New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-26
BINGHAMTON BANKS SA VED.
TIMELY AID FROM THIS CITY STOPPED
THE RUNS
EXAMINER BACKUs REITERATEs HIS CHARGES
AGAINST CASHIER MoRGAN-BooKs OF
THE WRECKED INSTITUTIONS IN
(BY TELEGRAPH TO THE TRIBUNE |

tBY TELEGRAPH THE TRIBUNE)
Binghamton. Jan. 25.-Bnghamton has in all prob
ability seen the worst of the financial panic which
has caused much excitement and such sensa-
tona disclosures the present week. Before closing
time this afternoon the the city banks which
left solid after The smashup had practically
ceased and confidence again manifest In busl-
ness circles New-York banks sent probably
$500 In gold help the local banks in case OF
crisis The city will not recover from the effects OF
the crash. however. for wears to come.
The published accounts of the confession OF Cashier
Tracy r. Morgan. Of the Broome County Ma
tona Bank and Chenango Valley Savings Bank.
caused a great sensation. Morgan had been 80
honored politically. socially and in every other
way for years that the business men hardly could
force themselves TO believe In his dishonesty. tx
aminer Backus who makes the charges against
Morgan OF defalcation forgery and attempted
burglary. said this evening that he had positive
proof that Morgan guilty and he drew out
the cashiers written confession from his pocket
BESIDES this" he said 1--WE the books at the
bank to back me up In what say"
Mr.. Backus made this explanation IN answer 10
statements by cer.aln OF Morgans friends that he
talking to the press too freely. and had no
proof for what he had said. Mr. Backus is greatly
angered by these comments from outsiders.
But why. II Morgan is guilty Is he allowed to
go free%' asked
Examiner Backus replied: Further developments
OF more or less sensational character are expected
He won't leave the city without my knowing it,
Being urged to further explanation the examiner
stated THE books OF the savings bank are In such
condition that 1t will require weeks to go through
them. | never saw such careless bookkeeping Why
since December 81 not a single deposit has been
posted the ledger. At this time / cannot tell
how much has been taken from the bank. do not
believe that during the thirty years Of It's existence
a correct trial balance has been secured. Mr..
Morgan has done much OF the work himself. with
the assistance OF young woman In the Office. and
none Of the other employees In the banks know any
thing about the books Of the Chenango Valley Saw
ings Bank 1t may be necessary for me TO stay here
months before straighten out the affairs suf-
dcenty TO learn the condition OF the finances OF this
bank The day | came there the cash did not bal
ance within $GD II being that amount short dis
covered II was the exception rather than the rule
when the cash did balance the broome county
National Bank Examiner J. Van vraken arrived
this afternoon and took charge OF the Broome
County National Bank under the direction OF the
Controller Of the Currency The friends OF Cashles
side of the story but all attempts 10 interview him
have bs ernnr met the aged cashier e
seventy-nre years old just as ne stepped out OF MS
"Wen, Mr. Morgan" was asked. what have you
got to say about this bank business! ,,, o,.u
I LIZ W. vepv cent OF the deficit If 1t takes all I've
pai in the world. The depositors shant lose
ee"a; aIu do you deny the charges Of the examiner
a
reped and refused to talk furtheT ,,o, ,,s c,,sr,
III attorney. A. Wales, stated that .ls '.,en'
ii'S aither affirmed nor denied the deiaIcadn,oi
lie is very much worked up over me STORES aioaa @
,nndro nv him through thick ana tnn, wiz N e us US
70 believe that Examiner Backus c'aise stod . ~; =,
Foundation in fact. Morgan may oe az, a.. "a dav
anv moment as he Is being watcnvu s sn. sL"a % NJ
by detectives in the employ OF ,San Mr be said that
he would know If Morgan tried 10 , leane ~ 1, hi}s
Mr. Backus is supposed TO nave d We Wa a. casa NJ
rnesession for service on the cashief u" '"'' VI
The doors OF the Bnghamon Irust d SoPay Pnrnyyrnv n
the Binghamton Savings Bank Were op.m tor f,st ~
al O'clock this morning AZ tne icITn. esse
the doors were opened the express 7, ,ained
carried big iron box INTO the % n'' ~ which came
slGO OO mostly in currency az 1 3i 1,,tn i'm the
from the Chase Bank In New ork W, "a "a hIes
Binghamton Savings Bank the counaeI t anu and nlentv
In the rear were covered with greenDacKs anu pney
Of clerks stood by ready TO disDu! se un thn
called for The run continued througno..t n .ne
mnrnine although not 80 extensively az las ever. well
ing Most of those withdrawing the'r iu"'' "
It has been practically settled re,yer tnay of the
Weycbants' Bank which was closed last Monuay'
II is stated that depositors OF the M ater s,e m,
ahlv receive about 30 per cent or their oeP'''''
nresent securities hold good. a., c.o.roo
Albany Jan. 25-The closing OF nhe and,na an
Examination into It's affairs. occasioned by ahd do1a1
covery by State Bank Examiner l3ackus OF 1e,d .ho
cation on the part OF Treasurer Morgan ~, tr tnr
hank is TO be made the occasion unuouo.ea.iHD % ~
ssvines banks from banks Of discount PIns suPerln.
tendent Preston Is informed that M Moran n Lnner
IN p defalcation of from 1000 to *00o Exaihu, ne,
Backus IL uncertain rs to the true amoddt, %
thinks II must be more on account oi '"e "'"'''O
facts constantly coming to light