Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-04-08
A SHORT TELLER.
$4,000 Missing and the
Bank Shut Up.
Not Much Margin Left.

INDIANAPOLIS, April S.-Since the
mysterious disappearance of Arthur
Mueller, the teller of the Central
Bank, Of this city, experts have been
examining the books Of the bank. The
examination was concluded at a
late hour last night, and the shortage
which at first was supposed to be
$2500, was found to be $4,000. The
officers of the bank met in consultation
at 8 o'clock this morning, with their at
torney, and upon the information Of
the directors he advised the closing Of
the bank until further examination
could be made to verify the experts
report. The record showing the ac-
counts Of the depositors was investi-
gated by Mr.. d. M. Taylor, who has
had no connection with the bank, and
he has found that large amounts have
been entered falsely, some of
the creditors being charged with too
much overdraft, while with others
the amounts deposited were too small.
1t was impossible to tell until all
accounts had been audited whether
or not there was a shortage; so that
while the investigation has been going
on since Muller left the city, nothing
definite could be learned until Mr..
Taylor furnished his work last night.
When he reported the result Of his
Investigation, the directors met and
decided that it would be best for all
interested to close at once; and in
pursuance with that decision the bank
will remain shut until the stock
holders are ready to resume.
Mr. Wildman and Mr.. Kennedy
we're very candid in their colversa-
ton, and the latter was sick at heart
because he had stated in the press that
the shortage was only $2500. He feared
that the public might think that
he had attempted to mislead them.
This he had not done. He said
that he had given as nearly as he
could the true account of the bank
condition. and that while it was NOT
probable that that statement would be
disproven, still it was then to all ap.
pearances, and to the best of his
knowledge and belief, correct. None
Of the directors are acquainted with
t the clerical form of banking, and
: being dependent upon the statements
. of their employees, they had been made
| the victims Of misplaced confidence
t They are not yet able to tell their ex
act condition, but are positive tina
none OF their depositors will suffer
t Mr.. Kennedy stated that the capita
a stock of the bank is put at 500, 600
e and that the amount of the deposit
0 is about $l05,000. He also said tina
{ the amount of cash now on hand wa
5 nothing like the amount that would b,
t required if there should be a run
: on the bank. Its assets, he, however
G said, were sufficient to protect tn
y depositors and other creditors and wa
: Of the opinion that all the accounts o
s the bank could be netted up within
:, year from this date. 1t is inferre,
e that the assets are very largely mad
e up of bills receivable upon real estate
C The exact amount of the shortag
: could not be given, but the Director
: are confident it would not exceel
1 $4,000, ami was perhaps not SO mucl
as that. The proper figures will b.
t announced as soon as they are pro
r cured, which will not be for severa
: days. There is no reckoning how lonl
f the bank will remain shut, and it i
| equally hard to tell whether tn,
/ present organization will evel
revive. Mr.. Kennedy sale
it would require at least one yeal
E to properly dispose of the assets. This
3 no doubt means that it will require
D careful work to make the assets NEE
the liabilities, and as there is appar
emily so little margin it is very prob
able that the bank will not survive
the shock it received by the defalca'
tion Of the missing teller.