Article Text
VAST FORGERIES EXPOSED. Losses to Depositors in Chariton Bank Will Be Heavy. Chariton.-Not only did the late cashier, F. R. Crocker, of the failed First National bank, abstract and speculate with its funds, but it has been disclosed that he made false entries in its books and perpetrated systematic forgeris to such an extent that it will be impossible for weeks to determne how much, if anything, the bank's depositors will receive. Moreover, the belief is growing that Crocker's alleged surety bond to the Modern Woodmen of America to protect $250,000 of its funds loaned to him. was a forgery in part at least. The first report of the receiver of the defunct bank has not been made public in Chariton as yet, but it is in possession of the controller of the currency at Washington, who made known the above important facts in a letter to a depositors says it is impossible now to determine how much the depositors will receive but adds that the depositors will not be paid in full and that their loss will be very heavy. For some days there have been rumors that the bond furnished to the Modern Woodmen of America to secure the $350,000 loaned to Crocker is of a doubtful character. Head Banker McNider of Mason City has the instrument in his possession, but he has thus far refused to make public the names of the signers, Some of the men who are accredited with signing the bond declare that their signatures are not genuine; still others declare that though they were on Crocker's bond during his term of head banker, they did not stand surety for his subsequent relationship with the Modern Woodmen. A few have seen the instrument in Head Banker McNider's possession, and they also cast doubt upon its character. In any event enough is known to justify the scatement that there will be a fight in the courts if the Woodmen undertake to collect from the alleged guarantors. Much Interest is taken here in the news that Mrs. Mallory and the Thayers, the real backers and owners of the bank, are on their way home from their foreign trip. They are returning from the Mediterranean on the same steamer that took them there, and they arrive in Chariton late this month. The Bank of Lacona at Lacona, which had $20.000 of its deposits in the First National bank here. is in the hands of a receiver. Willard Beem of this city having been placed in charge. Mr. Beem was until a year or so ago assistant cashier of the First National. This institution is expected to pay out. In connection with the affairs of the Russell bank, which was owned by Crocker and Brandon, Mr. Brandon has declared that he will use his personal fortune to make good its losses. This bank has good resources of $56,000: its deposits amounted to $110.000. $60,000 of which had been loaned to the First National bank.
