Huntsville gazette., 1884-08-30
GONE TO JOIN EMO.

GONE TO JOIN EMO.
President Warner of the First National
Bank of Albion, n. ", Takes Refuge In
Canada After Despoiling the Burrows Es-
tate, of Which He Was Managing Execu.
tor-The Doors of the Bank Closed in Con.
sequence-Stock Gambling the Cause.
ALBION, N. ", August %.
Excitement over the suspension of the
First National Bank runs high, Cashier
Coon is not very hopeful as to the result
of the examination of the inner safe when
it is blown open. This safe should con-
tain all the banks securities, but it is
suspected that President Warner has not
left them intact. Mr.. Coon says, how
ever, that in any event the depositors
will be paid in full with interest. There
were over $3.50, 900 on deposit July lst.
President Warner left on the
evening of the 18th inst, saying
he was going to St. Catharines, and
thence to New York City. 1t is believed
that he is still in Canada. During the
past month he has transferred all his
property, but it will be claimed that the
assignments are void for want of actual
consideration. Mr.. Warner has lately
completed a fine roller rink, on which
there is $4,000 mortgage in favor OF II.
HI. Warner, of Rochester. The deeds and
mortgages were not placed on rec
ord until after his departure. War
ner's wife and child are here, and,
so far as known, not provided
for by him. His absence is generally
connected with his unsatisfactory man.
agement of the Burrows estate. Al
though five executors were appointed, 1t
became nee essary that Warner, owing to
his business qualifications, should have
general charge of affairs. The estate
was estimated at from eight to ten mil
lions, and as no inventory was ever filed
or complete records made, it will be
some time before the result of Warmers
management can be known, as most of
the bank stock Is held by the estate.
Lorenzo Burrows, President of the Uni
versity, an old and feeble man,
is one of the executors, and it
is no secret that he has long been dis
satisfied with the way in which Warner
was administering affairs, but no at
tempt was made to bring Warner to
account until recently, when Burrows,
son of the deceased millionaire, through
w. r. Calkins, of Boston, who held his
power of attorney, obtained an order
from the court requiring him to show
cause why he should not fill an inventory.
Warner paid no attention to this, and an
order was then issued requiring the I'M
ventory to be filed on the 18th. AS
Warner failed to appear on that day,
the Surrogate revoked his authority as
executor. and what had before be N mild
suspicion became a certainty. There is'
no doubt entertained by those who knew
Warmers habits, that he has sunk great
deal of money in Wall street. Rumors
that he had heavily overdrawn his &C,
count are pronounced unfounded. The,
bank has always been considered very
solid, and was favorite depository for
farmers and laboring men, as well as
business firms. Warner is young man
of fine appearance, and while not having
numerous personal friends, he was looked
upon as honorable and capable. As boy
he was great favorite with the deceased
banker, Burrows, who rapidly promoted
him, and finally made him one of the ex-
ecutors of his immense estate, position
probably worth $4,000 year. He has,
as almost sole manager of the property,
engineered its affairs much to his own
liking, the family apparently not caring
to offend him by demanding an account
of his stewardship. A few months ago
young Burrows lay at the point of death
at the residence of Mr.. Call
kins, at Boston, and it was
during this pcriod that Mr.. Calkins
began the action to require an accounting
from Warner. 1t soon transplred that
conspiracy had been made against Calkins
and his wife, who were accused by War
ner and the relatives of Burrows with .
systematic attempt to poison the invalid
with arsenic. The matter was brought
before the Grand Jury, who found no
bill. Young Burrows was removed by
his friends to hotel, and subsequently
to his mothers home in this village, al
ter having been induced to revoke the
power of attorney given to Calkins.
LATER.
The safe at Warmers house was opened
Yesterday afternoon, and in it were found
some papers which throw light on his
transactions. 1t appears he has used all
that was available OF the securities be-
longing to the Burrows estate for his own
benefit The real estate he could not dis
pose Of The estimated amount
of securities he has made
away with is several hundred thousand
dollars, possibly half million. From
his accounts, it has been discov-
cred, that he has been gambling in stocks
ever since he assumed the management
of the estate in 1879. He began imme-
diately to buy and sell stocks to an
amount of several hundred thousand dol
lars monthly. The real estate seems to
be all that is left of the property. n
OF the 100000 of capital stock OF the
bank, upward Of $4,000 belongs to the
Burrows estate. 1t looks as If Warner
has absolutely squandered all that he
could get hold of, not only that be.ong-
ing to the estate, but all that had been put
in his hands by others who had confidence
in his integrity.