New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-07-30
Hatch, Who Shifted Or
ange Fund to Own Ac-
count, Has Relapse.
GUARD IN HOME
FEARS TO MOVE HIM
Townspeople Ask Clemency TOR
Clerk, Believing He Was
Misled by His Superior.

Edwin NJ. Hatch, who confessed 70 IN
ducing the youthful treasurer OF the
Mutual Trust Company, OF Orange, N.
j.. of which he Is vice-president TO
multiply by ten the amount on de-
post to Hatch's credit in his certifi-
Gates Of deposit, is dying in his home
at Maplewood, near Orange. His chill
drcn were sent for yesterday. Stand
ing guard over the dying banker Is a
detective from the Essex County Prose
cutor's Office,
Although until yesterday rumors
were current that Hatch's illness was
assumed. he suffered a relapse during
the night, from which physicians be-
lievo he may never rally. 1t was in
Difference to the rumors that he was
placed under arrest and guard sta
toned in his home. II was said last
night that it would be fatal TO attempt
to move him. He was taken from the
Orange County Hospital to his home
Mcrday after an operation for appen-
dicitis. The events Of the last week
are held accountable for his condition.
Thomas 6. Byrne, the young man who
was induced by his superior TO certify
that Hatch had $4,000 on deposit in
stead Of $4,000, is working day and
night at the bank aiding the experts OF
the State Banking and Insurance Com
missioner in going over the books. lie
is under $4,000 bail.
Creditors May Be Paid.
It is generally believed in Orange
that Byrne was persuaded that he was
taking the only possible step to save
the institution when he followed
Hatch's directions. Officers Of the bank
declare that creditors will be paid 100
cents on the dollar.
The townspeople, among whom Byrne
grew up, have started petition Tor
clemency for him. They are convinced
that he was misled. He is the son OF
Thomas Byrne, a retired policeman, OF
Orange. He started in the bank as
clerk. All of his savings and those OF
his father are in the bank. Young
Byrne succeeded in making a living
all Of the salary the bank paid him in
a fund with which he intended to build
a house.
Whether the 10000 that Hatch sue
ceeded in having alphabetically added
TO his own deposits will cover the full
extent of the banks losses has not yet
been determined. There are many
rumors that the total will be far in ex-
cess of this and that there was some
foundation for Byrne's belief that his
move was the only one that could save
the bank.
New Bank Is Rumor.
The depositors have been assured
that the directors and the State Bank
ing and Insurance Department will
fight the claims of the New York banks
for money paid out on the certifca-
tions. The examiners may continue
their work all day to-day.
Representatives. of banking interests
in Boston were seen in Orange yester-
day and the report spread that a new
bank was 20 be established.
No trace has ben found of what
Hatch did with the money he obtained
from the certihcations.
Hatch came to Chicago about fifteen
years ago and obtained a position with
y. W. Halsey e. Co. of 40 Wall Street.
He was a member Of the firm and its
treasurer when he went 10 Orange.
In the panic of 1907 he supplied the
cash demanded by a New York bank
and probably saved the day for the
Orange institution. Last year when
some of the paper of James Smith, IT..
became an embarrassment 70 the bank
be took that over.