The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-03-29
CLERK EDGAR GOT $4,000.
TOOK IT FROM THE PROFITS OF TEE
TBADBsME0's M TIoNlL s<HK.


Esd. Aesorsi-s - P-esias-t er.-.is, H..
Made = F-u Ce.f.s,iep-Hs H sisk
Ases New s-s watched ~ Detsetivs..
Frederick E Edgar. for nineteen years .
trusted employee OF the Tradesm ems National
Bank Of 201 Broadway. IL accused Of being .
defaulter TO the extent Of about $1,000 The
fact has been known for several months By the
of1cisls Of the bank and the offioisls OF the
United States Guarantee Company. who are
on his bonds. but for some reason II has been
kept secret. It came out last night through =
mistaken report that the Presid ent Of the bank
James L Grannis; the Vice President. Logan
G Murray. and the cashier. oliver Y. Berry. had
resigned. Mr.. Murray has resigned. but the
other two have no intention OF doing 90. and
Mr.. Murray's resignation II in no way con-
neotsd with the actions Of the clerk.
Mr.. Grannis was seen last night at his home.
the LanEham Hotel. e81 Fifth avenue.
Mr.. Edgar" he said. had been discount
clerk Of the Tradssmsn's Bank for more than
nineteen years. He was clear-headed. bright
man. and one In whom We had the most i'm
pllcit confidence. Nobody suspected that
there was anything wrong In his accounts
when. about the middle Of last January. he
was taken suddenly and seriously Ill. and he
has not been out Of doors since then. Another
work. and In less than weeks time this young
man ran across two or three irregularities
that though unimportsnt in themselves. led
to . thorough examination OF Ed9ar's ac-
counts. The examination extended back over
period OF five or six years. Beginning about
four ears ago. It was discovered that Edgar
had been falsifying the earnings OF the bank
and from time to time had taken out moderate
amounts. aggrsgating in all between $4,000
and $1,000.
=" His dishonesty was not discovered because
he had been careful not to interfere with any
OF the assets OF the bank. He had taken only
from the earnings. and not the assets. You un-
derstand. Of course. that bank makes good
part Of It's money BIZ discountinR commercial
paper. He had the handling Of the discount
profits Now. for instance. when . note
was discounted with . profit to the
bank Of say. for example. $500. he
would take q portion OF this $500 and
would credit the profit and loss account with
the remainder. As the profits did not figure
nations made frequently by the officers Of the
sminer did not disclose the discrepancy.
The sums taken were all small. and the total
O. course dd o. nes "sc
tho assets Of the bank or the. capital in any
+. took %ass sSs p sa .s The
ass less snasp he
soon ' as the diSicuity was discovered ed his
surety was called In and was party to the sI-
when the examination was about com plsts.
cashier. called on MI Edgar at hi: home in
He Informed Edgar something Of the dIsSoS:
cries. aud Edgar broke down completely and
Ing Tor about four years. and. although he
ss:ss.i y: q K: al =: 3:
oss s:s aS.i T liz bank ss %a: ON. s
greatest confidence in him. He was apparent.
II always faithful employee and very attsn-
a year al can't imagine how he spent The he
money that he took 30 far As I know he
ss .bou. .Ssny h hs oss
Sai e s1% .nt yea s.s I'd
vim. Of cour:s:. pay to the bank the $40. 900
S01fS to Ssy hass &c al hi.
shanxe when the bank decided to take cor
His long service TO the bank will not pro-
Get him from the consequences of his acts.
he surety company in ease he. RECEIVERS from
ais illness, which is still, l understand. quite
serious. he Is suuering from eryslpelas. There
q no posi- biiity Of his escaping, for the surety
IL looking out for him. The total
amount that the bank can possibly lose by his
is $1,000. and. as / say. the amount
zones from the profits. and does not In any
way affect the banks. securities proper. the
Mr. Edgar IL about so years old. Heisa men,
ser Of the Grand Army Of the Republic and as
! soldier fought through the last war. He Is
married. and has two children. According TO
he bank officials his mode Of living in Brook
IN has been modest, and he always has had
he respect Of his neiGhbors. He IL q church
member He II . man OF exemplary habits,
M neither drinks nor uses tobacco.
Mr.. EdgAPs neigh bors say that about three
ears ago he bought his present residence at |
IS4 Greene avenue, a three-.tory house. and |
furnished 10 rather hand somsly.
He also got a horse and wagon Mr.. Edgar. |
DON after the close OF the war. held ONCE |
lndsr Commissioners Fowler In the old Water |
3oard.
The reported Wholesale resign atiops from |
be bank were due probably to tho fact that |
Ice President Logan q; Murray rendered his |
AZ. Mr, Murray Determined TO resign his |
itself to bin OF = more favorable
he annual meeting that h: would soon leave
and 70 he Sa a the
nnual meeting which was held on Jan 81 |
Is has had little to do with the bank recently, |
nd on Friday he requested the directors to
ecspt his resignation II was accepted with |
- - nj ha board