The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-03-21
SAY HE HIT SEVERAL BANKS.
GEORGE n. WHITE ARRESTED on
CHARGE OF EMBEZZLEMENT.

Several Banks Ten Years Age
Got $50 900 From Central National
and $50. 900 Frsm Other Banks.
PHILADELPHIA, Pa. March 70.-As a
sequel to the failure In December last OF
the South Pennsylvania National Bank
at Hyndman, Bradford county. George b.
White, vice-president OF the bank. was
arrested here to-day on the cs>rge Of en-
beszlement and making false reports to the
Comptroller OF the Currency. The arrest
was made on warrant obtained by Special
Bank Examiner Walter A. Mason. who acted
under instructions from Attorney General
Knox.
White was taken into custody at ois
Walnut street, where for two years he has
rented an Office, and after a preliminary
hearing before United States Commissioner
Craig was rcmanded In default OF 5000
bail pending further examination next
Wednesday.
Following the failure las. December
Mason was detailed to make an investigation
and subsequently was appointed receiver.
In telling Of his investigation Examiner
Mason said:
Instead Of the bank having a reported
surplus Of $4,000 discovered that there
was an actual deficit Of more than $4,000.
/ found the assets which had been carried
were no longer the property OF the bank,
but had been disposed OF and notes Of the
defunct Hazsn Tanning Company carried
As assets.
There was $4,000 worth Of the bonds
OF the Electric Light Plant Of Hyndman.
worth actually only 5000, but worst Of
all there was carried as an asset q note
for 5000 Of Mrs. 8. W. Tully Of Philadel-
phia, q sister OF George B. White, and dated
1900. Mrs. Tully have posNi|ely learned
died in 1893. This was manifestly forgery.
Il have paid the depositon In full. but
the stockholders won't get IS on their
shares, the par value Of which is 500
"In continuin my in vestigat ion decided
that Whites history might be worth looking
into, and found that he was q member Of
a remarkable family. Of which the bright
and shining light was his brother, John
White. now Fugitive from justice and
wanted for q good many crimes against
an 1889 John K. White went to Hyndman
and organised the bank, with capital
Of $50 600. OF the total Of 800 shares OF
stock, 800 were owned by the White family.
They selected their own board Of directors.
few Of whom were residents OF Hyndman.
John X. was at first the active spirit OF the
Hyndman institutions. He was high
| roller and spent money freely. At one
time Re took party to New York and spent
he organized the Hazen Tannery Com
pany, which was TO beat the United States
Leather Trust. He built an electrc-hght
plant for the town and also started news
paper and went into politics.
snd - IS aohemes vsnt up IN snnoke, He
could }rom hs friends. and has nsveT been
Then George B. came on the scene and
doing the grand In Hyndman, George had
besn working q scheme on Boston and
New York bankers. and did very well at II
for m Td He ~cs sns %SoS 81 S.d ths
capital OF tis 10000 George borrowed
$50 900 from the banks on this stock and
then went into BANKRUPTCY. HIS discharge
was bitterly contested by the Central
NUT National Bank Of Boston. and they kept
him In the courts for year~.
sThe defendant knew that the bank was
insolvent when he took charge OF II. and
we charge him with having entered into
q conspiracy and that he made the cashier.
Government, swear 10 false statements.
white, as soon a. he could work things
TO suit himself. took the 800 shares which
were In his control and came TO Phla-
delphi and S.ppt part r then Ss
went TO Pittsburg and did the same thing
with the MononGshela hank. borrowing
from these two Institutions between eie,-
600 and Oh 900 on worthless stock
An officer Of the Central National Bank
said Last night that White had not been
arressed si the request Of his hank. la
and several other banks In this city. Boston
and PhiladelphiA were swindled out 81
hetwe~n ois0is0 and 500 O0o. Tho Central
National BANK lost about o3oOoo. White
was arrested in Philadelphia ~ thar time,