First National Bank (Willimantic, CT)

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Telegraphic Brevities

Count Gorolamo Nazelli has been recognized by the State Department as acting Consul of Italy, at New Orleans, pending the appointment of a successor to Chevalier Ricarrdo Mottda. The Tacoma schooner Behring Sea, reported lost, with all on board. has been spoken by Captain Foote, of the steamer Mischief, safe in Clayo Que Sound, where she has been detained by rough weather for the past week. Camptroller Eckels has closed up the First National Bank of Williamantic, Conn., and placed Bank Examiner Dooley in charge. The capital of the bank is $100,000, and it has become impaired, it is said, through the carelessness or otherwise of the cashier, who recently died. In addition to the well-founded reports of contemplated extensive additions to the Laurel Lake and Tecumseh Mills, it has become known that a movement is on foot to establish a new corporation at Fall River for the manufacture of med-um-count cottons. At Walland Webber's saw-mill, at Saginaw. Mich., yesterday morning Frank J. Mavelle, head sawyer, fell upon a c:rcular saw, and was cut through the shoulder, across the spinal column and into the lungs. He lived an hour and a half in full consciousness. According to agreement, the increase in wages from 5 to 10 per cent. went in effect at the United States Cotton Company's big mill at Central Fall, R. I., yesterday, in all the departments. The mills are running at their full capacity, and 1,630 looms are now in daily operation.

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LATER-A SMALL PANIC, Great Excitement Prevailing-The Savings Bank Suspends. Willimantic, April 22.-Great excitement prevails in this city to-night over the closing of the First National bank of this city by Bank Examiner Dooley. A crowd of anxious depositors whose money is tied up in the bank gathered about the bank this evening and discussed the troubles of the bank. bank, which had large deposits in the Late this afternoon the Dime Savings First National bank, suspended payment to their depositors. Many of those who had their money deposited at the Dime Savings bank called at that institution this afternoon and tried to withdraw their money. A run on the bank followed and the bank directors decided to suspend payment until the panic was over. A statement could not be secured from any of the bank officials or the bank examiner this evening. It is stated that the Merchants' Loan and Trust company, a concern in this city, with which the late Cashier Risley was connected, and which is now defunct, held 560 shares of the stock of the First National bank. Risley was believed to be worth several thousand dollars, but an investigation leads to the discovery that at the time of his death he was practically insolvent. I Cashier John L. Waldon of the Dime Savings bank to-night was asked for a statement concerning the Dime Savings bank's relations with the closed bank, but he declined to say anything.

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Disgrace After Daath

HARTFORD, CONN.. April 23.-Excitement continues to-day in Williamantic over the closing of the First National Bank by National Bank Examiner Dooley. There are ugly rumors to-day about O. H. K. Risley, the cashier, who died a few weeks ago, and it is said that he forged the names of some of the directors, including John M. Hall, of the Consol:dated road. The bank was the corrospondent of the Dime Savings Bank and some of the latter's funds are *tied up. There was a run on the Savings Bank to-day, but business was suspended when it was feared that there would be a rush.

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WILLIMANTIC'S BANK FAILURE

Ugly Rumors Afloat About the Cashier Who Recently Died. Hartford, Conn., April 23.-Excitement continues to-day in Williamantic over the closing of the First National Bank by National Bank Examiner Dooley. There are ugly rumors to-day about O. H. K. Risley, the cashier, who died a few weeks ago, and it is said that he forged the names of some of the directors, including John M. Hall, of the consolidated road. The bank was the correspondent of the Dime Savings Bank, and some of the latter's funds are tied up. There was a run on the savings bank to-day, but business was suspended, as it was feared that there would be a rush.

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ANOTHER WILLIMANTIC BANK CLOSED

Hartford, April 23.-Excitement continues in Willimantic over the closing of the First National Bank by National Bank Examiner Dooley. The bank was the correspondent of the Dime Savings Bank, and some of the latter's funds are tied up. There was a run on the savings bank to-day, and business was suspended.

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WILLIMANTIC'S BANK TROUBLES

Still Much Excitement-The Affairs of the Bank Being Investigated-The Dime Savings Bank and Its Funds Believed to be All Right. Willimantic, April 23.-The excitement in this city over the examination of the affairs of the First National bank in this city continued to-day. The announcement of the closing of the bank by the bank examiner pending an investigation has brought to the city today many farmers from the surrounding towns, who have endeavored to draw their deposits from the bank. The uneasiness among the business men in this city regarding the troubles of the bank is increasing, and it is feared that the troubles of the First National bank may precipitate several of the business men of the city into serious difficulties. The bank held the deposits of the principal merchants in the city, and in consequence of the action of Bank Examiner Dooley in closing the bank those business men whose funds are tied up in it find themselves crippled seriously. The examination of the bank's books has been in progress all day, being conducted by the Bank examiner and Cashier Culverhouse. The latter official said to a Connecticut Associated Press reporter to-night that no definite statement regarding the condition of affairs could be given out. In the investigation it has been found that the accounts of the late Cashier Risley, which were under his own direct control, were badly mixed p and it will take several days to straighten them out. President Walden of the Dime Saving bank could offer no information regarding the bank's affairs to-night. He said that there was no occasion for alarm among the depositors of the bank with which he was connected. The bank, he explained, was compelled to suspend payment because of the panic, and the action was taken by the Dime Savings bank as a measure to save the other depositors. President Walden said that as soon as the bank examiner could complete his examination of the First National bank's accounts that the Dime Savings bank would resume business. The Dime Savings bank to-day issued an order to its depositors announcing that no money would be paid out to any of its depositors until sixty days. Mr. Dooley was seen to-night at the Hooker house, but he refused to talk j regarding his investigation. He said that he would probably finish his examination in two or three weeks, when he would inform the comptroller of the currency of the result. Considerable comment has been OCcasioned in this city in the delay of the government officials in discovering the condition of the First National's affairs. The fact that the Merchants' I Loan and Trust company, which was I the old Risley and Preston organization, P I held 500 shares of the stock of the First National bank, is a matter which it is thought needed an investigation before this. The organization has been defunct some time. Congressman E. Stevens Henry, who is one of the directors of the First National bank, said to-night he could give no statement regarding the amount lost by the bank through the late cashier. d

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IN BAD CONDITION

The Affairs of the First National Bank of Willimantic Terribly Involved. Washington, April 4.-Comptroller Eckels has received a preliminary report from Bank Examiner Dooley on the condition of the closed First National bank of Willimanic, Conn., and because of the state ment Comptroller Eckels decided to place the bank in the hands of a permanent roceiver. Examiner Dooley reports the assets as about $440,000, due depositors and other banks $300,000, and from these figures the comptioller thinks all creditors will be finally paid in full. Loans and discounts are placed at $344,000, the greater part in the bank, and part is rediscounted. The books' statement of $44,000 is incorrect. and the bank's paper to the extent of $509,000 IS forged. most of which is in the books, and part of these notes have been rediscounted. If the estimate as to the missing paper and forged paper is found to be correct, the bank's capital of $100,000 and surplus of $25,000 will be wiped out.

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THE WILLIMANTIC BANK'S LOSSES

Washington, April 24.-Controller Eckels has recelved a preliminary report from Bank Examiner Dooley on the condition of the closed First National Bank of Willimantic, Conn. From It he has decided to place the bank in the hands of a permanent receiver. Examiner Dooley reports that the assets are about $440,000, and there is due depositors and other banks $300,000. Cortroller Eckels thinks all the creditors will be paid in full. The loans and discounts are placed at $344,000, the greater part in the bank, but part of them rediscounted. The book statement is $44,000 incorrect. The bank's paper to the extent of $59,000 is forged, most of which is in the books, but part of these notes have been rediscounted. If the estimate as to missing paper and forged paper is found to be correct, the bank's capital of $100,000 and surplus of $25,000 is wiped out.

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Stockholders Assessed

Willimantic, June 7.-Receiver Doodey of the wrecked First National bank has sent out notices to the stockholders of an. assessment of 100 per cent.

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Willimantic Bank Wreck

The report of James E. Hayden, receiver of the Natchaug Silk Company of Willimantic,Conn was submitted to court at Hartford, Conn. The report is the sensational wrecking of the First National Bank of Williman tie by its cashier, the late O. H. K. Risley. The report shows that Risley sank more than $300,000 in the Natchaug Silk Company, stealing the bank's assets and capital stock to do it, and covering up his tracks with forgery and misrepresentation. As a matter of fact, it had been stripped of every available asset, to the extent of nearly $300,000, and there is nothing to show whither the money had gone.

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MANSFIELD

(Correspondence.) -The funeral of Mrs. Cynthia Reynolds last Friday was largely attended, and the floral display was bountiful and beautiful, contributed by friends in and out of town. The family plot was profusely adorned with flowers, tastefully arranged by friends who held her in high esteem. She was lineally descended from the pilgrims of the Mayflower, was 75 years old, and leaves a husband and one daughter. -The failure of the Natchaug Silk Co. of Willimantic, and consequent wrecking of First National and Merchants' Loan and Trust banks of that city, is most of anything talked about just now, many parties in town holding stock and having deposits in the wrecked banks. That officers of any bank should trust the entire capital of the banks to one company is surprising. These failures have caused heavy loss to the Dime Savings Bank, but with the surplus on hand could have borne the loss and continued business without interruption but for other bad or worthless paper held against other parties, with insufficient security. It is intimated that some notes held by the bank were taken on securities the directors had no right to take, and that they are thus personally liable for the loss. However that may be, it is a foregone conclusion that the depositors will sustain a loss. The bank, as reported last October, had in deposits $626,591, and only $7,302 of non-productive loans, but it is feared that the bank holds a considerable amount of worthless paper. Probably one-half the depositors have given notice to withdraw their deposits, and the directors would scale the deposits if they could find any law to warrant them in doing it. If all the depositors would agree to submit to a scale it would be legal, otherwise the bank would have to go into the hands of a trustee or it could pass its dividends, hoping in time to make up the bank's loss. Our correspondent is evidently mistaken as to the power of the directors to scale down the deposits. If the assets have shrunken, as they probably have, they would be remiss in duty to pay out its assets to those who came first, leaving nothing for the last comers.

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BRIEFLY TOLD.

Fortier & Co., furniture dealers of Montreal have assigned; liabilities $30,000.

Mr. Horace Parker of Chicago was in the city Thursday calling on relatives and friends.

The Methuen Company's mills is to be reopened Monday after a three weeks' shut down.

Prof. Heinrich von Sybel, the German historian, died at Marburg, Thursday. He was born December 2, 1817.

Mrs Rebecca A. Burrill of Belfast, long identified with temperance and other reforms in Maine, died Wednesday.

Robert C. Scott, ex-city treasurer of Jacksonville, has been arrested on a charge of embezzling $10,707 of the city's funds.

The race for the Goodwood cup Thursday was won by the Prince of Walos's Herizel, which was the favorite, at 10 to 1. Thessalion, second.

Steamer Twilight, which run between Boston and Nantasket beach for the past 13 years, has been sold to Philadelphia parties for about $30,000.

Arrangements were made Thursday whereby Hon. A. J. Warner president of the National Bi-metallic league, and Hon. R. G. Horr of Michigan, will discuss the silver question at Lakeside, Ohio August 7.

The summer hotel Tonywatha, opposite Madison, Wis., containing 50 guests, and owned by W. D. Eaton & Co., of Boston, has been destroyed by fire. There were many narrow escapes, but no one was hurt. The loss is $30,000; insurance $15,000.

Comptroller Eckles denies that he knew that the First National bank of Willimantic, Conn., was insolvent a year before its failure and that information to that effect was furnished him after examination of the bank.

A surprise marked yesterday's play in the Hotel Wentworth tennis tournament at Newcastle, N. H. Budlong, whom every one had considered invincible, was defeated in a two set match by W. M. Scudder of St. Paul's school, 6-4, 6-5.

At Cincinnati, the Standard Wagon company and Davis company assigned yesterday afternoon. The Standard is reported as having $300,000 assets and $400,000 liabilities; the Davis company $150,000 assets, but no statement of liabilities is given.

James Nolan has sold his well known race horse St. James, to Ed. Woodside of Brunswick for $1200. It is understood that Mr. Woodside bought for a third party. St. James has a record of 2.26 and is a very handsome horse.

Two hundred comrades of Burnside post turned our Wednesday evening to a camp fire, given in honor of Capt. Henry Little of Chicago, formerly of Auburn, by the post Wednesday evening in Grand Army hall, Auburn.

The grand jury in Chicago have voted indictments against six election judges, charging fraudulent practices in the election last November. The men against whom true bills were returned are A. E. Gage, Andrew Buchanan, John Reedy, E. P. Strain, Thomas Meeneley and Timothy McLaughlin.

Governor McCorkle of West Virginia and party, who have been spending a week at Atlantic City, have been summoned to Wheeling immediately because of a strong probability of a strike among the coal miners on an immense scale, beginning in Pennsylvania and spreading through out West Virginia. Illinois. Ohio and Indiana.

Sheriff Tamsen ex-Warden Raabe, ex-Keepers Schoen and Schneer of the Ludlow street jail New York, has been indicted by the grand jury of the general sessions in connection with the escape July 4th of the post office robbers. The sheriff has been notified of his indictment and warrants have been issued for the ex-keepers' arrest.

George H. Shaw of Augusta, who has been travelling from town to town through the state selling small wares on the street, was arrested at Madison this week for sales of the same without a license as prescribed by the statutes. He pleaded guilty and was sentenced to a fine of $50 and costs; and in default of payment was committed to jail.

Following the decision that probate judges have had no right to grant divorces in Oklahoma since August 13, 1893, the supreme court decided that even their jurisdiction was confied to persons who had been residents of the territory two years or more, and that all divorces granted by them to persons on 90 days' residence are null and void and subsequent marriages bigamous. This effects about 400 divorces of eastern people.

Two coal barges were launched at Bath Thursday, a 1200 ton four master, the Forest Belle of New York, from William Rogers' yard. She is owned by William Besse of New Bedford, Mass., and will be commanded by O. M. Harding, formerly of the Western Belle. She cost upwards of $40,000. The Devon, a three master, was launched by Kelley Spear & Co. She is owned by the Staples Coal company of Taunton, Mass., is 667 tons net and cost $5,000.

It is reported tobacco smuggling has been carried on between Montreal, Boston and New York for many months. The tobacco comprising Sumatra and Havana leaf, upon which the duty is $1.50 a pound, is purchased from Montreal firms and carried over the border in fifty pound packages on railway tricycles to Rouse's Point twice each night. At Rouse's Point the tobacco is forwarded to Boston and New York. Warrants are out for the arrest of the smugglers.

Amaranth Tent, No. 2, Knights of the Maccabees, will hold its regular review

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Willimantic Bank Dividend

WILLIMANTIC, August 27 - The receiver of the First National bank to-day declared a dividend of fifteen per cent on all deposits.

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WILLIMANTIC, Conn.-Receiver Dooley of the defunct First National bank has given out the information that Comptroller Eckels has ordered a first dividend of 15 per cent to be paid to the depositors. This payment will amount to nearly $50,000.

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THE WILLIMANTIC SCANDALS

STATE ATTORNEY HUNTER TO EXAMINE THE NATCHAUG SILK COMPANY'S BOOKS. Willimantic, Conn., Sept. 11.-State Attorney John L. Hunter made application to the Superior Court in Windham County to-day for an order to examine the books and papers of the Natchaug Silk Company. His application contained the assertion that the stockholders of the company had reason to believe that certain crimes had been committed by the officers and employes of the company, which the books would disclose. Judge Wheeler ordered James E. Hayden, receiver of the company, to allow Mr. Hunter and his agents to have full access to all books and papers of the company, and also to disclose to the State-Attorney any information he might have as to the commission of any crime by the officers and employes of the company. When the expert accountant finished his examination of the books of this company some time ago, it is alleged, he gave the receiver to understand that he had found evidence which would incriminate persons connected with the office. Fred Barrows was bookkeeper for the concern and J. D. Chaffee president. After the death of O. H. P. Risley, and when the affairs of the First National Bank were found in such a condition as to warrant the closing of its doors, the prevailing opinion was that a great deal of the bank's money had gone into the Natchaug Silk Company.

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ATTACHMENT SERVED

Colonel Chaffee's Property at Willimantic for $25,000. Willimantic, Sept. 18.-The residence of Colonel J. D. Chaffee, late president and general manager of the wrecked Natchaug Silk company, also the mill at the corner of Church and Valley streets owned by him and now occupied by ex-Representative J. S. McFarlane for silk manufacturing, were attached by Sheriff Pomeroy this morning for $25,000 on behalf of Receiver Dooley of the First National bank. The suit is returnable to the next term of the superior court.

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Receiver Dooley of the First National Bank of Willimantic has settled with the estate of the late Stephen C. Risley of Rockville, father of Cashier Risley, the deceased defaulter of the First National Bank, Mr. Risley, with Messrs. Fowler and Walden of Willimantic, both of whom are now insolvent, were on the cashier's bonds. The bank receives $5,000 in settlement of Risley's liability on the bond.

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Embezzler's Bondsman Settles Up

WILLIMANTIC, Conn., Nov. 26.-The affairs of the late Cashier O. H. K. Risley, of the First National bank, were brought into public notice again yesterday by the settlement made by Major A. T. Fowler with Receiver Dooley. He paid $6,000, of which $5,000 was his security on the bond of $20,000 of the late cashier, and $1,000 as his entire assessment on the bank stock. The proceedings against him will now be withdrawn.

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Mr. Fowler Paid Over The $6,000. WILLIMANTIC, Ct., Nov. 29-A. F. Fowler this morning paid receiver Michael F Dooley $6 000 in sett.ement of his account with the First National bank. $5.000 as a bondsman for the late cashier Risley, and $1,000 as assessment on the bank's stock held by him. Mr. Dooley had previously been unable to effect a settlement, and the proceedings will now be quashed.

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Receiver Dooley, acting under the instructions of the comptroller of the currency, has declared a dividend of 10 per cent. to the creditors of the First National Bank of Willimantic. The dividend will be paid as soon as the schedule can be prepared and the checks made out. This is the second dividend declared since the failure of the bank, making 25 per cent. in all, the previous dividend having been 15 per cent.

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Willimantic National Bank Claims

Willimantic, Conn., April 7.-Receiver Dooley of the First National bank has filed the bank's claim against the insolvent Natchaug Silk company claims for money had and received, $327,926, less notes assigned to Pangburn, New York, $67,594, making a total of $260,332, with interest. The bank claims $44,500 on Natchaug stock and notes in the bank. John A. Pangburn claims. $67, 594 on notes. Claims close to-day.

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Willimantic National Bank Claims

Willimantic, Conn., April 7.-Receiver Dooley of the First National bank has filed the bank's claim against the insolvent Natchaug Silk company claims for money had and received, $327,926, less notes assigned to Pangburn, New York, $67,594, making a total of $260,332, with interest. The bank claims $44,500 on Natchaug stock and notes in the bank. John A. Pangburn claims. $67, 594 on notes. Claims close to-day.