The Monticellonian., 1894-11-30
HEAVY DEFAlCATION.

900.
 NEW YORK, Nov. 25.-Through the dishonesty of Samuel c. Seeley, book keeper in the National Shoe and Leather bank of this city, that institu- tion has lost S354, 900 in the past four or five years. Seeley was an old and long-trusted employe. He worked | with confederate on the outside in the person of depositor in the bank of thirty years standing.
 The bank perSued the old-stvle ! ledger-book method, which permitted this conspiracy to exist without dctec- tion. Under the old system no deposit ! slips are used, the depesitor simply presenting pass book in which the booltkeeper writes the amount of the deposit
 The scheme as worked by Secley and his confederate was very simple. Seeley entered false credits on the pass book for small amounts, charged them in another account and carried these charges along in clever way from year to year. These peculations began about five years ago and had swelled to the total Of S354 900 when the dis eovery was made of the dedication. i Some time ago the bank decided to change the system of keeping books and adopt more modern method. Seeley immediately knew that his fal- sitication of thebooks would be re- vealed and disappeared, while the over hauling of the books was in progress. The confederate is known. The di- ;n+ aI, and have decided to make good the inn pairment at once.
 The clearinghouse committee visited the bank and made the following statement:
 "A recent examination of the affairs of the National Shoe and Leather bank by the national bank examiner devel- oped dedication of S354, GOO. and after investigation by the clearing ghouse com mittee this loss was confirmed. The committee are unanimous in the opin- ion that notwithstanding this loss the bank Is in a sound condition and able to pay its depositors.
 The following statement was issued by the president, John NJ. Crane, yes terday afternoon:
 NEW YORK, Nov. 24, 1891.
 To THE PUBLIC: A bookkeeper of this bank has disappeared, and the re- suit of thorough investigation made at our request by the national bank examiner has proven him dcfaultcr to the amount of S354 ,000, to meet which the directors have called on the stockholders for an assessment to ann ply cover any deficiency. We append statement by the clearinghouse com mittee.
 Signedl JOHN NJ. CRANE,
 President
 President Crane said to United Press reporter yesterday afternoon:
 "SeeIey has been an employe of this bank for fourteen years. He came here recommended by fellow clerk. and was getting a salary of Sl, 500 per year as one of the booSkeepers. His honesty and faithfulness have never been questioned until we had undc- niable proof of his dishonesty.
 We have no idea, however, how long Seeley has been carrying on these peeulations, built must have been for two or three years. His method seems to have been of balancing of various accounts. Supposea man had an account with our bank of $50, OOa. and of another Sl0,oo0. Seeley would take S5,000 from one account which he could take himself, and then put the 5000 to the other account. which would apparently balance the banks accounts. To have secured the enor- nous amount would, of course, re- quire an immense amount of balanc- ing. He had to be very careful not to diminish depositor's account so much that on attempting to draw the dspositor would discover that his ac- count had been tInl<ered with.
 The bank, of course, will be loser to the amount of Seeley's dedication, but the public can rest assured that the standing of our bank is not inn paired. Our surplus is about S260, 000 Seeley's bond, furnished by the United States Guarantee Co, was for S7;O00 which, of course, will be forfeited"
 Seeley's lawyer Frank w. Angel, attended directors fmeeting by encouragement with his client. He made a statement to the directors of the bank, being in substance the story of the dedication as told to him by Seeley. Mir. Angel said Seeley told him that he himself had profited only s11, GOO by the big defalcation The balance of the money he said, had been secured by the depositor. whose name the officials refused to divulge.
 Seeley, the missing boollkeeper, is 45 years of age, and his home is in Brook | lyn. Last Saturday the bookkeeper had a holiday. On Monday he failed to appear, and another clerk was put in his place. This was the first in- timation given of anything wrong The police were notified at once. and every effort was made to apprehend tine two offenders The fugitives, however had good start, and there is a possibility of their being well ont of the country by this time. Seeley's wife and children are still at their home The wife, prostrated by the shock of her husbands crime and flight, is at the polnt of death.
 The Seeley defaleation is the largest since the IIill robbery of the Ninth national bank in 1891. Hill was pres ident of the bank and the discovery of his wrongdoing was not made until after his death. Ilill's dedication amounted to about S45O, GOO.
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 tuoiaI Election in Nebraska k on.