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CLOSING OF NEWPORT BANK I ATTEMPTED SUICIDE CAUSES e CALL FOR EXAMINATION. 1 t 1 Cashier Anthony S. Sherman, Who Shot Himself, Still Hovers Between Life e e and Death-Condition of the Institution Not Yet Known-Sherman Had : e Sought Advice of the City Solicitor. Newport, R. I., June 20-Cashier Anthony S. Sherman of the Merchant's bank, who shot himself last night, still hovers between life and death, from the pistol wound inflicted last night and the institution, over which for many he had unquestioned control, is years The closed pending an investigation. bank is a private institution. Governor Kimball has been asked by creditors of the bank to order an inquiry under the state law, which provides that if evidences of bankruptcy appear a receiver may be asked for. Until these steps are taken the real reason for Mr. Sherman's desire to end his life will not be known. It is learned from City Solicitor Burdick that he was called upon by Cashier Sherman of the Merchant's bank two days ago for advice and, acting under directions from the cashier, drew up a petition to Governor Kimball asking for a commission to examine into the affairs of the bank. Mr. Burdick states that when he forwarded the petition he had no idea that the bank's affairs were in such condition as he is now led to suppose them to be, which in his words is "very bad." He has had no opportunity to make any examinations of the accounts and his information was secured from Mr. Sherman in a professional way. S When Mr. Burdick learned of Mr. Sherman's attempt at suicide, he advised that no effort be made to open the bank and posted the notice directing all inquirers to his office. Many depositors have called on him and he has told them that the attention of the governor has been called to the bank's condition and that future proceedings are well defined by law. Until they have been followed out it will be imu possible to make definite statements. to the last of A According annual Merchant's report the state commissioner the b bank condition was as follows: Reg souces, debts due from all other banks, th $161,141.76; specie actually in bank, er $502.95; bills in other banks, $7.244.28; deposits in other banks, $12,220.17; its ti own stock held by the bank, $22,200; In real $10,142. Total $213,451.69. g stock paid Liabilities, estate, capital interest, actually $100,000; deposits on $98,pc debts due other banks, th $238; net on in, 738.54; dividends unpaid, profits $11,017.54; fo hand, $3,457.61. Total $213,451.69. W Special report-Par value of shares, $100; last semi-annual dividend paid th January 1901, $2,000; reserved profits at an time of last dividend, $1,123.65; debts tr due and not paid, $2,775; largest amount m of indebtedness of any one person or ao firm, $14,385.23. su The bank did business with summer who held Mr. in m regard. Through iz very residents, high Sherman their of the influence he became vice president er Madison Square National bank of New ge York. or A year ago the Merchant's bank sti to be a member of the clearing 8,0 So far as tic house ceased of Newport. under can the be learned, the stockholders, D:: bank's charter, are responsible only for their stock. Should the institution be clu bankrupt, the customers would therewa fore lose, as well as the stockholders. gir death of Mr. Sherman's father, be B. Sherman, who was ] William The weeks presi- ago, dent of the bank, a few in weighed on the son's mind. It is known sa also that the cashier was interested in su certain stocks which of late have not ca proved profitatble. tar Within the past day or two cashiers' I checks have gone to protest, and yesterbu day the clearing house refused to hanrun dle checks drawn upon the bank. C
