Evening journal., 1891-10-05
ULSTERCOUNTY'S CRASH
Another Kingston Bank VIII
Not Open for Business.
AT LEAST $4esOOO EMBEzzLED.

Bank Directors Censured by Indignant
Depositors Who Had Been Led to Re
tarn Their Money by Statements That
che 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 Saw,
fngs institution.
Persons against whom = shadow Of sus.
picion rests are being kept under close sur.
veillanoe. Their houses are carefully
watched by day and night. The bank
stockholders and its deposltors have Sc
cured the aid Of detectives to assist in as.
pertaining what has become OF the stolen
money and who were directly or Indirect
ly implicated in the plundering OF the in
stitution.
The Management Csnsursd.
Had the trustees Of the institution i'm.
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 Investigation by expert
accountants, and had they refused to &C
cept any deposits OF transact any further
business, but little odium would have been
cast upon the management. As II 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.
Must Have Known Ita Condition.
Many who had withdrawn their accounts
durinN 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. 1t is this more than
anything else that has exasperated many
Of the depositors. Il is stated by one OF
the officials Of the institution that nearly
year ago there were certain evidences
that all was not right, but that the trus.
tees were DESTROYS Of fixing the response.
bility where 1t properly belonged, and for
this reason worked the matter up secretly.
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 7. Trumpbour.
Preparing 60 Escape.
The wonder ia, 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 an
pretended just in the nick of time would
no doubt be enjoying himself on Canadian
soil today. The superstition Is that he did
not hasten his departure on Friday for
lack Of ready funds and did not wish ID
excite suspicion by undue haste.
Notwithstanding the statement made
by Ostrander both he and his accomplish
in crime have been extravagant and high
liyers. On all sides it Is asserted that
wine, women and stock speculation have
been their ruin. Both 0strander and
Trumpbour have been twice married. and
their later matrimonial events have been
the subject Of much scandalous gossip.
For some reason Ostranderis oldest eon
took bis departure from the parental roof
Immediately after the fathers second
marriage and never returned
over S403, 600 Is Missing.
Expert examiners have found already
that over Sid3, 900 has been stolen by Treas
urer Ostrander and Matthew 4. Trump
bour, assistant treasurer, and il is feared
that the stealings will exceed that amount
Ostrander was arrested about two weeks
ago for embezEling s75,OO0 and was under
bonds Of $50 600 His bondsmen last night
turned him over TO Sheriff Dill aud be was
locked up. When Ostrander was arrested
there was run on the bank, but other
banks came to its rescue and the trustees
made a statement. showing that there was
q surplus OF S247, 900.
Another Bank TO Close.
At a meeting OF the board OF trustees OF
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 viii greatly intensif,
the excitement and runs on the Rondoui
Savings bank and other money depositorie,
are feared. Meeting were held by banl
officials lasting until late hour, and con
situations are being had TO devise plans {,
meet panic. Messengers have been dis
patched to New York and other places I,
obtain sufficient cash TO meet the prospec
tive runs
Chief RylAnds' Time Book Gone.