Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-10-04
ROBBED OF $4,000.
The ULSTER COUNTY SAVINGS iNSTl-
TUITION WRECKED.
Tho Bank Forced TO Close Its Doors
Through the Trcachery OF tho Trea-
surer and His Assistant,
by telegraph TO tho Dispatch

KINGSTON, n. Y. October s.-Ulster
County Savings Institution has closed its
doors and IL in charge OF Bank-Superin-
tendcnt Charles NJ. Preston. Expert cx-
aininers have been at work since Tuesday.
and have found already that the enormous
sum OF sf63,0O0 has been stolen by Trea-
surcr Ostrandcr and Matthew 4. Trump
bour, assistant treasurer, and 1t is feared
the stealngs Will reach over that amount.
At midnight Superintendent Preston
swore 20 complaint charging Trumpbour
with perjury III swearing 20 false state
inert- contained III the July report of the
bank to the Banking Department. and
irumpbour was arrested at his house by
Chief-ot-Poiice Hood. He had his clothes
al packed up and was preparing to dee
from town. He was locked up IN jail.
WIEN THERE WAS A RUN.
Ostrander was arrested about two weeks
AGO for onbezziiug $4,000. and was under
bonds OF $4,000. and his bondsmcn last
night turned him over 10 Sheriff OIL and
he was also locked up ia jail. When Os-
trander was arrested there was great run
on the bank for three laws, but tho other
banks cano TO tho rescue Of the Ulster
County Savings Institution. and the trus-
tees made a statement showing that there
was "a surplus of SIi7, 900. The statement
beng signed by sucn well-knOwn men as
Judge Alton j.. Parker, General George H..
sharpe, Judge William ,. KENYON. Post
master Noah Wolven. John ". Soaring, of
tho kineston L|Gfer. and other reputable
citizens. bad reassuring effect, and the
depositors who drew out their money
brought 1t back.
SiT. Ostrauder was sppO nted treasurer
IN 1861, and held tho Office from that time
until part Ofhis de alcatlOn became known,
about two weeks ago. when be was dismiss
ed and IL now IN jail. Mr.. Matthew l..
lrumpbeur, who Is "A con OF the hrst trea-
suror Of the bank. was made assis' ant tr' a
surer about the time Nr Osirauder was
made treasurer. He continued IN that pc
sitlon until his arrest last night. The pair
have been carrying on system OF tasty
in2 bOo6s for twenty years increa lng
their deialcatlon constantly AID carrying
On continuous system OF deceit and per
jury. They issued q statement September
18th which. after thanking the other banks
for the assistance rendered. SAID II the de-
posters:
We know that We cannot deceive you.
Our assets are intact and open to your IN
spectlOn. We have tonight at tho close
of business" and then followed q state
ment which showed ii surplus OF quarter
OF a million dollars.
DErosIrOEs POOR PEOPLE.
1t is impossible 20 tell or even conjecture
the eiect that the closing Of the bank will
have on the people of Ulster county. The
majority - the depOsitOrs are poor people.
many Of them Old men and women de-
pendent Oh the interest on the few thou
sands Of dollars they had IN the bank. and
such men and women with tears In their
ewes can be seen everywhere about tine
city. they fearing the loss of their saw ngs.
ine feeling against the trustees who signei
the statement - bitter III the extreme, and
Parker. sharpe. and tho others are charac-
ter zei as thieves for making the 1epositOrs
believe the bank was solvent when they
should have known its condition. That
they were guilty Of criminal neell-
Cenco there J. no question. Nice-bresl-
dent n. +. Brcadhead, who was III
executive charge OF the bank. also comes
ID for his share OF consure IN sign
ing the statement and in allowing the peo--
ulc to rodepOslt their money. BrOadhead
WAS one OF the most popular Young men IN
the county, being elected county Ire asurer
last fall. which position he now holds. and
every one in tho county had the most i'm
plIcit faith in bis trustwOrthlness. all OF
which is now shattered by the unfortunate
turn in the affairs of the bank.
There are two other savings bsnksin the
city-thc Rondout and tho kIngstOn-and
the trustees of these. after consultation,
decided 10 demand the sixty days notice
from depositors should there be q run Of
any consequence. The run has already
begun, but so lar verythlng has been PAD
on demand.