The times. [volume] (Richmond, Va.) 1890-1903, 1894-11-25
A DEFAULTER FOR .S54,tOO.
PeculatlonS Of Booker Se'ey, Of National
Shoe and Leather Bank.
4 DEpOSITOR WAS HIS ACCONPLICE,
Who ia Said TO be LAWYER Trede lex Baker.
Both nrs Fugitives - The Loss
Made Good.

NEW YORK, Nov A.-John NJ. crane,
the president Of the National Sh)e anu
Leather Bank, gave out the foilo"iss
statement at the bank this afternoon.
To the public: A bookket ~sr oil TINS
bank has disappeared, and the result oI
a thorough investigation made at our
request By the national bank examiner
has proven him a defauter TO the alIlouIi' .li.,
OF $554,O0 to meet which the clIeC'o , ,
have called on the stockholders fOr an
assessment sufficient TO amply cover any
deficiency. We append the staleheh' "
the clearing house commute ne,5o,.
JOHN NJ. CRANE Presidehhtt, .shtc,,
The clearing house committee "hicn
/ visited the bank makes the following
/ statement: estrs
of the National Shoe ana Leather bdi9
by the national bank examiner deVeIopeu
/ a defalcation of $354, 900, and, upon inNesll-
| cation by :he clearing house committee
| this loss is confirmed. The committee are
/ unanimous in the opinion that, nOt"lth,
/ standing this loss, the bank Is in Souhu
/ condition and able to pay it's depo5itors.
/ (SignedD George T.. BaKer, W. W. SHeI
/ man. T.. II. Perkins, Jr., @. q. VIII
Hams committee. -,
The following officers were present uui ,
! ing the examination and have pledseu
! the bank their assistance If required:
| George f. Baker, +. j. Tappen, q. q;
! Williams. II. W. Cannon, j. Edward
! Simmons. T.. II. Perkins, JT., and Mr.. A.
President Crane, Of the defrauded bank,
| in speaking of the affair, said:
"The defaultng bookkeeper is Samuel
! G. Seley. OF 422 Halsey street, Brooklyn.
! He has been in the employ Of the bank
| for the last fourteen years, and was one
! OF the most trusted employees. On last
| Friday afternoon Seley applied lor
| leave Of absence over Saturday, promis-
! ing to return Monday morning. a SUD-
| sttute was put TO work on his books on
! Saturday, and, as Seley failed to appear
an Monday morning, the same SUBSTITUTE
! resumed work on the books. These were
| discovered to be in such condition that
an examination of them was Immediately
! made by the officers of the bank: This
| was finished and the amount of the de
! falcation known by Tuesday night; on
| Wednesday we sent for the national bank
examiner, r. S. Kimball, who finished his
labors and verified our statement this
morning. Seley was guaranteed by the
! United States Guarantee Company for
| 1880, and the officers OF that company
! considered him one Of their best risks.
! Seley was a man of very quiet habits.
! He has a wife and two children. The
! whereabouts of Seley are unknown. His
wife at present prostrated by the shock
of his crime and subsequent flight. She
is very ILL., we have been told"
HAD AN AccoMPLIcE.
The fact has developed that Seley had
an accOHDllce IN tNe person pl n ut-
postor. whose identity the bank officers
will not reveal at present He, as well
as Seley, is a fugitive.
Seley was an old and long trusted en-
plOve. Seev worked through a cOnfed-
crate on the outside. who had been a
depositor I'm the bank for thirty years.
The bank pursued the old-fashioned
ledger book method. which permitted this
conspiracy 10 exist without detection.
Under ,he cid system no deposit slips are
used. the depositor simply presenting n
pass-book i'm which the boOkkeeper writes
! the amount of the deposit.
The scheme as worked by Selev and his
confederate was very simple. SeleV en-
! tered false credits on the pass book for
/ small amounts. charged them in another
account. and carried these charges along
/ I'm a clever way from year TO year These
! peculations began about five years ago,
| and he'd swelled 10 the total Of 1854 0D
/ when the discovery was made. Some time
| ago the bank decided 10 change tie system
of keeping books and adopt a more modern
method. Seley Immediately knew that his
/ Justification Of the books would be re-
vealed and disappeared.
is THIS rHr pFPosIToR?
The name Of the depositor implicated
with ,Bookkeeper Eeley is said to be
| Frederick Baker lawyer. The bank Of
| fcers entertain sanguine hopes Of bring
! ing either one or both 10 Justice. and
| recovering at least part Of the lost
money.
! Ban k Examiner Kimball this afternoon
! said that after the discovery Of the de-
! falcatiOn by the bank officers a Meeting
! of the directors was called for Thursday
night.
Bookkecper Seleys lawyer. Frank w.
| Angel attended the meeting by prear-
raneement with his client. He made a
! statement TO the directors Of the bank.
being in substance the story Of the de-
falcation as told % him by Seley.
Mr. Angel sail Seley told him that he
IA oil
! the big defalcation. The balance of the
money. he said. had been secured BY the
! depOsitor. whose name the bank officers
refused = divulge.
The police machinery all over the
country was set working, and is working
now, 10 effect the capture Of the men.
What clews the detectives have Is not
yet known.
s'LEY's WIFE AT DVATH's DOOR.
death from the shock.
The stealing is remarkable, inasmuch
as there seems at present no explanation
Of what became of the money Having
acquired his share of the $3j40 600. Seley
either lost II In some speculation or saved
il. u mixing that when exposure threa
entd he would take To fight and live al
ease for the rest Of his days According
10 the unanimous opinion Of the bank
officers he lived within his income, which
was comfortable If not large. He was Il
neltneT
gambled, attended the races, nor spent
his time with abandoned women. He was
much respected and trusted by all who
! knew him.
The Seley defalcation is the largest
'since the Hill robbery of the Ninth
National Bank, in 1891. Hill was presi-
dent OF the bank. and the discovery Of his
wrong-doing was not made until after his
death. HilPs defalcation amounted to
about $4,000. He was in charge OF the
bank up TO the time of his death. and
the defalcation was discovered shortly
after his successor took office.
frederick a. Baker r,wned.
FLUSHING, l.. l.. Nov. 2l.-Frederick
r. Baker prominent resident of Sands
| Point, was found drowned to-day along
side his upturned boat II is stated that
, he is none other than the Frederick r.
| Baker whose name is coupled with that
| OF Bookkeeper Seley in connection with
the robbery OF the National Shoe and
Leather Bark by the latter. Ii is known
that New York detectives arrived at
Sands Point to-day with a warrant for
the arrest OF a prominent man of that
place.