Pine Bluff daily graphic., 1894-11-22
TAFT IS 4 DEPAUL7'ER.
He Victinlizes the Chemical
 National Bank
SHORT Sl5,7l5 IN HIS ACCOUNTS.

Eight Acars--u Is said His Friends
 Received Mest of the Money Uscd.
 He VIII Not lse Prosecuted.
 NEW YORK, Nov. 22.--The Chemical National bank, one of the most prosper ous and most conservative institutions in the country has, for the first time in half century, been made the victim of defaulter.
 The amount involved, as far as known, is S15,7l5. and John R. Tait, who was the paying teller, is the official who is accused. The matter is peculiar inas- much as the officials of the bank declare that not cent of the money went to his own use. The proof of this is that he could have taken q, 900, 900 as we'll as a few thousand had he been so inclined.
 Three-fourths of the sum, they say, he loaned to personal friends. taking no collateral, and only in a few cases re- ceiving as much as an 0 U for the money handed out. The rest, it Is said is due to orders made by Tait in paying cash. It is estimated by President VII. Hams and Cashier Quinian that the ex- cessive worry caused by these loans re- duced Tait to such condition that he was hardly responsible for his actions and made many mistakes.
 Although the first loans were made more than year ago the shortage, hav- ing been carefully hidden, was not dis covered by William H. kimball, the national bank examiner, when he in- spected the institution officially in May, last, but 1t WAS he who unearthed these peculiar transactions, having in pri- vate capacity been employed to look over these books.
 Tait, who is nearly 50 years old, has been in the banks employ for 2e years, having first been messenger boy. His salary of $4500 year with bonus of 10 per cent of that sum every Christ- mas enabled him to support his family in nice style at Mount Kisco It is known that he never speculated and that he lived within his means. AL though it conld not be learned to whom he made the loans, check made out by c. H. Babcock on the Twelfth Ward bank for $l3, ,250 was found among his cash. It was the first day of the ex- animation. Babcock is said to bs Tait's brother-in-law and is a contractor in this city. Tait's bond is only for $5000. He will not he prosecuted.
 William H. Kimball was employed tn private capacity to examine the affairs of the bank. After Mr. Kimball counted the cash Tait, it is said, took 1000 of the money and handing 1t to the ex- aminer's assistant said 1t should be counted. MT. Kimball's attention being drawn to this his suspicious that all was not right were confirmed. He deter mined to say nothing, but to recount the cash items the following day. This he did and, much to his surprise, the Bab- cock check for SIS. .250 had disappeared This made q total shortage of $15,715, the rest being accounted for in the errors natural in the business.
 When Tait's attention was called to this he stammered out some excuse, but it would not do. MT. Kimball asked him to prepare another cash sheet. He tried to do so, but finally declared that he was altogether too nervous and sick to do so. Then he went to Cashier Quinlan and told him the same thing, and was advised to take his time. Ex- aminer Kimball left him in the bank at 5:30 o'clock, Cashier Quinlan having promised to be on hand at that hour.
 When the cashier walked in he found Tait, his head bowed on his desk, look ing the picture of abject misery. He said he was unable 10 make a proof sheet, and then he blurted out that he wished MT. Quinlan would accompany him to President Williams house, as he had something important to communi- cate to him. They left the bank to- gether and went Ut onco to the residence of the president, finding him at home. President Williams said the interview that followed affected him as much as it did the paying teller.
 Bursting into tears Tait confessed that he had done wrong, but so crushed and humiliated was he, and so badly did his mental powers seem to be impaired that he could not make any satisfactory ex- plantation. Admitting that he had wrong fully used the bank money. he declared over and oyer again that he had not profited one cent by so doing, nor had he used q dollar for his own benefit. Friends who were hard pushed for cash had come to him, he said, and had urged him to lend money to them. Believing in their honesty and never doubting that they would repay him, he handed over the banks money in sums ranging from $100 to 5000 to them. ~ss
 Tait is suffering from nervous pros- tration at present and could not be seen. He is pillar in the Methodist church and Sunday school. He has offered his handsome residence in Mount Vernon for sale. = =.
 M a Postoffice Robbed.