The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1873-10-08
MASSACHUSETTS,.
Bank DefaIcatiOn at Lowell.
$4,000 to $50, 900 Absorbed by
a Cashier.

LOWELL, Oct. 7.-Consderable excitement
and inquiry was caused in financial circles YES
terday afternoon by the report of large defal-
cation of the cashier of the Merchants Nation
al Bank, John n Pierce. jr., who is also Treas
urer of the Contra, Savings Bank. But little
information could be obtained, the officers of
the bank being very reticent, but to-day admit
Irregularities and promise statement. The
capital of the bank is assumed to be unimpair-
ed, and the savings bank not affected. AS near
as can be learned the amount is believed to be
$4,000 or $4,000.
The officers of the bank state that the knowl-
edge of irregularities in the accounts of the
cashier first became known to them early last
week. One OF the directors stated his deficit
must have commenced while it was State
bank, and that be had successfully evaded de-
lection either by the directors or bank examn-
ersup to the present time. No error was de-
tected in making up the accounts for the Octo-
Der dividend. Pierce acknowledges the i'm
parchment. The failure to fulfil a telegram
promise to the I'd National Bank of Boston to
honor checks led to the examination and ex-
posture. 1t is stated by one of the directors of
the Merchants Bank that Pierce had of the
bank about $4,000 at one time of which he
has returned about $4,000. The capital is
100000 The surplus of about 5 per cent is
absorbed. Pierce has not had the key for days.
Rumors are circulated that he has left
TIE trustees of the Central Savings Bank,
with experts, have examined tonight the ac-
counts Of Treasurer j. N. Pierce, jr, who was
present, and find them infinitely correct and
the funds safe. Col Needbam, Examiner,
with the Directors of the Merchants Bank, are
engaged this evening in the examination of the
bank accounts.
Various Matters.
BOSTON, Oct 7-Memoral services were held
to day in st. Paurs church over the remains OF
Bishop Randall. The attendance was large,
including the Grand Lodge of Masons, OF which
deceased was Past Grand Master.
AT an informal meeting of the stockholders
of the Vermont & Canada Railroad in Boston
to-day, the following gentlemen were appointed
committee to report list of directors to pre-
sent at the forthcoming annual meeting, VIZ:
Messrs. Leverett Saltonstall, Samuel Wells,
Johnathan Dwight, George d. Noyes and A. g.
Stafford.
A new unoccupied dwelling house on Huron
street, Cambridge, owned by Mr.. Frost. burned
this morning. Loss $4,000.
Policeman Gardner Walker died to-day from
injuries by being struck by a team in the street
few days since. Aged 43, He served during
the Mexican war and late rebellion, being pro-
NOTED to the office of Major in the LIST Massa-
chusetts Regiment, and participated in all the
battles IN which that regiment was engaged.
SpOkes TO the Hub.
The question of annexation voted upon to-
Gay called out a light vote in Boston. but the
SnDurbans turned oat in considerable force.
Inc result is the annexation of Charlestown,
brighton and West Roxbury to Boston, Brook
line alone voting no. The vote of Boston was
LOT Charlestown $3.50 yes. 1868 no; Brooklne
6zo5 yes, 1916 no; West Koxbury CLIO yes, 1858
moi Brighton 1929 yes, 2133 no. The vote of
Bnghton was 500 yes 1913 no; West Roxbury
10 yes, Glib no; Charlestown 2240 yes, 1917 no;
brookline 299 yes, 7O6 no.