Delaware gazette and state journal., 1897-06-10

ing catastrophe. Bank Examiner Franc's
y. BneR put them on their guard dnr.
ine his last visit to the bank about
three months ago.
on the occasion OF this Wait Mr..
Buck found the huuss of the benl,
straight to the last figure, SO skilful bad
heen the mnnipulations OF the nnvinU
teller. He did not feel entirely sstisfic6,
however. and so be warned tbe banlk,s
directors He told them that Bogos
was an unusually smart bank ofijcisj.
but that he had beard rumors Of his
propensity to gamble and speculate
iie added that it Boqgs was straight
be was valuable man to the banl, ii
not he was dangerous one. He aiyisod
the directors 10 watch him closely.
Cashier lIateman OF the bank settler,
bis ledger in January last. and found
tho accounts balanced In February.
Boggs asked that he be permitted 10
keep the ledger, alleging as a reason
that IL anything happened to Batep,an
there would be no one in the bank
with a knowledge OF this important
book. Batenan consented, and Bogps
then entered his shortages Ia the ledger
account. Before that he had been
carrying the deDosit slips representing
MS thefts constantly with him in his
| pockets.
While teller of the bank, Bosrs ia
supposed to have kept both money and
slip when a deposit was made, ana thus
there was 10 record of the money, ex-
cept upon the depositor's bank.book
10 case bank book was brought In to
be balanced, Boggs might balance 1t
instead OF the bookkeeper, and thus
would cover up the steal.
Boges was placed at the individual
ledger ON February 5tb, and false en-
tries to considerable amount we're
made Oh that day. His position at the
counter u5 teller was taken by another
clerk, but his opportunities for conceal
ing the fact that ha was making way
with thousands OF dollars wore even
better than before. He still had come
control OF the tsller's cash, for when the
teller went to dinner he took his Mace.
aud when book came in to he balapced
be could doctor the accounts 80 as
always TO make the correct balance.
TheIe is no way OF telling how long
or how short a time Boggs has boe1
stealing, but up to January l4th no
false entries had heen made and every
thing was straight.
OF the defucation of over S1O0. 600.
IL is probable that at least half OF ii
will have to come out of the bapk's
capital, which is 800, O0O The par
value of the stock is 500 per share.
but it has been selling recently at 'sl4S.
An Instance ia known of an out.of.th
State stakeholder owning 100 shares.
who recently decided, nut without the
slightest suspicion Of the real condition
of affairs, that he would sell the stock
and invest IN some other form of se-
curity. He disposed OF all eycept Is
shares. and thus escaped considerable
loss.
The banks surplus, according to the
last statement, was about S3S, 600. This,
OF course, is wiped out by the defalca.
tion. The bond for Boggs given by the
American Surety Co. amounts to $40, 600.
which makes total OF s4S,OOO an
plicable to the shortage There is a
probability OF the other securities given
by Boggs in previous years being avail
able, to the amount of $40. 600 more, but
their liability is a question to be legally
determined. 1t was raised after the de
falcation In the First National Bank of
this city, and is still awaiting the de-
cision of the court. ''"'
Dover, June 0. .-Yesterday's action
by the board of directors of the First
National Bank altered considerably the
condition Of affairs. and when this in
sritution opened its doors this morning
1T was evident that the assumption OF
responsibility by President Harry A.
Richardson had eassd tue minds of
those depositors who were disposed to
believe the rumors afloat instead of
awaiting an official statement from tho
boa,d of directors.
When the days business had been
concluded yesterday the directorR an
nounced that they had turned over to
their president the collateral securities
of the bank. and that MIR. Richardson
bad become individually responsible
for the liabilities of tie institution.
President Winchester of the First
National Bank of Wilmington was here
all day, and when. early in the morn.
ing, it looked like n run On the bank
Mr.. Winchester went outside tho rail
ing and told the depositors that his
hank would sustain tho local insti-
tuition, and as in evidence of his faith
in the First National of Dover he de-
posted the sum of 81, 500 Of his Irivate
funds.
a warrant was sworn out Monday
by Bank Examiner Francis N. buck
before United States Commissioner s.
Redmond Smith for the arrest OF vii.
liam N. Boggs, the defauting teller of
the First National Bank OF Dover,
charging him with embezzlement by
falsifying the books OF the institution.
The warrant was issued by Mr.. Smith
and placed in the hands OF United |
States Marshal Lannan, who will make |
an effort to locate Boggs, and IL he is |
found be win be prosecuted.
Nothing has been heard hore that |
will give any clue as TO the where.
abouts of lioggs, and some are of the |
opinion that ho may have gone to |
Canada, while others believe that as
soon as he hears of the action against
him he will surrender
In a communication to the News,
Samuel Wharton OF Duver. ono of the |
directors OF the First National Bank
there, writes as follows: 81, Samuel
Wharton. ono of the directors of ths
First National Bank uf Dover, have
heard of rumors to the effect that |
and another one of the directors have
beeu drawing our money out of this bauk
sirce the late trouble. desire to etate
for the inflammation of the public and
any Quo else concerned that | have
never drawn a cent from this hank nor
do intend TO, but rather | am de-
positing money in the hank right along,