Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-01-25
Beavers Fails to Sur
render as He
Promised.
U. S. COMMISSIONER AND
MARSHAL WAIT IN VAIN
Downfall of High Bridge First
Nationals Officer Caused BY
Huge Mining Speculation.

Despite his promise TO surrender.
Abraham L. Beavers. the missing
cashier of the First National Bank.
of High Bridge, n. J.. whose peen-
lations may be found to have reached
total Of s1,0o0.Ooo, did not give him.
self up to United States Marshal
Beekman, OF this city, today.
The quiet, church going, phiian-
thropic bank official, who. according
TO his own confession. has been gam
bling huge sums of stolen money, Is
still enjoying his freedom.
Through his counsel. former Cow
ernor Foster NJ. Voorhees,, he made
arrangements, it is said. TO give HIM
self UP today to United States COM
missioner Richard Stockton In the
Prudential building.
Commissioner Loses Patience.
Not only did he fail to appear, but
Commissioner Stockton, after waiting
for a time. closed his Office and left
note that he would not return until
Tuesday. He did not say where he
was going.
Marshal Beekman appeared at Il
o'clock, but he had not seen any
thing of Beavers.
The only reason the hunted CASH
ier is said TO have given for his
promised voluntary surrender was the
fact THAI Beekman. armed with
warrant. was 50 close on his trail
that further flight was futile
United States District Attorney
Vreeland is directing the prosecution
Of Beavers. The Federal grand jury
will be asked to find an Indictment
against the cashier as soon as Bank
Examiner Alvin L. Fowler finishes
his investigation of the books OF the
closed institution.
Il understood that Beavers would
surrender said Mr.. yreeland tedaEs
but am not certain that he was 70
sidssso jn1mediately."
Although Beavers. according to the
bank officials. confessed to having
stolen sS2,0 ,00e. it is now thought that
81 100000 would be a better approxi-
nation. His operations are being in
vestigated to determine rhat he ac-
utally paid out in cash and what he
owes. From several reliable sources
it is limited that in December alons
his Indebtedness to brokers amounted
to $500. 900
The amount Of shortage in the bank
cannot be determined definitely as
yet. Alvin L. Fowler. national bank
examiner. is now going over the books
and securities. Beavers has assured
them, several of the officials state.
that he did not take more than ss2.-
900 Mr.. Fowler has been in COM
munication with John B yreelana.
United States district attorney at
NIorristown, supposedly over the
prosecution of the cashier.
That Beavers's operations we're ex-
ment that he has deposited the fol-
lowing securities:
Bonds to the amount of $4,000 each
OF the following: Brooklyn Rapid
Transit. Erie railroad. Atchiscn. To-
peka and Santa Fe. St. Louis AMI
San Francisco, Missouri Pacific and
Chicago. Milwaukee and ST. Paul:
also the following stocks Consoii-
dated Gas. 1000 shares: Beet Sugar.
600 shares: Baltimore and Ohio
900 shares: New York Central. 500
shares.
Loses in Diamond Wine.
diamond mine in South America
led Beavers to his troubles. FL lost
between $1,000 and SO .00a in a venture
there. and. according to the story tbs
bank officials said he told them. oe-
gan specnlating in the hope Of re-
covering the loss He took a plunge
in American Beet Sugar, which
dropped from - to 80 IIe plunged
again. hoping to recover this loss, bur
mi fortune always pursued him.
Beavers was virtually In control Of
the hank. because of the absence Of
the president. Percival Chrystie, niao
was in California for his health. and
Percival w. Moore. the assistant
cashier. who was IN from grip.
George H. Cramer. director Of the
hank. declares the bank will take
steps to recover the securities Bea-
vers declares he hypothecated With
c. j. Hudson & Co, of No. IS Walt
street, members of the New York
stock Exchange. Charles l. Hudson.
Of the firm. in explaining its tram
sactions with Beavers, said:
"A. L. Beavers opened an account
with our firm several years ago. prior
10 the organization of the First Nat
1onai Bank. Of High Bridge. He was
one Of the most highly respected men
in Glen Gardner. n. J He was one
Of the movers in establishing the
tuberculosis sanitsrium, a man prom
inent in church work and Of ire
proachable habits,
I'VE purchased on his order various
bonds in the months Of October and
November on the New York Stock
Exchange. on which we received tho
customary margin. No bonds were
received from him. so no money could
have been advanced on any bonds
except on the actual purchases made.
1--WE have violated no law Of the
New York stock Exchange. The law
in question does not permit dealings
for clerks OF banks or for employees
Of fellow members. Mr.. Beavers Was
an officer of a hank and dealings are
permitted for officers OF Institutions
s'An transactions and checks re-
ceived were personal. We received nc
bank checks or cashiers checks and
at no time did Mr.. Beavers act for
other than his personal account.
Neither did he ever submit any lasil-
lers checks OF other eheeke than h'e