National City Bank (Cambridge, MA)

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Episode Information

Episode UID
77001322
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
7700 national
Charter Number
770
Start Date
February 23, 1910
Location
Cambridge, Massachusetts (42.376, -71.118)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5dbf93b9d339153e

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1910-02-23
Date receivership terminated
1920-12-16
OCC cause of failure
Fraud
Share of assets assessed as good
82.3%
Share of assets assessed as doubtful
17.6%
Share of assets assessed as worthless
0.1%

Events (4)
1. January 31, 1865 Chartered
Source
historical_nic
2. February 23, 1910 Receivership
Source
historical_nic
3. February 23, 1910 Receivership
Newspaper Excerpt
National Bank Examiner Ellis S. Pepper was appointed temporary receiver. ... Comptroller Murray will appoint a receiver. Former Gov. John L. Bates, the receiver, will liquidate the remaining assets.
Source
newspapers
4. February 23, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of an internal defalcation/embezzlement of about $144,000 that wiped out capital and surplus, rendering the bank insolvent
Newspaper Excerpt
Because a shortage said to be $144,000 was discovered in the accounts of the National City bank of Cambridge, that institution was closed today by order of the comptroller of the currency
Source
newspapers

Newspaper Articles (20)
1. February 23, 1910 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, February 23, 1910

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Pioneer Roofings. Sold, laid and guaranteed by LAMBERT PAPER CO. NATIONAL CITY BANK OF CAMBRIDGE CLOSED Shortage of $144,000 Discovered; Geo. W. Coleman. Bookkeeper. Gone: Receiver Is Appointed. Boston, Feb, 23.-Because a shortage said to be $144,000 was discovered in the accounts of the National City bank of Cambridge, that institution was closed today by order of the comptroller of the currency and National Bank Examiner Ellis S. Pepper was appointed temporary receiver. George W. Coleman, bookkeeper of the bank, has been absent from Cambridge for several days. The last heard from Coleman he was in Kansas City. MAN RESPONSIBLE. Washington, Feb. 23.-A shortage of $144,000 in the individual deposits caused the closing of the doors of the National City bank of Cambridge, according to information received by the comptroller of the currency. 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.

2. February 23, 1910 The Wenatchee Daily World Wenatchee, WA
Article from The Wenatchee Daily World, February 23, 1910

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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.

3. February 24, 1910 The Daily Missoulian Missoula, MT
Article from The Daily Missoulian, February 24, 1910

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EXAMINER CLOSES LOOTED BANK WARRANT IS SWORN OUT FOR BOSTON BOOKKEEPER, WHO IS MISSING. Boston, Feb. 23.-Following the discovery that the National City bank of Cambridge has been looted of $144,000, the institution was closed today, 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 from in Kansas City a few days ago. Coleman is charged with embezzlement. The institution 18 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. Bank oficials suspected that Coleman's accounts might to incorrect last Thursday and requested Mr Pepper to go over the books. On Friday Coleman fled, and Monday night friends received a telegram from him dated Kansas City, Mo. This said he The would be home tomorrow. wrecked bank carried deposits of $127. 432., mostly the money of small tradesmen. It was organized in 1853. Among the stockholders is Charles W. Eliot, president emeritus of Harvard university, Under the national banking laws the steckholders are liable to assessment if the assets are not sufficient to pay the creditors in full. Bookkeeper Coleman is 27 years old, and is the son of a prominent Cambridge business man. He is unmarried. Coleman is treasurer of the Boston branch of the Kissel Kar company, a St. Louis automobile concern. He maintained two touring cars and a kennel of dogs and was regarded as a "liberal spender."

4. February 24, 1910 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, February 24, 1910

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WAS LIBERAL IN SPENDING Clerk in Cambridge Bank Had Two Automobiles AND A KENNEL OF DOGS Police Are Now Looking for Him to Answer Charge of Wrecking the National City Bank of Cambridge, Mass. Boston, Feb. 24.-Six hours after the closing of the National City Bank of Cambridge by National Bank Examiner Ellis S. Pepper yesterday, a warrant was issued for the arrest of 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 embezzling the funds of the bank. The institution is insolvent, the capital stock of $100,000 and the surplus having been wiped out by the defalcation. Late yesterday afternoon, the comp. troller of the currency appointed former Gov. John L. Bates of this city receiver, and he will liquidate the remaining assets, if a trust company does not take them over, as was thought possible last night. The bank officials suspected that Coleman's accounts might be incorrect last Thursday and requested Mr. Pepper to go over the books. On Friday Coleman, who had learned what was "in the wind," fled from Cambridge. Monday night friends received a telegram from him, dated Kansas City, Mo., stating that he would be home to-day. The wrecked bank carried deposits of $127,432. mostly the money of small tradesmen. It was organized in 1853, and at one time was prosperous, but for several years its business has been declining, because of the keen competition of trust companies, Under the national banking laws, the stockholders are liable to assessment, if the assets are not sufficient to pay the creditors in full. Bookkeeper Coleman is 27 years of age and is the son of a prominent Cambridge business man. He is unmarried. Coleman is treasurer of the Boston branch of the Kissel Car company, a St. Louis automobile concern. So far as known, the company has lost nothing. Coleman maintained two touring cars and a kennel of dogs and was regarded as a "liberal spender."

5. February 24, 1910 The Evening Statesman Walla Walla, WA
Article from The Evening Statesman, February 24, 1910

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Loots BankGets, Cash BOSTON, Feb. 23.-Following the discovery that the National City bank of Cambridge had been footed of $144,000, the institution was closed today probably forever, by National Bank Examiner Pepper, acting on behalf of the controller of the currency. Later a warrant was issued for the arrest of George W. Coleman, a 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. Bank officials suspected that Coleman's accounts might be incorrect last Thursday and requested Mr. Pepper. to go over the books. On Friday Coleman fled, and Monday night his friends réceived a telegram from him that he would be home tomorrow. The wrecked bank carried deposits of $127,432, mostly the money of small tradesmen. It was organized in 1853. Among the stockholders is C. I. Eliot, president emeritus of Harvard university. Under the national banking laws the stockho ders are liable to assessment if the assets are not sufficient to pay the creditors in full. Bookkeeper Coleman is 27 years of age and is the son of a prominent Cambridge business man. He is unmarried. Coleman is treasurer of the Boston branch of the Kissel Car eompany, a St. Louis automobile concern. He maintained two touring cars and a kennel of dogs and was regarded as a "liberal spender."

6. February 25, 1910 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, February 25, 1910

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RECEIVED $12 A WEEK, CLERK STOLE $114,000 Gov. 24.-Former Feb. John Boston, L. Bates, receiver, was today in charge of the affairs of the National City bank of Cambridge, which was closed yesterday by the comptroller of the currency on the discovery of a shortage of $144,000. Coleman, the young bookkeeper of the bank. who is said to be in the west, kept a private account at the bank and another as the treasurer of the Boston branch of the Kissel Kar, company. of which he was the manager. It is said he would give his checks for considerable amounts, which were cashed at outside banks. As he handled the mail and clearing house correspondence, the checks came back to him from the clearing house and he was able to destroy them. The amounts, it is claimed. were then checked up against the accounts of some of the heavy depositors of the bank, the correct statement being sent to the clearing house, but the drafts not showing on the statements to depositors victimized or in the statement given the bank officials at the close of the day's business. Coleman, as bookkeeper of the bank, received a salary of $12 a week. His family, however, is in good circumstances and It was generally supposed that he received an allowance from his father.

7. February 26, 1910 Evening Star Washington, DC
Article from Evening Star, February 26, 1910

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tonight at 8: Congressman Bennet of New York will speak on Sunday at 8 p.m.; gospel services daily, 12 m. and 7:30 p.m.; Sundays, 3 p.m. WEEK ENDING FEBRUARY 26,'10 President Taft withdrew his nominations for the new customs court because Congress would not pay $10,000 salaries; the President announced that the five measures which he considered should be passed at the present session of Congress in order to redeem party pledges were postal savings banks, interstate commerce law amendments, conservation, anti-injunction and statehood for Arizona and New Mexico. The United States Supreme Court handed down more than fifty decisions, several of them being in important railroad cases. Secretary Meyer will call for the building of two twenty-eightthousand-ton battleships, the largest in the world. Mr. Aldrich declared $300,000,000 could be saved by a more businesslike administration of the government. Chairman Elkins reported to the Senate, without conference, the Taft-Wickersham bill to amend the interstate commerce laws. An appropriation of $125,000 for the immigration commission was voted in the urgent deficiency bill by the House; the Indian appropriation bill and the Sherley bankruptcy bill, which defines the limits of the present law and reduces the compensation of receivers, were passed; the House took up the Post Office appropriation bill. Le Roy Percy was elected United States senator in Mississippi. Philadelphia's trolley strike caused rioting in many parts of the city, and hundreds of arrests were made. The National City Bank of Cambridge, Mass., was forced to close its doors because of the alleged embezzlement of $144,000 by George W. Coleman, the bookkeeper of the institution. J. P. Morgan gave a $30,000 collection of Indian relics to the American Museum of Natural History. Fifteen persons, two so seriously that they may die, were burned in an incendiary blaze in a New York tenement. Foreign Affairs. Premier Asquith completed his cabinet; parliament was formally opened by King Edward; the Irish refused to support Mr. Asquith's program, and another general election is feared within a few months; the first division disclosed a majority of thirty-one for the government, against tariff reform: the Irish members abstained from voting. The Moroccan envoy in Paris announced to the French minister of foreign affairs that the sultan had ratified the agreement between the two governments. France sends a cruiser to the Island of Guadeloupe, where a strike of cane sugar workers is In progress, to restore order. Senator Millies-Lacroix wounded Senator Lintilhac in a duel in Paris, and the men were then reconciled. France and England urged China to respect the wishes of Russia and Japan regarding the Chin-Chow and Aigun railway,Former Vice President Fairbanks occupied the pulpit in a Berlin church. Boutros Pacha Ghali, Egyptian premier and minister of foreign affairs, died from the effects of a bullet wound inflicted by a nationalist student. Twenty-three people were killed by an avalanche which ingulfed an Icelandic village. Gen. Toledo, the Nicaraguan minister of war, announced that the government forces had defeated the insurgents, under Gen. Chamorro, at Tisma. A widespread revolutionary plot was discovered in Portugal. In the District. Agreeing with general sentiment that the federal buildings in the National Capital should stretch along the south side of Pennsylvania åvenue, the Senate committee on public buildings and grounds ordered a favorable report on Senator Heyburn's bill appropriating $10,000,000 for the purchase of the property between Pennsylvania avenue and the Mall. An appropriation of $1,000,000 for the improvement of the Anacostia flats was proposed by Senator Gallinger. The Commis sioners of the District reported favorably the bill to regulate the practice of osteopathy. Assistant Secretary Norton of the Treasury Department issued a statement saying that about 200 employes of the department will lose their positions about July 1. Charles C. Rogers, collector of tax S, issued 2,000 copies of a book containing the lists of real estate in the District on which taxes are overdue. The Society of Sponsors of the United States Navy held its third annual meeting. The Better Washington Association, composed of public spirited womon furt

8. March 4, 1910 Dakota Farmers' Leader Canton, SD
Article from Dakota Farmers' Leader, March 4, 1910

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ROBBED BANK IS CLOSED. Former Harvard President Stockholder in Looted Institution. Following the discovery that the National City Bank of Cambridge, Mass., had been looted of $144,000, the doors of the institution were closed, probably forever, by National Bank Examiner Ellis S. Pepper, acting in behalf of the Comptroller of the Currency. Six hours after this action had been taken an embezzlement warrant was issued for the arrest of George W. Coleman, the young bookkeeper of the bank, who was last heard from in Kansas City a few days ago. The institution is insolvent, the capital stock of $100,000 and the surplus having been wiped out by the defalcation. John D. Bates was appointed receiver. Among the stockholders is Charles W. Eliot, president emeritus of Harvard. Under the national banking laws the stockholders are liable to assessment if the assets are not sufficient to pay the creditors in full.

9. March 4, 1910 The Farmville Herald Farmville, VA
Article from The Farmville Herald, March 4, 1910

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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.

10. March 5, 1910 The Tacoma Times Tacoma, WA
Article from The Tacoma Times, March 5, 1910

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BOOKKEEPER ROBBED BANK OF $144,000 GRADUALLY BOSTON, March 5.-Because a the effect that he was in Kansas shortage, said to be $144,000, was City. Steps have been taken by discovered in the accounts of the the federal authorities to apprehend him. National City Bank of Cambridge that institution was closed today The missing bookkeepr is the 1 by order of the comptroller of the son of a prominent business man, currency, and John L. Bates, forand his friends have always had mer governor of Massachusetts, the impression that a paternal alwas appointed receiver. lowance enabled him to live in a George W. Coleman, bookkeeper style in excess of that permitted r of the bank, has been absent from by a bank employe's salary. He is Cambridge for several days. The less than 30 years old. A warlast heard from Coleman was to rant is out foi his arrest.

11. March 6, 1910 Evening Star Washington, DC
Article from Evening Star, March 6, 1910

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BANK WRECK INQUIRY. Two Grand Juries Investigating $150,000 Shortage. BOSTON, Mass., March 5.-Separate investigations by the federal and Suffolk county grand juries into the wrecking of the National City Bank of Cambridge are promised for next week. United States District Attorney French is said to have received evidence that George W. Coleman, the twelve-dollar-a-week bookkeeper of the bank, was a victim of swindlers known as the faro gang, and he will present the evidence before the federal grand jury. There is a probability, according to federal officers, that indictments may be obtained against the gamblers. Another investigation of the operations of Boston gamblers has been begun by District Attorney Pelletier of Suffolk county and bids fair to reach the county grand jury next week. Former Gov. John L. Bates, receiver of the National City Bank, said tonight that he hopes to have his examination completed so that he may make a report by the middle of the coming week. The estimated shortage, so far as made public, is in the neighborhood of $150,000.

12. March 11, 1910 Evening Star Washington, DC
Article from Evening Star, March 11, 1910

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# BANK MUCH TO BLAME # FOR BIG DEFALCATION 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.

13. April 22, 1910 The Penn's Grove Record Penns Grove, NJ
Article from The Penn's Grove Record, April 22, 1910

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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.

14. April 28, 1910 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, April 28, 1910

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# COLEMAN AND BIG # BILL KELIHER INDICTED 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.

15. May 28, 1910 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, May 28, 1910

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# Money Had No Value for Coleman. 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.

16. November 4, 1910 New-York Tribune New York, NY
Article from New-York Tribune, November 4, 1910

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HOLD DIRECTORS NEGLIGENT Receiver Wants Five to Make Up Coleman Deficit. Boston, Nov. 3.-There is a deficit of $120.000 in the funds of the National City Bank of Cambridge, caused by the defalcation of its bookkeeper, George W. Coleman, which Receiver John L. Bates has asked the United States courts to collect from five directors, on the ground that they were negligent in the discharge of their duties. The Controller of the Currency finds that two other directors, Charles G. Bancroft and Josiah H. Goddard, who were elected just before the bank's failure, had no opportunity to examine the accounts, and therefore are not liable. A bill of equity was filed in the circuit court to-day praying that the court order President Edwin Dresser, of Cambridge; David A. Barber, of Cambridge: George W. Gale and Summer Dresser, of Brookline, and George E. Richardson, of Waltham, to make up the remainder of the liabilities, 60 per cent of the amount due depositors having been collected from the assets and by an assessment of 100 per cent on the stockholders. Receiver Bates finds, according to the bill in equity, that the directors for the two years preceding the defalcation. utterly neglected to examine the accounts of the bank and made no effort to investigate the shrinkage in deposits. For this alleged gross negligence the receiver asks the court to order an inquiry and an accounting as to the losses. The bank closed its doors on February 23, 1910, after Coleman had fled to Kansas City, Mo. He reappeared a week later, and after a sensational trial last spring was sent to the Greenfield jail for fifteen years.

17. November 4, 1910 The Sun New York, NY
Article from The Sun, November 4, 1910

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ACCUSES BANK OFFICIALS. Receiver Seeks to Recover $307,000 Lost Through Alleged Negligence. BOSTON. Nov. 3. Former Governor John L. Bates. receiver of the National City Bank of Cambridge. filed a bill in equity in the United States Circuit Court to-day 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 President Edwin Dresser of Cambridge and Directors David A. Barber of Cambridge. George W Gale and Sumner Dresser of Wellealey are charged with negligence in not properly supervising the accounts and money of the bank It is sought to recover the money lost in the defalcation from the bank officers named Receiver Bates charges that for more than two years before the bank suspended they utterly neglected to make any sufficient examination of the affairs of the bank and neglected to exercise any effective oversight whatsoever over the bookkeeping department or the employees and that in the whole of 1909 they caused no examination or audit to be made of the bank This negligence enabled Coleman to steal $307,000 Except in the matter of loans Mr Bates alleges that they were mere figureheads, and be asks for an accounting and an in. quiry under the direction of the court as to all losses sustained by the bank, its creditors and stockholders and asks for a decree requiring the defendants to pay the receiver all sums for which they may be held responsible

18. October 10, 1911 New-York Tribune New York, NY
Article from New-York Tribune, October 10, 1911

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TO HEAR CAMBRIDGE BANK CASE. 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

19. October 10, 1911 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, October 10, 1911

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CONDENSED DISPATCHES. 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.

20. January 2, 1912 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, January 2, 1912

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GEORGE W. 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.