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BOOK-KEEPER TOOK FUNDS THE MASSACHUSETTS NATIONAL BANK WENT INTO HANDS OF A RECEIVER - SHORTAGE IS PLACED AT $144,000. Boston, Mass., Feb. 23.-The National City bank of Cambridge closed its doors today by order of the comptroller of currency at Washington. The bank examiner is now in charge.
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BANK CLOSED BY SHORTAGE Bookkeeper Gets Away With $144,000 of the Funds Boston, Feb. 23.-Because a shortage, said to be $144,000, was discovered in the accounts of National City Bank of Cambridge, that institution was closed today by order of the comptroller of the currency and Bank Examiner Ellis S. Pepper was appointed temporary receiver. G. W. Coleman is the name given at the office of the comptroller of the currency as the bookkeeper of the National City Bank of Cambridge. whose defalcation caused the closing of the institution. He has fled. His shortage more than wipes out the capital stock of $100,000 and the surplus and undivided profits amounting to $39,450, thus making the bank insolvent, The deposits amount to $128,432, and the loans and discounts $208,625. Comptroller Murray will appoint a receiver.
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Cambridge, Mass., Feb. 23.-The National City Bank has been closed because of a shortage of $144,000 of deposits. dute to the defalcations of the bookkeeper. John L. Bates, former governor, has been appointed receiver,
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Dr. Charles W. Eliot Shareholder in Wrecked Institution. Cambridge, Mass., Feb. 24.-The directors of the National City bank here announced that the bank had been looted of $144,000 and the closing of the institution followed by order of the comptroller of the currency. Former Governor John L. Bates was appointed receiver to wind up the bank's affairs. and a warrant was sworn out for the arrest of George W. Coleman, bookkeeper of the bank, who has disappeared. The amount of the shortage exceeds the capital stock of $100,000, a surplus of $32,500 and undivided profits of $6,950. SO that the institution is insolvent and will have to be wound up. The deposits amounted to $127,500. Dr. Charles W. Eliot. former head of Harvard university, owns ten shares of stock in the bank and is liable for part of the loss.
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The Comptroller of the Currency yesterday assigned National Bank Examiner Samuel M. Hann, of Baltimore, to go to Cambridge, Mass., and make a careful examination of the books of the National City Bank, now in the hands of a receiver because of the defalcation of its bookkeeper.
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High Flying Bookkeeper Said to Have Taken $144,000. Boston.-Following the discovery that the National City Bank of Cambridge, has been looted of $144,000. the doors of the institution were closed, probably forever, by National Bank Examiner Pepper, acting on behalf of t comptroller of the currency. Later a warrant was issued for George W. Coleman, the young bookkeeper of the bank, who was last heard from in Kansas City a few days ago. Coleman is charged with embezzlement. The institution is insolvent, the capital stock of $100,000 and the surplus having been wiped out by the defalcation. Former Governor John L. Bates, the receiver, will liquidate the remaining assets.
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Bank Looted of $144,000. The comptroller of the currency closed the National City bank. of Cambridge, Mass. when a shortage of $141,000 was discovered, and Ellis S. Pepper. a rational bank examiner, was appointed temporary receiver. George W. Coleman, bookkeeper of the bank has been absent from Cambridge for several days. The last heard from Coleman was to the effect that he was in Kansas City.
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Loots Bank of $144,000, Causing Suspension of Business. Boston.-Following the discovery that the Nat'l City Bank of Cambridge had been looted of $144,000. the institution was closed on Wednesday, probably forever, by National Bank Examiner Pepper, acting on behalf of the comptroller of the currency. Later a warrant was issued for the arrest of George W. Coleman, a young bookkeeper of the bank, who was last heard of in Kansas City a few days ago. Coleman is charged with embezzlement. The institution is insolvent, the capital stock of $100,000 and the surplus having been wiped out by the defalcation. Former Governor John L. Bates, the receiver, will liquidate the remaining assets.
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Loots Bank of $144,000, Causing Suspension of Business. Boston.-Following the discovery that the Nat'l City Bank of Cambridge had been looted of $144,000, the institution was closed on Wednesday, probably forever, by National Bank Examiner Pepper, acting on behalf of the comptroller of the currency. Later a warrant was issued for the arrest of George W. Coleman, a young bookkeeper of the bank, who was last heard of in Kansas City a few days ago. Coleman is charged with embezzlement. The institution is insolvent, the capital stock of $100,000 and the surplus having been wiped out by the defalcation. Former Governor John L. Bates, the receiver, will liquidate the remaining assets.
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Bank Looted of $144,000. The comptroller of the currency closed the National City bank, of Cambridge, Mass., when a shortage of $141,000 was discovered, and Ellis S. Pepper, a national bank examiner, was appointed temporary receiver. George W. Coleman, bookkeeper of the bank, has been absent from Cambridge for several days. The last heard from Coleman was to the effect that he was in Kansas City.
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Ordinary Diligence Would Have Discovered Cambridge Fraud, Declares Examiner Hann.
"Palpable and glaring," is the characterization by National Bank Examiner Hann of the fraud committed on the National City Bank of Cambridge, Mass., whose bookkeeper, George W. Colman, defaulted for about $150,000.
The defalcation, he says, could have been discovered by ordinary diligence if the plain instructions of the controller of the currency had been followed.
Mr. Hann examined the bank, at the direction of the controller of the currency, with a view to determining whether previous examinations should have disclosed its condition preceding the announcement of the shortage in the individual deposits. The information thus gathered was turned over to the Department of Justice, and resulted in the arrest of one W. W. Lockhart, who, it is alleged, aided and abetted Coleman.
Ellis S. Pepper, the bank examiner who made an examination of the institution in December, is under suspension. His was the last examination made previously to the closing of the bank. Who Lockhart is is not known here.
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Bank Looted For $309,000.
A report by the receiver of the National City Bank of Cambridge, Mass. showed that the total shortage will reach $309,000. It was looted from the inside by trusted officials.
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On Fifteen Counts Each by Jury-Two New Bills Were Returned by the Jury.
Boston, April 28.-Additional indict- ments in the grand jury investigation of the closed National City bank of Cambridge were returned yesterday against George W. Coleman, the book- keeper and William J. Kelliher of Bos- ton, through whom Coleman says he lost the greater of the $250,000, trying to break a faro bank. Coleman was reindicted in 10 counts for misapplying $49,000 of the funds of the bank by means of checks made out to J. Thomas Reinhardt & company, of this city and New York. Kelliher, who was arrest- ed on a court warrant Friday last and released Tuesday in $25,000 bail, was indicted for aiding and abetting Cole- man in the misapplication of the funds of the bank. Coleman's trial has been set for May 10, but no date was as yet been assigned for the Kelliher trial.
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Boston, May 27.-Today's session of the trial of William J. Keliher, charged with assisting Geo. W. Coleman in misapplying the funds of the National City Bank of Cambridge, was short but the two hours were sufficient for Coleman to recite additional details of gay life along the "Great White Way" in New York.
Without a blush Coleman quoted prices paid for entertainment by women in New York and how part of the funds of the depositors went in that direction. The names of half a dozen such women were brought into the trial and Coleman said that the bills frequently ran to $200 or $300 a night and that Keliher paid most of them. The trial will be resumed Tuesday.
Subjected to a merciless cross-examination by Daniel H. Coakley, one of Keliher's attorneys, Coleman told of escapades in New York in which women and wine were foremost and where money was treated as a valueless commodity. Much of the money lost at the faro game disappeared, according to Coleman's story, at the house 122 West 41st street, New York. Miss Mamie Hightower was an inmate of this house, and it was there that Coleman first met her last fall. Under cross-examination today Coleman said that when he left Boston just before the condition of the bank was discovered, he took Miss Hightower with him because he wanted her to be at her own home at Kansas City rather than among strangers in New York. Coleman testified that Keliher generally paid all the bills contracted at this house, although he admitted that on one occasion he himself had signed a check for $275 to pay for her entertainment there.
Coleman also named other houses on West 41st street, where he and Keliher had visited. The object of this phase of the cross-examination was evidently to show that the stolen funds of the National City Bank did not all go to Keliher, but that Coleman's prodigal manner of living was accountable for the bank's suspension.
Coleman stated that he personally played faro to the extent of only $50,000, the rest of the money being lost through Keliher.
Keliher's counsel made an effort to obtain the minutes fothe grand jury, but the district attorney objected and the remainder of the session was spent in somewhat tedious questioning as to what Coleman testified before th grand jury. Just before the close of the session Coleman said that in the beginning he thought that Keliher was a novice at faro.
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BOSTON. Nov. 4.-Former Governor John L. Bates, receiver of the National City Bank, of Cambridge, filed a bill in the United States Circuit Court in equity to recover $307,000, which was the amount of default discovered when the bank was looted by George W. Coleman. a $12-a-week clerk.
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Boston, Nov. 3.-There Is a deficit of $120,000 in the funds of the National Bank of Cambridge, caused by the defalcation or its bookkeeper, George W. Coleman, which Receiver John L. Bates has asked to collect from the five directors on the ground that they were negligent in the discharge of their duties. A bill was filed in the circuit court today. The bank closed Feb. 23, 1909, and Coleman was sent to jail.
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Boston. Oct. 9.-Congressman Robert O. Harris, of Bridgewater. was named as master to-day by Judge Dodge, in the United States Circuit Court, to hear the evidence and report on the suit of John L Bates receiver of the National City Bank of Cambridge, against Edwin Dresser. president, and other officials of the bank The re: ceiver seeks to hold the defendants responsible for the looting of the assets by George a W Coleman, now in Greenfield jail for term of fifteen years
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Escaping gas caused the death Monday at North Adams, Mass., of Lesli White, a Civil War veteran, and hi wife is in a dying condition. The age couple retired Friday night and Saturday afternoon a married daughter found them unconscious. They wer removed to a hospital, where White died Monday. How the gas happene to escape is not known. White was 6 years old. Ten children survive.
Pending the result of the Interstate Commerce Commission's investigation into the general freight rates on wools hides and pelts, Traughtt, Schmidt & Sons, of Detroit, Mich., has institute before the commission a complaint o the rates on wool in grease from Detroit to eastern destinations. The existing rate to Boston is 50 cents a hundred pounds: to New York 45 cents and to Philadelphia 43 cents. Thes rates were attacked as excessive and discriminatory and adjustment was asked.
Announcement was made Monday a New York of the plans for the reorganization of the Southern Iron & Steel Co. and its consolidation with the Alabama Consolidated Coal & Iron Co The new company will acquire the property of both companies subject to about $2,000,000 of underlying bonds or each property. The new company will issue $5,000,000 of 6 per cent. bonds $12,500,000 of 6 per cent. cumulative preferred stock and $12,500,000 of common stock for this purpose and for the raising of $4,130,000 additional cash capital.
Congressman Robert O. Harris, of Bridgewater, Mass., was named a master Monday by Judge Dodge in the United States circuit court in Boston to hear the evidence and report upon the suit of John L. Bates, receiver of the National City Bank of Cambridge against Edwin Dresser, president and other officials of the bank, seeking to hold the defendants responsible for the looting of the assets by George W Coleman, now at Greenfield jail for a term of 15 years.
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COLEMAN A WITNESS Convicted Bank Looter Taken To Boston To-day To Tesify. Boston, Jan. 2.-George W. Coleman, convicted of looting the National City Bank of Cambridge, who is serving sentence at the Greenfield jail, was taken to the courthouse to-day. Coleman was brought here to be a witness in the suit brought by the receiver of the bank, John L. Bates, against President Dresser and the directors of the bank. The receiver seeks to hold the defendants liable for a loss of about $300,000, which was sustained through the misapplication of the funds by Coleman.