The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-15

day. instead OF going TO MS summer nome
money from tho Midlcsex bank for some tmo
and had used u to speculate with In Wall street
and had concluded to make the only rcpnrntion
he could to give himself IN, Whom Mr.. Noor;
complaint and Justice Martin held tho volnn-
tary prisoner without bail on charge Of ch-
A short time afterward Valentine. was taken
to the county Ial by C9nstaGlcs Holman an ni
shSrili that he lid not care to be interviewcd
Tari NJ. savage d W,oodIr;,dEes Later II !, The he
called at TIC iMii snG naH t se ,a Win tho
IT, Valentine succeeded III making star. rcpu-
tation. tor himself as an Cmbrzzlcr: He was
the bank o .Aaminets t?Id e STN scp9r,,Gr
Jan. /. aud that most OF ;hc money had
been taken within the past two months.
been s tnken nS at S onS time "," was sio vacn
tines method was simple one and might he
the cashiei u any country ,bnnE having ny
corlesp9ndcnt. This was how he ola II He
was ia. the credit OF his bank with The National
Park banf knowme MS NJ p s,wf },, Grew tN
the amount he needed TO speculate With 5000.
81 600 or $1,000. according To the need.
Th"G Instead OF Gnterng on The he St H. G' ,n2
been drawn, he, would enter 4 much smaller
amount. 500, 500. or SoN. Inc stubs OF the
checks we're what the hookkcepeis saw. and it
was from them that the entries in the books OF
the bank were made. No one knew that the
checks called tos q larger sun except NaIon-
Valentine ran the check book and be would
would charge up tho returns himself 70 CORE
spond with the original charges This was
be for the cashier Of any country bank, since OF
these banks The chshierS arc usually the man
nlUit ION most pf the work uSuny done ly hA
Presidents OF city banks. ,,.,,,
County Bank and the savings bank. The Two
banks were closely allied most OF the dirrc-
t9rS in one bank icing directors IN the other,
he ran 10th ESSHks about as he, Ikea,
BY tho dirccrHs " u tho Sre@kgi Gans IS
the onty Of The Np'}n.. p,rk BHPk
One OF tho directors said yesterday TINT he
didn't know much about me!!roroltan banking
was large ovcrdraft for one bank to allow an
other. he Sai1l that had TIE National fark
Retaliation might hayo been discovered long
ago and t,woqld not have been so largo as 1t
Yesterday morning the National Park Bank
secured an attachment against tho Middescx
County Bank for $?l.59S, to satisfy the claim
asserted that the Mlddlesex Eank. since
Jan !, had drawn checks to tho amount
credit, in the National Park bank. and That.
warded checks for collection to the Mddescx
Bank to the amount OF Sl.3u3, no part u which
PAX BanE 6baS m %r hs
Court under the attachment to break open
n i @d4 Ysonn p'P Park n 2v Tsa. box
examins and attach any securities found
there; The hox was opened, and in it was found
$4,000 worth OF Chesapeake and Ohio Rail
road "a per cent. bonds and lot Of mining
stocks. the latter said to be OF doubtful value
bn Nal Ina Of ho ,uH hcp Ia, wi,
aaStei yesterday, Would Be $5.735. VIC '''''
The MdLlesex County Bank j. is, a State bank,
toch is So. 100 and It's surplus 200 The
Ulcers OF the bank are: Iresidenr. l. Burgo
rashjer lieorge NJ Valentine; Directors.
lanes +. Watson. Z, b. Watson, +. r. Pierce.
amd BF e. W.Sn fhd as m al
ltatement showed its RESOURCES to be;
dra, oa an s aga oyer
eoi o e1nk po t9 $90Spo Shsr real
$l2,225; due from banks and bankers. SlO1-
s s9d Go Tnisea Stat S"rreEey $3
SG30.35s47. Tie Liabilities were; Capital
saH% P' "npad iglo1ds sao9 4 G1fSFi
va deposits. $50. 5l33o: demssIpd certificates.
Rf tSpa 81 s si2 a. o'"''''''''"s $1,000
According to the banking law Of New Jers"y
STOCKHOLDERS OF n stat" bank arc liable. in case
OF failure OF the bank. for double the amount
OF their holdings A. Vai"HtH"s defaISati"n
and available securities have been wiped out.
II The amount stolen doesn't nroye 70 be groq,.
than $4,000. the AMOUNT Of asfessnent to
depositors will lose nothing. II the de.
posLts have bsen mpaLred to a greater
positors viii depend somewhat on u t
value, and availability of the securities
terday, that many Of tho stockholders viii be
severely crippled II they have TO put W the full
liable. The hank has regularly raid an ms per- per
cent. dividend, and n semi-aunual dividend OF
Gsq Was ESi n 5G the assex
B .,5 ana Treasurer OF the savings bank since
cashier in Nav Jersey He was born in WOOD
bridge, where his father owns large clay banks.
from WHICH, IN connection with they mans
manufactures tirebrick. Young Valentine was
educated At Rutgers College and at ptrkard's
business education was compietsd he became
clerk in the National Park Bank. He was
des"x County BsnE. in I'VE ssE H tn the 't Na
tional Park Bank to recomImend man for
w6o had a.o Sssn
clerk in the National Park Bank. Young Val
entGe was rGcommendeid and was accepted as
SAVINGS bank. As cashier he received a salary
Fl ss0G year na as sd re ELICIT s?
sSn "one nG s5 g.; SansRs Tss snT H.
boy, Besides. he was made receiver for large
clothing house in Perth tmboy about year
about 81 900, with no lmmediarc prospect OF
the receiyership Dominating lie was Treaspr
Treasurer OF the Ramsay Dry Dock and Dredg-
ing Conpa1y - p,
m s9ay MIS- hs THn 9 p Ans he
Charles Ann"ss ot Woodbridge. They have