The San Francisco call., 1899-07-15
ATTEMPTED TO
MOB THE BANK.
Riot Narrowly AVerted
in Perth AmbOy.
VALENTINE IN JAIL
RELATIVES MAY MAKE GOOD
THE MONEY STOLEN BY HIM.
Refuses to Tell What He Did With
the Coin-The Savings
Institution Is
Safe.
Special Dispatch to The Call.

NEW YORK, July 14,-George M.
Valentine. cashier of the Middlesex
County Bank OF Perth Amboy. N j.,
which was closed to-day, has surreh-
dered himself and now Is In Jail on ac-
count OF a shortage in the banks funds,
which has been variously estimated all
the way up to S165, 900. The affair
caused CONSERVATION and dlSmay
among the business men OF Perth AN
boy. where the Middlesex County BANK
was considered as strong as the eterhai
hills So panic-stricken dld the resi-
dents of Perth Amboy become when II
was learned that the Middlesex BANK
had failed to open for business as usuai
this morning that crowds surrounded
the Perth Amboy Savings institution.
What made the run on the savings
bank appear all the more serious was
the fact that the officers of the Middle
sex County Bank and the officers or the
Perth Amboy institution were 1dentl-
cal, the business of both banks being
transacted over the same counter.
Though it became necessary to call
for the aid of the police for the purpose
OF maintaining order, u. B. Watson,
the president of both banks, says the
funds OF the Perth Amboy Savings In
stitution were not touched; that $5OO,-
600 deposited to the account OF the
savings institution is absolutely safe,
and that no matter how badly the Mid
dlesex County Bank has been wrecked
the savings bank will be able to meet
all demands made upon it by the de-
positors.
on Monday last Cashier George M.
Valentine evidently concluded that ne
could no longer conceal the shortage OF
the MiddleSex County Bank. ON LEat
morning he telephoned President Wat
son that he was detained. but said that
he would appear at noon. The bank
had then opened for business and Mr..
Watson, who was taking the absent
cashiers place, discovered that there
should have been some $1,000 in
bills on hand with which to COM
mence operations that morning. These
he could not find In the vault Mr..
Watson was searching for them when
Valentine called him up. He asked
Valentine where this money was and
was told it had been placed in the cash
ier's private drawer. A duplicate key to
the drawer indicated was obtained and
the drawer opened, but no money could
be found.
Robert N. Valentine, the cashiers
brother, was summoned and he aided in
the search for the missing money. 1t
could not be found and finally the work
of checking was begun. Then 1t became
evident that during the last few months
the accounts Of the bank had been Jug
gled. The other trustees were summon
notified to send an examiner. Deputy
Commissioner of Banking johnson ap-
peared in response.
A detailed Investigation OF matters by
President Watson and Robert N. Val
entine 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 stubs as the basis of accounting
| the banks finances would figure out all
right Those checks would show that
the bank had been drawing heavily on
it's New York correspondent, the Park
! National.
Thursday night the determination to
close the bank was reached and Mr..
Watson notified Chief Of Police Burton
| cashier. Valentine, who had been In
New York City. returned to Perth Am
boy from Woodbridge, accompanied by
his counsel, Edward Savage OF Rah
way. He declined to so into the details
of the shortage of the bank, except
that he was very sorry that he got his
friends into trouble and that he felt
very badly about his wife and children.
President Watson is OF the opinion that
the cashiers defalcaton will amount
to at least s125000.
Where the money went to Is not
known, as tn cashier Is said to have
been moderate in his tastes and habits
of life. He was for years a clerk In
the Park National Bank OF New York
In 1893 he was made cashier OF the Mid
dlesex County Bank His bond was
| fixed for $4,000. His relatives are
wealthy and It is said they will en-
deavor to make good the shortage.
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