8052. National City Bank (Cambridge, MA)

Bank Information

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

Metadata

Model
gpt-5-mini
Short Digest
edb63e22

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%

Description

Comptroller of the Currency closed the National City Bank of Cambridge after discovery of a large internal defalcation by the bookkeeper (George W. Coleman). A receiver was appointed and multiple reports state the bank will not be reopened; later proceedings concern recovery and suits by the receiver. No articles describe depositor runs prior to the suspension.

Events (5)

1. January 31, 1865 Chartered
Source
historical_nic
2. February 23, 1910 Receivership
Source
historical_nic
3. February 23, 1910 Receivership
Newspaper Excerpt
Former Governor 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 tonight. (appointment of receiver after closing).
Source
newspapers
4. February 23, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of a large embezzlement/defalcation by the bank's bookkeeper (George W. Coleman) — reported shortage about $144,000 (later reported larger).
Newspaper Excerpt
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.
Source
newspapers
5. April 22, 1910 Other
Newspaper Excerpt
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.
Source
newspapers

Newspaper Articles (20)

Article from The Ogden Standard, February 23, 1910

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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.


Article from Daily Kennebec Journal, February 24, 1910

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CLERK MISSING. So Is $144,000 of Cambridge Bank's Funds. National City Bank, Looted, In Hands of Receiver. Capital Stock and Surplus Wiped Out by the Defalcation. Boston, Feb. 23.-Following the discovery that the National City Bank of Cambridge had been looted of $144,000, the doors of the institution were closed today, 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, 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 this afternoon the comptroller of the currency appointed Former Governor 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 tonight. 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 at home tomorrow. The wrecked bank carried deposits (Continued On Page Two.)


Article from Burlington Weekly Free Press, February 24, 1910

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INSIDER LOOTS BANK OF $144,000 Cambridge, Mass., Institution Had a Bookkeeper Who Was a "Liberal Spender." Boston. Feb. 23-Following the discovery that the National City bank of Cambridge had been looted of $144,000. the doors of the institution were closed to-day 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. a warrant was issued for the arrest of George W. Coleman, the bookkeeper of the bank. who was last heard from in Kansas City 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 this afternoon. the comptroller of the currency appointed former Gov. John L. Bates of this city receiver. The wrecked bank carried deposits of $127,432. mostly the money of small tradesmen. Among the stockholders is Charles E. Ellot, president emeritus of Harvard College. 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 maintained two touring cars and a kennel of dogs and was regarded as a "Itbetal spender."


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."


Article from Omaha Daily Bee, February 24, 1910

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Bank Fails and Bookkeeper IS Now a Fugitive Employe Charged with Being Short $144,000 Last Heard Of in Kansas City. BOSTON, Feb. 23.-Following the discovery that the National City Bank of Cambridge had been looted of $1444,000, the doors of the institution were 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, the young bokkeeper of the bank, who was last heard from in Kansas City a few days ago. Coleman is charged with embezzlement. The institution is In solvent. the capital stock of $100,000 and the surplus having been wiped out by the defalcation. Former Governor John L. Bales, the receiver, will liquidate the remaining assets. 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 fled and Monday night friends received a telegram from him dated Kansas City, Mo. This said he would be home tomorrow. The wrecked bank carried deposits of $127,432, mostly the money of small trades. men. It was organized in 1853. Among the stockholders is Charles W. Elliot, president emeritus of Harvard college. 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 businessman. He is unmarried. Coleman is treasurer of the Boston branch of the Kissel Car company, a St. Louis concern. He maintained two touring cars and a kennel of dogs and was regarded as a "liberal spender." 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 from 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 wipes out the capital stock of $100,000 and the surplus and undivided profits amounting to $33,450, thus making the bank insolvent.


Article from Evening Star, February 24, 1910

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HOW BANK WAS LOOTED UNIQUE SYSTEM EMPLOYED IN CAMBRIDGE INSTITUTION. BOSTON, February 24.-Former Gov. John L. Bates, as receiver, was today in charge of the affairs, of the National City Bank of Cambridge, which was closed yesterday by the controller of the currency on the discovery of a shortage of $144,000. This amount, it is said today, may not be the total of the alleged defalcation. 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 treasurer of the Boston branch of the Kissel Kar Kompany, of which he was the manager. It is stated that he would give checks for considerable amounts, which were cashed by 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 banks, the correct statements 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. It is said that through this means the falling off in the bank's deposits from $300,000 three years ago to $125,000 was more seeming than real. Coleman as bookkeeper of the bank recelved a salary of $12 a week. His family, however, is in good circumstances and It is generally supposed he received an allowance from his father.


Article from Omaha Daily Bee, February 25, 1910

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Defaulter Who Got Fortune on Twelve a Week Clerk Who Wrecked Cambridge Bank Had Unique Scheme for Hiding Shortage. BOSTON, Feb. 24.-Former Governor John L. Bates, as 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. This amount, it is said today, may not be the total of the defalcation. 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 treasurer of the Boston branch of the Kissel Kar Kompany, 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. 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. The police admitted this afternoon that they expected Coleman's return to the city before 5 o'clock tonight as the result of negotiations with his attorney.


Article from Democratic Messenger, February 26, 1910

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Bookkeeper of Cambridge,Mass., Institution Missing. RECEIVER NOW IN CHARGE The National City Bank, With $454,000 In Deposits, Will Not Be Reopened. Comptroller of Currency Discovered Shortage. Boston. Feb. 24.-The comptroller of the currency closed the National City bank. of Cambridge, when a shortage of $144,000 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. The closing of the bank was a surprise to the depositors of the institution. Most of them are owners of small business stands. The shortage was discovered by Pepper. The president of the bank. Edwin L. Dresser, said of the failure: "Of my own knowledge I do not know of any shortage. We took no deposits after Monday noon. when an investigation was started by our directors. We suspect a man who left Cambridge. He has sent word to friends in Cambridge from Kansas City that he would be back in Cambridge Thurs day." Steps were taken by the federal allthorities to apprehend Coleman. It is admitted by the officers of the bank that the institution will never be reopened. Its liabilities are $332.240, of which $128,432 consisted of individual deposits. Other liabilities of the bank as shown by the last report of condition. rendered as of Jan. 31 last. were: Circulating notes. $24,300; due to banks. $15.057; deposits. $128,432. and bills payable. $25,000. The resources of the bank on Jan. 31 were: Loans and discounts. $208. 625: United States bonds. $25,000; securities. bonds, etc., $29.710: real estate. $6,346: due from banks. $44,560; checks and other cash items. $16.746: redemption fund with United States treasurer, $1250. The National City bank was organized in 1865. and has a capital of $100.000. Of late years its business has been email. owing to the competition of several trust companies. Its last report showed a surplus and undivided profits of $46,000. Its deposits are $154.000.


Article from The Washington Herald, February 27, 1910

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Orders Probe of Bank's Affairs. 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.


Article from Norwich Bulletin, March 1, 1910

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BOOKKEEPER COLEMAN WILL LEAVE JAIL TODAY. Bail Secured Through Efforts of His Father and Uncle. Cambridge, Mass., Feb. 28.-The work of ascertaining the exact condition of the National City bank. whose bookkeeper, George W. Coleman, is under arrest for a shortage of $160,000, is progressing so satisfactorily, from an expert's standpoint, that former Gov. John L. Bates, the receiver. today declined the aid of Coleman in straightening out the accounts. Bank Examiner E. S. Pepper, who was suspended by the comptroller of the currency on Saturday, spent a few hours at the bank today, as his successor has not yet arrived. Through the efforts of the young man's father, Charles F. Coleman, and an uncle, securities were offered to the district attorney in Boston this afternoon and accepted. Tomorrow the bond will be signed for Coleman's release.


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.


Article from The L'anse Sentinel, March 5, 1910

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HOISIAID ursux em UILA "uen of the insurgent army, has evaded the government forces sent out to check him, and by a flank movement has taken the city of Granada. President Taft came out flatly in favor of a budget system, by which the government's finances may be regulated, in a speech which he delivered before the board of trade at Newark, N. J. The president talked of waste in the various departments of the government and suggested that the way to curb It is to have a system such as is in vogue in other countries where a schedule of expenditures is made up with reference to the income. His speech with its various suggestions as to government economy, was regarded as the keynote of a campaign to be carried on by the administration looking to the reduction in the high cost of living. Eight directors of the New York Consolidated Milk Exchange-the institution which is said to be responsible for putting up the price of milk in this city-were indicted by the grand jury. Each of the men is accused of aiding in the restraint of trade in violation of the state law governing trusts and monopolies. In opening the defense of New York Senate Leader Jotham P. Allds to the charge preferred against him by Senator Benjamin Conger of having accepted a bribe of $1,000, his counsel, Martin W. Littleton, announced that Senator Allds had filed with the clerk of the senate his resignation as president pro tem. Following the discovery that the National City bank of Cambridge at Boston had been looted of $144,000, the doors of the institution were closed 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, the young bookkeeper of the bank. Three dead, three lying at the point of death in hospitals and more than a thousand persons injured is the toll exacted by the reign of lawlessness which has existed in this city for four days as the result of the street car strike at Philadelphia. The justices of the supreme court of Illinois, at a meeting in Chicago, issued an order directing that all further proceedings in the Joyce case, which resulted in the parole law of 1899 being declared invalid, be stayed until the April term of court. Charles Smith, a painter in desperate straits, told New York physicians he was so hungry that he allowed himself to be knocked down and run over to get the price of a meal. A woman whose buggy ran over him gave him five dollars. "I'll get you," shouted Bowman B. Seybert, aged 80, as he sat dreaming in a chair in a Butler (Pa.) livery stable. He then began shooting and awoke to find himself seriously wounded. School slates and sponges have been barred by McKeesport (Pa.) health officials, who declare them to be germ breeders in scarlet fever, upon which they are waging a fight. A Japanese, supposed to have been bent on the assassination of some high official, was killed at Amoy, China, by the accidental ignition of a high explosive in his clothing. The mob, the bomb and the torch held command of the street car strike situation at Philadelphia. Martial law was declared in some parts of the city, but the rioters made a farce of it. They stripped the uniforms from the backs of the State Fencibles, the one military organization that was called out, and threw coats, hats and rifles into the sewers. All over town there was rioting and stoning of cars and there were several burnings and one bad case of dynamiting. The last of Senator Conger's evidence in support of his charge that Senator Jotham P. Allds demanded and received $1,000 nine years ago, for "protecting" the bridge companies against hostile legislation, was laid before the senate. Conger's attorneys announced that they rested their case. "If I was permitted to do so, I would undertake to run the government of the United States for $300,000,000 a year less than It now costs." This was the declaration of Senator Nelson W. Aldrich in a speech In the senate in which he indicted the government on the charge of extravagance. President Taft was cheered by 600 police lieutenants of New York, whose guest he was at their annual banquet at the Waldorf-Astoria. The president had previously delivered an address before the Society of the Cincinnati of the state of New Jersey, an aristocratic affair held at the Hotel Plaza. Adolph Wolgast is lightweight champion of the world. After a gruelling battle at Point Richmond, 12,000 fight fans saw Battling Nelson's colors lowered. After 40 rounds of the gamest fight ever witnessed, bleeding,


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.


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.


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.


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.


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.


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


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.


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.