The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1877-05-25
The Springfield National Bank.


For several weeks past there have
been rumors afloat regarding the stand
ing of Cashier Albert Brown, of the
First National Bank of Springfield, and
his connection with some financial trans
actions growing out of the diversion of
bonds and money belonging to various
individuals as collateral security for
moneys with which to speculate. The
teller of the bank, Frank II. Brown,
has made the following affidavit, which
Is published In the Boston journal, and
which, together with some others, Is to
be forwarded to the Comptroller of the
Currency, with an application for
receiver to be appointed for the bank,
or that the comptroller take steps to
dismiss the present officers, and have
others placed therein holding the conf
dcnce of the community.
AFFIDAVIT OF THE TELLER.
AT the request Of a number of the
stockholders of the First National Bank
of this place, j, Frank ii. Brown of this
place, upon oath do certify and set forth
the following facts, to wit: That prior
to and including the fifteenth day of
May, 1877, for nearly six years, l have
acted as teller of said bank. In October.
1876, while the cashier, Albert Brown
was visiting the Centennial Exhibition
at Philadelphia, Mr.. Samuel Rollins. n
resident of this place, came into the
banking rooms and expressed a wish TO
renew note; that the bank held a q.
). S-2O bond belonging TO him (Rollins)
as collateral security; that at that time
the bank held large amount of bonds
and other securities deposited for safe
Keeping by various persons residing in
or near this town. took the collateral
file from the safe and found the enyel.
opc, which was marked, and should
have contained eleven hundred dollars
in bonds belonging to Mr. Rollins. bui
which was held as security for a small
loan by the bank. That on inyest;oo-
ton further found in this envclope
only q one hundred dollar bond and q
small slip of paper, on which was writ
ten the number and kind of the thousand
dollar bond and the letters A, b. Mr.
Rollins saw by my actions TINT some.
thing was wrong, and upon being asked
by him If the bonds were there. renlied
that the one thousand dollar bond WINS
not, that it was doubtless all RIGHT and
the cashier could explain where II WINS
when he returned home. This WINS the
first intimation / had OF any MISSING
bonds, but have since learned that some
of them were taken some time previous
Is. On discovering this bond TO be
missing, l Immediately examined the
package OF bonds deposited for safe
keeping, and which the cashier, previous
to his departure for the Centennial. Ind
securely wrapped in paper and marked
"Private." found every one thousand
dollar coupon bond missing, but in
each envelope was a small piece of paper
with similar writing upon il as in the
envelope owned by Mr.. Rollins. excen-
ting in few instances, where were the
words, Borrowed of the owner" sucb
bond, etc. In some of the enyelones
| found some waste paper inside, max
ing the envelopes appear the same as
before the bonds were distracted That
previous to this l had informed the
president of the bank that | believed
the cashier was specializing in stocks,
and that his private account at the
bank at times WINS overdrawn. / did
not Immediately inform the president
about the missing bonds, because did
not know but what they had been bor-
rowed In good faith, and because pre-
vious to this had been threatened in
an indirect way for divulging things to
the president by the cashier.
Near the commencement OF the ,res.
ent year, having situation offered me
In neighborine state, and because I
did not like the way things were going.
l endeayored TO resign nv office as
teller, but was made TO believe by the
president that il WAS for my Interest TO
remain, and being promised promotion
] continued to act as teller Near The
! first of February Of the present wear. on
looking over the account from ono cor
respondent in Boston, the First National
Bank, which is sent the first of every
month for the preceding month. and
which the cashier had previously check
ed OF and pronounced all right, | no.
iccd an item charged to our bank on
the Goth of January, purporting 10 he n
check, but which had no number. ne il
customary, for 5000
On looking on orr books in which tho
account with Boston is kept, found no
corresponding credit of that date. or nj
any time during the month. On inyes.
tigating further | found on the book
which the cashier uses to compare the
two accounts a credit in figures of six
hundred dollars, but which was moi
defined in writing before it, as was Gus.
tomary, only by single character.
which would be hard TO describe. but
which resembles capital C. In order
to make his books balance this (wbat
seemed 10 me) false entry was made.
and for which corresponding entries are
to be found on the books Of the bank
At this time his private account at the
bank was overdrawn five hundred dol
lars, and had been at times overdravn
eleven hundred dollars.
At times when an examination was
expected he was careful to have this
remedied. AT this time the cashier was
In n bad condition mentally, and | had
reason to believe he was contemplatinp
a sudden departure, by his telling me
what to do in case he was absent. etc
l was watching the bank. ut times.
night and day, but without the cashiers
knowledge, only as he surmised r. and
becoming very anxious about the safet q
of the funds in the bank, at about the
last of February told the president fhe
whole story about the missing bonds
and what l then knew about the check.
| again expressed the wish to step out
quietly and leave. but was battered and
made to believe | must stay, aud was
told, as had been many times by the
president, TO say NOT word to ANYBODY.
but keep still and watch things, and
keep the president informed.
When the account came from Boston
in March, for the preceding month. /
noticed credit on February IS of 5000.
for which, on looking on The banks
book, found no corresponding charge.
| found that about the 18th of January
1877, Mr.. Brown being informed by his,
brokers in New York that more margin
was required, and being short of funds,
took blank not commonly used by the