New-York tribune., 1899-07-15

County Bank to the amount Of 81 ,303, no part
Of which has been paid. Louis F.. Doyle, a.toI
ney for The Park Bank. also obtained an oscss
of court permitting the Sheriff to break INTO
the safe deposit box Of tho MiddIesex County
Bank In the safe deposit vaults OF tne rsrk
Bank where. II was stated. the MidoIesex
County Bank had lot OF securities deposited.
Armed with the warrant and order. the Sheriff 9
officials. with the aid of locksmith. opened tne
box and found $4,000 Chesapeake ana OnIo
Railroad IN per cent bonds, ana d io' ol mn, mm
Ing stock. the latter SAID 10 DC ol uo"o'iu'
value
PARK BANK AMPLY SECURED
George s. Hckock cashier Of the National
Park Bank, was seen last night at his home
No 1852 ST. Nlcholas-av He declined to dis
cuss the defalcation. but asserted that the Park
Bank was amply secured against It's loss
through Valentine to nearly the entire extent
Of the $3l 900. More than this Mr. H'ckock
would not say. -
George NJ Valentine ia the son OF Robert ~
Valentine, Of Woodbridge, q small town ABOUT
four miles from Perth Amboy, who Is memOer
or the firm OF NJ. d. Valentine Co., manufact-
urers of clay and fire brick and tiles with
large factory at Woodbridge. He is thirty-three
years old and was born, raised and educated In
Woodbridge. 1t was at first intended that ne
should learn the brick business and become
member Of the firm. but as he early developed -
fancy for figures and proved himself unusually
bright in that line he decided 10 enter the bank
ing business. His father secured for him place
as clerk In the National Park Bank, and there
he learned the ins and outs OF the banking ousi-
ness He became an expert accountant and COM
petent bank clerk. He stayed with the Nationai
Park Bank until 1893. when an offer was made
to him by the directors OF the Middesex Bank
Valentine secured his place through the In
huence Of his family. He was interested IN
several building and loan associations ana ne
was the assignee Of Louis Briggs, large manu-
featuring tailor He was under total OF near
ly $4,000 bonds. IL Is believed that his pecu-
lations were confined to the funds of the bank
A few months ago c. VI. Valentine CO..
failed That firm had contract wor1h n,esS nearty
Me- Its dredges and other property were soid
at marshals sale.
BANK MAY NOT RESUME
II Is feared the bank can never resume busi-
ness although the promise is made by the
officers that all depostors will be paid in full
II Valentines shortage is not made good. the
city of Perth Amboy will lose more than $50
900. There are a lot Of depositors whose losses
will vary from $4,000 to $4,000.
Valentines relatives are wealthy. and 1t is
said they will endeavor TO make good the short
age. Mrs. Valentine and her children have re-
turned to the home Of her husbands father at
Woodbridge She is said to be completely
Frustrated.
.. NEWS MADE EX-MAYOR FAINT
When the news Of the defalcation told
to ex-Mayor f. r. Pierce of Perth Amboy. he
tainted and has since been under the care Of
physician Mr. Pierce is a director in the bank
and the savings institution, holding heavily the
stock Of both and the real estate firm of which
he is a member had $4,000 in the bank
The MddeseX County Bank was operated
under State charter. 1t was organized March
II, 1872. with a capital of %3J,0OO. The bank Is
the only one in Perth Amboy. and nearly every
business man banked there. The capital stock
is $4,000. and the surplus 100000. dividend
of ! per cent was paid on July |. The bank
has been paying per cent annually for several
years. and it's stock sold in the neighborhood
OF 5000 a share.