New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-14
A BANKS FUNDS MISSING.
THREE OFFICIALS OF The IRVING SAVINGS
INSTITUTION RESPONSIBLE.

PRESIDENT AND SECRETARY OvERDREw-
pEFALcATloNs OF THE PAYING TELLER.
II was announced yesterday by the trustees Of
The Irving Savings Institution of No. 96 Warren
st this city. that shortage in the accounts
amounting 10 $70S00 had been discovered by
Charles NJ Preston, bank superintendent while
making his yearly inspection of the books Of the
hank The persons responsible for the shortage
were named Clarence d. Heaton, until two or
three weeks ago the president of the institution;
william II. Buxton the secretary, and d. d.
Tompkins, paying teller, who has been connected
with the hank for the last twenty-five years.
The examination was begun on April "a when
Mr. Preston, preliminary drew trial balance
between the cash entries and the amounts of the
Individual ledgers. Try he would he could
not make the amounts agree. He then made
thorough audit of all the books and up to yester-
day had found that President HeatOn had over
drawn his account ten years ago 10 the extent of
Sso5. Mr.. Buxton. the secretary, has also over
drawn to the amount of So7,lOO, and Mr. Tomp
kins, the paying teller, had defaulted in the sum
of $4,000. In each case, the Interpretations
and defalcations have been going on for period
of ten years or more. The amounts thus far men,
toned account for only S45,sO0 of the S7o,soo,
leaving still $4,000 TO be traced and accounted
for. Last night it was not known whether any
other Of the banks officers would be drawn into
the affair or not. Mr.. Preston thought not.
He was Of the opinion that the persons already
mentioned would be able to account for the rest
THE THREE OFFICIALS SUMMONED.
As soon as the shortage was discovered meet
ing of the trustees of the bank was called The
three officials Of the institution were confronted
with the condition of affairs which had been
discovered. Each promised to cover the amount
Of his shortage, that the bank would not suffer.
Mr. Heaton and Mr.. Buxton at once resigned
their places and Tompkins the paying teller, was
discharged.
Several other meetings followed, at which
Mere present Joseph Rogers and David VI. Dema-
rest, vce-presdents; Charles II. Fancher, treas
urer, and John A. Hsrdenbergh, Ernest e..
Korner, William E. C,key, Cornelius I. Blaa-
welt, Frederick Meyer, Robert Seaman, w. II. q.
Totten, Henry Demerest, Martin Gerdes, d. b.
Halstead, Thomas Stillman, J. X. Lasher, Lloyd
J. Seaman, C. w. Miller, David b. Moses, W. II.
Duckworth, Gilbert Oakley, Frank Green. John
W. Castree James E. Carpenter George w. MIL
lar, John w. Nix and George A. Ellis, trustees.
Precautions were taken TO get security from tho
officials for the amount missing from the funds
of the bank. Messrs. Buxton and Heaton cont
piled, but Tompkins, up to the present writing,
has not done so. No one of the men, il was de-
cared, had made any attempt to flee from the
city.
MR. STERN MAKES A STATEMENT.
The case was placed in the hands Of the Dis
trict-Attorney, but no arrests have been made'
nor, so far is known, are the actions OF the
three former officials watched in any way. MIR.
Stern, of the firm of Stern Rushmore. OF NO
40 Wall-st, counsel for the bank, last night
made statement as follows to Tribune reporter ::
On the oath OF April Charles NJ. Preston. superin
tendent Of the banks Of tie State Of New'York began
IN examination Of the Irving Savings Institution. No
e6 warren-st Of this city, which has continued since
and has yet terminated. Examinations OF this
character under administrations OF the banking
department confined principally to ascertainns
whether reports Of the assets were correct and the
claimed be In possession OF savings institutions
actually on hand Under Prcston's administration
of the Office however ne has not been contented with
m examination OF the only has also instituted
an investigation OF the reported liabilities OF all IN
ettutons under his supervision, including the dcposts
On making this investigation the superintendent dis
powered a deficiency s7os00, caused partly BY the
oyerdrafts of Clarence D. Heaton and William II. BuX'
ton OF the Irving Savings Institution ana inc
abstraction Of funds by D. d. Tompkns' the paying
teller OF the institution. s25 900 OF overdras made by
William H. Buxton. the secretary Of the INSTITUTION
were at once made good by him by the payment OF 'hst
much cash. and he also gave hrsclass security LOT inc
payment further sum which at any time nRht "c
found to be due from him to the institution Aoou'
kl,ZfO
Heaton the president.
The president and secretary presented their ressha'
lions, which were accepted
Under the there will be no loss oi money
whatever to the institution even IL had made oss Oh
15 600 fbeinp about the balance Of the denciency)'
Gould not in affect the institution or it, deosof'
Is the bank has now a clean surplus OF s67b,eoo
CONDITION OF THE BANK.
The assets OF the institution, as shown oy oupeih
Gendent Preston's examination, are as follows:
60. -. ro,,v,ge. s344s, $50 90
s'"AS' VIM par value Market value.
United States bonds. e. loo, ,OOO s2o9. by
Missouri State bonds. 10 0oo .IoS00o IoS00
New.York city bonds sWoUcUOVU ,SiyS0
Buralo CITY bonds 2O0VOO >eUoVooVV
S~rsc~ss City bonds. 10000 10000
Troy City bonds. ,52wv0 III 10
Kings County bonds i'''oO' I--W 3 $50 ooo 90
- , ........... 1000 90
Temporary Ioa's i.s and rst conpanes 3OS 52l as
Cash on nai1 ~ s,,,so and lot 90
fea estste, pai,hi"s NO1 % ............ S6,773 81
1ntresl accIuoi '''-''''''''' ........... % 7j
Rent accrued oy.rdr.rs o5 600 oO