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A REMARKABLE STORY OF "FRENZIED FINANC dictments were also returned Ulysses S. Lybarger, former ca the Gambier Banking compa Claude N. Wyant, at one time Revealed In Connection With The head of Kenyon Military Acade at the present time the princi school for boys at South Bet Pennsylvania. The indictment against th Gambier Savings Bank men is a result of the mismana of the affairs of the old Gamb ings Bank Co., later taken the Gambier Banking Co. Hills, Lybarger and Wyant dicted jointly "for procuring Involving Harry N. Hills, U. S. Lynatures as makers of a pro note by false pretenses with i defraud." The said note was in the barger And Claude N. Wyant $20,000, executed on February and was from George W. Por now deceased, and his wife ) Porterfield. In the year 1899, Harry N then one of the most influent Resulting In Indictment Of The zens of Gambier, at the head court Place Seminary, intere Kenyon Military Academy, o Three By Knox Co. Grand Jury large real estate holdings, and S. Lybarger, one of the well men of the village, solicited fu tered into the private bankir ness and secured quite a larg ber of depositors. Mr. Hills For Procuring Signature To A Note president of the bank and Mr. ger was the cashier. About this time Mr. Hills interested in a large number o By False Pretenses enterprises, which required c able capital. He operated "H Farm," which was noted for stock, the owner paying as $700 for certain breed of hogs enterprises occupied Mr. Hil Nine Separate Indictments Returned tention and his money was lar vested. On February 21, 1905, sult of such investment, the tion is made, that M. Hills's Against Former Cashier Lybarger account in the Gambier Saving was overdrawn $20,090.72. It is claimed that about th the fact developed that a cha some kind was necessary ai Hills Arrested At Cincinnati And Lyprior to this date Mr. Hills le bier rather suddenly and re away for an indefinite period In the meantime the Gambi barger At Gambier ings Bank was operating with president, so it was decide Claude N. Wyant should be ca as a sort of "nominal presiden cordingly Mr. Wyant took Mr. place and it is said represente Sensational Disclosures Brought Out citizens of Gambier that the ba a safe and sound institution. I ant was one of the well kno In The Transactions Of most influential citizens of the and his assuming charge of th ailayed all fears and prevente on the bank, which seemed If about the time Hills sudder Hills And Lybarger town. However, Mr. Hills returned hier along in February, 1905 a posed to his partner, Lybarger The secret indictments, which were returned by the new institution be formed and grand jury of the November term of common pleas court, Gambier Savings Bank Comp turned over to the new institu on Friday, were made public on Saturday when Harry N. Before any steps were take Hills, a former prominent citizen of Gambier, was arrested ever, towards the organizatio new banking company, George in Cincinnati by Sheriff P. J. Parker of Knox county. terfield, a well-to-do-farmer o Sheriff Parker arrived in Mt. Vernon Saturday county, was taken in as a par night with Mr. Hills. the old banking company and agreed that Mr. Porterfield wo In addition to the indictment returned against Mr. his note for $20,000, as both H Hills, the report of the grand jury also shows that one inLybarger represented that th was solvent and was a payin dictment was returned against Claude N. Wyant, formerly ing institution. of Gambier, but now a resident of South Bethlehem, Pa., The assets of the Gambier Bank on February 21, 1905, we and that nine indictments were returned against Ulysses 777.91, and the liabilities, as S. Lybarger, of Gambier. sented by Hills and Lybarge Deputy Sheriff John Woolison went to Gambier Sat$97,645.31. In order to bring the asset urday afternoon to arrest Mr. Lybarger. the liabilities and to make Mr. Wyant will not be apprehended at the present showing before the old bar turned over to the promoters time for the reason that he is conducting a school for boys new institution, it is alleged th in Pennsylvania. He will be arrested later. and Lybarger secured this note 000 from Porterfield. The story in connection with the indictments against This additional $20,000, obta the three men is most sensational and is one of "frenzied false pretenses, SO it is claime finance." the finances of the old bank showing and on February 21, 1 It has to do with the organization of the Gambier SavGambier Banking Company ings Bank Co., by Hills and Lybarger, the taking over of corporated under the laws o with the following directors: the bank by the Gambier Banking Co., the alleged misW. Jones, George W. Porter representations by Hills, Lybarger and Wyant, and the alP. Webster, J. P. Thompson Wyant and U. S. Lybarger, and leged fraudulent acts of each, and the final closing of the date the new institution did ta Gambier institution by the state department of banks. and assume the assets and li This interesting story also goes into the affairs of the of the Gambier Savings Bar pany. defunct Dime Savings Bank of Mt. Vernon and of the alTo go back a little, it is alle leged method employed by Harry N. Hills in selling Coxey when Porterfield was taken bonds to the sum of $100.000 in order to secure his com Savin
