The sun., 1903-05-01
DEATH LAID BARE His THEFT.
WALTER GOULD OF NEWARK
FOUND TO BE A DEFAULTER.

Deficits Amounting to SlS, 900 or Moro
in His Accounts With Three Building
and Loan sOcIatlons-Nhat Did
He Do With lt7 Everybody Asks.
1t was made public yesterday that the
affairs Of the late Walter Gould Of Newark
were In bad shape. although 1t had been
steadfastly denied until then that there was
anything wrong. and efforts were made by
his friends and former associates to silence
disquieting rumors.
Gould, who was 9s years old, was head
bookkeeper in the North Ward National
Bank. one OF Newark's stAncheet institu-
tons. He was also treasurer Of three old
and prominent building and loan associa-
tions-the Howard, Columbia and North
western 1t is said, too, that he was moro
or less active as a partner In . produce
commission business, Of which his standing
in the bank was sufficient to make him .
valuable member for purposes OF ref
erence.
Gould was looked upon a. . model Of
probty, and 30 much confidence was placed
in him by his associates. that nothing but
sincere regrets were expressed for a week
or more after his death, on April 10. There
was not breath Of suspicion against him
until Thomas A. GALLAGHER, secretary of
the Howard Building and Loan Associa-
ton, took the associations bank book to
the bank to have it balanced. Gould had
previously taken care of such matters.
1t was then found that Gould had used
two bank books, writing in the entries
himself for the one which made the build
ing and loan accounts appear to balance
and keeping the book of true record at
home. 1t is said that there is difference
of 1000 between the books and that it
will probably be found still greater when
the examination Of Gould's accounts is
completed.
The bank officials say that the bank Is
not affected by Gould's peculations and
that his accounts with that institution are
all straight.
The Columbia Building and Loan Asso-
citation finds his accounts about $500
short, and the delinquency in the North
western is stated as 81, 800. In each in
stance Gould was bonded by a guarantee
company for 5000.
The defalcation in the Howard began in
August last. and in the others the accounts
were straight until within a month Of his
death, His books as treasurer Of three
associations are in the possession OF Mrs.
Gould, who will not give them up until an
administrator Is appointed.
The defalcations do not impair the standing
of any of the three associations, as they are
all prosperous and would gain by any with
drawals made at this time OF the year with
out interest having to be paid, In the
Howard there are many wealthy members.
who have pledged themselves to meet any
demands II a run should be caused by the
publication OF Gould's defalcation.
One OF the directors said yesterday:
"We banked upon Walter Gould because he
had no vices and was econ omical to the
point OF penuriousness. Moreover, he was
one Of the hardest workers We ever knew.
Ke worked day and night. and 1t impressed
us as a marvel ht Y he managed to handle 30
much business.
sSome time ago he left the bank to devote
his attention to the produce commission
business. and 1t was said that the directors
told him that he must do one thing or the
other. They called him back to his old
post, however, and permitted him to retain
his interest In the outside business.
we cannot understand how he went wrong
unless he suddenly began speculating.
| stock, 1t was said, and two pieces OF real
estate. which, II sold. would more than make
up his deficits.
President Joseph Hart OF the Howard
Building and Loan Association said yester-
| day that suit would be begun against Gould's
| estate as soon as an administrator was ap-
| pointed. He felt sure that the full amount
Mrs. Gould has In her possession large
number Of small checks and some cash
recently paid to her husband by the mem
bers OF the several associations. These
she will turn over to the administrator