The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-07-16
THE CASHIERS
STORY OF RUIN
Gambling in Stocks Wrecked
Valentines Life.
THIS LED HIM TO THEFT
LURED ON THE HOPE THAT
SOME DAY HE'D WIN.
LOST HIS LAST DOLLAR IN WALL STREET
Without Fo,d or Shelter Under Which to Lay
His Head. Amount he Has Stolen
Will Amount to $4,000.


New York. July 15.-It is estimated
that the theft of George NJ. Valentine.
the defanlting cashier Of the Middlesex
County bank at Perth Amboy, n. J., will
amount to $4,000 or more. The bank
examiners are pushing their work of in
vestigation as rapidly as possible, and
the exact amount will not be known
until the examination has been COM
pleted.
Edward s. Savage, counsel for many
years for the Valentine family and the
man who practically delivered up Valen-
tine to the authorities. today told the
story that Valentine himself related to
his father, his uncle and his wife con-
corning the defalcation.
Valentine, he said, confessed every
thing at his office on Thursday last He
appeared at Mr.. Savage's office as the
result Of an advertisement which APP
peared in New York newspaper, on the
day before. He appeared there at 8
o'clock at night and found gathered in
the office besides Mr.. Savage his father,
his wife and his uncle, Howard Valen-
tine who had been summoned. Valen-
tine was pale and haggard, his clothes
were disarranged and his general APP
pearance was that of a man who had
suffered much.
Mr. Savage said to him: George,
Your father will help you if he can.
Unless you will tell us the whole truth,
yon may as well go out that door at
once"
II will tell you everything and do as
yon say. | can stand it no longer he
replied.
Every well. are you defaulter:'
yes l am"
He spoke with forced calm and his
hand trembled violently as he rested
it upon a chair to support himself. He
stood with downcast eyes and averted
: face.
1T is $5O,OOO?"
s.1t is more. 1t is twice that and
more
When he said that. his father sunk
into temporary collapse into a chair
and remained speeches. and motionless
for several moments. When he revi-
we'd, his som continued slowly:
II will tell You all and have 1t over.
do not know how much have taken"
He lesitated and then went on: No,
not taken stolen is the word. l don't
know how much. 1t is all gone and the
stealing has gone on for a long time.
But as there is God above me- hoped
until the last to make a lucky gamble
and win enough to pay back everything.
Then was going to stop. My ruin
dates back to when l was given a gilt
edge tip on gas stock by man who
should have been in position to know,
and who said it was going away up /
took $25, 900 from the bank funds | lost
it almost in day. From that time till
made my last gamble on Monday.
when lost $4,000. which took from
the Perth Anlboy Savings Institution,
/ tried to catch up on my losses OF
course failed.
.'All have in the world of my own,
as stand here. is six cents
/ After reciting how he had lost his
last dollar, in Wall Street and had gone
without food because he had no money:
how he went from doorway to doorway
in New York getting a little rest in
each when he had no money to pay
for hotel room. Valentine said his
attention was attracted by a personal
notice in a newspaper he had picked
up and he telegraphed to the number
given.
Now | am ready to give myself up
if you think that I Should. and expiate
my crime. l cannot say how l feel in
regard to my wife and children. 1t is
too much. / am overwhelmed
When he finished Valentine broke
down. AS he had no money his father
supplied him with some. On Friday he
gave himself up.