Article Text
Suspension of a National Bank. Newark, N. J., June 11.-The first naMonal bank closed to-day and applied for d receiver. The cashier has sailed for Europe.
First National Bank (Newark, NJ)
Episode Information
- Episode UID
5200966- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
520national - Charter Number
- 52
- Start Date
- June 11, 1880
- Location
- Newark, New Jersey (40.736, -74.172)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
d41dc54560028b63
Response Measures
None
Receivership Details
- Depositor recovery rate
- 100.0%
- Date receivership started
- 1880-06-14
- Date receivership terminated
- 1885-02-18
- OCC cause of failure
- Excessive lending
- Share of assets assessed as good
- 77.7%
- Share of assets assessed as doubtful
- 11.9%
- Share of assets assessed as worthless
- 10.4%
Events (4)
1.
August 7, 1863
Chartered
- Source
- historical_nic
2.
June 11, 1880
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Apparent insolvency due to large defalcations/irregularities by cashier and tellers; rumors of embezzlement and false statements of surplus.
- Newspaper Excerpt
- The First National Bank of Newark has suspended.
- Source
- newspapers
3.
June 14, 1880
Receivership
- Source
- historical_nic
4.
June 15, 1880
Receivership
- Newspaper Excerpt
- Senator Hobart ... has been appointed receiver of the First National Bank of this city.
- Source
- newspapers
Newspaper Articles (21)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
Review at West Point. WEST POINT, June 11. The annual review of the cadets was attended this morning by the Secretary of War, Gen. Sherman, and others. Diplomas will be awarded this afternoon. Cadets Wilcox, Tate and Burnett were vociferously cheered by the corps as they advanced to take their diplomas. Upon these cadets Whittaker had cast suspicion. NEW JERSEY. Suspension. NEW YORK, June 11. The First National bank of Newark has suspended. The last statement claimed $62,000 surplus, which it is thought was falsely stated. Financial circles are excited. Rumors of irregularities are afloat. The managers are unable to give definite information till the government examiners report. The cashier sailed for Europe last week on a leave of absence. Fatal Carelessness. PATERSON. June 11. Daniel Rynesmith's dwellings, comprising post office, store and dwelling, were blown up yesterday by powder, through the carelessness of Rynesmith's son, who was fatally injured. Horrible Death. JERSEY CITY, June 11. Moses Spratt, a colored dog fancier, while intoxicated, was fatally mangled by his own blood hounds.
Click image to open full size in new tab
Article Text
Collapse of a National Bank. NEWARK. N.J., June 11.-The First National Bank closed to-day, and the directors have applied for the appointment of a receiver. The capital stock of $800,000 is believed to be wiped out.
Click image to open full size in new tab
Article Text
New-Dork Daily Cribune. FOUNDED BY HORACE GREELEY. SATURDAY, JUNE 12, 1880. THE NEWS THIS MORNING. FOREIGN. -Gladstone's new taxes cause discontent. General Campos has attacked the Spanish The Supplementary Conference Ministry. will decide in favor of the Greek claims. DOMESTIC.-The National Greenback Convention has nominated General Weaver, of Iowa, for President, and General Chambers, of Texas, for ViceA citizens association has been President formed at Leadville, Col., to protect miners destruction Great against the strikers. has been caused by 8 fire at the oil works at Severe storms are reported Titusville, Penn. The captain in Maryland and the Northwest. of the schooner Ella A. Merritt reports at Philadelphia that she was fired on by a Spanish war vessel. The examinations closed at West Point yesterday. CONGRESS.-In the Senate the Kellogg-Spofford In the House the resolutions were considered. Marshals bill was debated and passed. CITY AND Suburban.-The First National Bank of Newark suspended yesterday, with liabilities of General Arthur returned from over $200,000. John Kelly declared that Tammany Chicago. The Newwould not support Tilden. York Yacht Club had an interesting reThe army worm 18 committing gatta. serious depredations on Long Island and elsewhere. Edward Cowley was refused The order of arrest in a new trial yesterday. the Boncicault case was affirmed. Many passengers will sail for Europe to-day. Gold value of the legal-tender silver dollar (41212 grains). 88.85 cents. Stocks less active, but after being higber, were lower, and closed weak and unsettled. THE WEATHER.-TRIBUNE local observations indicate warmer and clear or partly cloudy weather, Thermometer yesterday: Highest, 80°; lowest,60°; average, 69°.
Click image to open full size in new tab
Article Text
RYAN CHALLENGED.-Patrick Ryan, the winner of the Goss-Ryan prize fight, has been challenged by Peter F. McOwen, of Readfield, N. Y., to fight a rough-and-tumble contest for $250 or $500. McOwen is the captain of a canal boat, with a cargo for Buffalo. He is a large, well built man, thirty-five years old, and weighs over two hundred pounds. He has no record, but is anxious to make one. Along the line of the canal he is known as a "hard hitter." BANK CLOSED.-The First National Bank at Newark, N. J., closed yesterday, and the directors informed the bank department at Washington and appealed for the appointment of a receiver. The capital of $300,000 is believed to be wiped out, but the deposits and circulation are safe. The cashier, James A. Hedden, sailed for Europe last week on a leave of absence, and will be recalled by telegraph. Financial circles are excited, and rumors of irregularities are afloat.
Click image to open full size in new tab
Article Text
NEWARK'S BROKEN BANK. INVESTIGATION BY THE EXAMINER-THE ABSENT CASHIER-UNCERTAINTY AS TO THE CAUSE OF THE FAILURK The suspension of the First National Bank of Newark. on Friday, continue to be an exciting topic in that city. As very little light has been thrown upon the affair there is a great dea! of conjecture as to the probable cause of the failure. Yesterday morntag J. W. McGruder. who has been appointed by the Coutroller of the Cur, rency to make an examination of the condition and management of the bank, arrived from Washington and began his investigation. He was assisted during the day by W. A. Thomas, the paying teller and acting cashier, and by several of the clerks formerly employed in the bank. The president. Jabez Cook, was also present during a part of the day. Directors James J. Dickerson. John McGregor and William H. Murphy conferred with President Cook yesterday as to what course should be pursued. Mr. Murphy was in favor of taking some immediate action with reference to the absent cashier. The others. however, were inclined to think that it would be best to await further developments. As the direcors could take action only on their own responsibility. on the advice of counsel they resolved to take no immediate steps. Hedden is expected to arrive at Liverpool to-day at 10 a. m. Various statements are made regarding Hedden's character. One of the directors asserted that he did not believe that Hedden had lived extravagantly. A serious charge had been made against him several years ago. but an investigating committee had reported that there was no canse of action on the part of the bank. The cashier's friends assert that he was not addicted to gambling, as reported, and had engaged very little in stock speculations. They adnut, however, that he dealt extensively in real estate, and it is also stated that he bought notes on his own account. The people who saw that Heddeu was extravagant declare that he was great fancier of fine dogs and horses. Mr. Hedden gave bonds in the sum of $20,000 for the faithful performance of his duties; the bond 19 a joint one and has five names upon it. There is a lack of agreement between the opinions that have for some time been entertained of the condition of the bank by the directors and outside persons. A cashier of one of the leading banks of Newark said yesterday that the First National Bank had always been conducted irreg V. The cashiers and tellers had been permitted to carry on outside enterprises on their own account, which was not usual in bank affairs. For several months the impression had been abroad that the bank was weak. Frequently the different banks were called upon to furnish money in exchange for a draft on the Third National Bauk of this city. Several times when the clerks were asked what they were going to do with the money they replied that it was to be sent to Now-York-evidently a measure to preserve the credit of the bank. It is supposed also that a former receiving teller in the bank was an embezzler. He carried on an ink factory at the same time, keeping accounts in other banks. His connection with the bank terminated suddenly. When suit was brought against him afterward by one of the banks with which he had kept an account his property was found to be in the hands of the directors of the First National Bank. The paying teller and acting cashier, William A. Thomas, has studiously kept out of the way since the doors of the bank were clesed. All efforts to see him on Friday were unsucessful. Yesterday be was at the bank, but would not see any one. A TRIBUNE reporter interhome his on him way cepted last evening, but. in answer to estions concerning the condition of the bank. he replied that he would make no statement. He had purposely avoided questions on the subject because he wished to say nothing. The bank was now out of their hands. One of the directors said yesterday that he could not see how the teller could have been ignorant of the situation for some time previous to the suspension. Mr. Thomas is one of the partners in the firm of Bigelow & Thomas. manufacturers of chemicals. Last evening Mr. Magruder said the examination had not proceeded far enough to make any discoveries, the examination would probably last several days.
Click image to open full size in new tab
Article Text
Receiver Appointed. NEWARK, N. J.. June 15. Senator Hobart. or Paterson. has been appointed receiver of the First National Bank of this city.
Click image to open full size in new tab
Article Text
Gone by the Board. 1100 The First National Bank, of Newark, N. J., has suspended; the First National Bank, of Meadville, Pa., has closed its doors; Handleth, Ellis & Co., iron dealers, Boston, have quit, with lia abilities at $750,000.
Click image to open full size in new tab
Article Text
NEW YORK, June 16.-The examination thus far made of the condition of the suspended bank in Newark has disclosed the fact that it is insolvent, and the Comptroller of the Currency has appointed Senator Garret A. Hobart, of Passaic county, as receiver. Senator Hobart is a shrewd business-man and lawyer, and under his management as receiver the New Jersey Midland railroad has been restored from a bankrupt position to a sound business footing. Mr. Lynus M. Price, formerly cashier of the Merchants National Bank of Newark, but more recently a Government bank-examiner, Das been assigned to assist Examiner Magroder. When the announcement was made on Monday in Newark of Cashier Hedden's arrival in Liverpool, one of the directors of the bank said that Hedden by that time bad known of the bank's failure, for a dispatch has been sent to inform bim. No steps had been taken for his arrest, nor can there be any until an indictment Is found; but United States District Attorney Keasbey returned from Washington on Monday night, and was in Trenton in attendance upon the United States grand jury yesterday when they were sworn. It is_said unofficially that the bank's deficiency will be not less than $400,000. A business-man had a number of small bills seattered through the streets of Newark yesterday, which contained the following : Blind men wanted to fill the position of directors for a new national bank, to be started in a central location on or near the corner of Broad and Market streets. Also, as cashier, a man who has a dread of seasickness sufficient to keep him on this side of the pond when an emergency requires his presence at home. It will be requisite that the blind men be able to sign their names to the cashier's statement of the bank's condition. If this were not requisite, the stockholders of the proposed bank would prefer a board of directors carved out of wood, to which could be attached cards bearing the names of our most prominent citizens." It is rumored in Newark that the Western Union Telegraph Company are in negotianon for the purchase of the First National Bank's elegant $150,000 building of white marble, at Broad and Market streets, which proved to be the bank's white elephant. THE BRATTLEBORO' (VT.) FORGERIES. BRATTLEBORO', VT., June 16.-Enough is now known concerning the insolvency of the First National Bank of Brattleboro' to warrant the statement that the loss will reach upward of $250,000 through the forgeries of the president, S. M. Waite, who has undoubtedly left the country, and, as the directors believe, taken a large sum of money with bim; how much can only be determined by a long, searching investigation, which will be begun on the arrival of Bank-Examiner Hendee, who will act as receiver for the present. The forgeries include paper of the Connecticut River railroad for about $50,000; Frederick Billings, $20,000; Trenor W. Park, $20,000; Lyon & Healy, of Cbicago, $20,000; the Taunton Locomotive-Works, about $12,000; C. J. Amidon, Hinsdale, $15,000; Vermilye & Co., New York, some $75,000, and others. How much of this paper has been used by Waite as collateral upon which be may have raised large amounts for individual use the directors are unable to say, but rumors that Springfield and Boston banks have been victimized in this way are current. It is believed Waite's irregularities date back for more than ten years. Certificates of stock have been issued for which as yet there has been no record found, and a double issue will undoubtedly be unearthed. The books of the institution are badly garbled. Several stockholders are known to have lost their all by this collapse, and the feeling against the directors is very strong. It is believed that some of the directors are also financially ruined, and that another county bank suffers by the loss. Suits have been brought against some of the directors for dereliction of dutv.
Click image to open full size in new tab
Article Text
UNFAITHFUL BANK OFFICERS INDICTED." It was learned positively from an official of the United States Court. at Trenton, yesterday, that the United States Grand Jury has found indictments against James A. Hedden, eashier of the First National Bank of Newark, who is stated to be in Paris, and William Thomas, the paying teller of the bank. United States District- Attorney Keasby, of Newark, has been active since the examination of the bank's affairs, disclosed the fact of criminality on the part of the absent eashier. and he has already taken steps for his apprehension in Europe and return to New-Jersey for tri The complicity of three of the directors in covering "P the defalcation of Dovell, a former teller of the bank, will be made " subject for future investigation. It is stated that these directors were in collusion with the eashier in keeping the an ount of Dovell's defalcation from the other directors. The defalcation occurred two years ago, but through the efforts of the bank officials the facts were kept from the public. Mr. Thomas, the teller, is stated to have disposed of his interest in the cream of tartar works on the Passaie River, in which he has been associated with Thomas Bigelow and has furnished most of the capital. Receiver Hobart was questioned by a reporter yesterday, but stated that he could tell nothing beyond what was current upon the street. The examination of the books of the bank will be continued for several days before the examiner will be prepared to make his report.
Click image to open full size in new tab
Article Text
GENERAL NEWS.ITEMS. Eight of the victims of the Narragansett disaster resided in Attleboro.' Mass. Walt Whitman is in Canada. where he expects to travel leisurely some three thousand miles during the summer. The annual review of cadets at West Point on Friday was witnessed by the Secretary of War, Gen. Sherman and others. Gen. Grant is 58, Senator Blaine 50, Edmunds 52, Elihu B. Washburne 64, John Sherman 57, George F. Hoar 54, William Windom 53, Senator Conkling 51, and Gen. Garfield 49. The First National Bank of Newark, N. J., has suspended. The last statement claimed $62,000 surplus, which it is thought was falsely stated. The cashier sail for Europe last week on leave of absence. The United States Senate has passed a bill appropriating $40,000 for the erection of a monument on the revolutionary battle field at Bennington. The design for the monument will first be approved by the president and a board of army officers. The change of faith, from Universalist to Baptist, of Rev. A. H. Sweetzer, recently of Plymouth, Mass., has created a decided sensation there. A careful study of the writings and lectures of Rev. Joseph Cook led him to renounce the doctrine of universal salvation.
Click image to open full size in new tab
Article Text
FOUNDRY BURNED. AUGUSTA, Ga., July 3.-Pendleton Brother's foundry and machine works burned. Loss $25,000. Insurance $10,000, Geo. L. Jackson & Co's flouring mill was also damaged. BODIES RECOVERED. NEW YORK, July 3.-The bodies of two more victims of the Seawanhaka disaste were picked up to-day in East river, makin g a total of forty bodies recovered. Twelve persons are missing. AN INDIANA MURDER. EVANSVILLE, Ind., July 3.-A special to the Jonrnal from Mount Vernon states that a man named Baker was killed by another named Reed at 3 o'clock this afternoon. The quarrel originated at the house of a notorious prostitute. PLAYFULLY SHOT. NEW YORK, July 3.-Terrence Monahan Jurkman was fatally shot this evening in his store, 43 Sullivan street, by Theresa Jackson, colored, with whom he cohabited. In a playful mood she pointed a pistol at him, and it was accidentally discharged. HANGED. ROLLINGBOOK, Miss., July 3.-Link Wil liams was hanged here yesterday for the murder of one Plessued. About 1,500 persons were present. Williams made a short speech warning his friends of his fate, and asked them to pray for him. A DISHONEST CASHIER. NEW YORK, July 3.-Frank Lilliendahl, cashier of the first national bank of Hoboken, New Jersey, kept a private account with the bank, made some trifling overdrafts to meet family wants, and was detected by his assistant, who informed President Symes. Dismissal followed the discovery. Lilliendahl informed the president that he intended to make good the deficiency. ARRESTED. NEW York, July 3.-James A. Hadden, cashier of the First National bank in Newark, New Jersey, now in the hands of a receiver, was arrested to day on board the steamship Germania as the vessel was entering this harbor from Liverpool. Hadden says he knew when he left Newark the bank was a little weak, but everything seemed going on nicely, and he only went to Europe at the urgent request of his physician. When he received a telegram in Liverpool that the bank had closed, be was thunderstruck, and decided to return on the 17th, ten days after his arrival, out be was taken sick before leaving Liverpool. He saw in the American papers he was charged with embezzling $25,000, and the accusation nearly drove him crazy, but he would show he was honest. By the national law, he said, "no bank could hold securities unless for debt previously contracted," and from the fact that we had our building, which cost us over $152,000, we did not want any more securities, so that by advice of a few directors the real estate which really belonged to the bank was put in his name, so that the receiver, on looking over the books, W old naturally say, "This man Hayden has property of the bank in his possession." Hayden further said he had several thousand dollars worth of real estate and personal property in his possession which he would return to the receiver to show him he was honest.
Click image to open full size in new tab
Article Text
The report of the receiver of the First National Bank of Newark, N. J., shows that the assets amount to a little less than $400,000, and the liabilities to $600,000.
Click image to open full size in new tab
Article Text
The receiver of the First National Bank of Newark, N.J., reports a deficiency of $200,000.
Click image to open full size in new tab
Article Text
Receiver Hobart, of the wrecked First National Bank of Newark, is busy with his clerks paying the 70 per cent. dividenu to stockholders. On Friday, 240 creditors were paid, and a large number on Saturday.
Click image to open full size in new tab
Article Text
# TRIAL OF A BANK TELLER. TRENTON, N. J., Feb. 8.-The trial of William A. Thomas, teller of the suspended First National Bank of Newark, charged wita falsifying the books, began in the United States Court here to-day. District-Attorney Keasbey in opening the case said that Thomas was charged with falsifying the books so that the assets were aparently increased $50,000 by notes due from two directors-J. J. Dickerson and John McGregor. W. H. Donaldson, discount clerk of the bank, test fled that Thomas altered the figures in the ledger so as to deceive the examiner. W. A. Lewis, expert accountant, testified that he discovered the falsifications, and that Thomas told him that Dickerson and McGregor knew of the use of their names. Jabez Cook, president of the bank, testified that he knew nothing of the bank or of its financial business, trusting everything to Cashier Hedden and Teller Thomas. The trial will probably last several days.
Click image to open full size in new tab
Article Text
BANK OFFICERS IN COURT. TRENTON, N. J., Feb. 23.-The cases of James A. Hedden and Wm. A. Thomas, cashier and teller of the suspended First National Bank of Newark. indicted for defalcation, conspiracy and falsification of the books of the institution, were called in the United States District Court to-day. Owing to the pre-sing engagements of Congressman Robeson, counsel for Hedden, and the illness of a child of Ex-Judge Hoffman, counsel for Thomas, the cases were postponed until March 15. District-Attorney Keasbey stated that the trials would probably not occupy more than a week.
Click image to open full size in new tab
Article Text
HEAVY SUIT AGAINST A RECEIVER. Mrs. Mary A. Dovell, mother of Lewis Dovell, receiving teller of the broken First National Bank of Newark, N. J., has brought suit in chancery against the receiver of the bank, and in her affidavit alleges that the apparent deficiency of $90,000 was not due to her son, but to the cashier, Hedden, and the paying teller, who direc ed her son to hold as cash certain memoranda delivered by them to him. An affidavit by the son declares that these memoranda representen money taken by the cashier and teller. When the defloiency was discovered Mrs. Dovell assigned all her property 10 make it good.
Click image to open full size in new tab
Article Text
THE BROKEN BANK. The Examiner's Report Not to be Made Public-What the Directors Think - Excitement Subsiding Comptroller Knox on the Duty of Examiners. NEWARK, November 2.-Government Examiner Shelley is still at work in the Mechanics' Bank, and does not expect to finish his report to the Comptroller of the Currency until Thursday night or Friday. The report will not be made public, and will be sent to Washington as soon as finished. The directors believe that Baldwin's accusation, that Nugent has received the money which 18 missing. Several directors expressed their belief that the depositors would lose 25 per cent., and perhaps more. There has been no manifestations of trouble in the business community resulting from the failure, and the excitement here has abated. WASHINGTON, November -The Comptroller of the Currency has appointed Frederick Frelingbuyeen receiver of the Mechanics' National Bank of Newark, N. .J., and Lineus M. Price assistant receiver. The Comptroller says that the report of Bank Examiner Shelly, of August 16, 1880, contained the following paragraph: "I verified the account with the Mechanics' Bank of Newark, by obtaining its own balance and reconciling." Comptroller Knox says further that if the examiner had not been deceived by a forged letter of Baldwin's, which was handed to the examiner in place of the genuine letter of the cashier of a bank in New York, the enormous losses of the bank would have been exposed fourteen months ago at the date of the examination. He also says that the bank examiners have always been instructed to verify the accounts of correspondents, and that immediately after the failure of the First National Bank, of Newark, N. J., in June, 1880, the following special letter of instructions was sent to every examiner: TREASURY DEPARTMENT, OFFICE COMPTROLLER OF CURRENCY, WASHINGTON, July 31, 1880. SIR-I desire to call your attention to the importance of proving the correctness of the accounts of the banks you examine with their corresponding banks, and to this end you are instructed to call for and examine critically and, as far as possible, reconcile accounts current in all cases, or if it be found impossible to reconcile the accounts, as it, probably, often will be, you will satisfy yourself that the balances claimed, both debit and credit, are substantially correct, the means of doing which must be left to your own judgment. When the balances claimed are exceptionally large, or if you see any reason to .doubt that they are correct, you will rectify them by corresponding with the debtor or creditor of the banks as the case may require. Very respectfully, JOHN J. Knox, Comptroller.
Click image to open full size in new tab
Article Text
THE NEWARK DEFALCATION. The Government Examiner Still at Work. NEW YORK, Nov. 2. Government Examiner Shellery is still at work on the Mechanics' Bank, and does not expect to furnish his report to the Comptroller of the Currency, until Thursday night or Friday. No report. will be made for the public, but. will be sent to Washington as soon as finished. Upon the receipt of this statement the Comptroller will appoint a receiver. The directors believe that Baldwin's accusation that Nugent received the monev is missing. Several directors express their belief that the depositors would lose twenty-five per cent. and perhaps more. There has been no development as to the trouble in the business community from the failure, and the excitement has abated. No further arrests will be made at present. The Comptroller of the Currency appoints Frederick Frelinghuysen receiver of the Mechanics' National Bank of Newark, and Linus M. Price assistant receiver. The Comptroller says the report of Bank Examiner Shellev of Aug. 16th, '80, contains the following paragraph : "I verified accounts with the Mechanics' National Bank of New York, by obtaining its own balance and reconciling." Comptroller Knox says further that if the Examiner had not been deceived bv a forged letter of Baldwin, which was handed to the Examiner in place of the genuine letter of the cash ier of the bank who was in New York, the enormous losses of the bank would have been exposed fourteen months ago. Also says the Bank Examiner has always been instructed to verify the accounts of correspondents, and that immediately after the failure of the First National Bank of Newark, in June, '80, a special letter of instructions was sent to every examiner, calling attention to the importance of proving the correctness of the accounts of the bank examined.
Click image to open full size in new tab
Article Text
THE NEWARK ROBBER Y. A Receiver Appointed for the Broken Bank. NEWARK, Nov. 2.-Government Examiner Shelley is still at work on the Mechanics Bank and does not expect to finish the report to the Comptroller of the Currency until Thursday night. It is not to be made public, but will be sent to Washington as soon as finished. Upou this statement the Comptroller will appoint a receiver. The directors believe Baldwin's accusation that Nugent received the money missing. Several detectives express the belief that depositors would lose twenty-five per cent and perhaps more. There have been no developments as to the trouble in the business cummunity from the failure, and the excitement has abated. No further arrests will be made for the present. Dennis Osborn, wholesale grocer and liquor dealer, is embarrassed by the Mechanics Bank failure. WASHINGTON, Nov. -The Comptroller of the Currency has appointed Frederick Frelinghuysen receiver of the Mechanics Bank of Newark and Linus M. Price assistant receiver. The Comptroller says the report of Bank Examiner Shelley of Aug. 16,1880, contains the following paragraph:-"I verified the account with the Mechanics National Bank of New York by obtaining its own balance and reconciling." Comptroller Knox says further that if the examiner had not been deceived by the forged letter of Baldwin, which was handed to the examiner in place of the genuine letter of the cashier of the bank in New York, the enormous losses of the bank would have been exposed fourteen months ago. He also says always been instructand that immediately after the failure of the First National Bank of Newark in June, 1880, a special letter of instructions was sent to every examiner calling attention to the importance of proving the correctness of accounts of the banks examined.