New-York tribune., 1899-01-11
6e eNeY98eroof|yo. 9e
NP. WTRSTER DROPPED OUT.
DECLINED REELECTION AS DIRECTOR
OF THE MANUFACTURERS BANK.

RESULT OF 4 DISPUTE OVER CHEcKs FORGED
AND cAsHEp py AN OFFICE BOY.
Through the dishonesty of office boy who
had been implicitly trusted ex-Mayor Frederick
W Wurs;er lost about $1,000 forged checks, and
on account OF a resultant dispute with the officers
of the Manufacturers National Bank MI Wurst-
er's account has been withdrawn. and yesterday
he retired from, the directory Of that institution
The dispute happened some time ago. but came
out yesterday when. at the annual meeting
Thomas r Cooper chosen as director In
place Of Mr.. Wurster.
The firm Of i. W. Wurster & Co. did Its banking
business with the Manufacturers Bank. boy
employed by the firm who had been trusted In
certain transac ctions. had checks made out 10 nc
titous firms. As they were for small amounts
Mr.. Wurster signed the checks without question
The boy then took the checks. which would be In
dorsed with the fictitious name and would have
them cashed by the paying teller when he went
to make deposits for the firm. This procedure went
on without detection until some $1,000 had been
dishonesty withdrawn.
The bov was discharged Mr. Wurster then tried
70 settle the matter with the bank ofncials inc
latter declared that they were responsible for
the loss which they held was caused by careless
ness on Mr.. Wurster's part The ex-Mayor thought
that the bank should held responsible for the loss
because they had paid money on checks when were
technically forged. He also said that he had never
John Loughran. president Of the Manufacturers
Bank made the following sta atement:
There is really not much in this. There was
a little misunderstanding about these checks, and
we could not agreed In the matter. Finally. Mr.
Wurster withdrew his account and requested us
the matter the bank officials decided 10 pay the
checks"
When Mr. Wurster vas seen at his office yeser-
day afternoon, he said: .
''You cannot bank against forgery. We had
implicit faith in this boy and thought he was hon.
est. Ny partner secured him, knew his father and
mother. and. in fact. had helped them. He would
these checks. which they had business to Go.
The cashng OF those checks made the boy dis
homes; and induced us 10 keep thief in our office
a year and half before knew IT,
THE law throws a mantle around every de-
positor. ty which he get back every dollar he
puts IN bank. We AZ 10 have ourselves
importuned by some of the directors TO COM
promise and IN that way we settled the matter.
They still have 1850 of money. but owing to
thought il better get out OF the bank entirely.
This boy never authorized by my firm to
draw penny from the bank. and when the
bank took itself the responsibility OF cashing the
checks it did at its own risk. We confronted
the young man with his dishonesty and he broke
down and confessed"
The full Board OF Directors as elected by the
+. Burroughs, William Dick. John II. Shuts, John
Loughran. Louis Wintjen. James Rodwell Andrew
p: Baird, Conrad q. Morrel John Mo.lenhauer
William Y. Garrison George L. Fox, Jacob T.
Heaey. Bernard Gallagher, George P. Jacobs and
Thomas +. Cooper