River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1891-10-08
STOLE THE FUNDS.
The Crooked Work of Two Officials Force
Kingston (N. W savings Bank to
Close Its Doors Nearly 100000 stolen.

close Its Doors-Nearly S5OD.OOO Stolen.
KINGSTON, N. Y, Oct. 5.-The Ulster
County Savings Institution has closed
its doors and is in charge of Bank SUI
perintendent Charles NJ. Preston. After
conducting sy.sA matte pilfering d
the institution for years two of the
most prominent citizens of the city are
under arrest, charged with stealing
nearly 5000 and the bank is ruined
beyond possible recovery. The trus-
tees of the bank are suspected of
completely for receiving deposits after
they knew of the deplorable wreck of
the bank and the greatest excitement
prevails throughout this part of the
state. 1t is reported that great many
persons may be arrested. The bank
examiners are still at work, and the
amount stolen by Treasurer 0strander
and his assistant, Matthew T. Trump
bour, may reach 5000, 900. Both of these
men. who have long been prominent in
social, political and church circles, are
under arrest, and it is reported
that the former has made two at
tempts at suicide. For years they have
been robbing the bank, covering their
acts by means of forged entries, and it
was only two weeks ago that ostrander
was S75, 600 short. He was arrested, but
released on bail The bank examiners
set to work and uncovered the gigantic
steals. The system pushed by Ostran-
der showed that Trumpbour was impli-
Gated When the police went to arrest
him at midnight he was preparing to
leave the country. subsequently, it is
said, he attempted to take his life. The
excitement over the expose and arrests
is intense, and hundreds of poor people
are surrounding the bank demanding
their money and that the trustees be
arrested and made to make up the
amount stolen.
At midnight Superintendent Preston
swore to complaint charging Trump
bour with perjury in swearing to false
statements contained in the July re-
port of the bank to the banking de-
partment, and Trumpbour was arrest
ed at his house by Chief of Police
Hood. He had his clothes all packed
up, and he was preparing to flee from
town. He was locked up in Jail.
Ostrander was arrested two weeks
ago charged with embezzling SIS, OO0
and was under bonds of $50, 900 until
Friday night, when he was surren-
dered by his bondsmen. When Os-
trander was arrested there was a
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 statement showing resources of
g, 1874, 9s5. OF; liabilities due depositors,
Sl.SS7, 73l. 20; surplus, S247, 253 76. They
declared that they knew of no safer
place in the county to deposit money.
The loss by Ostrander's opera
tions had been partly made good
and they hoped to secure the re-
mainder, but in any event the loss
could not affect depositors. This was
also signed by Judge Parker, Gen.
Sharpe, Judge Kenyon, Postmaster
Wolven, Editor Soaring, of the King
ston Leader, aud other reputable citi-
zens, and il had such a reassuring effect
that depositors who drew out their
money during the run redeposited it.
The system by which Ostrander and
Trumpbour carried en- their embezzle-
ment was very ingenious one, so much
so as to battle for twenty years the
skill of expert examiners in the employ
of the state. Deceit and perjury have
been frequently and effectively en-
ployed in making it operative.
1t is said a number of the bonds
which the trustees mentioned in their
statement Were hypothecated in New
York by Ostrander and Trumpbour
Another method mentioned was that
the deposits in many cases were en-
tered on the banks registry for only
half and one-third the amount received,
while the entries in depositdSs books
were for the fun amount, the difference
being taken by the thieves.
THE STAMFORD BROS swINDLE.
PARIS, Ill, Oct 5.-New develop
ments make the bank-wrecxing of the
Standiford Bros at Chrisman appear
worse than ever. About month ago
the bank building was burned and the
Standifords opened on the east side of
the square. They went to a few of
their largest depositors and told them
LIelT StIe was 81 uOt butJ COuiu
not open it without destroying every
thing it contained, and asked them to
advance notes for Sl0,0 each for
thirty days, so they could get them dis
counted in this city and go ahead with
.heir business. Three of the notes
were given for $4,000 each and
others given brought the amount
up to S50,O and the Standifords got
the money. If the signers of these notes
are compelled to pay them it viii ruin
them This fact has been kept a secret
until now, and will bring the Standi-
fords' liabilities up to over S200,00
The safe was opened by an expert Sat
urday, and all it contained was $40
in small coin. The grand jury returned
fifteen indictments for forgery, embez-
element, obtaining money under false
pretenses and larceny. The county
will offer reward of 81, for the
capture of the Standiford brothers.
First Payments of "a Sugar Bounty.