Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1880-05-14
FIRST NATIONAL BANK!
israel BoOthby Discovered to
De Q Defaulter For q
Large Amount I!


| Oh, the community
was startled by the intelligence that Israel
i'oothby' cashier of the First National Rank
"~u committed suicide by shooting himself
through the head, and that his BODY had been
round In the cistern in the cellar Of the bank
NJ hrst Wild rumors of defalcation filled the
air butthe excitement soon subsided and
'he general opinion was that the causes which
ied 10 the rash act were ill health and ment.,
depression resulting from his close arnlca-
| 'ion Ior quarter of a century to clerical Ia
por' ana the exhaustive nature of his work
Bank Examiner Humphrey of Bangor was
'eiegraphed for at once by the bank officers.
and arrived in Augusta on the IL o'clock
tram the morning succeeding the suicide, and
al once proceeded with his work of examin-
ing accounts. The task was long one. "a
they run through a series of twelve wears.
MIR. BoOthby's death was a nine davis talk
and was almost forgotten when, yesterday.
1t began to be rumored Oh the street that Mr.
Boothby was
Defau1ter for Over 100000
Desiring to learn particulars representa-
tive of the Journal called on the bank officers
at the parlor of the bank, and there learned
the facts as fully as they care to make them
public at this time. Mr.. Humphrey has not
yet handed in his report and the exact amount
OF the detalcation cannot be ascertained. but
it is thought it will not fall below the
amount rumored
After the Suicide
was discovered a telegram was sent to Mr..
Humphrey. The bank vault was locked with
time lock, and in the interim bSkween the
despatch andthe arrival of the bank examiner
it was only opened for the purpose of reset
ting the lock, and the contents were not dis
turbed. When he arrived the vault was
opened. Money was obtained from another
bank, and business was resumed. The cash
and securities in the vault were placed in
Judge Humphreys hands, and were by him
examined. They remained in his care for some
eight or ten days, when he made report of
affairs as complete as it was possible to ar
rive at at that time.
The report then made embraced the cash
and cash items W. ch were in the vault at the
time of the suicide of the cashier. At that
time the accounts with corresponding banks
had not been examined either by Mr.. Hum
phrey or by the directors. These have been
very thoroughly examined since. 1t was
task of great proportions, as it was of course
imperatively necessary to have the condition
of the bank accurately ascertained. The
work has just been completed, and the dis
crepancies discovered. Judge Humphrey
will make his report public in a day or two.
| 1t may not be proper in advance to state
the aggregate of the distractions, but we
| learn that they are very heavy, and much
| larger than was thought possible to exist when
the work of investigating the condition of the
bank was begun ly the officers. Probably
they are very little exaggerated, if any, in
| the reports which, are now circulating among
business men.
The First National Not Affected.
| The bank has an ample reserve to meet all
contingencies that may rise. Cashier Booth
| Dv Douu WdS iOf c-o,VoV, anu " 40 SiS"S" ~
SOME of the wealthest men in Augusta. Mr..
Boothby had been in the employ of this in
stitution for twelve years, when he shot him
self, on . salary of $1,000 per annum. The
defalcations extend through a series of eight
years, vet so cunningly had he covered his
tracks and so implicit the confidence reposed
| in him. that the yearly examination never
revealed any errors Of Importance.
II required weeks and weeks of patient scru-
tiny into his books to trace out the errors and
embellishments.
Where the Money Went
| is not known His family expenses were not
very heavy, and he was supposed to be in ex-
tremelv comfortable circumstances. short
time before his death he stated to friends that
no was interested in real estate in York
county, on the Saco river; but an examina-
ton of records do not show that he held any
property in his own name in any York coun-
~ towns. Mr. Boothby owned $4,000 worth
of hank stock, some real estate, and had an
insurance on his life for 81, 900 for the benefit
| of his wife.
The Boston Herald of Wednesday, pub
lisbed long and interesting account OF the
l;s, of EIibu II. Washburne of Illinois, who