The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1877-05-24
THE NATIONAL BANK AT SPRINGFIELD
Alleged Irregularities Of the Cashier hargeI
Against the President and Some Of the Di
rectors-Affidavit Of the Teller.

Alleged Irregularities Of the Cashier Charges
Against the President and Some Of the Di-
rectors-Afhdavit Of the Teller.
The Springfield, Vermont, correspondent
of the Boston journal telegraphs to that
paper as follows: For several weeks past
there have been rumors afloat regarding
the standing of Cashier Albert Brown of
the first national bank of Springfield and
his connection with some financial transac-
tions growing out of the division of bonds
and money belonging to various individuals
as collateral securities for moneys with
which 10 speculate. So numerous and
seemingly well founded we're the rumors
that Cashier Brown had not given as clear
and truthful statement of the precise status
of affairs concerning himself and these
bonds, special meeting Of the stockhold-
ers was held here May 18Th to look into
matters, and also to see whether the stock
holders would vote to reduce the capital
stock one-half, namely, to 500, 000 The
meeting was largely attended. Samuel AL
ford, jr., the president presided, and made
a statement to those present, giving the
reasons for reducing the capital stock one
half
Several Of the stockholders then desired
to know the truth of the statement in cir
culation about Cashier Brown, and called
for the teller, Frank II. Brown. They
asked him many questions regarding his
knowledge of the inside workings of the
bank. The teller replied to all questions
asked him, and his revelations caused
much excitement. The cashier undertook
to make some explanations, which the
stockholders listened to, and vote was
then asked for on the question of reducing
the capital stock, which was defeated,
nearly ten to one. The meeting closed
with much excitement, and shortly there
after the teller was dismissed. The dis
missal of the teller has created no little stir
} among the community, and The Journal
representative has tonight obtained from
him the following affidavit. This affidavit,
together with some others, are to be for
warded to the comptroller of the currency,
, with an application for a receiver to be ap-
pointed for the bank, or that the comp
, troller take steps to dismiss the present Off
, GERS, and have others placed therein hold.
ing the confidence of the community.
AFFIDAVIT OF THE TELLER.
a SPRINGFIELD, VT, May 81, 1877.
I At the request of number of the stock
H. Cat I..1 l. <.E 10
place, l, Frank H. Brown of this place
upon oath, do certify and set forth the fol
r lowing facts, to wit: That prior to and in
; GLIDING the fifteenth day of May, 1877, fol
. nearly six years, have acted as teller OF
eald bank. In October, 1876, while thu
Cashier, Albert Brown, was visiting the
: centennial exhibition at Philadelphia, Mr.
Samuel Rollins, a resident Of this place
came into the banking rooms and expressed
a wish to renew a note; that the bank hel(
a a U. S. $50 bond belonging to him (Rol
J. lins) as collateral security; that ct tina
n time the bank held large amount of bond
and other securities deposited for safe keep
oaIo anu .Ju"u tno vnrvIUpo, IHcu wa
= hundred dollars in bonds belonging to Mr.
Rollins, but which was held as security TO
small loan by the bank. That on investi
o CATION further | found in this envelope onl,
a one hundred dollar bond and small sliI
OF paper, on which was written the mum
Der and kind of the thousand dollar bono
i and the letters A. B. Mr.. Rollins saw BY
my actions that something was wrong, and
a on being asked by him if the bonds were
, there, replied that the one thousand dollaI
bond was not, that it was doubtless al
e right, and the cashier could explain where
? 1t was when he returned home. This was
. the first intimation 1 had of any missing
bonds, but have since learned that some OF
them were taken some time previously. On
discovering this bond to be missing, i'm.
medlately examined the package OF bonds
deposited for safe keeping and which the
cashier, previous to his departure to The
centennial, had securely wrapped in paper
and marked Private" l found every one
thousand dollar coupon bond missing, but
In each envelope was small piece of paper
with similar writing upon it as in the en-
: velope owned by Mr.. Rollins, excepting in
few instances, where were the words
Borrowed of the owner" such a bond,
etc. In some of the envelopes l found
some waste paper inside, making the en-
velopes appear the same a, before the
bonds were extracted. That previous to
this had informed the president of the
bank that believed the cashier was specu-
lating in stocks, and that his private ac-
count at the bank at times was overdrawn.
did not Immediately inform the president
about the missing bonds, because / did not
know but what they had been borrowed In
good faith, and because previously to this I
had been threatened in an indirect way for
divulgiDg things to the president by the
cashier.
Near the commencement of the present
year, having a situation offered me in
neighboring state, and because | did not
like the way things were going, l endeav-
ored to resign my office as teller, but was
made to believe by the president that it
was for my interest to remain, and being
promised promotion continued to act as
teller. Near the first of February of the
present year, on looking over the account
from one correspondent in Boston, the
First national bank, which is sent the first
of every month for the preceding month,
aud which the cashier had previously
checked off and pronounced all right, no.
ticed on item charged to our bank on the
goth of January, purporting to be a check,
but which had no number, as is customary,
for 5000.
On looking on our books in which the
account with Boston is kept | found no
corresponding credit of that date, or at any
time during the month. On investigating
further l found on the book which the
cashier uses to compare the two accounts a
credit in figures of six hundred dollars, but
which was not defined in writing before ii,
as was customary, only by a single char.
acter, which would be hard to describe, but
which resembles capital O. In order 10