The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-07-21
THE MIDDLEsEx COUNTY BANK
solvent Institution ho,ned by the
Pscuiations Of - Dishonest Cashier
Discovery of the Shortage.

! sntine. cashier OF the MiddlcscN Coun-
ia bank of Perth Amboy. which was
/ closed Yesterday. has surrendered HIM
self, and is now in Jail on account OF
A shortage in the banks funds, which
has been variously estimated all the
way TO slG5,OOO. The affair caused
CONSERVATION and dismny among the
business men OF Perth Amboy, where
the MiddleseN County bank was con
sucred NJ strong as the eternal hills.
So panic-strickcn did the residents of
Perth Amboy become when il was
learned that the Middlesex County
bank had failed to open for business
as usual. yesterday 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 MiddleseN County bank
and the officers of the Perth Amboy
Savings institution are identical. the
business of both banks being trans
AAt'A bNtt tnt Ntliit NoAiiA'lN-
In Hands Of banking Department.
The notice posted on the door of the
MiddleseN Couny bank early in the
morning was as follows:
Bank closed. In hands of banking
department..
Booties- search for Missing Funds.
On Monday last Cashier George NJ.
Valentine evidently concluded that he
could no longer conceal the shortage
al the Mddlesex County bank. ON
that morning he telephoned President
Watson he was detained, but he said
he would appear at noon. The bank
had then opened for business. and
Mr.. Watson. who was taking the alb
sent cashiers place. discovered that
there Should have been some - 900 i'm
bills on hand To commence opera
tions that morning. These he could
not find in the vault. Mr.. Watson
had'been searching for il when Val
entine called up. lie asked Valentine
where this money was. and was told
II had been placed in the cashiers
private drawer. Mr.. Watson remarked
that was no place for il. but rang oil
on the telephone and went to get il.
\ duplicate key TO the drawer indi-
Gated Was obtained and the drawer
opened. but no money could be found.
The rhiers Father Summoned.
Mr.. Robert \. Valentine. the cash
ier's father. was summoned. and he
aided in Nhe search for the missing
money. II could not be found. aud
finally the work of checking was be-
gun. Then it soon became evident
that during the last few months the
accounts had been iuggled. The other
trustees We're summoned. and the
banking department was notified To
send an examiner. Deputy Commits
sioner Of Banking Johnson appeared in
response.
Mrs. Valentines Return.
On Wednesday Mr.. Valentine. the
wife Of the cashier. returned from
Ocean Grove. and called at the bank
and wanted 10 know where her huv-
band was. This was the first intima-
tion She had that he was not on duty.
and showed the officials that Valentine
was not at the sea shore a. at first sup
posed
On Monday the Park National OF
New York charged the Middlesex bank
with checks to the amount OF $4,000.
which are said 10 have drawn on il
against the account Of the Middlesex
b. Valentine.
How the Robbery was Effected.
detailed investigation Of matters
by President Watson and Robert \.
Valentine showed that the cashiers
checks and stubs did not correspond:
that the checks called for more than
the stubs recorded. and that while
taking the stub rs the basis OF ac-
counting. the banks finances would
figure out all right. the checks would
show that the bank had been drawing
heavily on It's New York correspon-
dent. 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 thu cashiers checks came he
pccketcd the difference between the
stub and the check. Four or five
months OF this method of financierin9
depleted the banks reserve moneys
and brought il TO the verge of ruin.
Returned and said De was Sorry.
Valentine. who had been in New
York city. returned 10 Perth Amboy
from Woodbridge. accompanied bv his
counsel Edward Savage. OF Railway.
lie declined 10 90 into details about
the shortage Of the bank. except to
say that he was very sorry that he
lad got his friends into trouble. and
that he felt very bad about his wife
tnd children.
President Watson is of the opinion
THAT the cashiers dcfalca,ion will
amount &c at least Si25,OoO. Where the
money Went 10 is not known. as the
cashier is said To have been moderate
IN his tastes asd habits Of life.
Cashier Valentine was for years
clerk in the Park national bank OF
New York. IN 1898 he was made
cashier of the Middlesex County bank.
Ills bono was fixed for $4,000. His