New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-11-14
WOODS ALLEGED STEALINGS
CHARGED WITH MIsAPPRoPRrATINo Sc
cURIrIEs WORTH $4,000.
HE WAS ASSISTANT CASHIER OF THE LroUIpAT-
ING METROPOLITAN NATIONAL BANK. WHERE
HE HAD BEEN EMPLOYED OVER FORTY
YEARs-cAN'T BE FOUND At HIS

HE HAD BEEN EMPLOYED OVER FORTY
YEARs-cANr BE FOUND AT HIS
HOME AT PTERMos6.
Richard " D. Wood. assistant cashier OF me
Metropolitan National Bank. which mas oee"
In liquidation for fourteen years, mas osap-
peared from his home at Observation-Disclosures
SON, and warrant Is out for his arrest " tno
charge Of misappropriatlng securities OF tne
value of $4,000 belonging to the pank' INC
warrant was issued by United States Commits
sioner Shields several lays ago. and Marsnai
Mccarthy went to Piermort to execute IT, OUT
Wood apparently had been warned. and ne had
fed. Marshal Mccarthy returned to the city
yesterday leaving Deputy Marshal stanord On
watch at Permont
Woods home at Piermont stands on h"s
and no person can approach 1t without peins
in view at a considerable distance from the
house. He was regarded as representative
man in Rockand County. and was esteemed
highly by his neigh oors. They were excited
yesterday by a report that he had been ar
rested Late in the day 1t was said by Federai
officials that Wood was still at large.
J. Connor Smith. the cashier Of the bank. said
yesterday afternoon:
THE charge against Wood is the misappro-
ties. The value Of the securities is the market
value, and not the face value. which may he
30 to 40 per cent more. The warrant for
Woods arrest was sworn out before John A.
Shields the United States Commissioner. in the
postoffice building on Monday last. by Henry
A. Hurlbut the president OF the bank. Wood.
as assistant cashier had exclusive charge OF
all the banks securities. which were deposited
in the vault, Of safe-deposit company for safe
keeping Wood attended to the collection OF
coupons and in short to all outside matters Of
the bank.
woods misuse OF securities was known az
far back August. 1t was thought he could
make restitution. but he could not. or at least
did not. Three months ago Wood was taken III.
and remained at his home at Permont His
physician said he had brain trouble and that he
was frequently derious. His recovery was
slow. and he made only two or three visits to
this office after his recovery. His last visit was
about month ago We heard indirectly OF him
at his home recently as ten days ago.
THE SHORTAGE REVEALED.
when a comparison Of the securities In the
safe deposit vault was made by the check list,
the absence OF the S64 1000 worth was revealed.
The arrest OF Wood was decided upon at meet.
ing of the Board OF Directors. Wood had moth.
ing to do with the books Of the bank. They
exclusively in my charge and are straight.
Woods appropriation OF the securities was
a great surprise and shock to the officers OF the
bark. He had been with the bank for forty.
two years. He entered its employ when boy
twelve years old. His ability. industry ana
agreeable ways procured his steady promotion
until re became paying teller. which position
he had occupied for several years before the
bank went into liquidation in 1894. He handled
millions upon millions Of dollars and his ac-
counts as paying teller were invariably found
to be correct. When the bank went into lquida-
tion his services were considered so valuable
that he was retained as assistant cashier He
had our confidence and that of all with whom he
came In contact
"As far as know. Wood is still under bonds
to the bank, but who the bondsmen are I do
not recall. I know that he and I gave bonds
to the bank at the same time forty years ago.
Wood is ifty-fve years cid. He has a wife and
two children at Piermont. His father-in-law
and brother also live at Piermont."
PROBABLY LOST IN SPECULATION.
The proceeds Of the securities appropriated BY
Wood were undoubtedly lost by him In specua-
tion in Wall Street. were the sums he OBJ
tanned from others In Permont and in that
neighborhood. For several years he had specu-
lative account with Valentine Mott, broker on
the Consolidated Stock Exchange with offices in
the exchange building. Franklin Beames. OF
No. III Broadway. counsel for Mr.. Mott. said
that Woods operations through Mr.. Mott were
favorable up to May last. Then he lost and be-
came indebted to Mr.. Mott in the sum Of $500
He promised to transfer his house to Mr.. Mott.
He said he would send the deed to his wife. who
was in Europe to obtain her signature. The
transfer of the house was never made and. OF
course Wood stopped dealing through Mr.. Mott
Wood doubtless had accounts in several bro
kers' offices first and last His losses are be-
lieved to have been sustained chiefly in the last
three years.
When the Metropolitan Bank was conducting
business regularly. Wood was regarded as the
best paying teller in New-York. He was not
only rapid in handling money. but was accurate.
STORY ABOUT HIM
It is related that one day George I. Seney. the
president OF the bank. said to him:
"NIr Wood you are intrusted with very large
sums Of money. Your bond is only $1,000
think It proper that 1t should be increased. Il
should be $4,000 at least"
Mr. Seney" replied Wood do you see that
small pile OF bills?"
YES" said Mr.. Seney.
"Well it contains S2OOOOO could slip It into
my pocket go to you and say was feeling III
and ask to be relieved for few days. You
would acqulesce. / would cover up the shortage
and before 1t could possibly be discovered
would be out OF reach Of the law. Then could
compromise with you for 100000. Now what
difference does the amount OF my bond make"
WELL" said Mr.. Seney. III you ran away and
your bond was $4,000 the bank would have
$1,000 more than II your bond was $1,000"
THE METROPOLITAN's SUSPENSION.
The suspension of the Metropolitan Bank was
a conspicuous feature In one Of the most memov.
able affairs H. IN, history OF Wall Street to
,,. ~. croot Grant a UorA 90, 49,. -. a..