New-York tribune., 1911-12-02
STATE SAVINGS BANK SHUT
Van TuyI Not Sure How Much
Pucci Got-SurpIuS Was S6,S34.
TRUSTEES TO MEET TO-DAY
One Says Depositors Will Get
Money in Full, and Bank May
Be Started Again.

The State Savings Bank. whose teller
John Pucci. was arrested in his cage
wednesday afternoon. IS now I'm the hahus
~ the state Banking Department because
~ PuccTs alleged irregularities. supSrln-
,o-dent Van Tuyl can't tell vet how great
,re shortage IS. but he shut the bank yes'ei
aae because he was afraid that when All
.,o denositors' passbooks had been collected
"a cor,rarison had been made with the
,,+-,az On the ledger II would be found
that the surplus OF @,S3i had been "ipeo
our. -,.,us
THE hank IS a small institution at lmru
,,.o,,o and 1o6th street, doing business
-,ostlv with the italians and Hebrews IN
g., ,airbborhood It's books show l2o7 sepa-
- accounts. and according 70 its semi
annual report TO the state Banking De
,s-,rent its resources were Slol'i OF
which Sl5.754 was due depositors
-rba shortage was discovered in the course
oso regular examination conducted by the
Go RANKING Department Pucci. who
las been with the bank since It opened IN
,aas is accused specifically Of having
yorged tvo deposit slips, entering on the
rauk.s ledger I'm each instance a much
-assbook and pocketing the difference. \
small salary and extravagant tastes are
assigned as the cause.
rIurIburt T. f. Beardsley, trustee OF
the savings bank and son Of Charles >.
psardslev. the president. said yesterday
chat his father had called a meeting or the
.-rs-ees for to-day at noon. Puccis arrest
and the closing Of the bank have come as
d great shock 70 the officers and trustees,
no ea,d. since they supposed Pucci had as
7-aa+ a pride IN the growth and success OF
.ba little bank as they did he came TO
them from another bank highly recon-
--erded. NJ. Beardslev said, and had al
vavs appeared industrious, efficient and
r-,,eaL PUGET IS about thirty-hve years old.
When arrested. he said he was the son Of
Admiral Pucci, OF the Italian navy.
so far" said Mr.. Beardsley. 1t looks
as n he had taken about S2."o but we
can't know definitely until all the pass
books are in Unless the amount IS much
larger than supposed 7 expect the trustees
fo get together. mako good the shortage
and start tho bank again. I'm any case the
dcroSitors are practically assured OF get
-.7- 100 cents on the dollar FOR the invest
rrents are sound and in strict accordance
with the stare law
David & Mills. former president Of the
Audubon National Bank, who was arrested
last Ju1v. charged with the misspplication
~ frat banks money. was a trustee Of the
STATE Savings Bank up 90 tho time Of his
arrest. but was then forced 10 resign.
Both Mr.. Beardslcy and Horace 5. Gould.
another trustee. said that Mr.. Mills had
never taken an active part in the manage
-0ent Of the savings bank. had never been
am officer and had never had anything 10
10 with the investment Of its money.
Between l5 and % per cent Of the bank s.
money is invested IN municipal bonds.
said Mr. Beardsley. About 10 per cent is
cash and the rest is in first mortgages.
Pucci. on rearraig ignment yesterday after
noon before Magistrate Freschi I'm the
Harlem police court. was held i'm 5000 bail
f-r examination on Tuesday. Gerard J..
.uoco appeared for the prisoner. Magis-
t-ata Freschi. who has known the lawyer
for a long time. decided on this account
that another magistrate had better hear
fha evidence
The hank teller lived at No. $50 West
oH street where he paid st. 4oo year for
an apartment. according 20 ueighnors, al
though his salary amounted to only $500.
While Roger r. Ksvanagh. the State Bank
iu- examiner was conducting the eNamind-
zion Ut tine bank. the state BANKING De
psrtmeTt received am anonymous and
illiterate letter. saying that Pucci was Hv-
ing AT the rate of $40 and $50 "A week, al
though he received wages OF only 50.