New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-21
RAISING STOCK CHARGED.
Er-Cashicr of Bank in Examiners
Hands a Prisoner.

Following closely on the appointment Of a re-
ceiver for the Equitable National Bank comes the
charge by Assistant District Attorney Krotel that
n portion OF the stock ~ the bank has been sys-
tomat!cally raised by Charles r. Breach while he
cashier.
Breach was arrested yesterday by Detective
Flood IN the District Attorneys Cf7ce. charged
with grand larceny and forgery. Assistant District
Attorney KroteI says that Breach. who en-
ployed by the bank while Charles A. Nones was
president owned ten shares % the stock. made
out IN certificates OK share each. and that early
in January Breach called on Harry G. Mott. presi-
dent OF the National Bank OF Northport. LonE
Island and offered him a certificate calling for
ninety shares Of stock Of the Equitable National
Bank alleged to be worth 5000 or 500 a share
Mr. Mott Il is said. advanced 5000 10 Breach on
the certificate Later il IS alleged. the certificate
was found 20 have been raised from one share 20
ninety When this vas discovered Brooch went
20 Motifs book publishing establishment at No 20
WiIliam-st. IL is alleged. and said he tnuoght M
%ones would make everything right. Mr. Nones
called IN Mr. KruteI when he knew Of the Incl
5ept and said he knew OF the shares which
Breach owned, but did not know how extensively
the, had been raised. III denied that he had any
TToac5 il il said called Mr.. Nones to furnish
bail for him. and when II was not torthco nlng TIE
ton Tie viii be arraigned to-day. probably in the
'cobfers1cc with Edward RidFeiy receiver or
tho EQUITABLE National Rank, al No. % Nass1u-st..
NJ kToi {be s aa6 ne Of Broac and alleged to have
beor raised had been found. The original share
hooks or the bank show that Breach was the
owner of only ten shares.
Troscb admitted 10 Mr.. Erotel. Il IL alleged.
maj n raised tho certificates 20 cover speculation
in wall street but said he could make good Mr..
Nctt'e loss. -,
s+ioDai Rank Of Lakewood. and when Charles
EoTss bought an interest In the Equitable Ma
fio-aI Rank he took Broach with him a
15entioI man and made him cashier Breach
e,1cceeded last August by Owen 7. Reeves. for
T1cr.v a United States bank examiner. who was
~. II nv the interests represented b. the new
lvesident' Charles r Schultz
me bank was closed week ago last Wednes-
dav fr- the Controller Of the Currency. and Bark
T-var1iner Edward Ridsley. or application OF the
Efrscfors The cause Of the closing was said to be
lie I7fudicious loa ming of money by the old msn-
srsr7en+ President Schultz said there was enough
~sSe-ve on hand to pay all depOsttors In full how
eIsr and that suits had been begun TO collect the
money out on insecure paper. The rn2naE ement
asSa-+s that this move means merely beginning
r~ssh and says the institution VIII soon be able
70 yev DAYS ago Mr.. Mott sent letter 70 Re
-si,-ar Pfdrlev saving that he held ninety shares
~ are hanks stock. on which he had lent 5000
20 Proach and desired TO have his assets
corded. - r,, ,,, -, .,
vrffa and two children AZ No 100 I'5-ksst, Orange
IL t5sn left there with his family. Ms. Breach
and her criISran went 10 Mrs. y. T. Brown. her
sister at Madison Breach was supposed to have
gone to Jamaica. Long Island