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ENCOURAGING TO DEPOSITORS. ANOTHER BANK CASHIER ACCUSED OF EMBEZZLEMENT. It is no exaggeration to say that great excitement was occasioned in Elizabeth, N. J., yesterday when it was noised abroad that Mr. Jeremiah Fairbanks, cashier of the State National Bank, and hitherto a most exemplary young man, had been arrested on a charge of embezzling the funds of the bank to the extent, as is variously asserted, of from $10,000 to $25,000. The defalcation was discovered by the visit of the bank examiner, which showed a deficit of $5,000. Fairbanks sent a note 10 Vice President Kellogg, which stated that he was in trouble and was nearly crazed, intimating that he intended to commit suicide, and finally gave himself up, and is assisting the officers of the bank in making a clean show of his accounts. which are being refully overhauled. Fairbanks was looked upon in Elizabeth, among his acquaintances, as one of the most trustworthy employés of the bank. He had been employed as bookkeeper for nearly sixteen years. and upon the opening of the First National Bank several years ago was offered the position of cashier, but declined. Subsequently he became assistant, was noted as being quiet, shrewd in business transactions and the very soul of honor. He drank not, neither did he smoke or indulge in high living of any kind. Yesterday a slight run was made upon the bank upon the first rumor, but the people were informed that no apprehension need be felt as to the ability of the bank to pay. dollar for dollar to all depositors, which bad a quieting effect, and many went away. A gentleman in Elizabeth banking circles stated to a HERALD representative last evening that the result of the examination would show no embezzlement, but that Fairbanks had loaned the funds of the bank to persons in whom he had confidence, but who betrayed his trust in them.
