The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-02-10
ROBBED BY IT'S CASHIER.
THE FIRST NATIONAL BANK or VAT
KTNS CLOSES IT'S Doors.

Cashier Love M,--i-s with Asout 100000
OF the Bauk's Moncy-His Coat, vest, ard
nat Found on . wharf on Seneca Lake.
but a. Il Not Believed that me Cos-itted
suicide-ne Had Been AdvancipR Ms-ey
10 the We Muneie Improvement Company
WATKINS. n. Y, Feb. a.-watkins was stirred
up to-day by the closing Of the First National
Bank. Soon after IL o'clock q notice was
posted on the bank window as follows:
Closed account Of the Cashier running away
ADEilS TUrILN, President
It didn't take long for this news to spread
and 10 cause the most intense excitement as
the First National 10 the principal bank OF the
village and nearly the whole town does busi-
ness thera 1t was some time before any in
formation could be got. and then it
was learned that John w. Love. the cashier.
was missing and that the funds Of the bank
were SO crippled that It was impossible to do
business. The first intimation that nything
was wrong was when J. s. Love. q younger
brother OF the cashier. went to the Post ONCE
this morning and received letter from his
brother. which said that the writer was short
In his accounts at the bank. and that the con-
dition Of affairs was such that he couldn't
stand 1t any longer: that no one was to blame
but himself and that the load was too heavy
IOT nlln " carry, huu tHdL was clNuoE kOiub
away or going to commit suicide by shooting
or jumping into Seneca Lake.
Young Love Immediately won't to the bank
and gave the news to the other officers pres
emit A hurried examination followed. In the
safe was found between 1000 and $1,000 in
cash. Further investigation revealed the fact
that tho books had been fasifed and that
Loves accounts were short somewhere in
tho neighborhood of $4,000. Although
there is considerable guesswork about this.
the last report OF the bank showed tho
cash on deposit to BIO over $4,000.
and II 10 argued that since that time the de-
posits had increased rather than diminished.
The President at once telegraphed the state Of
affairs to the Comptroller Of the Currency In
Washington. and the order was received to
close the bank at once and await the arrival Of
an examiner This was done.
All day a crowd OF people surrounded the
institution. which has done business for a
Formation IN but got Very lille At About
noon: On Con. MeGess boat house does:
jumped into the lake and drowned himself
lieve this 1t was ascertained that Love was
about yesterday as usual, that he took supper
va; ,soips to Penn Van % attend
rying toward the depot at about train
time and to one or two ompanions he
known SIS NJ by many Northern Central en- p oyces.
and II is believed that II he took the train no
sSsn o Of g ~
believed that certain persons could tell more
Love was "a years old and had been cashier
Of the bank ten years. taking his fathers place
when he died. the family holding slo'oooi In
For several years Love had been Interested
pany which bought big tract OF land, erected
large hotel. built factories and then tried to
With oees ia New ' YORK Is the manager Of tits
company. and 1t lie known that Love advanced
ire sontroi Of the bank acting pasinT teller
receiving teller, and cashier. and discounted
and used the bank hon money as ne desired;
they took very little interest except to draw
their dividends. There is no doubt that the
on and they could not sell their lots. and as the
and having made himself crIminally liable. lie
Love is highly spoken OF. and was a great
favorite. He never drank or Rambled. and
was unusually close IN his expenditures. his
only s6,!.vaga1sss being the owns5.nip pf
the revelation. Loves friends argue that he
went away without money; or he would have
failure is liable to be good deal more severe
than now appears:
circle OF people, including many farmers. and
although the officers now say 1t will nay in
full conservative men decla that this 10 very
doubtful and tina. number OF the stock
holders will he ruined by tho assessment that
will be necessarily levied upon them. The
bank was capitalized at $50. 900.
WAsHINGToN Feb. at the request OF the
President OF the bank. Comptroller Eckels to-
day directed Bank Examiner Josiah Van
Vrackin to proceed to Watkins. n. Y. aud ex-
anime tho First National Bank OF that place.
II was said that Mr. William Benger OF l5l
West Thirty-ith street in this city could
throw some light upon Mr.. Loves transac-
tions with the company. lie Is said TO be the
manager OF that concern. MIR. BenRer has
been the reputed owner OF the apartment
house where he lives, for about three weeks
lie comes from Indiana Shortly after tho
news of MIR. Loves disappearance reached this
city yesterday MIR: BenRer went away. taking
his Baggage. and leaving word that lie would
be away about week.
.I,u,u I.IIaI ~, SInu M. aL..u.,