New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-10-16
NEAR DIST ST.
; Oil Paintings,
; Rich Engrovlngs.
) EtcMngS and
5 Water C0l0rs.
i BSCONDlNG BANKER CA UGHT.
ADOLPHUS COHEN ARRESTED IN PHILA-
DELPHIA.
FIEECING HIS CUSTOMERS TO THE

HE FLED FROM THIS CITY IN 1894 AFTER
FIEEcING HIS CUSTOMERS TO THE
EXTENT OF $4,000.
Philadelphia. oct. lj-Adolphus Cohen formerly
n banker at No. 2ll Canal-st. NewYork, who is
said to have abscOnded with $4,000. arrested
this afternoon by Detective DOnaghy In the Broad
st station of the Pennsylvania Railroad. The de-
tectve assisted in the arrest by Alfred DE
Mayo OF this CITY, an Italian interpreter: Leonardo
MorrclI formerly partner OF Cohen, and Johh
Diu. an italian citizen. Morrelli was in cigar
store when he surprised TO see Cohen enter
He had not seen him since December "a. 1894. when
he alleges Cohen absconded with $4,000 which be-
longed TO large number Of Italian banking houses
in New-York and Pennsylvania. When Cohen lett
the cigar store Morrel being unable TO speak
English hucnty. followed his man to the rairoa"
station in company with DE Mayo and Diu. DE
Mayo then hurried to the city Hall. where he Sc
cured the services of Detective Donaghy. while the
others kept Cohen in sight 1t the work OF a
few minutes place him under arrest when
searched $3.50 was found In Cohen's pockets. Cohen
was arraigncd before Magistrate South and was
committed TO await the arrival Of requistion papers
from New-York. He says that the only charge he
will have 10 answer Is that he failed for sIe"" ne
denies that he embczzled $4,000.
Mr. Morreu made the following statement
Cohen and myself had been In the banking busl-
ness In Canal-st.. in New-York, for almost TWO
years. and no idea Of anything wrong concerning
him ever occurred to me. AS We were doing a good
business with depostors and correspondents Ia
towns outside of New-York, things began to look
very promising for us. He shrewd man oil
business. and the smaller merchants oil New-forK
had as much confidence in him as had Ii was on
the eve of Christmas. 1894. that last saw him On
the next banking day went to our place OF buSi-
ness and completely shocked IN the as
covery I rnade that was almost tempted to take
my life All he empty OF cash ana ne
gotiable securities and the bank was wrecked. Inc
amount missing "A little over half a million hol-
lars | waited for time for my partner 10
make his appearance. and. thinking that ne WAS
sick II messenger 10 hts Rome to ascertain the
cause Of his absence. | awaited with much lHpa-
tience the answer to my message. and when IT came
! was still more greatly shocked Put after while
the truth dawncd upon me- and then believed t'lat
my partner had become an embeZzlor AZ soon rs
possible | pac ed the matter In the hands oil the
proper officials and was greatly greved when
learned that he had sailed for his native home.
Italy. 20 whcn him In Ninth-st to-day
IVES very much astonished and ioIiowei MIN TO the
depot, VIII re supposed he was gong 70 TAX q
have helped me. and succeeded in helping to have
him placed under arrest
The victims Of Cohen's alleged perhdy embraced
people In nearly all the little towns IN the Nrw-fork
and Pennsy iyana coal regions as well As many 9'
fruit sellers lost their deposits IN On" crash Hrcbie
Youngson. OF New-York, lost &l'D IN cash. ana
zlcion Penn. compelled to assign for $4,000
other failures were those OF Angelo Deminto. sioe"'
VI I.amy 5000. T. Polonius. $i0nc. Felix iendillio
soOr ali OF New-York. and Frank Dcsanto, OF
Hrtdgrport Conn 5000 Morrelli did all ne could
10 make good TIA. loss. but he could raise only
s500 lie pail this amount to the creditors, and j.
"a lsborng man.
Detective Sergeant Krauch. OF the Central once,
viii be sent to Philadelphia to-day to bring Cohen
to this city on "A warrant sworn out by Pedro fal-
ladino OF No " Baxter-st.. who lost $3.50 through
Cohen's dishonesty.
Cohen who had been a clerk In Ladenburg. Thai
mann a Co = Office No ~ Wall-st.. about three
years ago purchased the banking house OF Palledni
A CO. OF No 2li Cana-st.. this city. and began his
syri.natic robbcrics. His plan to to the
small Italian bankers. who could not AFFORD TO Keep
CORE Spondents abroad and offer To send drafts on
his correspondents AT low commission. When the
drafts were presented for payment In Italy. they
were returned worthless The money which had
been given to Cohen the drafts he spent in fast
living When hiS clients complained to him. ne
would tell them that there had been some mistake
which he would ut once remedy. In this manner
ne managed 10 avoid suspicion FOR about year. ana
the bankers OF Mulberry-st. were greatly surprised
when they learned that hc had absconded. thcy
never having doubted his honesty. Several OF the
Eankers who had been dcfraudcd by Cohen man
aged to Hct their money by SELLING some property
which he owned In Rome. Italy. but the majority
OF them lost every cent. IL was Thought tnat ne
had fled o Europe. and the news OF his arrest IN
Philadelphia created surprise.