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A SENSATION IN CHARLOTTE. Cashier Holland, of the Merchants and Farmers' Bank a Defaulter to the Amount of $80,000--His Peculations Running for Years. CHARLOTTE, N. C., April 23.-Cashier J. R. Holland, of the Merchants and Farmers' National Bank, of Charlotte, is a defaulter to the amount of $60,000 or more. Bank Examiner Miller has been here for several days and says he will remain for at least two weeks longer. It was he who discovered the defalcation. Mr. Holland's peculations have been carried on for eight years past, and he has managed till the last few day to hide them from discovery. The exact amount of them is not yet fully known. No man in Charlotte has in the past been held higher in regard or been more fully trusted than Mr. Holland, and the whole city was greatly sur prised and shocked to hear of his embezzlement. He has not yet been placed under arrest, at the request of directors of the bank, he agreeing to waive an examination in case proceedings are begun against him. He has never made the slightest effort to escape. Week before last Bank Examiner Miller stopped at Gastonia on his way to Charlotte. He examined the National Bank there thoroughly, and knew every bank with which it had an account or money loaned. He found that bank in good condition and came on to Charlotte. The first day he spent at the Merchants and Farmers' bank he discovered on looking over Cashier Holland's books, where he had a loan of $5,000 marked to the Gastonia bank. He called Mr. Holland up and asked if that was correct. He aid yes. Mr. Miller made a mental note of the fact. He next proceed to look over the casb. He found it short just one dollar. That was easily accounted for and paid That night Mr. Miller left. No one asked where he was going, but supposed he was through his examination and gone elsewhere on the same errand. He had gone, but only to return. He took the 10:40 o'clock train for Gas tonia, rung up Mr. Jenkins, the President of the bank, and told him he wanted to look over his books again. Mr. Jenkins wondered what was up, but said little. He and Mr. Miller spent the night going through the books. No loan 0 $5,000 to the Mer chants and Farmers' bank was found. Mr. Miller said: You have loaned the Merchants and Farmers' bank, of Charlotte, $5,000 of which there is no record.' "No," said Mr. Jenkins, "I havenot." Tnat was the beginning of the end. Mr. Miller said nothing more, but came back to Charlotte the next day. He appeared at the Merchants and Farmers' bank and said to Mr. Holland, that he might have made a mistake in courting the cash the day before, and believed he would count it again. Instead of finding it only one dollar short, he found $16,000 short. Mr. Holland, as was his custom, had borrowed $16,000 to put to his cash while the exam iner was here, but thinking he had finished and departed, and that he was safe at least for another year. he withdrew the $16,000 and returned it to the party from whom he borrowed it. Seeing that all was lost, he confessed to President McAden that he was a de faulter and the sad story of his fall be came known. The Merchants and Farmers' bank is perfectly safe, having a sufficient re serve fund to cover all losses. LATER -Holland assured the bank officials that he would stand his ground. They trusted him. Oa Tuesday night he disappeared as effectually asif theearth had swallowed him up. It has since developed that he was a forger, as well as defaulter. The amount of the shortage is now over $80,000 and still grow. ing It was reported Saturday that Holland has been located.
