e705c625Accommodated withdrawals, Public signal of financial health, Partial suspension, Books examined
Other: Directors invoked the statutory 90-day notice clause (partial suspension). State bank examiners and the attorney general ordered an expedited examination; treasurer Walker absconded with bonds.
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Run On the Bank. New Britain, Feb 11.-A. J. Sloper, president of the New Britain National bank, returned to-day from New York. His search for his brother-in-law was fruitless. There was a slight run on the New Britain Savings bank and it was feared it would develop during the day. The bank has deposits of $8,000,000.
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announced to-day by the directors of the New Britain Savings Bank, and this led to the closing of the bank shortly before noon. The officials invoked the ninety-day clause, which closes the institution without further notice to the depositors. At the time the doors were closed the depositors were making a great demand for their money. New Britain, Feb 13,-A director and bank New an issued Britain officer before in of the official savings bulletin of shortly noon day announced that the peculations of William F. Walker, treasurer of the bank, who disappeared in New York Sunday amount to $450,000, this sum in negotlable securities is missing. The statement on the insince bank's vestigating is examiners based who the have report been of Kenan dall To-day and State Noble its Bank affairs started Examiners investiga- Monday tion. but it is not believed that their examination will reveal a greater shortage than the amount above stated, the directors stating that the books and cash balance up to a cent. Over one-half of the missing securities are in railroad bonds. Although treasurer of the bank. Walker seldom went near the books and the opinion that the directors have held since the treasurer disappeared, that he took no cash, was af firmed when the auditors made their tentative report to-day. In a bulletin posted at the bank to-day the directors advise depositors to leave their money in the institution, assuring them that it is absolutely safe. The statement is made that the bank is solvent and that there is no end of money at the disposal of the officials. The disclosure of the shortage of a expeeted lowing at nearly half by the those affair million who the dollars have bank been was during folthe er edge a is assertsecurities disposed last few is of days, this mystery. but fortune just It in how gilt Walked that all the bonds and securities of the bank were intact when the last examination of the bank was made on October 1. 1906, so It would appear that Walker made away with the big amount stated all within four months. One of the officers to-day thought that if Walker is found in some curities New York, would There perhaps had be found in of his the pos- senever was a session. intimation lator and to that say Walker that the directors been specu- any of the bank and his numerous other acquaintances in New Britain are shocked by the disclosures is putting it mildly It is the biggest sensation New Britain bas ever known A special meeting of the bank's directors was held this morning at which some of the board were in favor of posting a ninety-day clause on the bank. closing the institution for that length of time without further notice, but President Corbin was opposed to It as were other members of the board. At this meeting C. B. OIdershaw was appointed acting treasurer to assume the duties of the missing official until the present trouble is straightened out. A committee of three directors. Lester A. Vibberts, Henry E. Russell and Philip Corbin was named as an advisory committee to take charge at the bank for a few days, one of the members being present at the bank each day President Corbin stated after the meeting that he would make public the letter he had received from Walker Monday. in which the treasurer admitted a shortage at the bank. Further details of the note have not been published and Its contents are awaited with Interest. It was also announced at the close of the directors' special meeting that the directors would issue an official statement covering the details of the bank's affair since Treasurer Walker became "indisposed" during the presence of Bank Exami'ner Kendall last Thursday. At that time Walker said he felt ill and that he would go home early in the day to rest up. "I'll be down to the bank later" be told Mr Kendall. That was the last seen of him at the bank. so Mr Kendall put off his examination. "That was the time to die into the affairs of Walker' said one of the bank direc ors to-day. "not to wait until he recovered from bis 'sickness, The run on the bank which got under way early Monday morning was kept up to-day. a big line forming at the institution before the doors opened for business It continued all day and as before, a majority of the depositors were foreigners. For the most part the amounts were small, but they counted up and it is probably that nearly $100 000 will be withdrawn before the day is over. During the last two days nearly $190,000 has been taken out by the excited depositors. af fairs Those and interested the public in in the general bank's are awaiting eagerly the report of the
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CONNECTICUT BANK COULD NOT STAND BIG RUN New Britain, Conn., Feb. 13.-So heavy was the run on the New Britain Savings band today that the insti tution was compelled to close its doors. The run came as a result of the announcement yesterday that Treasurer Walker had absconded with the funds of the bank. It was announced today that there was a shortage in the treasurer's ac counts of nearly a half million dollars.
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$600,000 BANK FUNDS GONE Bank Treasurer Has Also Disappeared DEPOSITORS CRY FOR CASH New Britain, Conn., Institution Has Been Forced to Close Doors by "Run"Treasurer Was a Prominent Churchman. New Britain, Ct., Feb. 14.-That the shortage at the New Britain Savings bank may amount to $600,000 was the fear yesterday afternoon, after the bank had been forced to close by a clamoting mob of depositors. The alleged peculations of the missing treasurer, William F. Walker, are becoming more apparent as the examination by the state bank commissioners continues. Just before noon yesterday the mob surrounding the bank and calling for the money, which was being paid out as fast as it was possible, became so unruly that it was feared a riot would result. Despite assurances to the depositors that the bank was all right and that there was no need of this wild scramble, a great crowd of depositors who represented hundreds and thousands of dollars and included prominent business men of the city, crowded the place. Just before noon when the police were having a hard struggle to preserve order, Secretary Charles N. Oldershaw mounted the counter and announced that the bank had decided to take advantage of the state law requiring a notice of 90 days before withdrawing deposits. The bank then stopped further payments. Attorney General Marcus Holcomb is. sued an order to the bank examiners at work on the books to make a quick and exhaustive examination of the entire affairs of the bank and to report at once to Governor Woodruff. Aside from the stopping of payment there were many developments. A director and officer of the bank in an official bulletin announced that the peculations of Treasurer Walker amounted to $450,000, this sum in negotiable securities being missing, The statement is based on the report of the bank's anditors, who have been investigating its affairs since Monday. Over one-half of the missing securities are in railroad bonds. Treasurer Walker had made considerable money in large real estate investments in this city, having been instrumental in opening up new residential sections. He had never been known, however, to be a dabbler stocks, but it is thought that the bank money has gone that way. According to the statements of those who are in a positon to know something of Treasurer Walker's transactions, the loss to the bank may reach $600,000. The last statement of the bank showed a surplus of $155,000, but the current valuation of the securities is approximated at $500,000. The news that Treasurer Walker is a defaulter caused consternation. Ue was the son of a leading clergyman, the Rev. William C. Walker, and was one of the most devoted churchmen in New Britain. For 25 years he has been clerk of the local Baptist church and at present is a deacon. He never missed Sunday service and was a prominent member of every church committee, superintendent of the Sunday school for years, and always a teacher in the same. He never smoked or drank, was not a frequenter of the New Britain club, and rarely took a vacation from business. He, was interested in many charitable and philanthropic institutions, the New Britain charity organization, the city mission, the Y. M. C. A. and the New Britain Institute. In many of them he held office. He was clerk of the San Francisco relief committee. That William F. Walker, the missing bank treasurer, made big inroads into the $75,000 fund of the Connecticut Baptist convention, of which he was also treasurer, was positively made known yesterday as the result of a special audit of a tentative report of his accounts instituted a little over a week ago. The committee appointed by the Baptist society will make a full report within a few days, President Thompson of the society said yesterday that a large number of railroad bonds placed in Mr. Walker's hands as treasurer are missing. Their market value was $7,000. There are other shortages in the accounts of Mr. Walker as treasurer of the society, it is alleged.
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AN Absolutely Rellable Review of the Leading News 42 of the Week in Politics, Government, Education, LaE bor, Commerce, Religion, Science and Sports. Turpentine Trust Fined. In Savannah E. D. Shotter and J. F. C. Myers, chairman of the board of directors and vice president of the American Naval Stores company, as individuals, and the S. P. Shotter company, the Patterson-Downing company, the Standard Naval Stores company and the Belgian company, as corporations forming the turpentine trust, pleaded guilty in the United States court to indictments charging them with conducting a turpentine trust in violation of the Sherman antitrust law. They were fined $5,000 and costs each by Judge Speer, who administered a severe lecture to the defendants in passing sentence. The fines aggregated $30,000. Walker Stole $565,000 Bonds. Subsequent examination of the accounts of the New Britain (Conn.) Savings bank disclosed that its treasurer. W. F. Walker, had got away with $565,000 in bonds and that these had been disposed of by Walker at New York so that they could not be recovered legally. Of this amount $50,000 was from the state Baptist funds. Under pressure of the loss the bank was compelled to suspend. The reward of $5.000 for the arrest of Walker was then published broadcast. Evelyn Thaw's Cross Examination. When the trial of Harry Thaw for the murder of Stanford White was renewed, Doctors Evans and Wagner, the alienists for the defense. repeated Thaw's conversation with them. He said he never intended to shoot White. but that Providence had stepped in and directed him. He said he merely wanted to expose White's infamy. His great fear was that the lawyers were in a conspiracy to railroad him to an asylum. After a struggle between opposing counsel the will and codicil made by Thaw on the night of his marriage were admitted in evidence. The testator had thus set apart $50,000, in the hands of such men as Dr. Parkhurst. Comstock, and others. to prosecute Stanford White for having ruined other girls besides Miss Nesbit: also a sum was devoted to prosecute any one suspected of killing Thaw. These provisions were expected to show the unsound condition of the defendant's mind. A searching and relentless cross examination of Mrs. Evelyn Thaw was begun by District Attorney Jerome Feb. 20. It soon became apparent that the district attorney's intimate knowledge of the young woman's past was drawn in part from a statement from her own mother, Mrs. Holman. His purpose was to undermine the credibility of Mrs. Thaw's previous story on the stand, and in pursuit of this his questions brought the admission that she had continued her Intimate relations with White after her first downfall; that she had received money from him regularly and had corresponded with him after Thaw's proposal. She admitted that she came to believe White's statement that all woinen were secretly unchaste. As the examination proceeded and she was compelled to tell of her meetings with White she broke down and wept convulsively.
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violation of the Sherman antitrust law. They were fined $5,000 and costs each by Judge Speer, who administered a severe lecture to the defendants in passing sentence. The fines aggregated $30,000. ### Walker Stole $565,000 Bonds. Subsequent examination of the accounts of the New Britain (Conn.) Savings bank disclosed that its treasurer, W. F. Walker, had got away with $565,000 in bonds and that these had been disposed of by Walker at New York so that they could not be recovered legally. Of this amount $50,000 was from the state Baptist funds. Under pressure of the loss the bank was rompelled to suspend. The reward of $5,000 for the arrest of Walker was then published broadcast. ### Evelyn Thaw's Cross Examination. When the trial of Harry Thaw for the murder of Stanford White was renewed, Doctors Evans and Wagner, the alienists for the defense, repeated Thaw's conversation with them. He said he never intended to shoot White, but that Providence had stepped in and directed him. He said he merely wanted to expose White's infamy. His great fear was that the lawyers were in a conspiracy to railroad him to an asylum. After a struggle between opposing counsel the will and codicil made by Thaw on the night of his marriage were admitted in evidence. The testator had thus set apart $50,000, in the hands of such men as Dr. Parkhurst, Comstock, and others to prosecute Stanford White for having ruined other girls besides Miss Nesbit; also a sum was devoted to prosecute any one suspected of killing Thaw. These provisions were expected to show the unsound condition of the defendant's mind. A searching and relentless cross examination of Mrs. Evelyn Thaw was begun by District Attorney Jerome Feb. 20. It soon became apparent that the district attorney's intimate knowledge of the young woman's past was drawn in part from a statement from her own mother, Mrs. Holman. His purpose was to undermine the credibility of Mrs. Thaw's previous story on the stand, and in pursuit of this his questions brought the admission that she had continued her intimate relations with White after her first downfall; that she had received money from him regularly and had corresponded with him after Thaw's proposal. She admitted that she came to believe White's statement that all women were secretly unchaste. As the examination proceeded and she was compelled to tell of her meetings with White she broke down and wept convulsively.
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NEW BRITAIN SAVINGS BANK. Business Yesterday Was Larger Than That of Year Ago. New Britain, April 23.-Treasurer Edward N. Stanley of the New Britain Savings bank said last evening that the complete restoration of confidence is shown by the size of the deposits made at the bank yesterday. They aggregated over $6,000. They amounted to more than the average was last year during the normal run of business, and last year was the best the bank experienced. The day's business was not due to there being exceptionally large single deposits, but there were a large number, mostly small. Some of them were up to $100 or more. The conditions at the bank are rapidly assuming their normal attitude.