New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-24
100000 BANK THEFT
CONFESSED BY CASHIER
.h,am l.. Beavers Thereupon
tayes High Bridge, N. j..
Without Hindrance.
m THIS CITY. IS BELIEF
,..r,;sed to Return and Make
Observation-Disclosures Is
closed Temporarily, but
Deposits Are Safe.
p, Telegraph 10 The Tribune. !

Deposits Are SAFE.
~. Telegraph 10 The Tribune.l
pridse. y. j.. Jan. 2S.-After con-
h'e" res,erday to the vice-president Of
80 nigh Bridge National Bank that he
"a taken about 5000" OF its funds
IN I. Beavers, cashier of the bank
AVE- % his home at Glen Gardner and
wen hare took a train to New York
"O 70 attempt was made TO arrest
is II known where he is staying.
- !. thought the federal authorities will
"a aetectives TO take him into custody
f. the little village of Glen Gardner
A,r,e Abram Beavers was not re-
.dsd as a man Of eXtravagant habits.
So, rnovn that he owned a half in
=, in farm there and was the owner,
w., his wife. of a small cottage and lot
!. ,bs village. The cottage was given TO
w.. Beavers by her father At the time
:. h.r marriage, and there she. her hus-
"a and their son. Joseph. fifteen years
:. uvsd for the last few years. re-
s..c,.a bv their neighbors.
T,v Beavers was allowed TO escape.
nv M attempt was made TO keep him
-, surveillance. has not been an
.,o,cAd Yesterday morning, after the
= o,sred for the days business. Bea
.-s walked into the Office Of J. Henry
o., the vice-president. He seemed 20
!. laboring under great emotion. and
,r.uy stammered out that he had been
riappropriating the funds Of the bank
,o- several years.
po.. was thundeTstruCk. He had known
p.,vsrs since he first took office. The
,,sb,sr had been selected for his post
,,.r tho bank was founded. in 1900. ana
"a, one OF it's trusted employees. HOW
:, covered I'D his populations is not
,,oun but il must have been done SIKH
,rlv for twice within the last TWO
routb, Bank Examiner Fowler has gone
,ysr the books OF the institution.
Was Bonded for Only $4,000.
ps.v.rs seemed broken hearted after
Il. confession He told Rose he would
r-n over all his real and personal prop
.-tv 10 the bank This will amount 10
,hou, e 90 It is thought The cashier
,,s bonded. but only for $1,000 George
Cramer a director in the bank was
nth Rose a. the time Beavers maze MS
,on,,ssion. and on his advice meeting
u the directors was held last night IN
he meantime the doors of the INSTITUTION
were closed and this morning the foiio"-
irg notice was posted
nth. uenoeito-s and Patrons: ~ meeting
I'd ast nigh, by the board OF directors. y was
7,.n.d advlsabie in the interest OF the DC
,ostors. that this bank be closed temporary
Tho whole town was stunned when the
notice was posted Little groups gath
cred on the sidewalk and discussed the
sclion Of the defaulting cashier. rear
vas expressed by many that their entire
savings might be lost. TO get al rest all
nisgvings Mr. Rose issued a statement
his afternoon in which he said That
zone OF the depositors would lose a cent.
TIE double liability Of stockholders ana
the surplus. he said, would cover the de-
'sleation. The bank was the only IMAM
cal institution in the village. and was
vs,ronized by many farmers about the
COUNTRYSIDE. II has always been re-
garded as solid as rock, therefore the
shock to depositors has been the more
severe.
Cashier Feared Discovery.
Beavers is believed TO have been
actuated by fear in making his concession
IRE two visits o. the bank examiner re-
emily. II is thought. led him 10 believe
ina, his misdeeds would sooner or la'er
d discovered Immediately after making
lis confession ne left the bank and went
70 his home. where he babe his vile anu
son farewell and. it is believed, went d.
rsctly 10 New York City. No word mas
xen received from him since, but the
tank oficials DO not seem 10 be "orfEl"s
over his disappearance.
II was said to-day that before Beavers
eft the bank ne told the vice-presIoeh'
he was going 10 New York ana tha' "e
would surrender himself whenever he was
wanted. He Is said TO have given MS
word 10 do So and he was allowed 10
depart
Beavers Is said TO have lost the money
he took from the bank in speculation, out
nothing is known Of the stocks In when
No dealt nor how long he had been gam
oing with the funds Of the institution.
Following the meeting OF the directors
Nord was sent to Washington, advising
NE Controller Of the Currency OF the
shortage in the banks funds and asking
mat an examiner be sent 10 High Bricee
20 over the books. Percival Christie
Nes'dent OF the bank is in California
were ne went 10 improve his health.
ny. Rose is now In charge Of affairs.
Inc High Bridge National Bank was
osanized with capital stock OF So,GO.
us last statement showed deposits sub
ee' 10 check OF S3l3.327 %: surplus earned.
T'"; undivided profits. $l29 o..
UfFEW0C pOCThI ri EQkC