The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-23
FIND YONKERS BANK
ROBBED OF $4,000
Trustees Discharge Charles p.
Marsdcn. Cashier, but Fail
to Prosecute.
SHORTAGE MADE GOOD
Irregularities in Mortgage Ac-
counts Discovered i'm En-
plOyee's Absence.

YoNKERs. y. V. Aug. 22.--lt became
known to-day that Charles Il. Marsden,
cashier and for twelve years an EN-
ployee of the Yonkers Savings Bank.
had been discharged upon the discovery
of irregularities in accounts amounting
to $4,000
Mnrsden's discharge has caused great
surprise in lcnkers. where he has
many friends and enjoyed an excellent
reputation. Although errors in the
mortgage account were discovered some
time ago Vt was not known until last
week that. so much money was involved.
Then Marsden confessed to the
banks trustees" said ex-Mayor James
II. Weller. president of the bank. THE
deficit has been made good by New
York bonding company and the bank is
not embarrassed in the slightest degree.
1t is not even known that Marsden will
be prosecuted. He is still in Yonkers."
The entirely unsuspected state of az
fairs was discovered three weeks ago,
while the cashier was on his vacation
\ client OF the bank. making a payment
on a mortgage. remarked that he had
paid $500 Dn 1t in May. The payment
had not been recorded. yet he had a
receipt Mirsden was telegraphed for
and returned. saying he had loft tho
$500 in a private drawer by mistake.
He repaid the money. but 1t was found
that he had drawn II from anolher
bank that morning.
Several meetings of the trustees took
place and finally Marsden confessed that
his peculations amounted to nearly slo,-
600 He was then notified that his SER
vices were no longer required. and the
bonding company made good the
amount some $1,000 less than its oh
legation. II was said Marsden's manipu-
lations Of the mortgage account had eX-
/ tended over a considerable time.
Neither Mr.. Weller nor Charles r.
| Hubert. treasurer and active man in
the banks affairs was able to discover
I any-irregularity In the cashiers life that
! would account for his conduct They
agree with other bank officials and Mars
| denis many friends that he was ap-
parently a man of exemplary life. de-
voted to his wife and two sons, Is and
! u years old respectively.
! II is through consideration for his
.
! fran from prosecuting the cashier,
There has been considerable discussion
among the trustees on this point, Mr..
I Hubert maintaining that the disgrace
! will he sufficient punishment, and that
! Marsden's house aud other property
probably will he forfeited. Meantime
/ Marsden goes about much as usual. He
! and his family were out for dinner
and the evening when a reporter for
THE Sun called at their attractive home
/ in Hawthorne avenue, near the banks
! OF the Hudson.
I Earlier in the day Marsden told in
! qurers that he had resigned his position
| voluntarily and had another in view. He
said there had been no friction over his
leaving the bank Through his member
! ship in the Palisades Yacht club and his
pleasing personality he has made many
friends in good circles in Yonkers. and
the news of his discharge has caused
much comment
The Yonkers Savings Bank is the
| largest in Westchester county. 1t was
chartered in 1854 and always has borne
an excellent reputation. According TO
the banks semi-annual statement on
July /, its deposits totalled ss,6s6,2lo,s4
Its assets were s9,594 079.6s mostly In
bonds and mortgages, and its surplus in
investment values was SyO7 ,S6S1i. The
| bank. Mr.. Hubert says, has now on
hand "A larger amount of cash than
usual because OF the unsettled interna-
tional situation.
The bank tomorrow morning will
issue a statement explaining its change
in cashiers, and announcing the name
of the new cashier. "A Yonkers man, VIII,
will assume his duties September /.