New-York tribune., 1899-12-21
VALENTINES FREE HAM
TESTIMONY DIsCLosEs THAT THEs,
WAS PRACTICALLY NO CHEcr
UPON THE CASHIER

Edward s. Campbell receiver Of ths
Middlesex County Bank, OF Perth Amboy ,..u1 Ase
taking testimony at Newark yesterday IN r.-
to the claims Of creditors to be consider.d ~0 '1
ferred. inasmuch their deposits in n. ", sss'
just prior to the suspension were accented .ak
bank officials with the knowledge that tha y ue
insolvert The claims aggregate S0 m "ak
Watson F. Van Camp bank examiner, tesus..
son on July 13. addressed to Deputy BANKING can crn
missioner Johnson The witness corro6ossaa. a
Deputy Johnson's testimony In regard 10 ~ 20
yestigation and L. the discovery that instead ~.
balance Of $4,000 In the Park National BanT
SewiYork there was s -, an 2yerdratt Of Mx
he had missed 1900 from the vaults ana s.,
asked Cashier Valentine over the telephone wts 49,
placed 1t for greater safety IN his private drave e
Watson remarked that he did not like to SSrG Sr.st
was all right. Witness had examined the hsnss
four different years, and never suspected H.,
Receiver Campbell asked the witness II the .ho..
nge could have been ascertained II the bank an
GERS had examined the books and taken the ss;s' st
III that is a fact" asked Mr.. Campbell why Ala
not the examination by the States officials dscosss Ss
The examiner said the examination did no, 10
far enough.
testified last week. said he had gone 10 the hSrS
10 make deposit on July Il and had conndencs
son told him that Valentine had not been Al ~
bank since Saturday. Watson requested him h .m ~
to the Park Bank IN New-York and draw the en-. n
learned that there was really shortage Of totGS
He advised Mr.. Watson OF the fact over the tsls
officers for him to come to New-York at once lax
Questions asked Mr.: Convery were objected oby
ne knew about Valentines dredging enterprise
He replied that he had no official knowledge az
Valentines outside transactions.
T. Lawrence kearny. the secretary OF the bast
testified to the announcement by the president "a
the Board Of Directors on July II Of VaentinessS.
President Watson was then placed on the rspa
and said that during Valentines absence he had
$4,000 and found It was 1890 short That msSs
him telephone to Valentine. The Incident made no
wrongdoing. He acknowledged that in all his en-
rience In the bank such a thing had not happened
before. He had no suspicion q Valentine becaus.
morning Valentines wife called at the bank 70
inquire about him. On Wednesday afternoon hs
opened Valentines private drawer and found TAI
the 1900 which Valentine nad telephoned was n
the drawer was. not there. He thought this va.
write to the State Banking Department for an IN
vestigation. Mr.. Watson admitted that II was Dos
sible that ne had communicated TO the Board Of
Directors the fact that the 1880 was not IN the
regular money drawer. The witness had known
that Valentine was connecte1 W wi,h some outside
When asked whether the communication BY the
State Banking Department year ago in regard to
witness answered NO and he said he SS not
investigate at the time. All letters to the bank
In regard to the s22ooo Of Chesapeake and Ohio
bonds which Valentine gave 70 the bank as COL
lateral for a loan OF 1900 to himself Mr. Watson
said he wassinformed in 1897 by the State Banking
Department that these bonds were not In the banks
keeping but were in the possession OF Henry {.
Chapman, OF No. 73 Broadway. He did not know
where and how the Department got this informa-
ton Chapman had the bonds for several years. He
knew in 1875 that he held the bonds. and he never
made an effort TO get them back.
Mr.. Watson said he never communicated With the
Park Bank 70 whether the balance was all
right All checks on the Park Bank By Valentine
were examined by the banks clerks only as to their
signatures and not as TO the amounts. Valentine
had given this order. The witness did not know IN
December 1885 and January. l@e that Valentine
was behind in his personal account with the bank
The hearing was adjourned 10 next Wednesday,