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DANSVILLE'S BROKEN BANKS. HEAVY LIABILITIES AND NO ASSETS. -HSVM JV INGTON-HOW POOR PEOPLE WERE VICTIMIZED. SHI ao V ] . eq 01 stuees PLACE STATE "2 ades kind of cradle of Napoleons of Finance," remarked a prominent citizen to-day; and recent events turnish ample foundation for the statement. Ferdinand Ward was born not far from here; and his method of con. add Build 07 $8 08 becouses Suijueq U Suppoup collapse with large liabilities and no assets appears to be the favorite one in Dansville. Three years ago the citizens were startled by the tailure of the Bank of Dansville, owned by the Bradner family, and now the only remaining bank, that owned by the Faulkner family, bas gone the same way. The first faiture swept away about $200,000 of the earnings of the townspeople, and Ward himself could not have done the work better, as there proved to be practically no assets. The money of widows and -dtsip new business our 10 the BB Пом we sueqdao peared no one knew where. What brought about the failure was not discloseu, but the bank officials have managed to live in good style ever since. They were indicted, as they continued to receive deposits long after the bank's insolvency, according to its books. But only President Bradner has yet been tried. He was convicted and sentenced to State Prison, and for a few days was actually behind the iron bars. But he had abundance Of money with which to employ able counsel, and like u Jake" Sharp, he managed in that way to get a stay pending an appeal for a new trial. The General Term decided against him, but the case is still pending before the Court of Appeals, and in the meantime President ano drinks oup up u! daily, while his associates have not yet been tried. oqm new our quith deeling up Palay 9,MBT 041, "gutted" the Bank of Dansville appears to have contributed largely in bringing on the heads of the people here another similar disaster. The Bradners and the Faulkners were the two old and leading tamilies of the place, both supposed to be rich. They have long dominated it in business and politics, making it a Democratic town in polities, and owing to their monopoly of business facilities exerted an influence which retarded its growth in a commercial 7841 thele 04 enp SUM 11 *08098 Dansville is not on the direct line of the Erie road to Rochester instead of on a small branch running down from Avon and ending here. They had an interest in the old canal which made it undesirable to them to have a railroad come this way. Manufactures have been discouraged, 80 that it it were not for the Sanatorium, a splendid fire-proof building on the hillside, accommodating 400 patients or guests, Dansville would seldom be heard of by the outside world. The Bradners owned one bank and the Faulkners the other. Both have gone down in disgrace. President Bradner 18 under the shadow of the State Prison and President Faulkner is wanted by the Sherift, but cannot be found and is reported to be in Canada. Up to this time no oue except the bank officials and vossibly the bank examiner knows the full extent of the disaster brought on the place by the failure of the First National Bank, owned by the Faulkners. -YO you seep 11 " 0000000 reach Procebly II!" 11 ang имоня SE 181 08 assets, our 01 BV 'mns that peep you op FIND U 88 deposites ous pus 'evou 9.18 there 08 u! lind siq1 to reliters OM 7700 e 108 07 cape -deems 0094 10 place e u! 'ewn . short ing out of existence all its banking facilities, might #11 10 Suven 01 disabler Bu:iq 01 experted 00 men, but 80 far these has not been a failure. Bat there are many cases of great distress among poor people. Several employes of the Sanatorium who had the savings of years deposited in the bank lose their all. A poor widow lost $1,200, all she bad. Another widow who had, atter years of waiting. been altowed a pension, had just received the arrears and "11" 11 loses 08/100 10 "4" "Mueq or,1 UI 11 persoded though the officials knew when they received the wood V '01878 11 107 аелен prom eys 1441 Aenour man had just sold his house and deposited the money, and numerous cases of the kind ate daily coming to light. The circumstances connected with this failure are pus ouo Drevious eq: JO redection Touxe ue assome Requires ent 49 percedxe SEM 11 the group ou There were rumors for weeks, not to say months, of the weakness of the bank, but tue people put conup pus others[s] 811 10 statement UJOMS eqf at couepy the examinations conducted under the Controiler of the Currency at Washington. They were grievously misled by the department at Washington, and it is evident that it would be far better to abolish the examinations conducted under Controller Trenholm it that up pus 0880 this "II se BE OJB short of the Fidelity Bank at Cincinnati. From the toundation of the First National Bank in 1864 up to March last, it had on deposit $35,000 of the Canal Sinking Fund. Controller Chapin withdrew this money nearsolvency eq1 94 because oNe x19 &; of the bank. And yet the examiner from Washington came here after the withdrawal of that money and reported the bank as in good condition. The last published statement gave the condition of the bank at the close of business May 13, and showed resources of $145,465 to meet $37,777 of deposits subject to 41 "}jsoden 40 cortinents pummer 009'98 pas now turns out that the deposits, instead of being $43,000, were at the time of the failure about $200,000 and the resources an unknown quantity. As the department at Washington has taken no measures to institute criminal proceedings-the depositors having done all that has been done in that direction -the people here want to know it the Washington authorities think it no crime to swear to false statements. James Faulkner swore :0 that statement as president, and the names of Lester B. Faulkner, our uo words Milliams 'H 3 pus somer sworn statement as directors. Lester B. Faulkner, who since his effort to boom Roswell P. Flower for President has not been heard of in State politics, was one of the principal stockholders and directors in the bank. He asserts now that he disposed of his stock some time ago to his brother, and that he did not know much about the bank's business and that he did one euros 0883 TRUE "I statements 1881 on uSe you must have torged his name. But the people here do not appear disposed to let General Faulkner escape liability. notwithstanding these statements on his part He seems to have retained sufficient interest to -intodds one thd pus A11 01 01 or ment of a receiver, and Mr. Getman, the bank examiner now here. appears to be his warm friend. The day the bank closed its doors mortgages were recorded in the County Clerk's office covering for their full value all the property owned by President Fauikner Last September he gave a mortgage for $10,000 on part of this property to James W. Wadsworth for borrowed money. Mr. Faulkner, as a special tavor, asked Mr. Wadsworth not to record the siq DAVE pus "yneq eqf the pinom " SB "an The 909 prom ou the Jonoy 10 prom was fully protected. Mr. Wadsworth trusted Mr. Faulkner's bonor, only to discover while absent in the email our Faulditer Prosident 7541 18PM property for its full value to another person, which syruom 1841 10 peaqu recorded SRM before to Mr. Wadsworth. Some of the books of the bank were carted away at night after the failure, and the index to the big ledger was found by the roadside
