The evening times., 1900-07-13
ARREST OF A BANK OFFICER.
Newark Treasurer Had Been Mis-
nppFoprintinE Funds for Ycnrs.


nDproprintinE Funds for Ycnrs.
NEWARK, y. j.. July 13.-After twenty
nine years OF service as a trusted am
ploye, Charles r. WesterveIt. Secretary
and Treasurer Of the Dime Savings Insti-
tuition OF Newark mas been arrested for
embezzling funds Of the bank and faIsi-
flying its accounts. To the directors he ad-
mitted that he had for long time been
appropriating money that did not belong
TO him. but he would not say Just how
much he had taken. According to the
banks officials defaIcations thus far dis
covered amount to between s3S 000 and
$40. coo The examination of the tangled
accounts is not complete, and II is expected
the total deficit will reach a much larger
sum.
Westervelt is alleged to have hobbed the
bank by falsifying vouchers. and is said to
have speculated in stocks and to have lost
thousands OF dollars in Wall Street His
system. according to the bank officials.
was 10 raise on his vouchers the amounts
Of Withdrawals by depositors A specific
instance noted in the charge against him
vas the falsifying of a voucher on a with
drawal check for $500. 10 the order Of Pau
line Rube. His voucher made il appear
that she had withdrawn $500. The 81. 600
difference he is allege! TO have pocketed
Many cases OF the same nature have come
10 light in the examination Of the books
For two years or more the bank off,
cialS say. WesterVeit has operated in this
way, but suspicion was not aroused until
last week, when discrepancies were discov-
cred. and the president Of the bank. James
D. Orton, notified the State Board Of Bank
ing and Insurance Last Monday Martin b
Dagger. of Asbury Park State Bank Ex-
aminer, began work on the books He ran
across a discrepancy and asked Wester-
welt about Il
Well well" said Westervelt. Il guess
We had better ask Mr. Orton about il.
Mr.. Orton is also President Of the Sec
ond National Bank just across the street.
and when Westervelt took his hat and
went out, MIR. Dagger supposed he was go
ing TO the presidents Office there When.
however. the secretary and treasurer fail
cd 10 return suspicion WAS aroused fur
ther discrepancies we're found in his ac-
counts. and detectives were sent out to
locate him. They went TO his house at
NO Az Clinton Avenue. but found nobody
there. For three days they hunted in vain.
Late yesterday afternoon Detective
Francis j. Gregory learned that a rig for
NtSterNeit mad been ordered at : local
livery stable. Hurrying tc the place he
found the rig just leaving and followed II.
II stopped in front Of a house in LYONS
Farms. the residence Of an intimate friend
OF the man for whom the detective was
searching Shadow'ng the house for A time.
Gregory saw little boy come out. rs
Mr. Nestervelt in?' the detective asked
l don't know" replied the urchin. "Fll
see"
Gregory followed the lad into the bouse
and found several men and women sitting
at the dinner table. He did not know anv
OF them, but ii took only glance to show
which was the man he sought.
At the sight of the detective WesterveIt
turned pale as n sheet and almost coll
lapsed. He was taken before Justice Hav
ward. Of East Orange, and jailed on a com
plant made BY Mr.. Dagger. The prisoner Is
hIjy-two years old. He is a man of quiet
habits and has been regarded as model
citizen. His family consists Of a wife son
an4 three adopted daughters. According
TO the bank officials. the amount of his
bond covers his shortage
The bank is absolutely secure" saws
President 0rton.i .'WesterveIt's operations
VIII not affect its condition or credit in
the least" "