The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1891-10-08

IS
STOLE THE FUNDS
The crosAsd Work q Two onslaIs Fsrss 4
- Kingston IN. ~ savings HANK 60
Close Its Doora-NsarlyoB $50 1000 stoIsa.
KINGSTON. N. ", Oct. & The Ulster
County Savings Institution has closed
It's doors and is In charge of Bank SUI
pertntendent Charles NJ. Preston. After
conducting . systematic pilfering of
the institution for years two of the
most prominent citizens OF the city are
under arrest, charged with stealing
nearly $500, 600, 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. It is reported that great many
persons may be arrested. The bank
examiners are still at work, and thu
amount stolen by Treasurer Ostrander'
and his assistant, Matthew +. Trump
bour, may reach $500, 600. 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 $75, 900 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 impi-
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 embezz,ing $500
and was under bonds of SO, 1000 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
81, 1874, 0S5. OF; liabilities due depositors,
$l.SS7, 1926; surplus, $247, 253 Is. 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, ard other reputable citi-
zens, and it had such reassuring effect
that depositors who drew out their
money during the run redeposited it.
Th" 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 q 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 depositors books
were for the full amount, the difference
being taken by the thieves.
THE srAND1FoRD Bros sw1NDLE
i PARIS, ILL.,, Oct 5.-New develop
ments make the bank-wrecking of the
| Stamford Bros. at Chrisman appear
!! worse than ever. About a month ago
/ the bank building was burned and the
Standifords opened on the east side of
the square. They went to few of
their largest depositors and told them
! their safe was so hot they could
! not open it without destroying every
thing it contained, and asked them to
| advance notes for $4,000 each for
thirty days, so they could get them dis
counted in this city and 60 ahead with
their business. Three of the notes
were given for $4,000 each and
others given brought the amount
up to $4,000. and the Standifords got
the money. If the signcrs of these notes
; are compelled to pay them it will ruin
/ them. This fact has been kept secret
until now, and will bring the Standi-
| fords' liabilities up to over $500, 900.
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 $1,000 for the
capture of the Stamford brothers.
! First Payments of u Sugar Bounty.
! WASHINGTON, Oct 5.-The first pay
ments of bounty under the law giving
a bounty of two cents a pound on sugar
produced in the United States have
been made ut the treasury department.
They were both in favor of the Chino
Valley Sugar Company at Chino, Cal,
on two claims for the production of
200 pounds of beet sugar and
! amounted IN e. QlO