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Comptroller Appoints Receiver for Bank. Shortage $262,000 (Continued from Page One) by the directors as $262,000, but this the bank's affairs and present condiamount is in excess of the loss. tion. He stated today that nothing had come to his attention that disDiscussed Donahue Affair closed the necessity of the state atWith respect to reports that there torney's office for Windham county to had been forgeries on mortgage deeds proceed against anyone connected given by Mr. Gilpatric to James Donwith the bank or any of its affairs. ahue, to the Cutler estate and to other Not Gilpatric's Signature interests in this city who had given him an aggregate of approximately It was learned from a reliable $200,000 to invest for them, Walter H source today that there has been disGilpatrie said that his brother assured covered among the papers of Mr. Gilhim specifically in the case of the Donpatric a note for $35,000, payable to ahue and Cutler instances that the G. Harold Gilpatric as trustee of the transactions were entirely regular. trust fund set up by the late Joseph My brother told me that he handCutler for his daughter, Miss Annie ed the mortgage for the Hartford Cutler. The note is not signed by Mr. property to Donahue for him to reGilpatric. Whose signature it is. cord," Mr. Gilpatric said. "If Donahowever, could not be learned. It is hue failed to record it we cannot help stated, however, that the note appears it. He (Donahue) has run to the to be worth its face value and therestate attorney for prosecution. We fore the trust fund is not in danger are sorry. We are concerned now in of losing anything by reason of the getting together all possible assets to note. The mortgage deed, said to have make up the losses. If these losses been given on Hartford property, canamount to anything like $262,000 I not be found. But this fact is also shall be greatly surprised. not conclusive of wrongdoing, as the Mr. Gilpatric indicated that by the deed may yet be found among the ef assignment to the bank he felt that no fects of Mr. Gilpatric yet to be found. wrong was being done to individuals Refuse to Make Statement who had entrusted funds to the state From the moment that the bank treasurer for safe keeping, because opened its doors as usual on Friday he believed his brother's accounts in morning, until the institution was this connection would be found corclosed for good by vote of directors rect Tuesday morning, directors and offi. A "certain element" was charged by cials have persistently refused to Mr. Gilpatric with disturbing condimake any sort of a public statement tions in recent days to the point where showing the status of the bank. They an effort to effect a settlement with were pleaded with by depositors and the bank that would maintain its solothers who had a right to know how vency had been obstrueted. the institution stood. But all that "They are trying to make my brothwas fortheoming was the reiterated er a goat for a great many things that statement that "The bank is solvent never took place, he said in discusand capable of meeting all its obligasing reports of mortgage and trust tions. fund irregularities. There was a decided run on the Prepared For Courts bank during Saturday morning, savWhen this thing is finished up I ings accounts being particularly af think that Putnam will find that all a fected by the continued absence of losses have been made good It will definite statement of facts concerning be true if they let us get things tothe bank gether. If they put Harold in bankIn the meantime directors of the bank held frequent meetings, but ruptcy no one knows what will happen. what they discussed and what they He has to face the courts on this. decided to do. was not made public. We are prepared for this. We are Decided "Run" Starts to let the its not so The bank opened at the usual hour the as we are on Monday morning A crowd gathcourse. much prepared with We are past concerned law take in makered within a few minutes and a line ing up for the consequences of the of about fifteen people assembled bepast. fore the savings department. People Events Develop Rapidly were withdrawing their money. Some Developments came thick and fast took away sizeable piles of bills. OthTuesday afternoon. one of them beers did not have as much on deposit, ing the announcement by Walter Gilbut they were withdrawing all that patric that his brother had assigned they had. It was a serious-faced his personal property to the bank to group of people, not excited or uncover any losses he may have caused strung, but taking a natural precauthat institution. The statement was tion in the face of the uncommunicaas follows: tive statement that the bank was sol"G. Harold Gilpatric has today exevent. Business in the commercial cuted and delivered to the First Na(checking) department was stated to tional Bank, an assignment of all his have been normal during the day, property to meet any loss sustained with deposits and withdrawals about as usual for a Monday's business. It by reason of his acts. From an est:mate of his assets, it is believed that was reported that one of the bank's heaviest depositors made a 100 per they will go a considerable way in offsetting such loses.' cent withdrawal during the day. The Mr. Gilpatric indicated that by the run on the savings department continued throughout the day, and is reassignment to the bank he felt that no wrong was being done to indiported to have totalled approximately viduals who had entrusted funds to $75,000. the man for safe keeping, because he In Session Eight Hours believed his brother's accounts in this The directors held a meeting in connection would be found correct. the forenoon, lasting two hours. In Trying to Raise Money the afternoon they met again, adIt is known that Mr. Gilpatrie's journing around o'clock and re-conbrothers have been working day and vening at about 8 o'clock. They remained in session until shortly after night for a week now, in an endeavor 10 o'clock. Everyone realized that to determine what property and entersomething of major importance was prises their brother had been financiforcing the directors to hold three ally interested in and which could be meetings in one day, each of which turned quickly into cash, to meet lasted hours in length. Everyone obligations disclosed by his operations. His assets included real estate and hoped they would break their silence and tell something about the bank, automobiles which are assessed for so that even the worst fears might $10,188 in Putnam: his share in the be satisfied. But their silence was island at Juniper Point, Maine, which Sphinx-like They had nothing to say Mr. Gilpatric owned jointly with Rev. and their continued refusal to divulge Harry Fosdick, the famous New York any information to the people who preacher; the Trumbull building prohad money in the bank, greatly inperty in Hartford, said to have a mar creased everyone's fears. ket value today of at least $150,000 Long before the scheduled hour of but encumbered with mortgages of opening the bank Tuesday morning $78,625; Worcester real estate havat 9 o'clock, a crowd had gathered ing a reported value upwards of before the front door. It was easily $200,000; his bank stock, Putnam to be seen that they were there for Woolen Co., stock: the Gilpatric the purpose of withdrawing their summer home at Juniper Point. and funds. They said little to one anin all probability many more items other and a decidedly sober expresabout which the public is uninformed. sion covered everyone's face. Gilpatric Heavily Bonded Delay Bank Opening Hour Bonds of $150,000 carried by the At 9 o'elock Charles H. Brown, American Surety Company of New president of the bank, stepped to the York City and the Hartford Accident front door and told those who were and Indemnity Company are protecwaiting to go inside that the bank tion for the State of Connecticut of would be ready to do business at 10 the funds over which Mr. Cem us This pronouncement greatly xuluas when are under the know agitateuth Sundiours They tednahoed to state treasurer are carrie the to York New company fears Miss Haz Mr. Baker was seen that by the news- bank
