Savannah morning news. [volume] (Savannah) 1868-1887, 1885-08-21
DEATH SHOWS DISH0N0R.
BANKER NICHOLS FOUND TO
HAVE BEEN A DEFAULTER.

A Discrepancy of $50, 900 Already Dis
covered-He Also FIeeced the City As
Its Trsasurer-His Demise Now At
tributed to Suicide-A Run Followed
by the Closing of the Bank.
FORT WORTH, TEX, Aug. 20.-A start
ling rumor was spread through this city
yesterday to the effect that the late John
Nichols, Vice President of the City Ma
tional Bank, whose sudden death occurred
last Monday at the bank, was a detaulter
to large amount. Immediately after his
demise the officers OF the City National
Bank called q meeting OF all the other
bankers OF the city TO investigate the
affairs or the bank. This committee re-
port that they ind Mr.. Nicnols TO have
been defaulter to about 100000, but the
committee consider the bank solvent and
sound
THE BANK SOLVENT.
The bank has a paid up capital OF $780,
600, with a surplus OF $780, 900. A. NJ. But
ton, President OF the bank, says that they
are well prepared for a run and that the
bank is perfectly solvent and will recover
its loss out Of the estate OF Mr.. Nichols.
1t is now generally believed that Mr..
Nichols death was suicidal. He is be-
lieved to have left an estate valued at
100000 and his life was insured for SPA
OJ0. Although Mr.. Nichols was Vice
President OF the bank and held $4,000
worth Of its stock, he ofiiciated as teller,
and thus had an opportunity for abstract
ing money without the knowledge or as
sistance Of any other emplOye.
ALSO CITY TREASURER.
Mr.. Nichols was also city treasurer,
but thus far no Irregularities in his ac-
counts as treasurer have been discovered.
So far as is known the outside indebted
ness of Mr.. Nichols on individual notes
amounts to but $40 900, although rumors
are current that his private indebtedness
is much larger. MIR. Nichols was a man
of frugal habits, and did not drink or
gamble. His funeral yesterday was the
largest ever witnessed in the city. The
discovery OF the defalcatiOn created a
profound sensation, as Mr.. Nichols stood
very high and was one of the most popu-
lar citizens OF this place. He leaves two
daughters, both OF whom are married.
ARUN ON THE BANK.
FORT WORTH, TEX, Aug. 81, "a. NJ
The sensational disclosures in relation to
the affairs Of the late John Nichols re-
suited in a run on the bank this morning.
AS soon as the doors were opened a steady
through the bank, and about
O'Clock the crowd seeing that the
bank paid every one who
applied, quietly dispersed, and the run
ceased. Some business men made large
deposits to show their confidence in the
bank, and matters seemed progressing
favOrably for the bank, when about 2
O'Clock, TO the surprise OF everyone, the
banks doors were closed, and the follow
ing notice was posted
"rhis bauk has suspended by order Of the
Comptroller of the Currency, as per tele-
gram"
WASHINGTON, d. c., Aug. 90, 1898.
4. d. BrittOn, President Of CITY National
Bunk:
An examiner has been ordered to take pos
session Of and examine your bank. Close the
doors and hold all assets as they are until his
arrival. J. g. LAECWORTHY.
Deputy Comptroller.
President Britton stated that ne notified
the Treasury Department of the defslca-
ton and received the above reply. Mr..
BrittOn and a number of other bankers in
this city Immediately framed a telegram
TO the Comptroller, asking him TO Tescind
the order closing the bank, but
just as their protest was about
TO be telegraphed they discovered
forged check for $4,000 and also
a note for $500, and concluded TO allow the
doors TO remain closed until a thorough
examination has been made. An eX-
animation of Mr.. Nichols account as City
Treasurer to-day revealed the fact that he
was also detaulter as City Treasurer.