The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-10-04
HALF Million Stolen by Officers Of
a Bank at Kingston,
N. Y.
Perjury and Deceit Freely and
Effectively Used by the
ThievinG Pair.
A False statement Lures Back Depositors
Who Had Drawn Out-Other
Bank Crooks.

=" ~
County Savings Institution closed its door
and is in charge Of Bank Superintendent
Preston. Examiners have bcen at worl
since Tuesday and already have found tina
S46S. 600 have been stolen by Treasurer
Ostrander ana Matthew t. T%rumpbour
assistant treasurer, and, it is feared the
stealing will reach over that amount. Al
midnight last night Superintendent Pres
ton swore to q complaint charging Trump
bour with perjury in swearing to state.
ments contained in tho July report of the
bank to the banking department., and
Trumpbour was arrested. He was just pre-
pairing to flee from the town. Ostrander
was arrested two weeks ago for
embezzling $4,000, and was I'M
der bonds for 10000. His bonds
men last night turned him over to
Sheriff Dill. and he was also locked up in
Jail. When Ostrander was arrested there
was a run ON the bank for three days, but
other banks came to the rescue of the Ulster
County Savings institution and the trustees
made a statement showing q surplus OF
$247. 00O. As the statement was signed by
= number of prominent men of the oity.
who were directors of the bank, it had a
reassuring effect and the depositors who
drew out their money brought it back.
The system adopted by Ostrander and
Trumpbour was most ingenious, and for
twenty years baHled the skill Of expert ex-
aminers in the employ of the state. In
carrying it out, deceit and perjury were
frequently and effectively employed. The
statement showed resources, $2,135, 900;
due depositors, 81. 1855, 900; surplus. $247,ooo.
1t Is impossible to tell or even conjecture
the effect the closing of the bank will have
ON the people of Ulster county. A majority
of the depositors were poor people. There
are two other savings banks in the city, the
Rondout and the Kingston, the trustees of
which have decided to demand sixty days
notice from derositors should there be a
run of any consequence. Feeling against
the trustees who signed the statement is
bitter IN tho extreme and they are charac-
terized as thieves for making dspositors be-
lieve the bank solvent when they should
have known its condition. First Vice
President Brodhead, who had executive
charge of the bank, also comes in for his
share of csnsure in signing the statement
and in allowing people to redeposlt their
money. The people had great
confidence in the institutions. II is said a
uuulDGx u DOAub AAOAGlOACA III vAS DuNpC-
ment by trustees were hypothecated in
New York by Ostrander and Trumpbour.
Another method mentioned was that de-
posits in many cases we're entered on the
banks register for only half and one-third
the amount received, while entries we're
made in depositors' books 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 vehicles. Coca
s~ionally some of tho excited farmers threat
en- to break into the bank building and get
their money, while others suggest lynching.
A party will be formed to hang Ostrander
and T~rumpbour. Business is virtually sus-
One man who had 800 on de-
posit has developed symptoms of insanity
it ia feared it will be
to take him to an asylum. City
officials, fearing that threats to burn the
where Ostrander and Trumpbour are
will be executed, summoned the
ire department, members of which are now
the bank building, court house ,
nd Jail opposite.
The prisoners we're arraiRned this after :
loon. Their examination is set for Mon
lay morning. 1t was stated on the street
o-day that after its affairs are wound up ]
he bank will pay depositors Is cents on the
Iollar. :
There was quite a heavy run on the
Savings bank, which is opposite
he closed bank. The trustees of this in
claim that the bank can pay it's
in full. Should the run continue ,
1onday the ank trustees will probably y
the giving of sixty days notice by
epositors.