1.
June 25, 1892
The Evening Herald
Shenandoah, PA
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THE BANK WILL SUSPEND. Cashier Dann's Defalcation So Great that the Institution Must Go Under. BUFFALO, June 25.-It is now certain that the National Savings Bank from which Cashier Dann has peculated, it is believed over $100,000, will go under. It is honeycombed through and through. There may be enough saved from the wreck to pay the depositors, but business men are figuring on a basis of about 75 cents on the dollar to be paid depositors. "I have just been over to the bank," said a depositor. "My two pass books show a credit of $3,000 each that I deposited, besides interest, but they tell me that on their ledgers I am only credited for $40." Dann was appointed executor of the will of his mother, the late Julia G. Dann, May 14, 1891. Under the law he is required to file an annual report, which should have been filed some time during the month of May but no such report has been filed. The estate was valued at over $50,000, and no bonds were required or furnished by the executor. There is a very large number of cash bequests made by the will, and until the executor's report has been filed it will not be known whether they have paid or not. Chief Examiner Judson says: "I haven't made a total of the last shortages found, but they add materially to the previous totals. We have been examining the mortgages and find that they are all right," he added; "at least the accounts agree with the books. We cannot tell absolutely about them until the people come in."
2.
June 25, 1892
The Sun
New York, NY
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THE BANK MAY BE WRECKED. Treasurer Dann's Defulcation Known to h at Least $100,000. BUFFALO. June 24.-The scene at the Nation al Savings Bank this morning was more in tense than at any time since the defalcatio of Treasurer Dann was made public. Ex aminer Judson said on his way to the bank "The securities so far seem to be all right Yesterday I examined the Government bond and found them all right. To-day I am goin to examine the other bonds and mortgages In these there are greater opportunities fo fraud. but I hope they will prove all right." President Beard was at the bank this morn ing. and when asked about the securities o the bank said: "They are all right. The have been in my possession all the time. looked them through yesterday. and I tell yo there is a good lump of them. Every hour comes some revelation tha some big accounts have been juggled with Judge Burrows. who is a Vice-Prosident an director of the bank. supposed that he ha $2,188 deposited. but on examination of th books he was credited with only $188. A litt! -after 11 o'clock a depositor came in and hande in his book. On A certain date he had draw $60 from the bank. but the bank ledger showed that he had drawn $2,000. Ho fle into a terrible rage and swore that he would shoot Mr. Dann If he could find him. Examiner audson says that it was impos sible for Bookkeeper Armstrong. Dann' brother-in-law. not to know that Dann wa keeping frandme nt accounts. It is also ru mored that there are others implicated an that other arrests may follow. It :- said to-day that Mr. Dann's attitude ha changed to boldness. It is reported that in claims that his salary. instead of being $2,500 should have been from $5,000 to $10,000. and that on this basis he should have received to his services during the twenty-live years from $50,000 to $100.000 more than he did. and i the deficit is no greater than these amount he took no more than 11 fair salary. The Dis triet Attorney's office says there is no chane for Dann's escape and that he will be prose cuted. As the examination of passbooks proceede during the day it became apparent that Dann' creoked work was enormous. It is now state that Dann's shortage has passed the $100.00 mark. and there is no knowing at presen where it will stop. After the doors of the bank were closed at o'clock this afternoon. Mr. Judson said: haven't made a total of the shortages found to-day. but a considerable number have beo found that will add materially to the previou totals. We find the mortgages all right. A least the amounts agree with the books. W cannot tell absolutely about them until th people come in." 11 is now definitely known that the bank will suspend. but there may be enough saved from the wreck to pay the depositors. Dann was appointed executor of the will o his mother. the late Julia G. Dann. on May 14 1891. Under the law he is required to file a annual report. but has not done so. The estat was valued at over $50,000. and no bonds wer required or furnished by the executor. Ther is a vory large number of cash bequests mad by the will. and until the executor's report ha been filed it will not be known whether the have been paid or not
3.
July 2, 1892
New-York Tribune
New York, NY
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MORE CASH FROM THE DEFAULTING SECRETARY. Buffalo, July 1.-Dann, the defaulting secretary of the National Savings Bank, to-day turned over $10,000 more in cash to Bank Superintendent Preston. This makes $53,000 in all that he has paid over. Judge Daniels was at the bank this morning and was asked if he had decided upon a definite course of action. Many look to him to lead the way In litigation If It should be deemed necessary to take such action. "It will be for the receiver to proceed against the trustees, should he think it proper to do so," sai Judge Daniels. "He will represent all the depositors, and will, of course, take all proper means to save them from loss.
4.
July 3, 1892
New-York Tribune
New York, NY
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DANN, THE DEFAULTER, REARRESTED. A LARGE ADDITIONAL SHORTAGE DISCOVERED IN HIS ACCOUNTS. Buffalo, July 2.-Edward S. Dann, the defaulting treasurer of the National Savings Bank, was rearrested at noon to-day on a warrant sworn out by Alderman John White, charging him with the larceny of $3,000. He was taken to headquarters, and ball not being forthcoming, he was locked up in one of the private cells. District-Attorney Quinby and Judge King had a conference and agreed that, in view of the fact that Dann's defalcation had reached such enormous proportions, the ball on the present charge shall be fixed at $100,000. More big discoveries of shortage were made at the bank to-day, more than wiping out the $10,000 that Dann paid in yesterday. It 18 learned that for about seven weeks before the smash came Dann worked with desperate diligence on the books He got to the bank In the morning before 8 o'clock and remained until 6 or after, and he worked every Sunday. Bank Examiner Judson said to-day that the books showed the effects of his work. Many accounts showing by the pass books $2,000 or $3,000 in deposits were ruled off on the ledgers and closed. "He no doubt supposed," said Mr. Judson, "that these closed accounts would not be examined; but he was mistaken. What the man Intended to do If he had not been detected. is hard to say. The books would have been in terrible shape, with accounts ruled off and closed on the ledgers and pass books showing deposits on the same accounts." It is now sald that the deficit is pretty certain to reach, if not surpass, $500,000, and that there is no probability of the bank's resuming business. The most remarkable case in connection with the swindle is that of a woman who is said to have a pass-book calling for $20,000, while the bank's books credit her with only a few hundred dollars. The official statements in the liabilities of the bank will come out in court next Tuesday, when the matter of a receiver will be disposed of.
5.
July 3, 1892
Wheeling Sunday Register
Wheeling, WV
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Buffalo's Busted Bank. BUFFALO, N. Y., July 2.-It is now said the deficit in the National Savings Bank is pretty certain to reach, if not surpass, $500,000, and that there is no probability of the bank resuming business. The most remarkable case in connection with the swindle is that a woman who is said to have a pass book calling for $20,000 while the banks books credit her with only a few hundred. The official statement of the liabilities of the bank will come out in Court next Tuesday when the matter of a receiver will be disposed of.
6.
July 4, 1892
Pittsburg Dispatch
Pittsburgh, PA
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BUFFALO'S BROKEN BANK. There Is Crookedness in the Failure and the Liabilities Are Half a Million. BUFFALO, July 3.-It is now said the deficit in the National Savings Bank is pretty certain to reach, if not surpass, $500,000, and that there is no probability of the bank's resuming business. The most remarkable case in connection with the swindle is that of a woman who is said to have a passbook calling for $20,000, while the bank's books credit her with only a few hundred dollars. The official statement of the liabilities of the bank will come out in court next Tuesday, when the matter of a receiver will-be disposed of.
7.
July 5, 1892
Deseret Evening News
Salt Lake City, UT
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Large Defalcations. BUFFALO, N. Y., 5. - Startling figures were brought out this morning concerning the National Savings bank defalcation. The wildest guess was outdone by actuals facts. Only about half of the pass books have been examined and the defalcation reaches the surprising total of $426,636. The revelation was made this morning in the Supreme court, when the deputy attorney. general applied for a temporary receiver for the bank.
8.
July 6, 1892
The Wichita Daily Eagle
Wichita, KS
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DEPOSITORS ROBBED. BUFFALO, N. Y., July 5.-Startling figures came to light this morning concerning the National Savings bank defalcation. The wildest guess has been outdone by the cold facts. Only about half of the pass books have been examined, and the defalcation figures up to the surprising amount of $426,636. These are the exact figures, so far as the investigation has gone. No decision has SO far been made this morning in the supreme court by Judge Hamilton Ward, wherein Deputy Attorney General Hogan made application for the appointment of a temporary receiver for the bank. Regarding the defalcation of the National Savings bank, Chief Examiner Judson said today that he believed that the total amount of the defalcation would be half a million dollars. Judge Ward will appoint a receiver for the bank on Thursday morning. BEECHAM'S PILLS cure Billious and Nervous Ills.
9.
July 6, 1892
The Record-Union
Sacramento, CA
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Heavy Defalcation. BUFFALO (N. Y.), July 5.-Startling figures were brought out this morning concerning the National Savings Bank defalcation. The wildest guess was outdone by actual facts. Only about half of the pass-books have been examined, and the defalcation reaches the surprising total of $426,636. The revelation was made this morning in the Supreme Court, when the Deputy Attorney-General applied for a temporary receiver for the bank. Chief Examiner Judson believes the defalcation will reach fully half a million. The official statement of the Bank Examiner shows the total liabilities to be $1,280,845 41; assets, $1,000,344 55, and the deficiency $280,500 86. Dann has thus far turned in money and property amounting to $53,000. The appointment of a Receiver was postponed until Thursday. Dann and book-keeper Armstrong are in jail.
10.
July 6, 1892
Waterbury Evening Democrat
Waterbury, CT
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DEFAULTER DANN'S SHORTAGE. It is Nearly Half a Million and the Bank is Out $280,000. BUFFALO, July 6.-The amount of Detaulter Dann's shortage in the National Savings Bank, came out in court when the application for the appointment of a receiver was argued before Judge Ward. Up to date, or so far as the Bank Examiners have got with the examination the defalcation amounts to $426,638. This bears out the estimate made in these despatches last week that the shortage would reach half a million. Deducting the bank's surplus and the amount restored by Dann, the bank is at the present time $280,000 in the hole.
11.
July 6, 1892
The Seattle Post-Intelligencer
Seattle, WA
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Half a Million Stolen From a Bank. BUFFALO, July 5.-Startling figures were brought out this morning concerning the National Savings bank defalcation. The wildest guess was out done By the actual facts. Only about half the passbooks have been examined, and the defalcation reaches the surprising total of $426,636. The revelation was made this morning in the supreme court when the deputy attorney general applied for a temporary receiver for the bank. Chief Examiner Judson believes the defalcations will reach fully $500,000. The official statement of the bank ex. aminer shows total liabilities $1,280,845.40 and assets of $1,000,344.55, a defiency of $280,500.85. Dann. thus far. has turned in money and prop. enty amounting to $53,000. The appointment of a receiver has been postponed till Thursday. Dann and Bookkeeper Armstrong are in jail,
12.
July 6, 1892
New-York Tribune
New York, NY
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TREASURER DANN'S BIG DEFALCATION. THE FIGURE NOW IS $426,030 AND MAY REACH HALF A MILLION. Buffalo, N. Y., July 5.-Startling figures came to light this morning concerning the National Savings Bank defalcation. The wildest guess has been outdone by cold facts. Only about half of the passbooks have been examined. and the defalcation figures come to the surprising amount of $426,636. These are exact figures so far as the investigation has gone. The revelation was made this morning in the Supreme Court before Judge Hamilton Ward. when Deputy-Attorney-General Hogan made application for the appointment of a temporary receiver for the bank. Afterward Chief Examiner Judson said. "I believe the total amount of the defalcation will reach $500,000. Fewer discoveries will be made from this time on. of course, as most of the large accounts have been examined, but half the pass-books have not been examined. and 1 feel perfectly safe In saying that 1 believe the total defalcation will be $500,000." There was an interesting scene in court, with throe distinct interests represented by counsel, though all were intent on the one thing-of seeking the best soButton of the problem presented by Dann's stupendous steal. The official statement of the bank examiners shows total liabilities of $1,280,845 4 nssets,$1,000,344 3 and deficiency, $280,500.86. Dann has thus far turned in money and property amounting to $53,000. The deficiency in the bank's funds, of course, is not as large as the steal. After hearing the arguments, Judge Ward postponed the appointment of receiver fill Thursday morning. The committee of depositors met and passed a resolution recommending Judge Daniels for receiver, the fees not to exceed 1 per cent of the amount disbursed. Ex-Treasurer Dann, and Armstrong, the bookkeeper, spent their Fourth of July in jail and still remain there.
13.
July 6, 1892
St. Paul Daily Globe
Saint Paul, MN
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STOLE HALF A MILLION. Startling Facts Developed in the Buffalo Defalcation. BUFFALO. July 5.-Startling figures came to light this morning concerning the National Savings bank defalcation. The wildest guess had been outdone by cold facts. Only about half of the pass books have been examined, and the defalcation figures up to the surprising amount of $426,636. These are exact figures so far as the investigation has gone. The revelation was made this morning in the supreme court before Judge Hamilton Ward, when Deputy Attorney General Hornan made application for the appointment of a temporary receiver for the bank. Afterwards Chief Examiner Judson said: "I believe that the total amount of the defalcation will reach half a million. Fewer discoveries will be made from this time on, of course, as most of the largest accounts have been examined, but half the pass books have not yet been examined, and I feel perfectly safe in saying that I believe the total defalcation will be half a million." The official statement of the bank examiners shows total liabilities of $1,280.845.41; assets. $1,000,444.55, and deficiency, $280,500.86. Dann has thus far turned in money and property amounting to $53,000. The deficiency in the bank's funds is not as large as the steal. Judge Ward postponed the appointing of a receiver until Thursday morning. The committee of depositors met and passed a resolution commending Judge Daniels for receiver, the fees not to exceed 1 per cent on the amount disbursed. Ex-Treasurer Dean and Bookkeeper Armstrong spent their Fourth of July in jail, and still remain there.
14.
July 7, 1892
Indian Chieftain
Vinita, OK
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BUFFALO, N. Y., July 6.-Only about half of the pass books of the National Savings bank have Been examined and the defalcation figures up $436,636. These are exact figures as far as the investigation has gone. The revelation was made this morning in the supreme court before Judge Hamilton Ward when Deputy Attorney General Hornan made application for the appointment of a temporary receiver for the bank.
15.
July 9, 1892
The Weekly Tribune
Great Falls, MT
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A $500,000 Deficit. BUFFALO, July 2.-It is now said the deflcit in the National Savings bank is pretty certain to reach, if not surpass. $500,000, and there is no probability of the bank's resuming business. The most remarkable case in connection with the swindle is that of a woman who is said to have a pass-book calling for $20,000 while the bank's books credit her with only a few hundred dollars. The official statement of the liabilities of the bank will come out in court next Tues day, when the matter of a receiver will be disposed of.