Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1872-09-26
For CoNGREsS-4TH DISTRICT,
Hon. Jno. Nj. Bright.
The Collapsed Bank.

Ine CoIlapSe0 Bank.
The Peoples Bank, of Nashville,
which blew up on the 4th inst.
acknowledges an Indebtedness of
$4,000. and claims Sill, 900 of
assets, three-fourths of which, the
officers says, are collectable. Its
depositors are principally persons
of small means, who can i'll afford
the loss and inconvenience to
which they are now subject
The principal sufferer, however,
it seems, is Clarke county, Ohio.
The Springfield 7ronscript, pub
lished in that county, in the fol-
lowing article tells its readers
very plainly how and where their
money has gone. Clarke county
is strongly Radical, and it may be
some consolation to the voters
thereof to know that it is a"loyal"
brother who has Squandered their
funds:
The Clarke County Treasury
Robbed of $S7 900. Embezzle-
ment and Misrepresentation of
Funds. T. A. Wick engaged in
a Southern Bank speculation
with the Peoples MOney-Simul-
famous Collapse of the Bank and
our Treasurer.
The startling rumor was whis
pered about from ear to ear on
our streets Thursday last that a
defalca,ion of an alarming magni-
tude had been discovered in the
Clarke county Treasury. AS
soon as the rumor was fairly star
ted it spread like wildGre among
dry prairie grass, SO that on the
two following days the one sui
iect of conversation was the de-
falcation. Groups of citizens on
this day, Thursday, We're to be
seen at various places in the city,
OH the street corners, in shops,
business rooms, wherever chance
brought them together, discussing
the sensation of the hour; some
with pallid cOuntenanceS which
Indicated that their connection or
responsibility with the depository
of the county funds was too init
mate to be contemplated with COM
posure, others with an i'll con-
ceaIed anxiety which, notwith-
standing a forced indifference,
showed they shared in the gener-
al dismay. With the majority Of
citizens, however, indignation
took the place of surprise as soon
as the facts became known.
The case briefly aud pertinent
ly stated is this the Clarke coun-
~ Treasurer, Ia. Wick, is de- |
iaulter to the amount of SS7, 900. |
1t appears from the investigation
which has been made, that Mr.. Wick |
invested 100000 of the funds in |
his possession in the Peoples
Bank of Nashville, Tennessee
This investment was made some.
time ago. Last Friday, accord.
ing to his own statement, Mr.. |
Wick received intelligence to the
effect that the bank could not pay
this money. lie did not however
communicate the same tohis friends
nntil two or three days subse-
quently. On Sunday, if we are
not misinformed, he first revealed
the fact that in consequence Of
the failure of the bank he would
not be able to transfer to bis sue
cessor, Dir. Montjoy, who was to
be indicted into the Office of
Treasurer on Tuesday, the funds
which ought to be in the vaults
of the county depository, On
Monday evening a consultation
was held with Messrs Goode, Bow
MAJ and Keifer; they however
uave Mr.. Wick no advice further
than to place his property at the
disposal OF his creditors, to re-
munerate them n part for the
heavy loss they would sustain.
For many years intimate re-
lations have existed between Mr..
James G. Og' en-, the President of
the Peoples Bank, Nashville,
which suspended payment on
Wednesday, and Mr.. Wick. The
former was once resident of Ur-
hama where he was known as a
man of reckless business habits,