The sun., 1893-10-29
ROBBED THE CONTINENTAL.
sSs, 900 STOLEN BIZ THE BhNK's COR
REsPONDENoE CLERK.


OF Business the Day After the Bank DIS
| missed Him-Snnford 4. IN Ludiow street
| Jnii In u civil suit TO Recover the Money.
BENJAMIN q. Sanford. who up to Sept % last
and for eighteen years prior thereto had been
tho correspondence clerk OF the Continental
National Dank OF Nassau street. is said to
| have discovered n new method OF stealing O
| banks g cash. result OF which is that he is now
q guest OF Warden Dunlap In Ludlow street
jail On tho date mentioned IL became known
to Edmund ID. Randolph. President OF the
bank. that Sanford was engaged in specula-
| ton in Wall street as member OF the firm Of
| Harris Il Co., stock brokers, of 60 Broadway.
| This information was communicated to Mr..
| Randolph by a business house In the street
| with which Harris 4 Co. desired to deal BY
| tho by-aws OF the bank 1t is prohibited that
| any OF It's employees shall be Interested In any
| speculation or other outside business trans
action. Because OF his violation OF this rule
Randolph was dismissed from the service OF
the bank. He was not allowed. however, to
leave the bank building until his accounts and
papers were thoroughly investigated; but no
proof Of fraud or crook edness on his rart was
discovered. but only evidence proving his
connection with tho brokerage firm.
A systematic investigation was instituted
after Sanford's dismissal to ascertain II he had
used his position in tho bank for the purpose
OF obtaining money. This investigation re-
veaed discrepancy between the accounts Of
three Of tho banks corresponding banks In
country cities. and an apparent embezzement
OF S53 900 from the Continental Bank.
The account with one OF those banks showed
that 1t had balance $4,000 less than shown
by it's own books. That OF another. a Boston
bank. was $40, 900 less on the books OF the
Continental Bank than on its own. The bal
ance OF another bank was $4,000 short. The
checks which accounted for these discrep-
ancies were all drawn within a period Of two
months OF the discharge Of Sanford from the
banks service.
1t had been q matter of remark for some
months before the discharge OF Harris that
Percy NJ. Harris Of the new firm OF
brokers OF Harris & Co. OF 60 Broad
way had been operating pretty heavily
in stocks on the floor OF the Consolidated
Exchange He was practically unknown. His
partner who formed the company. was sup
posed to be Alfred G. Sanford. tho father Of
BENJAMIN G. Sanford, an ex-bank President OF
Nashville. Tenn. The Continental Banks off,
GERS became convinced that this was not true.
and that their clerk was the real partner In
Harris 4 Co. Thereu.on they summarily dis.
anything being wrong In his transactions in
tho bank was evident from what they said at
tnat time.
He has committed no crime" they said:
but simply violated wel-krown rule OF
every bank. and as he was an efficient clerk we
regret that We were compelled to dispense with
The day following santord's discharge there
change col Of about 20 1000 shares OF stock for tho
account Of Harris Il Co. and Chairman A. W.
Peters announced that that firm had gone
= The stoeks ss,d s9Id were rrinG;lpallyp Chicago
a nd nd IN n uQ aui.f hnf Hur-
ris & Co. had cleared about $50. 900 In the last
three months OF their existence OF less than a
The disappearance OF this firm INN edately
after sanford,s connection with the bank ter
them sSa. ths bank Sssap i'i is sSstemStis alto
search Of the sseounts which @ had passed
e q ssd
denee with country banks which Keep . de-
p9sit with ths Sontinsnsai ;i Il W.: the enstom
needed to settle drafts should be transferred
to other banks for the account OF their GUS
The officers Of the Continental Bank knew
fraud had been 'f@ perpetrated was su to % them
mystery. 1t was believed by them at first that
Sanford had forged the endorsements OF
It is alleged now. however, that he had forged
orders for transfers. Sometimes these were
orders he would, take to the cashier Of
and then deposit that check to the credit
Of Harris Go. His vehicle for this purpose
street. sire where Harris 4 Co Kept i an account. @ unit
The covering up OF these doings involved
careful supervision OF the corresponding
Ills method in one case in point will explain
this. As postscript If p to a letter an order to
the Mechanics Bank. to the order Of Haines
4 Co was added cashiers check for
and de"ePsd H sanord "n S RnrS Hsnss
4 Co" was altered to Harris & Co. and |
, SANFORD ThIm Tdheposited the cheek to that firms
letter before he put the latter, on file and |
when the voucher I'VE was returned to him from
Co.'S name back to Haines & Co.
From another banks account. It is alleged.
$1,000 each. and from a third account four
sums Of 5000 zach and one OF $4,000. As all
the correspondencs passed through his hands
doinRs from the, interested parties. al
though It is recalled that at ono time he
transfer, which oyerdrew its account. This
dd to nots saoo5s Of Doing
he procured telegram which he delivered to
the G0ntn9Rta Bank In which Was , to
draft as mistake. He also destroyed the letter
Of acknowledgement sent by President lan-
tinental Bank were made out and delivered to
HIM to forward, showing the forged drafts
legged. would abstract those and send other
statements not containing these Items.
Sanford Is thought to have realized $4,000
or $4,000 profits from the business of Harris
& Co.. and this. 1t is believed. ho has secretod.
Sanford is alleged to have dealt with the
Mechanics Bank in person, and not by corre-
fra uds so effectualy coyerod UP with letters.
vouchers, accounts, and statements, APPARENT
ly correct 1t was n most difficult matter to dis
cover the method. In fact. the exact mode OF
procedure adopted by Sanford was not discov-
cred for two or three weeks.
The young man remained In the city and was
in his usual haunts. and conducted himself in
so Indifferent way that tho officers OF the Com
tinental Bank, who had him closely watched.
were entirely mystihed. member OF the
Board Of Directors. however. managed. after
eonsiderabls hard work. to secure a con.
tession from Sanford. who said that he
he had got, it. He said that it
and that It was due him from the firm. The
director referred to secured an assignment OF
his interest In tho hrm OF Harris & Go. from
ford. and made reassignment OF 1t to the