was signed by a
number of prominent men OF the city
who were directors of the bank, it had a
reassuring effect, and deposltors who
drew out their money brought it back
The system adopted by Ostrander and
Trumbour was most ingenious, and for
twenty years baffled the skill of the
expert examiners in the employ of
the state. In carrying it out, deceit and
perjury were frequently and effectively
employed. set =,
The statement showed resources of
50, 900; due depositors, 81, 1888 600;
surplus, $4,000.
is impossible to tell or even con-
lecture the effect the closing Of the bank
will have on the people of Ulster coun-
ty. The majority OF the depositors are
poor people. There are two other saw
ings banks in the city, the Rondout and
Kingston, the trustees of which have de-
cided to demand sixty days notice from
depositors should there be a run of anv
trustees who signed the statement ia
bitter in the extreme, and they are
characterized as thieves for making the
depositors believe the bank was solvent
when they should have known its con-
dition. First Vice President Broad
head, who had executive charge of the
bank, also comes in for his share of cen
sure in signing the statement and in al
In hn fO IL
money.
The Ulster County Savings Institu-
ton was incof porated bv an act of the
legislature. April II, 1851. People had
great confidence in the Institution.
1t is said number of bonds made to
the state by the trustees were hypoth-
ecated in New York by Ostrander and
Trumpbour. Another method men
toned was that deposits in many cases
were entered on the banks register for
received, while the entries in the de-
positors' books were for the full amount,
the difference being taken by the
thieves.
The streets OF Kingston are filed with
people, and depositors are arriving on
every train and by all manner of ye-
lIIClCSs 5OLuO VI II6 6A-
cited farmers threaten to break into the
bank building and get their money,
while others suggest that lynching
party be formed to hang Ostrander and
Trumpbour. Business is virtually sus-
pended A man who has $1,000 on de-
posit developed symptoms of insanity,
and it is feared it will be necessary to
take him to an asylum. The city Off
cials, fearing that the threats to burn
the Jail where Ostrander and Trump
bour are confined will be executed, sum
mored the fire department, members of
which are watching the bank building,
the courthouse and the jail, opposite.
The prisoners were arraigned this af-
ternoon. Their examination was set for
Monday morning.
1t was stated on the street today that
after its affairs are wound up, the bank
will pay depositors seventy-fve cents on
the dollar.
There was quite heavy run on the
Kingston Savings bank, which is oppo-
site the closed bank. The trustees of
this institution claim that the bank can
pay its depositors in full. Should the
run continue Monday, the bank trustees
will probably compel giving sixty days
notice by depositors.
THE STANDIFORDs sTEALINGs.
Forgery, Embez8lement, Larceny and
False Pratansiona Easortad to