Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-10-03
Systematic Robbery Of a Kingston,
N. Y, Bank Discovered.
IT Is FORCED 10 CLOSE IT'S DOORS
Criticisms Of Mr.. Gladstone's New
castle Speech.
LATEST NEWS BY TELEGRAPH
ROBBED FOR TWENTY YEARS.
The Ulster County N. NJ Savings Institsties
Compelled 60 Cloee Its Door.

Compelled to Close Its Doom.
KINGSTON, n. Y, Oct She Ulster County
Savings Institution has closed its doors and 10
in charge OF Bank Superintendent Charles n.
Preston. Expert examiners have been at work
since Tuesday and have found already that the
enormous sum Of s46S, 900 has been stolen BY
Treasurer Ostrander and Matthew T. Trump
bour, assistant treasurer, and it is feared that
the stealings will reach over that amount AZ
midnight Superintendent Preston swore 90 .
complaint charging Trumpbour with perjury
IN swearing 20 Iaise statements contained IN
the July report OF the bank 20 the banking de-
partment and Trumpbour arrested at his
house by Chief Of Police Hood. he had his
clothes all packed up and was preparing 30 Zee
from town he Was locked up an jail
Ostrander was arrested about two weeks ago
Tor embezzlng s15.0OO and was under bonds q
$4,000, and his bondsmen Last night turned
ham over 10 Sheriff Dlll and lac was slso locked
up In jail When Ostrander Was arrested there
was great run on the bank FOR three DAYS,
but the other banks came TO the rescue Of the
Ulster County Savings Institution, and the
trustees made u statement show ing that there
was surplus Of S24'.OO0. The statement
being signed by such we'll known men ss Judge
Alton Il. Parker, Gen. Geo H. sharpe Judge
Nm- 5. Kenyon, Postmaster Noah wolven,
John w. Soaring OF the Kingston Leader and
other reputable citizens had reassuring effect.
and the depositors who drew out their money
brought IL back.
STEALING FOR TWENTY YEARS.
The system adopted by James Z. o-trander
and Matthew T. Trumpbour, the latter being
fully cognizant Of the steal and assisting in
concealins Il, for the purpose of swindlins the
depositors and hiding the theft which grew By
degrees, was most ingenious, and for twenty
years has bafiied the skill of exp, ri examiners
IN the employ Of the state. In carrying IL out
deceit and perjury have been frequently and
effectively employed.
The statement which was given out on Sep
tember IL, after thanking the other banks for
the assistance rendered. said to the depositors.
Every dollar by which our liabilities have
been diminished has been paid from cur own
funds without borrowing 81, aud represents
pass books paid aud accrued advantage TO the
bank In interest. from which it In now re-
leased.
BITTER FEELING AGAINST THE TRUSTEES.
1t is impossible 20 tell or even conjecture the
effect that the closing of the bank will have on
the people Of Ulster county. The majority Of
the depositors are poor people, many of them
old men and women dependent tue interest
on the few thousands Of dollars they had IN the
pank, and such men and women with tears IN
their eyes can be seen everywhere about the
city, fearing the loss of their savings.
1he feeling against the trustees who signed
the statement bitter in the extreme and
Parker, Sharpe and the others are character-
lieve the bank solvent when they should
have known its condition. That they were
guilty Of criminal negligence there 10 no ques-
tlon.
Vice President n. Z. Broadhead who was in
executive charge Of the bank, also comes IN for
his share of censure IN signing the statement
and IN allowing the people to redeposit their
money. Broadhead was one of the most popu-
lar young men IN the county, being elected
county treasurer last fall. which position he
/ now holds and ans in tl..e ~ had fh<
most implicit faith In his trustworth rthiness, all
OF which Is now shattered by the unfortunate
| turn in the affairs OF the bank.
There are two other savings banks in the city,
the Roundout and the Kingston, and the trus-
tees OF these, after consultation, decided 20
demand the sixty days notice from depositors
should there be a run OF any consequence.
| THE BANK ORGANIZATION.
The Ulster county savings institution vss in
corporsted by an act Of the Legislature April
II, 1851. The first officers chosen we're Archi-
| bald Russell, president: Cornelius Bruyn, frst
vice president; Jonathan IA. hssbrouck, sec
ond vice president; q. W. Buddington, secre-
| tary; Jacob h. Trumpbour, treasurer.
Jacob h Trumpbour, the treasurer served
| until his death, July 10, 1858. Edwin W.
Buddington then became its treasurer and
remained such until April IS, 1867. James
Z. Ostrander was then appointed and held
| the office from that time until his dafal-
ago. when he was dismissed, and is now
| in jail Matthew I. Trumpbour, son of the
first treasurer of the bank, WAS made assistant
treasurer about the time Mr.. ostrander Was
made treasurer. He continued in that position
until his arrest last night
The people had great confidence in the in
stitution and the deposits from s546, ,s5s.l4 in
1861 ran up TO q, IN. .070.S3 IN 1873.
HOW THE ROBBERS WORKED.
Il is said a number Of the bonds which the
trustees mentioned in their statement we're hy-
pothecated in New York by ostrander and
| Trumpbour.
Another method mentioned was that deposits
in many we're entered on the banks reg
| lister for only half and one-third the amount
| received, while the entries in Deposition books
were for the full amount, the difference being
| taken by the thieves.
Superintendent Preston says he will give .
statement today to the newspapers.
ATTACK ON THE BANK rHREATESEp.
The streets Of Kingston filed with people
and depositors are arriving on every train and
| by all manner of vehicles.
The men and women wander aimlessly about
and occasionally some Of the excited farmers
threaten to break into the bank building
and get their money, while others suggest that
lynching party be formed to hang osrrander
Business is virtually suspended and nothing
else is talked about. the general opinion for
years was that the bank was as solid a. the rock
Of Gibraltar. and especially 30 after the state
ment Of the trustees of three weeks ago. which
showed Q surplus Of a quarter of q million dol
lars.
A man named McAndrews who has $1,000 on
deposit, has developed symptoms of insanity
and it is feared that it viii be necessary 10 take
him TO an asylum.
YEARS FOR THE CRIMINALS LIVES
The city officials. fearing that threats 10 burn
An
confined would be executed, summoned Chisf
Engineer Mooney Of the fire department. who
is now watching the bank building and Tie
court house and jail opposite.
CRITICIsING MR. GLADSTONE.