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the money by IIIIII IS There is reason amazing for doubting the true explanation of the same whether amount taken. made. At disposition the the funds has yet been in of nothing has yet come to light Wall lost time which shows that the money fear was that street, exchange speculation. The banks in in there stock would be a run on the Savings' New Jersey has not been realized. A MAN WHO KNOWS. of Early yesterday morning a representative who inEvening Post met a gentleman of trouble quired the if there was not a rumor such a report in a Newark bank. Being simply: told Mechanics? current, he said, because it has been was Yes. Then, said he, it is money, has gone by its cashier and the inquiry the robbed speculation. On further building in stock said that in a certain which not gentleman the Mechanics' bank, of the remote from under control building was cashier and some of his defaulting person had for some time occu and friends, a office which suited him vacate, entirely when, pied an was not disposed to to sur which to his astonishment, he offered he was finer requested and more at- a render it, but was same building at tractive quarters in the willingly accepted the transaction. lower rent, and of The course occurrence was thought and inquiry provoked to be queer and Then naturally it was found that a ticker Wall observation communicating with and telephone put into the room, which tube was street,had been connected by a speaking hereafter furthermore the national banking house. were conwith and some of his' 'friends who the cashier at the room, and the person up stant visitors that he shortly gave the tells Mechanics' the story avers bank and looked upon unhad the merely as a matter of time. who crash This is directly from of knowing a man and observing usual opportunity utely contradicted by statements whom he It is absol and of brokers with connected. the cashier be most intimately entirely is reported to likely that there will be few It now seems developments after a the cashier. new days, and which surprising will involve others beside DISCLAIMING LOSSES. N. J., Nov. -Warren Mechanics' AckerNEWARK, former director of the the man, a bank, who remonstrated against National power, has began a law suit negligence. against one-man Halsey for loss caused by the large President that he received They say Nugent denies stated by Cashier Baldwin account stood amounts they cannot ascertain because Baldwin how his had them 80 at the bank. and he was in latter's power. mixed None up, of the banks are seriously involved with the Mechanics. of the Mutual Benefit Life that In The president company, telegraphs their agent them, their surance failure does notembarrass reduced since deposits the bank's having been steadily May Collections received from agencies have been deposited in the Nov. State 1. bank. District Attorney NEWARK, N. J., the surrender of propKeasby has demanded factory, on the ground from that the erty in Nugent's by money obtained in case bank was acquired under promise of turning it over of necessity KNOWN FOR SOME TIME. NEW YORK, Nov. 1 The Peoples' bank of New- has claim against the Mechanics' bank Exch ange a ark for $29,000,and the Connecticut bank one of $13,000. well acgentleman The Express with the says condition a of the this leading afterknowledge noon, that, money quainted institutions in the city said of the Newwas on condition ark street me banks ths ago. The bankers paying on teller lower of Wall of the most prominent a messenone told him three weeks ago into the Broadway neighboring bank rushed big hole in the Mechanics' ger office from and blurted out: bank There's in a Newark out up look to be from made under The teller was and boys; stand out when he heard the intelligence he was cirpaying messenger to be silent, as alone to told the report damaging, not only The culating a but to city banks. the Newark bank, confirmed what he had messenger afterward the rumor had got said by the remarking clerks in that his bank and he thought among good piece of news. it a GOSSIP AND SPECULATION. the wreck of the Mechanics' National business In at Newark, what strikes the and bank men as strange is, that the should directors, have first, never bank examiners, it worth while next, to verify the statement had over thought Cashier Baldwin The bank York The at of in deposits in New exploded $2,000,000 to verify this would is have said, when tempt the deception at once, item and, of this kind there was an the amount of the capital, it about five have times been thoughta verification reason would for would made. There is yet directors no know have been the rumor that some to ad believing the matter than they care Attorney more about United States District mit. It seems satisfied after an examination Keasby became of the Mechanics' bank and paof the books to Nugent & Co. aasertions surrendered of pers Cashier relating Baldwin that the were subby his voluntary statement demand Baldwin in And he made the stantially true Nugent's counsel, that the proJudge Jesse, in the hands of Nugent receiver & Co. be in perty now surrendered to the abstract immediately restitution of the amounts with Baldwin. partial ed by Nugent attorney in complicity exhibited to Jessie The district on which the claim is based, were pro- and some papers the goods now in the factory drawn insisted the application of money property duced by bank, and were in full the allowed to from the bank. Jessie asked to be matter and of the expert examine the be have an himself, the property should com- left pledged undisturbed until the examination was and he could give an answer. attorney pleted stated to the district from Nu- he Baldwin per cent. ommission taking received for 1 negotiating business. his paper Counsel and for gent charge of his banking believed his client would enabled to prove Baldwin said he the truth of all in said his that had with been regard to transactions It has confession Nugent & Co. with the bank. August, with C. been ascertained that during drawn September already and October the firm He had thought the about $487,000. to long from the figures bank were this nearly it $500,000. would not With such take Of had been some drafts as draw out $2,000,000 money course paid into there the bauk not by reach Nugent 50 per & Co., cent. but of the the payments Counsel did for C. Nugent said he false. would C. drafts. to show Baldwin confession amount be able & Co. had not drawn such in and he Nugent in excess of their credit, be 10 per as $2,000,000 if the excess would making doubted even amount. The firm was a up moneys cent. of that statement from the books and drawn paid
