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CASHIER MURRAY MISSING. 4 BAD STATE OF AFFAIRS IN THE GOSHEN NATIONAL BANK. Saturday's Run Followed Yesterday by the Announcement of the Bank's Suspension -Murray was also County Treasurer. GOSHEN. June 27.-The Goshen National Bank failed to open its doors for business at the usual hour this morning. The following notice was appended on its doors: By order of the Board of Directors of the National Bank, pending an examination of the books, securities. and accounts by the bank examiners, this bank will be closed. The directors desire to say to the depositors and the public that a somewhat hasty examination has been made by them. and nothing has been discovered which renders doubtful speedy payment in full to all the depositors. and it is now expected that the bank will be open for the regular transaction of business in a few days." William M. Murray. the cashier of the bank. is missing. and is said to be in New York. At a special meeting of the directors held on Thursday it was discovered that the bank had been making loans to Mr. Murray and others on insufficient securites, and that its finances were in a very confused and unsatisfactory condition. At another meeting of the directors held on Saturday it was decided that the institution be closed pending an official investigation of its affairs. Bank Examiner E. M. Gettman arrived this morning and began the investigation. Cashier Murray is n son of the late Congressman William Murray. a former President of the bank. Murray is also Treasurer of Orange county. His friends say he has acted strangely of iate. and they believe that his mind is affected. He returned from New York last night. but left again this morning. and his present whereabouts are unknown. It is said that before leaving home this morning he filed his resignation of the post of County Treasurer. All sorts of rumors are current concerning the actual condition of the bank. It is generally reported that there is a shortage of from $50,000 to $60.000. The capital stock of the bank is $110.000. and its surplus about $22,000. The surplus is believed to have been sunk and the capital seriously impaired. The directors are wealthy men. so it is believed that the impairment of the capital will be made good and the bank resume business. The funds of the county in Trensurer Murray's hands are believed to be intact. It is said here that Cashier Murray and his family have been living extravgantly for some years past, and that his expenses have considerably exceeded his income. He recently built a house at a cost of $15,000. and fitted it with expensive furniture. This and other extravagances are mentioned as accounting in a large degree for his present financial troubles. Cashier Murray was out of town several days last week.and his absence caused alarm among depositors when it became known. This feeling of distrust increased until Saturday. when there was a small-sized run on the bank. Over $30,000 were withdrawn during the latter hours of the day. The Hon. Henry Bacon. counsel for the bank. hastened home from Washington when he heard of Murray's disappearance, and took charge of affairs. He foresaw that it would be impracticable to stand a second day's run like that of Saturday, and upon his advice it was decided to announce the temporary suspension of business. The last report of the bank was made on May 17. The resources were then placed at $446,938. including $110,000 capital stock. $22,000 surplus. $10.711 undivided profits, and $254,314 individual profits. Mr. Bacon said to-day that he was of the opinion that the surplus and undivided profits would be wiped out of existence. and it was possible an assessment on stock might be necessary to clear up the deficiency. He thought $40,000 would be a high estimate. This shortage. he did not think. was due to anything the cashier had done. but rather
