Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1885-10-05
THE FRANINGHAM BANK.
Condition OF the Deposits In the Institu.
uon-Judge Esty, the Administrator,
Cited to Appear in Court.
SOUTH FRAMINGHAN, Oct. 5.


The talk of the townspeople is the present
status of the South Framingham bank, and
its discussion has even entered into the week
day evening prayer meeting of Plymouth (Or,
thodox) church at birmingham Centre, to
which society Judge c. c. Esty. the promi-
nent figure in the bank trouble just at pres
ent. belongs. The pastor, Rev. Lucius K.
Eastman. Jr., has taken occasion 10 advise
people not to be too hasty in forming their
opinions of the transactions as reported.
President Fuller, who is at his post con-
stantly, said this afternoon that he hoped
some arrangement might be made whereby
some of the poorer depositors, who are in
need of some of their money for use in pur-
chasing coal and other supplies for the inter,
might soon be accommodated. Judge Esty
r., not presided over the first district court
of southern Middlesex since the morning of
the day on which the damaging bank devel-
opments were made.
There is some discussion here in connec.
tion with the future Judgeship of the distric,
court. Joseph s., son of the late treasurer
of the bank, who was associated with his
father in the bank and insurance business,
has made arrangements for conducting his
business in the future in room in Waverly
block at South birmingham.
There are between 10000 and IL 900 de-
positors' accounts on the ledger of the bank
and many of them are closed. At the present
time there are at least 5000 passbooks or the
depositors which are out and they are scat
tered all over the country. 1t is thought
that more than one-half of the books are held
BY the Irish population. Some 1000 pass
books have already been surrendered for yer
itcation and receipts given by President Full
ler, and it would seem to be for the interest
of al partiCs concerned, if everyone would
p 'omptly send in these books. The deposits
vary in amount from 81 to $4,000. The
latter amount, which is the largest single de-
posit, was made by Elias Grout of Ashland,
one of the trustees of the bank for that town
and it is now said that the institution had no
right to take this sum from Mr. Grout, and
that he had no right to put the money into
the bank.
The expert accountant, N. p. Lamson of
Boston, closed his fifth week of the examina-
ton this afternoon. He has made up the
deposit accounts from the original records
from November, 1870, to August Is, 1885,
which was the date OF Commissioner Getch-
ellis annual examination of the affairs of the
institution. A new cash book has just been
opened, which comprises the details of the
business transacted since the suspension of
the bank. Expert Lamson finds no contnu-
Gus record of cash book, likewise no contnu-
Gus ledgers, and the accounts are broken.
The interim must pc supplied from stubs of
check books end receipt books. 1t is not
thought by the expert that he will be obliged
to go back of November, 1870, for purposes
of examination, unless it may be found nee
essary to do So in investigating the pass
books of the depositors. The average ndi-
vidual deposits are larger than they are in
many savings institutions "This bank, ~
said Expert Lamson, "will go into the hands
of receiver unless we find some larger de-
ficiency than we have already struck" 1t is
estimated that the cost of such transaction
would be at least 10 per cent of the deposits
and several years time would be consumed
in the work.
Asa Kingsbury died at Walpole, Aug 18th,
| 1910. He left a moderately large estate to
his heirs, Lawson and Sophia Kingsbury and
their representatives or heirs, the former to
receive a certain amount and the latter the
residue. Judge c. c. Esty was appointed
administrator of the estate. In 1881 or 1882
some trouble arose between the administrator
and the heirs. They desired him to pay up,
but he proved very slow in doing so. He
was therefore cited into court and it is un-
derstood that the matter has not yet been set
tied. This is spoken of here very frequently
since the savings bank developments were
made