, 1880-06-17
The Brattleboro, Vt, Bank Swim.
die OF Immense Pro.
portions,
Eorgerfos Discovered Amount
ing to q Quarter Of. -,
II q Million.
The President Missing, and Beloved
to Have Committed Suicide.
Fatal Result ot.a Feud Between Two Men
In Kentucky.

BRATrl,Elsol,o, Va, June 10.-Tl,e rtmors |
nIthn which yesterdays dispatches were |
based concerning tho Insolvency Of the First
National uank Of Dratt1eboro nrc more than
realized. Although thorough iMvestiga-
t1n,t l,ud mot begun Mt = o'clock, enough Is
already known to warrant tho statement that
tho loss will reach upwards Ut q Quarter OK
n mlllinM Of .lol'nrs through tho forgcrfcs Of
tho President, S. II. WNlte, who las ,tn-
tloubtcdly left the country, aiul, MS the d.
rcctors believe, taken largc sum ot money
with him. How mitch can only be de-
ternlncll by n searching Investigation, which
will be begun on tho arrival Of tho Bank Ex-
alniMcr, llcndce, to-tlny, and who VIII
act as Receiver for the present.
The forged paper includes the
Connecticut 1.fyer Railroad fur about
$4,000: Frederick Billings, $4,000; Trcnor
". Park, go, 900; Lyon 4 licaly. Of Chicago,
$4,000; Taunton Locomotive Works. about
$4,000; e. j. Aniston, s1llnstlalc, $4,000;
vermtlye l. Co., New York, some 1900;
as tho investigation proceeds. How much Of
this paper has been used by White as col
latcrnl, upon which he lnny have raised largo
amounts for individual nso, tho Directors arc
unnbie to say, but rnmors thot Springfield
and Boston banks have been victlmized In
this why are current.
Tho bank WINS chartered In 1859 under tho
maine of Tie Wlndham County Bunk, aud
commenced business n year later with N. u.
Will[stoli President, alld Silas N. Walte, the
present lefu,lter, Cashier. Prominent men
III tho county were made Directors, and 1t
was run 1indcrn Stata charter for about ten
ycars It was tic first bank I'll tho county to
change Into n National Bank, which gave 1t
grent advantage over other banks fl the
vicinity for time, belng for several years
Government depository. It continued to re-
tain :: the !, confidence OF the, public
until 1877, when It was sald to
have been robbed OF largo ninouAt
Of Government bonds, belonging mostly to
special deposItors. Suspicion wns aroused
over the manner Of the robbery, since which
time confidence hasbeenMore or less shaken,
until the stock was finding a forced sale Mt
IT, although numerous statements made 1t
patent that the stock, should bring more than
par.
At special Investigation, April y, the
loans ind discounts wcra. .plucrd ut $3Gl, ,1lO;
capital Stock. .S3oo.ooo; surplus, $4,000;
undivided profits, s7,ll1; and individual
deposits. sGl,f1e:. 1t appears tlnt, Of
lind between s30, ,Ooo mud SIC, ,0W, This state
lnent wns sent to the stockholders and being
1ttssts ftsrary Ry sass hH Directors suspicious were
Sincu Janaary, ls7s, Waite has been prcsi-
dent OF tho lnnk. Efforts Ilaye been made to
haye cashier appolnted bt . Walte d 1,as ~
Urs allowed lin to havo ITS own wny.. For
stitution without s!ietatlon. One BY oae
for six years the Directors have refused
qualify, aaa tho ,rcsalt ,Ra has besn y
Until. i %aite Ind fonSd ssto mon. so1ao of
whom nre widely k,,own aiNl esteemed for
their honesty and business capactty, who
to tho affairs Of tho bank. The corruption Is
believed to datg back more than ton years,
wlnn 1t IL alleged q brother OF President
Waite got into financial Irregularities In q
i ii saIl wGre atraiglltenetl out by tho pay
I5rattluboro bank. Waite's MODE Of pro-
eeduIe Was J. see'Ins ' to p!aee, thsse fra9si.,
beanng tho maine ot oYeof his Directors WIlo at
| times was present Affltl risk his claim to tho
soiyency ut, the bank gu these. Tho D.
reetors, not being particularly coMYcrs!nt
iii was rigi,1t, and not until two or Tires
weeks sinco dill they attempt to acQuatnt
themselves with THO worth Of these secnri-
ties, About tihts time Examiner Hendee,
! discovered d discrepancy ln the checks fund
i II New York. This led to Inquiries. md .2' 9,'s
SSe %ss 1SS S e"ise / sap5gsd sSsu5ssd t. aotea ii
Vas hes!a to ask iie1sdee Il .Ee
deficit, md It Is suppGsed this was grnnted.
and Waite on T. tho followlng morning E arosa y,
s.lswer u lie'r query, replied ti,at liz was w 90.
INK to New York on bank business. Tie
next tidlngs were from Portland. where lle
wTSis ro "sa lt,tes I'LL The ast Spbt ."1s tsis
"Thtnk wy are Oh tho right track. Proba'
tsItltlcates Of stock have been Issued fol
te a. yet gso ,sss las @ gfe, no TseSf
bo uMeartllcd. THO bonks OF tho institution
5'Ssssto5sy is StSy ess!'sI:ss sI et: J. % T Ws!!s; E + 4
hyer ts slct 81 Rfs:eF + S9er Ns # c9sfFf:s hc fc
aSilson; i. g: Hillard, e Brnttle,l'pero;
Wi.itsesd 4 Yssnon; " +. Msnr;;!so3I; h. d d
Of TIE members claim e lave never qualified
mud suits havc, baetl brought ngalnst thcst
directors by THO Stockholders who cln!n
derelictlon OF duty. Seycr1l st9ck!lolaer,s
lapse, and feeling against tho directors Il
very strong. II Is believed that souio Of u,t
directors aro also financially ruineh, and thu
another county bank suffers BY loss.
A reporter called OH NJ. Lyon, Of Lyon s
1featy, last evening md askea him what r.s
latlons his ltr1n had with tie brokon bank.
"None whatever" was tha reply.
"It p,lrports to hold so0, ,00o OF your paper.
.,"The paper Is not ours. II thare ure MI,
notes they are forged Ones" -.
ths :3!sys NaMS %oa over had any transactions witt
ayes, betore the fire. Afr. wa!to' was n
: terested with I3urdette, an4 W1 took all tn
organs tho, Company made: Tleif factor
! WIS burned IL ls7l. and rebuilt ut Erie. Al
: our notes, however, Wero, niGt ut maturity
We do not 1--WE tho bunk dollar. -W0 neve
gnve Walte any papoT siice the fire."
"Whnfs WaltaY'
! "lIe in Il brother OF Charles Waite, wi,
! ! used to keon the sherman Ilouse hore, all
1 afterwards tho uEoyo0rt fl New York, WhnE
he died a year or 80 ago. ll9 has b,oli VIct
: President OF tho hnnk for the last twelv
. years. lIe nust l,ayn gotten Into q terrlbi
|, hole. Only thu other t1ay ta and Bilr.lott
sot judgment fur 800, ,00o against Estey fo
infringement Of patents"
GEORGIA MURDER CAaE..
tSp<tttt Ut&ad&sk 70 1Ns Uhteaac TtiAt.t1x