New-York tribune., 1899-07-19
VALENTINE SENTENCED.
SIX YEARS IMPRISONMENT FOR WRECK
ING THE PERTH AMBOY BANK.

Brunswick, July Is (SpeciaD.-George
NJ Valentine was this afternoon sentenced u
six years Imprisonment in the state PRISON ior
wrecking the Middlesex County Bank at ferth
Amboy and robbing the savings institution Oh
.he same place Valentine came into court at
3.15 o'clock He was accompanied by his wite'
his father and his uncle, Howard Naieh'ine'
Prosecutor John S VOORHEES, read the charges
against Valentine and Judge j. kearny hlce' IN
both cases. said that the prisoner pleaoeo hoh
vult Edward s. Savage. counsel for the Naien-
tine family earnestly pleaded TO the court iof
mercy He said that since his arrest valentine
had done everything in his power 10 ala .ne
bank officials in Strengthening out thelr anans
and would do what he could TO lessen the extent
of the banks loss. Judge Rice mace no piea,
Judge Strong was greatly affected as ne oesan
mis- remarks 10 the young man In sehtenoIns
the prisoner Judge Strong SAID ~ ls ho' In, IN
,urnose 10 saw words in your trouble that Will
increase your distress. You are youhe' ~
had a great temptation placed before you % aIio
you yielded. Now you are charged heie WloN W. seo
crimes There is no vindictiveness IN the sen sen
tence which / am about TO impose upon you
Ii is in my power to sentence you u ,,,as sGre
Years IMPRISONMENT on each Oh III" NiiI''
charged against you, making fourteen years ~ ~
all at hard labor as well as 10 pay @ IN. Sa
50 600 The sentence of the law is that you Dc
confined 10 the State Prison for a Term VI "a s,S
years for theft from the savings hstt W. .; 60
County Bank the two terms 10 run cOnSuI
rently. making your term six years anu ii0i'
that until the costs are pald =, , ,r,tb
Valentine left the courtroom arm IN arm WIZ. WIZ
pis wife Roth displayed great enotioh p1'
neither broke down during any OF the proceseu.
ings The sentence of Judge Strong - ".S' no.
Was generally predicted. II is rOmored thal ths
total of Valentines defalcation has been fouho
TO be more than S2OO,OOO.
Perth Amboy. July Is (SpeciaD.-The Per'h
Amboy City Council last night passed resoiu-
tion directing the treasurer TO issue Slo'oVV III
anticipation bonds. to provide money 10 run
CITY affairs for the balance OF the nohIn "
July This was made necessary uy 'he ue "a
cation of Cashier George NJ Nalen'lnSr e, VI " ~ on
Middlesex County Bank. the bonos wiz pT T, IN u
wear bonds and II is expected that they WIN os
taken by the new National bank TO De opeHeu
here within few days. . , ~, .ha
Introduction of a resolution presented by Aluer-
man August Kroeger. OF the Comml.tee oi
Streets. which directed that the otIee. % ~ his
missioner be instructed to discharge two or MS
men in order to reduce expenses hr0eeeI
stood alone In his attempt TO make gooG .he
citv's loss of $4,000 by the discharge OF TWO
Inen Who are paid less than 50 day. After
every other member of the Board had r1diculed
Kroeger and expressed his faith in the cit!
ability TO carry on it's affairs without embar-
rassment Kroeger sheepishly withdrew the
resolution II is stated on excellent authority
that the promoters of the new bank are reauy
10 advance any amount the city may heeu;
No bank was designated by the CounclI as d
depository Of city money. Treasurer Garret
Brodhead and Collector c. f. Hall are there.
fore obliged to Gaze for the money they have at
their own risk.
The news of Valentines sentence at New
Brunswick this afternoon produced eXctenent
second only 10 that caused by the news OF MS
defalcation. The street corners were again oc-
cupied by groups of business men discussing the
latest phase of the banks trouble Many com
pared the sentence with that OF James -,
rTooker of Perth AmbOy, who is serving d term
of eight years for shooting an Italian poacher'
Tooker was game warden at the time
Receiver James Mcguire to-day ordered the
hank examiners to cease work on the DOCKS OF
the bank and nothing more will be done toward
ascertaining the amount of Valentines delalca-
ton until Mr. Mcguire or some one else is maui
permanent receiver. The examiners told
Tribune reporter to-day that the shortage now
known is S20S000 1t will not be less than that,
they said and further investigation may auu
$4,000 to the amount missing.
tended to embitter the depostors OF the pank
against the officers of the institution anu
Prosecutor Voorhees, may be asked 70 brlne the
whole matter before the next Grand Jury with
a view OF indicting the officers, who are now
being held responsible, in public opinion, nn lOI tie
easy way in which Valentine wiped H-oo'ooo ou'
of existence so far as the local bank was con-
cerned. , .
There is more than a possibility that some Of
the depositors may not walt tor tne ais. tbs
officers of the bank at once In the crlrnlna,
courts John II. Gregory. Max Goldberger ana
4 IL
consulted lawyers. and who say they are not
rontent 10 have Valentine alone punished. MT.
Gregory and Mr. Goldberger are business men
here Crosby and Hill are drygooos9 9,r men 'rauine
under the firm name of Crosby 4 Hill
If they make charges, they will be based upon
conditions with which Valentine had nothing 10
do directly They say that the bank ofncers
knew by noon on Monday that something was
wrong BY Monday night they must have begun
10 realize how serious the state or aftars was
Despite this the bank not only remained open
nil dav Monday but also on Tuesday, Wednes-
day and Thursday. During this period business
was carried on usual and deposits We're
taken Between the time the situation must
have been clear to the banks officers and the
nime they closed down Mr.. Gregory deposited
50 OOO Mr.. Goldberger $4,000 and Crosby q Hill
81 600
MIR Gregory is particularly incensed. He de-
posted the 50 900 on Thursday In the ordinary
course of business the check would have taken
at least twenty four hours to reach the bank IN
New-York on which IT was drawn. Had II gone
through the regular course the money would
not have been credited to the Middesex Bank
through its Clearing House agent before Frlday
at noon. Still, on Friday morning the check had
been cashed by his NewYOrk bank. Mr.. Greg
,ory claims that as soon as he paid In the check
q messenger was sent to New-YOrk with II,
and it paid over the counter. thus avoid
ding the delay of the Clearing House and getting
the actual cash into the possession OF the Mid
.dlesex Bank. He declares that had the usual
course been followed he could have stopped the
check Friday morning and no one would
have suffered
MT. Gregory claims tnBI lDlS dIdlI dlOne rem
ders the officers of the bank liable to criminal
prosecution, and he says personal friendship
will not deter him from taking the formal steps
Warrants may therefore be issued at any time
for some OF the banks officers.
The date for reopening the Perth Amboy Saw
3ngs Institution is not known. It's belongings
are all tied up In the Middlesex Bank. and Mr.
Mcclure is not inclined TO let anything in the
offices get out OF them until he has had chance
70 what II is.
Washington. July Is (SpeciaD.-The applca-
tion has been approved Of Hamilton F. Kean,
Union. n. j.; Amos T. French, A. F. Retmeyer
John /. Waterbury and Edward Nugent for a
charter for the First National Bank of Perth
Amboy, with a capital Of 100000.
A TOUCH OF SUMNER RESORT WEATHER.
New-York placed her reputation a summer
resort on frmer basis than yesterday. The