New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-04
is feared that it will be necessary to take him to


The city officials, fearing that threats to burn
the jail where Trumpbour ana OsuanaeI nre
confined, would be executed. summoned Chlef En-
gineer Mooney, of the fire department. VINO Is now
watching the bank building ana the court
Matthew T. Trumpbour was highly popular
socially and as banking man. There never mas
been the slightest suspicion until the present us
closure against his integrity. IrumppouIs wiz wiz
and had just returned from his wedding tour when
the disclosure regarding Ostrander was MADE
known, and the arrest Of Trumpbour followed soon
after. The blow to his young wife upon her hear
ing the charge against her husband is a terrible
one. ~,
IIusSey at 45 o'clock this afternoon. Ihey
asked for an examination which was set down Tor
Monday morning at 1 0 o'clock.
II was stated on the street to-day that AFTER
its affairs are wound up tho bank Will pay de-
postors 10 cents on the dollar.
The trustees of the Ulster County Savings Insti-
tuition have made to the public the following
statement:
To the depostors Of the Ulster County savings In
When IL was ascertaned that James f. ostrander had
misappropriated OF the money of the institution
1t was at once determined that it was our duty 10
punishment as the law provides as was fully realized
that effect Of such action would be The inangnr
was the aLlmportant question at that moment II sol.
vent it commanding duty In the interests OF
save Tho bank if not at once to close its doors 10
that every depostor might receive his proporuohae
%ere and now are for they remain untouched from the
day OF our formal statement until this time We were
then only concerned in ascertainng the exact amount
owing to dp9sSTs Sr N Gne eas p IN Matthew +
rs 5s
f"E lin IN a. crcbo languagc ' as we could command the
% % to asked e ThHs h@ P1e & sa those Vouchers
represented all there was OF the loss, and secona,
Department
he had made oath, stated accurately the amount due
deposltors Both questions he answered emphaticaiy
in the affirmative repeating 1t again and again. Mr.
Van Nostrand, the bookkeeper, also assured US the
deposltors ledger was correct and so far as we KNOW
We then determined that was our dgty to preRs sTs
there was paid over the counter S2looOo' represent
A comparison Of this large number Of passb3.ook5;
from every part Of the country with the depositors'
ledger failed to show any discrepancy between the
coroboration Of the statements Of Mr. Trumpbo1r and
all the evidence then in our possession satiseu us
that the general ledger accurately stated the amount
due depositors and determined us so to inform the
public Mr.. Trumpbour subsequently yolunteeTed 10
and this confession when made confirmation OF
the estimated our statement, therefore, OF sep
c6mGeT contToverted, " on Which We thought ought
to act for the interests OF the whole community % MY
subsequently, for the purpose Of assuring public coz
dence in the bank and in full faith that the accuracy
of former statement would be demohsratca; W.; we
requested the superintendent of 3ankng 20 sehu iS m
trained experts to make thorough INVESTIGATION Of al
the affairs Of the bank These gentlemen DegtI
efforts they unraveled scheme for the falSihcauon
Of the books, heretofore unknown IN the mstor Oh oe
Banking Department and which for series OF y yedrs
has baled the skilled examiners Of several successive
superntendents and deceived the employees IN the oaK
Late last night at the request OF the superintendent
the board Of trustees met and he stated led Seen s1 dS n laf
59' soas 4. "sxSF as .ass s3 nsi Sf
informed of the discovery Of the amount By the eX.
TO 5s we Sd Se r bon Of O6 our d
faultng officers large equities in real estate wmch We
Dn tT and oe eGnsdeaS sums of
But were not deemed sge1t to make sos
5Ss s sdS 10 over tie bank and is assets to
State Depsrtnent st once. ,,,o.S - r,pvrp
TfANGS WihfIAS SAPRREEYY6 s ARPRREY6N 6 J6E HARiS
GMASG ANiSlifi HuMPHREY IL fFiY F. j. R. CLARKE.
Albert C.. Judson Of the Banking Department,
made the following statement to reporters
The examination into the condition and affairs Of
the bank has been gong Ing on see aSssed by Mark s
Eusare The examination ITO 1 Is yet nbS@ iRSSpe ps4o 900
of pf' the funds of the bank have been abstracted
The stealing has been going on for over twenty
years ana during AL bed oC cborre e Of the cash it being
his duty to receive the deposits and pay the checks OF
dePoso I 1t has also ees9 s O twice 90 Year and he
has also when he fe 50 dSposed done SONIC lie Vi has
pOstiDgS the depOSlOrS' accounts, liO ei'o
thus taken upon himself TO do that portion
of the work of the bank which afforded an opportunity
to fay It's accounts WITHOUT W.T. s of tSe bank in reovinS
denosts to make a ticket memorandum containing the
the name 1S du6f Si 1fo of RS DEPOSIT From this
the entry IS made on the dy eSsh fg c9oS NJ ~
rnmpbOur retains in his possession deposlors uckgt
representing the amount taken ana then po.'S ith le
amount to the dcp0sitOrs' credit IN the leuser' "l
out like entry in the cash book; ,,..., o,t
This wrong doing could not be discovered except
eTinc many days, which tho trustees, not being eY
perts not competent to make: 30 ide d,nd tSs
hank were thoroughly ingenious and have never pc Pc
for been encountered by the oahK examiners Vi Ni'
Mr. Ostrander is about sixty years old, and
nm TO the time of the announcement OF his deIal1
cation three weeks ago, had always Deeh regarueu
as one of Ulster County's most upright cltZehs.
Tho onnouncement therefore, created a great
sensation About 1000 600 was owed 10 uepoelo-
ors. and there was big run on September Is ana ana
! O the days Immediately following the publicanon
of the trcasurers embezzlement. The bank sald
II had a sufficient supply OF funds on hand 10 meeo
all demands and the deposltGrs quoted quiet ao"n @n
after q notice was posted assuring them thst AL
dra fits would be met in full and without delay !
The officers relied on fund OF S3OOO9o IN New
York city. which they were prepared 10 oraw
unon i'm case of an emergency IL was not Iouhd
necessary however to touch this sum- as the run
ceased. ,.L ,,
To those who were acquainted With osir Mr |
Ostrander's private life the story OF his defa |
cation did not create any great surprise hnow-
ing that he received salary of but S2,OOO |
wear. and that he had no other source of income |
II could easily be calculated that his establish
nent must have put him in debt Mr.; Ostr3ndeII ,
owned three horses and carriages, and employed
t,yo colored men TO take care of them. His turn
outs were among the most fashionable in the |
county and always attracted great notice though
tbey DO not appear to have excited much wonder |
os to the wharewithal to support them. He spent |
a large portion of each summer az prominent
watering places. whittier. portion OF his equpaee
oIwovs followed him His house on Main,st. was
ono of tho old colonial type. and was fitted up eX
nenslveIy and in excellent taste:
Mr. Ostrander would let nothing stand IN the !
nav Of sotisfyng his artistic sense. TO run this
~ ~ W rronery rpduirpd considerable body OF |
Servants. p,,r but Mr.. Ostrander did not hesitate
II - L. oo1orod coachman and fOOtman. al |