New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-16
I'LL. Balm GIVES HIMSELF UP
THE EMBEZZLING CASHIER OF THE HOME
STATE BANK ARRESTED.
EDMUND STEPHENSON. THE PRESIDENT. MAKES
THE cOMPLAINT-THE FIDELITY AND
CASUALTY COMPANY WILL LOSE SIS 900
SPECULATION LED THE TRUSTED
EMPLoYE TO STEAL THE BONDS.

SPECULATION LED THE TRUSTED
| EMPLoYE TO STEAL THE BONDS.
Howard L. Balm the embezzling cashier Of the
Home State Bank OF this city, was arrested yester-
day afternoon in the Office of the Fidelity and cas-
| ualty Company No. 40 Broadway. He was taken
| TO Police Headquarters and held on complaint
| made by Edmund Stephenson. president OF the panK'
He will be arragneo In the jefferson Market Police
Court to-day The facts of the case were ald before
Superintendent Byrnes yesterday morning by the
Fidelity and Casualty Company, but he refused
to do anything until the bank oficials maze the
complaint The bank had decided not TO prosecute
Balm until the Fidelity and Casualty Company TOOK
some steps Mr.. Balm said that he was willing 10
give himself the law as soon as II was as
covered that he had the bonds. He moved his
family to Newark Thursday and came 10 the
city yesterday TO surrender himself Inc Dahk OF
fcals and the Fidelity and Casualty Company
which had been Bains bond for $4,000 are both
inclined to treat him with much clemency as
possible and had he been able to make good the
amount he took from the bank the case would prob
ably never have been made public The chief suf-
ferer from his crime will be the Fidelity ana CAS-
uaty Company. which has decided to turn over
the $4,000 security to the bank. The market value
of the bonds was sl6lS5. the bank VIII lose but
a little $1,000 1t is not thought that the hrn
OF II l. Nicholas & Co.. who took the stolen bonds,
will be held all guilty Of assisting Balm as they
thought he had got the bonds honestly.
Howard /, Balm had been the cashier OF the Home
State Bank for the last ten years. Before that he
had served one year assistant clerk in the Ninth
National Bank six years as assistant bookkeeper In
the Sixth National Bank and six years as head book
keeper in the West Side Bank While he was in the
last -named bank Paying Teller HinckE embezzled
$50 from the bank. In his twenty-three years Of
service in various banks not breath of suspicion
was ever attached to his name. He was liked by
ALL md the directors of the Home Bank were so ia
vorably impressed with his abilities that the I'M
usually high salary for small bank Of $500 a
year was given him.
The embezzlement was discovered on August
by the president Of the bank when Balm told him
that he had taken Wabash bonds whose in
terest had fallen due. He had expected TO be able
to return the bonds but the Wall Street market
against him and he lost everything. Had he
been so disposed he could have taken much
larger amount and escaped before the theft be-
came known This fact and the regard the bank
directors had for Ban's family led them to
be lenient with him. He was merely discharged
from the bank when the loss became known
President Stephenson of the Home Bank In
speaking yesterday of the embezzlement said: Il
had the greatest confidence in Balm. He came to
us well recommended. and thought him model
man. ! don't think that he is wicked at
heart but merely gave way to temptation He
has a father and mother living in Morristown.
~ j. who are practically dependent on him. |
presume he supported them ont OF his salary. He
has taken Of and educated two sisters. He Is
married and has two children. He was led by
some one into specializing and thought he had
good thing Then he had to take the bonds and
put them up collateral
Efforts are being made to trace the stolen bonds.
II. l. Nicholas & Co. OF No. IL Wal-st., who
took the bonds from Balm. sold them shortly after
ward Yesterday no Information about them was
given at their office. This firm failed on July %.
and at present is in the hands OF an assignee.
The bonds were negotiable. and George f. Seward,
president of the Fidelity and Casualty Company.
said yesterday that he did not think they could
be recovered.
The Home State Bank is not a large bank. Its
capital is 800 900. and according to recent state
ment i, has a surplus of $4,000.