New-York tribune., 1899-07-30
Gro. CLINT Co.
A,.4s mo AZ WEST 23:sT.
NEAR BROADWAY.
FACTORY: ls4Ano l56 WEST I9"srRetr
PERTH AMBOY PANK CASE
NOTE FOR $4,000 UNSECURED FOUND
IN VALENTINES DESK.


pertb Ambov. ~ j.. July 90 (SpeciaD.-Presi-
don, Watson OF the defunct Mddlesex County
Bank. to-day refused TO discuss the papers found
yesterday in the desk Of the defaulting cashier
George NJ Valentine. Mr.. Watson denied making
the statements attributed 10 him and refused TO
say whether not he was aware that Nalehuhe
had overdrawn his account 10 the extent OF S2oVOo
nearly two years ago. lie has admitted knowing
that the cashier had no money in the BANK Tor
several davs before his disappearance from the
city five days prior TO the closing OF the pank on
July a. On July g. the last day that Nhlehthe
was at the bank he confronted with TWO ol
his checks. which he could not pay. Mr.. Watson
saw him open the letters containing them and told
him to protest them. Valentine was the banks
regularly appointed notary. and the protest notices
signed by him held In this city ohe OF
these checks for $3.50.
Vice President James r Watson brother OF the
president was more willing TO talk when seen by
a reporter He declared vehemently that the bank
directors had never approved an application Tor
loan TO the cashier on note unsecured. note ol
this kind for SO 900 found among the papers
in Valentines desk and the records or the Dahk
show It as an overcharge against his account.
Louis Briggs said positively that the note IN
Valentines desk purporting to be his. for $1,000,
was forgery He says that he never signed any
note for that amount. Valentine was assignee lor
BRIGGS who conducts clothing business. ana had
been in charge of his affairs for three years BRIGGS
cashier was in the Mddlesex County Jail and that
Valentine then told him that his accounts as as
slgnee were correct and untampered with Briegs
has not yet been able ascertain the truth of this
statement.
1t is not known whether or not the temporary
receiver James Mcguire. will accept the appoint
ment as permanent receiver on Monday. While he
is being urged on all sides to retain the position
other men are being considered and their names
VIII be presented to Vice-Chanceor Pitney should
Mr. Mcguire still refuse. The most prominent
names are those Of Mayor James L. Compton and
Robert Carson Collector of Customs at Perth AM
boy. Mr.. Compton was for thirteen years collector
of of & T m work 9e hq has SsO Sad
great deal Of experience In tinanclal matters and
Kean. Mr. Kean is largely Interested in the Perth
Amboy Gaslight Company. upon whose application
G. A. Clark. a local merchant had large bal
in the bank. and few days after It's suspen5
had been protested. He has pasted the protest
notice on q S sheet @ Of paper Above 1t he has
''Bank-Where YOU benefit A bank account is
convenience and economy; saves you trouble and
Below IT is the significant sentence Il should say
Captain James Parker will be the legal repre-
sentative of the depositors IN the Court of Chan
cery Monday, The bank will not be represented
according to the statement Of John w. Beekman,
It's attorney.
Receiver Mcguire OF the bank has forwarded to
his counsel Strong & Cadwaader, Of this city the
papers found I'm Valentines private desk. George
w. WlckcrSham, or strong q IdOWdlddtr, VINO Is
10 conduct the detailed examination of the papers
was not his office yesterday. but is expected
there tomorrow. one OF the papers found In the
desk Il is said bill OF sale. dated 1890, for
oil paintings valued So 900. formerly the prop
erty OF Henry r. Chapman. the stock broker. OF
No. 6s Broadway. with whom Valentine had had
business transactions, and Perth Amboy report
had It that Receiver Mcguire had seized these
paintings which In the keeping of the Brook
lyn Storage and Warehouse Company. Mr.. Chap
man was not at his Office yesterday. but person
representing him said:
THE paintings were put up a3 collateral security
by Mr. Chapman ten eleven years ago. for
loan from the bank. That before Mr. Nalen-
tine had anything to do with either the bank or
The pictures remained in storage until the
loan paid and Mr. Chapman now has them.
Mr.. Valentine did not plunge in Wall Street at
least not through our house. lie dealt very light
ly. and successful"
Mr. Chapman himself was quoted yesterday as
saying that he did not believe that Valentine lost
the banks money in Wall Street his theory being
that the bulk OF the cash sunk in the dredg-
1t has not vet been learned what brokers in addi-
ton to Mr. Chapman employed by Valentine
in his Stock Exchange operations Mr.. Chapman
IT may be remembered. formerly in business
at No. 72 Broadway and I'm the fire which few
months ago destroyed that building he lost several
valuable oil paintings which were in his private
off