The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-28
WHAT DID HE DO WITH II!
VALENTINE APPARENTLY A WINNER
IN VAN STREET.

Two Firms of Brokers with Which tne
Perth Amboy Defaulter Made money "
observation-disclosures Disnppenr"hos VI
the S225. 900 He Stole from the n"""
Whenever George NJ Valentine was asked
after he became n prisoner In the hiuu'eseN
County Jail at New brunswick. N d. what no
had done with all the money he stole from inc
Middlcscx County Bank OF Perth Amooy' NO
said he had lost 1t in Wall street He could
never be induced to go into particulars further
than to say he took a friends advice to buy a
certain stock and that was the beginning OF
the end Hc lost that time. and successive
losses wore met with successive stealings. MS
friends believed his story. because most per-
sons are willing to believe any tale the point OF
which is that Wall street has financially ruined
omeOody.
According to the latest figures. Valentine
stole something like $225.000 OF the banks
funds. Usually, when losses OF that magnitude
are sustained by individuals in stock specula-
tons. 1t is possible for those entitled to know
to find out tho details. Although those en-
gagged in strengthening out tho affairs OF the
bank have tried. they have never been able to
trace the course OF Valentines speculations.
All that they were ever able to learn
were the names OF two firms with which the
young cashier traded II. as seems to be the
these firms. then he did not tell the truth when
he aid that he lost the banks money In stock
speculation
The facts nrc that his dealings with those
firms were never on a large scale, and further
more. instead Of losing on tho transactions
which, they carried through for him. he
THE SuN learned yesterday that in all
probability Valentine hogan HIS stock specula.
tions early last Scptem Der with the purchase OF
100 shares Of American Tobacco ON margin.
All OF his dealings were on margin. and the
largest number OF shares he bought. II is said.
was POO. He traded through one firm for ak
months and then closed his account He paid
that firm. all told. $3.50. and received. when
the account was settled .8b. netting him
nroiit Of S2.SJT!E'.
His dealings with the other firm were not so
extensive and covered about the same period.
He was not in the office more than half "A dozen
times and he got out with profit. These are
all the transactions OF Valentine In Wall
street that anybody can find out anything
about.
NEW BRUNSWICK. N. j.. July 27,-James Ma
guir". temporary receiver OF the MiddleseL
County Bank Of Perth Amhoy. has given out q
statement. in which the figures are approx
mate. OF the condition OF the wrecked bank so
far IA his examination has procee ted. Itshows
a total deficiency Of S2i3,aIl Ii. These figures
take no account of the capital stock of 100000
and the surplus OF the same amount Tho de-
ilricncy will doubtless be reduced according to
the ability OF the receiver to recover collateral
on deposit in banks and other places. ns well
rs by his success In collecting accounts duo the
bank From Valentines bondsmen S25.OU
will be realized. hut there is no hope that the
d"posito will recover more than 81 per cent
actual stcaings are estimated at about
SDgD,OOD