The morning call., 1894-11-27
Is ESTATE WILL BE SUED.

I'VE stand prepared to pay out every
dollar of our Indebtedness as soon as IL is
called for. but indications are we will not
be very hard pressed" said one director.
Bank officials scout the idea that Seely
and his accomrlice Baker. were aided by
another confederate. Baker is credited
with 5000 balance. but IL is understood
this credit is bogus. The sons of the late
Frederick Baker insist that their fathers
business record was immaculate; that it is
absurd to charge him with completely in
Seely's wrOngdoing, as he had depositin
the bank and left no papers as evidence that
he ever had had any Transactions there.
On the other hand. bank officials assert
that Baker has been a depostor for thirty
years. 1t is intimated that the directors
are in communication with counsel re-
gardng proceedings to secure property
left by Baker as indemnity for the
banks losses through his operations with
Seey.
Paying Teller Gilbert Sayres said to-
day; "There is not a shadow of doubt
that the man found drowned at Flushing
on Saturday was Frederick R. Baker, who
assisted Seely TO rob the bank and TO
whom 1 personally paid money. I have
known him at least eight years and during
that period have paid him money at least
three times a week. Baker always pre-
sented his checks personally. l never re-
member him sending any By a messenger
or a clerk to be crashed. He generally
came about three times a week and the
checks woul1 be drawn for odd amounts.
never over $500 at time. In order TO as
certain positively whether the man found
drowned at Flushing was the same Baker
i made journey there last night, and no
sooner saw the body than l identified it.
His sons told me they could not believe it,
as they never knew he had an account at
the Shoe and Leather Bank, and could not
find the slightest trace to verify it among
the dead mans papers"
II Seely is alive the bank officials Will
do all they can to bring him back, as his
evidence is absolutely necessary to re-
cover the losses from Bakers estate. II
Seelv can be communicated with it is
thought the bank officials will offer him
inducements to return. which will be a
practical guarantee of immunity from
prosecution.
After a session of an hour to-day the
directors meeting adjourned until 3 |
o'clock. No authoritative statement was
made as to the amount Of the assessment |
that ii had been decided to levy upon the |
stockholders to meet the impairment OF |
the capital. Director Beach would neither /
affirm nor deny the truth of the statement |
that it had been decided to make the as
sessment per cent. Offers of assistance |
from other banks were declined with the |
assurance that the aid was not needed, as |
the bank had received in deposits to-day |
more by 90 per cent than the Withdrawals. |
The directors decided upon the adoption |
of a system of bookkeeping which, they |
declare, will preclude the possibility of |
the recurrence of the wrongdoiDgs such |
as Seey's.
The family of Frederick Baker, the al |
legged accomplice of Bookkeeper Seely, had |
arranged that the funeral of the dead man |
should take place on Wednesday. but |
postponement is likely to be necessary. |
The Coroner insists that an autopsy shall |
be held in order to settle, if possible, the |
question as to whether death was accidental
or CT suicidal design. There is a theory |
that an autopsy will reveal the presence |
of poison in the internal organs, which !
would in part explain the fact that the |
body was afoat soon after death.
1t has now become a question as to |
whether estates of which Baker was the |
trustee or executor have not suffered by |
his speculations. Augustus Kagel, one of |
the heirs of the estate of Gottl eb Kagel |
reported at Bakers Office upon the author
ity Of the bank named that be had ascer-
tanned that siXty-fve shares of the Chat
ham National Bank belonging to the es-
tate had been transferred by Baker, May
g. 1879. The bank authorities refused to
say to whom the shares had been trans
ferred, but stated that, as executor, Mr..
Baker had the right to transfer them. Mr..
Kagel was excited.
81 would have trusted Mr.. Baker as a
father" he said. Here he has been pay
ing me the dividend of the shares regu-
larly, and he transferred them fifteen
years ago without me knowing anything
about it, The shares are no longer in the
name of the estate"
Director Beach said this afternoon
that the announcement that 90 per cent
assessment had been levied ON the COM
mon stock was premature. LESS than
that will cover the loss caused by the
defalcatioD," he said, "but we 10 not want
TO stop there. We intend to restore the
surplus TO its old figure and in order to do
this it may be necessary to levy an assess
ment of % per cent or more"
This afternoon representatives OF the
Shoe and Leather Bank went to the Park
National Bank and Safe Deposit vaults
and with several officials of the latter con-
Germ opened Bakers box. In it were
found a lot of unimportant memoranda, a
check for $40, $270 in cash and a will exc
cuted In 1871.
Business atthe National Shoe and Leather
Bank was conducted as usual all day and
the receipts and disbursements showed no
extraordinary condition. The bank Of
ficials asserted that they had no doubt
that the bulk of the money taken by Seely
and Baker would be recovered.
President Crane of the Shoe and Leather
Bank, who was seen after the meeting of
the directors, said: THE directors did
not meet TO fix upon an assessment of the
banks stock. We have no power in the
matter We can only suggest to the
Comptroller of the Currency the necessity
of such action"
EVice-President Pease was asked about
the effect of the defalcation on the bank.
81 am prepared" he said, ito buy at
- ho hap NIL nir Z 4