The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1894-11-30
A 100000 Steal.

in bookkeapers, &c, is again demons
trated by the recent exposure Of
100000 thief in New York. He
was bookkeeper in the shoe and
Leather Bank, and his peculations
had been going on for nine years.
This is considerable money to steal
before being detected. 1t is quite
likely that this respectable thief
managed to get considerable high
| life out of that amount. His name is
Samuel c. Seeley, and being very
bright and pert, he knew just how to
do it, and how any bright and smart"
young man can do it. Report says
he was an old and long trusted en-
ployee. But he seems to have pat
termed after Josh Billings mule that
used to behave itself SIX months at
time just to get good chance to
kick him. Mr.. Seeley operated very
cleverly through outside accomplices
who were SO called depositors at the
bank. Frederick Baker, bright
lawyer of Broadway, is mentioned in
connection with the requisite brans
to secure the bulk of the Doodle
through the trusted bookkeeper, and
cashier, Mr.. Seeley.
The defalcation illustrates not only
the benefit of change of bookkeepers,
but also the importance Of discarding
the old and adopting the new and i'm
proved methods of doing things
generally, the style of bookkeeping
in banks being no exception to the
rule
The bank pursued the old fashioned
ledger.book method, which permitted
this conspiracy to exist without detec-
ton, Under the old system no de-
posit slips are used, the depositor sim
ply presenting a pass-b ook, in which
the bookkeeper writes the amount OF
the deposit.
The scheme as worked by Seeley
and his confederates was very simple.
Seeley entered false credits on the
pass-book tor small amounts, charged
them in another account, and carried
these charges along m clever way
from year to year. These peculations
began about five years ago, and had
swell ed to the total Of $3s4,ooo when
the discovery was made of the defal-
cation.
| Some time ago the bank decided
to change the system ofkeeping books
and adopt more modern meth cd.
Seeley Immediately knew that his
Justification of the books would be re
vealed, and disappeared few days
ago while the overhauling Of the
books was in progress.
The method was marvellous in its
simplicity. When Baker wanted
money Seeley would put down to his
credit any sum that he thought right.
This sum he would deduct from the
account of some other depositor, one
which was not usually disturbed by
additions or with. .drawals. This, Of
course, would not be discovered IN a
very short time, and when it would
come time to balance this second ac-
count Seeley would simply transfer to
it the necessary sum, which he would
deduct from third account.
| In this way the books would show
no shortage. Baker would get all the
money he desired. This plan was
made all the surer from detection by
the fact that Seeleys ledger never
went into the hands of any other
bookkeeper, while at the same time
he was allowed to write up the pass
books of all the depositors whose ac,
counts he kept in his ledger.
Out of the vast sum thus st olen
the outside accompllces are said to
have gotten it all but about $1,000
which Seeley admits came to him.
And yet there are people who stoutly
affirm that there is honor among
thieves.
Baker the lawyer, who lived in
fine style at his country home IN the
shores of Flushing Bay, seems indeed,
to have had some sense of pride if
not of honors, for he went and drown
ed himself.
| The bank having capital of ST.
900, 900 and surplus of S2oo,ooo
can easily stand the defalcation with
out serious impairment.
| Because of the defalcation and the
unknown whereabouts of her husband
Mrs Seeley is now dangerously and
probably fatally i'll. Thus we have but
another record of the curse of vanity.
1t is, after all, but one of number
now daily revealed in the papers.