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EMBEZZLEMENT IS A SENSATION (Continued from page one) hauer, and J. W. Walker, vice-president. Mr. Hite was elected president at the annual meeting in January, succeeding Dr. J. S. Parrish, who died last fall. Discovered By Accident Mrs. Quint's surrender to the authorities was made before the shortage in her books was discovered by the examiner. Mr. Freund arrived in Pleasant Green Thursday afternoon about 4:30 o'clock, and met Mrs. Quint on the street. She accompanied him to the bank and offered assistance in running off the individual ledger, according to Mr. Freund. But the examiner had other plans, and told Mrs. Quint that he would take care of that ledger this time. It has been Mrs. Quint's custom heretofore to read off the totals to the examiner at the adding machine, and, according to her confession, insert the amount she had embezzled as the last figure, thus making the sum tally. According to Mr. Freund, Mrs. Quint left the bank few minutes later, and he heard no more from her until he was notified that she had confessed to appropriating some of the bank's funds. In the meantime, however, he had run off the individual ledger and found discrepancy so great that he felt that he had made an error. Again he ran the totals off and had W. B. Rissler, cashier, to check them with him. Again the total was the same, and still Mr. Freund felt that an error had been made. Since it was late, he decided to re-check the run-off the next morning. And soon afterward the same night was informed of Mrs. Quint's action. Mr. Freund would make no estimate of the amount missing, saying that he would not do so until he had completed the examination. but said that it was not under $6,000. According to W. B. Rissler, cashier, the embezzled amount is approximately $9,000. Given 10 Days To Re-Open Even would not close the bank, which has been one of the strongest in the county, size considered, but the effect on the depositors was the factor that the directors considered. They feared that the news of the embezzlement would cause run on the bank and that it would be forced to close. So the board agreed unanimously to close the doors temporarily. According to Mr. Freund. he planned to call meeting of the board this week, when the situation would be discussed, and further steps determined. The banking laws give the bank ten days in which to re-open. In talking with several of the directors reporter for The News found that they would like to undertake the re-opening. Mr. Hite, the president, feels that it should be re-opened, but if depositors do not COoperate and leave their money in the bank. it would be useless, he says. W. B. Rissler, who has been with the bank since its establishment in 1905, and who is cashier, says that as far as he is concerned he does not feel that he can be party to the recrganization. Mr. Rissler is 69 years old and says that if he were a young man he would undertake the proposition. On his shoulders much of the burden of the trouble has fallen. He is the leader who people looked to and on whom the others directors depend. For him Pleasant Green people are very sympathetic for they realize that his untiring work had built a splendid institution. Property Deeded To Bank Mrs. Quint has been one of Pleasant Green's best known women. She has been bookkeeper of the bank for eleven years, and held the respect and esteem of the people generally. Naturally she had her enemies, but she also has her friends, who are grieved and shocked at her confession. Her husband. Alfred Quint, operated one of the town's garages, and they owned two of the nicest houses in the town, and a car. The garage equipment, houses, and lots were deeded to the bank Friday. Mrs. Quint was an active member of the Pleasant Green Methodist church, and took part in all social activities. It was "Carrie," as she known in Pleasant Green, who took charge of the funds received from the socials; it was "Carrie" who was depended on to do many of the things in church work that required leadership. And so her confession to such a crime as comes as a shock. Up and down the street people had formed in little groups to discuss the matter. Some were indignant and vindictive, for they had their money on deposit and could not get it. Others, more philosophic, felt disillusionment in one they loved and respected more than they felt the loss of cash. Told You So" "How could she do it to us?" many asked each other. There were some who said, "I told you so." And the universal question was "What did she do with it." At Hurt's general store and at Mrs. W. B. Woolery's people discussed the matter. Up and down the street they walked, rather dazed, hardly able to comprehend it all. Many had no ready cash. Stores could make no change, and the panic that characterizes a financial disaster was evident among many. A. G. Wolfe, manager of the shipping Thursday evening at about 5:30 oclock deposited $1750, money received from shipment of live stock. This money belongs to several different farmers who need the money badly, according to Mr. Wolfe to carry on farm work this spring and summer. According to Mr. heavy depositors in the bank included Mrs. J. S. Parrish, D. L. Schupp, Mrs. Jim Read, E. W. Hite, A. Bettridge, Mrs. J. W. Walker, and U. V. Wyatt, the latter of Belton, and a former minister at Pleasant Green. Loss May Not Be Great Should the directors decide not to re-open the bank, liquidation will be started. According to Mr. Freund the depositors very likely will not lose cent. although notes are rather hard to collect on at this time. The surplus, which is $13,000, would take care of the deficit caused by Mrs. Quint's embezzlement. But the problem is this: Has the confidence of the people in the bank been shaken to such an extent that they will not support it any more? Capital stock in the bank is $13,000, and deposits are $63,000, according to Mr. Freund.
