Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-07-15

County Bank, of Perth Amboy y. j.,
which was closed to-day, has surren-
dered himself and is now in Jail on ac-
count of a shortage in the banks funds
which has been variously estimated all
the way to s165,OOO.
The affair caused CONSERVATION and
dismay among the business men of
Perth Amboy, where the Middlesex
County Bank was considered as strong
as the eternal hills. So panic-stricken
did the residents of Perth Amboy be-
come when it was learned that the
Middlesex County Bank had failed to
open for business as usual this morn
ing that crowds surrounded the Perth
Amboy Savings Institution. What
pear all the more serious was the fact
that the officers of the Middlesex Coun-
ty Bank and the officers Of the Perth
Amboy Savings Institution are ident-
ical, the business of both banks being
transacted over the same counters.
Though it became necessary to call
for the aid of the police for the pur-
pose of maintaining order, U. B. Wat
son. the president of both banks, says
that the funds of the Perth Amboy
Savings Institution were not touched,
that the 100000 deposited to the ac-
count of the Savings Institution is alb
solutely safe and that no matter how
badly the Middlesex County Bank has
been wrecked the savings bank will be
able to meet all demands made upon it
by the depositors. These words of as
surance from the officers of the Saw
ings Institution had the effect OF check
ing the run on this bank during the
afternoon.
The notice posted on the door Of the
Middlesex County Bank early in the
morning was as follows:
Bank closed. In the hands of bank
ing department"
On Monday last Cashier George M.
Valentine evidently concluded that he
could no longer conceal the shortage
at the Middlesex County Bank. On
that morning ne telephoned President
Watson that he was detained, but he
said that he would appear at noon.
The bank had then opened for bust
ness and Mr.. Watson, who was taking
the absent cashiers place, discovered
that there should have been some
$1,000 in bills on hand to commence
operations that morning. These he
could not find in the vault. Mr.. Wat
son had been searching for it when
Valentine called up. He asked Valen-
tine where this money was and was
told it had been placed in the cashiers
private drawer Mr.. Watson remarked
that was no place for it, but rang off
on the telephone and went to get it. A
duplicate key to the drawer indicated
was obtained and the drawer opened
but no money could be found. Mr..
Robert n Valentine, the cashiers
father. was summoned and he aided in
the search for the missing money. It.
could not be found and finally the work
of checking was begun. Then 1t soon
became evident that during the last
few months the accounts of the bank
had been juggled. The other trustees
were summoned and the banking de-
partment was notified TO send an ex-
aminer Deputy Commissioner Of
Banking Johnson appeared in re-
Spouse.
On Wednesday Mrs. Valentine, wife
of the cashier, returned from Ocean
Grove and called at the bank and want
ed to know where her husband was.
This was the first intimation she had
that he was not on duty and showed
the officials that Valentine was not at
the sea shore as at first appeared.
On Monday the Park National. Of
New York, charged the Middlesex Bank
with checks to the amount OF four
IlO0Sdlu AO4AdlS nlAAA al EdA4 ~
have been drawn on it against the ac-
count of the Middlesex by Valentine.
A detailed investigation Of matters
by President Watson and Robert n.
Valentine showed that the cashiers
checks and stubs did not correspond;
that the checks called for more money
than the stubs recorded. and that while
taking the stub as the basis OF account
ing, the banks finances would figure
out all right, the checks would show
that the bank had oeen drawing heay
fly on it's New York correspondent.
the Park National Bank The cashier
in fact carried the accounts on the
stubs, and from them to the books
correctly, but when the returns from
the cashiers checks came he pocketed
the difference between the stub and the