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SHORTAGE IS FOUND IN BANK'S Cashier of Depository and Former Mayor of Kentucky Town Confesses. Ludlow, April Doors of the Farmers and chanics bank of this city closed today, because and the funds of the bank, formal board of cashier of the and former mayor Ludlow, have confessed that short accounts.
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SHORTAGE BANK Agrees To Turn Over His 900 Acre Farm To InstiDoors of Which tution, Are Closed. Ludlow, Ky., April 10 (AP)-The doors of the Farmers and Mechanics bank of Ludlow, were closed today following an admission by its cashier, W. Balsly, that he $30,000 to short in his accounts, Stricklett, city solicitor of Covington, Ky., and vice president of the bank, said Balsley had informed him of the shortage and assumed full responsibility. The cashier did not say how the money was spent, but promised to turn over all his property to the bank to make restitution, according to Stricklett. Has 900 Acre Farm This consists of 900 acre and town lots Ludlow. Stricklett estimated the value of the farm at $50,000 which (Continued on Page Six)
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CASHIER. SHORT FUNDS. COMMITS SUICIDE LUDLOW. Ky., W. cashier the Farmers and Mechanics Bank. which closed its doors Saturday after Balsey confessed short in his accounts shot and killed himself downtown garage here today. He had been liberty under bond pending an examination of his ledgers.
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BY HIS OWN HAND After Admitting Shortage in Accounts, Banker Goes to Room and Ends Life. (By the Associated Ludlow, Ky., Thomas Balsly, cashier the Farmers and chanics bank this city, that he was $30,000 short in his accounts, shot and killed himself when in the basement of the bank Balsly alone in the the time. Examination of the books disclosed shortage of the accounts of Balsly, last night. The bank closed its doors day morning when the cashier mitted to one of the officials that or short. Balsly at the time says the shortcaused principally by bad He deeded his to the bank property and Mrs Wm. Dingman speat Kansas City their and family.
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City Brevities Shanks and Phillips, both state bank terday rounte the capital from inspection trip, Mr. Shanks and Phillips conducted the of bank Ludlow that was ordered closed when the cashier admitted shortin his accounts. Joseph Bailey, former United from Texas and now in Washing. ton, in Lexington night for visit of several to inspect his thoroughbred horses which are quartered Fayette county farm which purchased. Bailey will probably remain for opening days of the meeting. the owner broodmares and the stallion Pataud. W. H. Phillips, patrol judge the race tracks Kentucky arrived Lexington night from Huntington, where he had been serving an official the race meeting conducted there. The remainder the was called when fire destroyed grandstands. Judge Phillips staying at the Phoenix hotel. Prof. Ligon, principal of the High left yesterday for Louisville for the meeting the Kentucky Educational Assoclation, of which he president. Mrs. Margaret Grasty, secretary Professor Ligon, and other members the office staff will leave morning take the placement service bureau equipment to Louisville, be set there during the up meeting of the association.