Connecticut western news., 1891-10-08
ULSTER COUNTY'SCRASH
Another Kingston Bank Will
 Not Open for Business.
AT LEAST $463,OOO EMBEZzLED.

AL I1AOl pfOoyOOO bMD1AA1uD' Bank Directors Censured by Indignant
 Depositors Who Had Been Led to Re-
 turn Their Money by Statements That
 the Institution Was Perfectly Sound.
 KINGSTON, N. Y., Oct. 5.-Groups of ex cited people have all day been discussing the financial calamity which came with the suspension of the Ulster County Sav- ings instit ution.
 Persons against whom a shadow of sus' picion rests are being kept under close sur veillance. Their houses are carefully watched by day and night. The bank stockholders and it's depositors have se- cured the aid of detectives to assist in as. certaining what has become of the stolen money and who were directly or indirect ly implicated in the plundering of the in- stitution
 The Management Censured.
 Had the trustees of the institution inn mediately upon ascertaining that Treas urer Ostrander was a heavy defaulter placed the banks affairs in the hands of the state banking department and asked for an immediate investigZti by expert accountants, and had they refused to ac- cept any deposits or transact any further business, but little odium would have been cast upon the management. As it was the statement made by the board of trus- tees, backed up by many of the leading business and professional men, restored the utmost confidence in the time honored institution, and hundreds of depositors continued their business as before.
 
 Many who had withdrawn their accounts during the two days run returned their deposits. This was done up to the very closing hour of the bank on Friday, when the persons in charge must have known of its rotten condition. It is this more than anything else that has exasperated many of the depositors. It is stated by one of the officials of the institution that nearly a year ago there were certain evidences that all was not right, but that the trus- tees were desirous of fixing the responsi- bility where it properly belonged, and for this reason worked the matter upsecretly,
 When they became fully assured that Ostrander was guilty of using the funds they deposed and arrested him. This they also did in the case of his assistant, Mat thew T. Trumpbour. ..
 Preparing to Escape.
 The wonder is, however, why Trump bour is today behind the iron bars, as he had every opportunity to escape. That he was preparing to escape was evident at the time of his arrest, for his trunk was partially packed, and had he not been ap. prehended just in the nick of time would no doubt be enjoying himself on Canadian soil today. The supposition is that he did not hasten his departure on Friday for | loo f f,rx,I o-,I S.L 4. excite suspicion by undue haste. Notwithstanding the statement made by Ostrander both he and his accomplice in crime have been extravagant and high flyers. On all sides it is asserted that wine, women and stock speculation have been their ruin. Both Ostrander and Trumpbour have bven twice married, and | their later matrimonial events have been the subject of much scandalous gossip For some reason Ostrander's oldest son took his departure from the parental roof immediately after the fathers second marriage and never returned.
 Over $463,OOO Is Missing. Expert examiners have found already that over $463, GOO has been stolen by Treas urer Ostrander and Matthew T. Trump bour, assistant treasurer, and it is feared that the stealings will exceed that amount Ostrander was arrested about two weeks ago for embedding $75, 900, and was unde, bonds of $So coo. His bondsmen last night turned him over to Sheriff Dill and he wal locked up. When Ostrander was arrested there was run on the bank, but other banks came to it's rescue and the trustees made statement. showing that there was a surplus of $247, 900.
 Another Bank to Close.
 At meeting of the board of trustees o the Kingston Savings bank it was decided to take advantage of the sixty days notice | and that institution will also not open fol business today. This will greatly intensity | the excitement and runs on the Rondou Savings bank and other money depositorie. are feared. Meeting were held by banl officials, lasting until late hour, and con sultations are being had to devise plans t, meet panic. Messengers have been dis patched to New York and other places t, obtain sufficient cash to meet the prospec tive runs.