The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1885-09-02
TORGER AID DbFAUI1i5R,
Grimes Which Led a Bank Official
to Hill Himself,
A Shortage of Nearly 100000
Discovered in His Account,

y Fort Worth Texas dispatch tells this
story of prominent and respected bank Of
fcialS downfall and death: The late John
Nichols, vice president of the City National
bank, whose sudden IN death occurred OH Mon.
day Mt the bank, was defaulter in large
amount. The officers of the City National bank
Immediately called n meeting of the other
bankers in tho city to investigate the affairs of
City National bank. This committee of
bankers report that they found the late Vice.
President Nichols to have been defaulter in
about 1000, but they considered the bank
solvent and sound. The bank has paid up
capital Of $l5O,0o). with surplus Of 5000
Mr.. A. NJ. Britton, president of the bank,
says that the bank will recover its loss out of
the estate of Nichols, rs he is believed to have
left al estate valued at 10000, and his life
was insured for S24,0O0 Although Nichols
worth of its stock. he otticiated as teller, an
thus had opportunities for abstracting money
without the knowledge or assistance of any
other employe. The discovery of the defal-
cation created profound sensation. rs Mich
OILS stood very high and was one of the most
popular citizens Of this place. He leaves two
daughters, both Of whom are married. An
investigation into the cause Of his death is
now being carried OH, and the body will prob
ably be exhuned.
A run on tho bank was to becxpected after
the disclosure of the defalcation yesterday.
Before banking hours this morning little
knots of men and women were seen in the
nelghborhood Of the bank, and after o'clock
there was steady stream of anxious deposi
tors to the tellers window, and thousands Of
dollars were paid out. BY | o'clock the run
was over, the crowd had disappeared from
about the door, and everything looked as
usual. One or two business mon, to show
thcir confidence, had made large deposits, and
the excitement occasioned by the run was
dying out, when, shortly after . o'clock, the
banks doors were closed and the following
notice was posted:
This bank has suspended, by order of the
Controller of Currency, us per telegram:
WASHINGTON. D. c., Aug 20.
To 4. W Brihon. President Cty National
Bank. Fort WORTH:
Examiner has been ordered to take posses-
sion and examine your bank Close doors
and hold all assets rs they are until his Or
rival j. s. l.ONGWORTnY,
Deputy Controller.
Mr. Britton said that knowing the author
tiles at Washington would think it strange
that they were not notified of the dcfalcation,
he this morning telcsrapllcd the controller of
currency in 'orming him Of the de(alcation.
and stating nat the bank was solvent. In.
reply, Mr.. Britton received the official order
given al oe. Mr.. Britton, before closing
ing the Eank, prepared and sent to the tc!e.
graph Office Il message to the controller, to
the effect that the bank had been examined
yesterday by committee OF bankers and
pronounced solvent, and asking the con-
troller to rescind his order. The other banks
of the city had signed telegram to the same
effect
At this juncture c. O. Edwards came up
and asked for his money. Brtton asked him
how much money he had on deposit.
"Thirty-eight hundred dollars, was the re.
''You are mistaken" said Britton, "there
is to your credit only thirteen hundred
dollars and some cents" The accounts were
examined, and check was found for $?.5OO,
dated Aug. Is, signed e. o. Edwards and in
dorsed 4. i. Crowley. III re was also found
signed John Nichols, vice pl c'dent." These
papers were both pronounced iorgeri,s. Not
knowing how many more such forgerieS
might be detected, Mr.. Br tton racalIel his
telegram, and Mt once ordered the doors
closed, III order to get at the best way TO pro-
tect the hank.
In addition to the discovery of the lcfnlca.
ton and tie forgcl les. which up to date are
placed at $;5, ,0OO the city of Fort Worth is
heavy loser through Mr.. Nichols, who is city
treasurer The city is well secured by his
bondsmcn, who include some OF the richest
NEIL in the town The city s!:o lid have in
the bank a credit of SG,3S3, whereas this
credit is only S1S,10O
In addition to his banking interests Mich.
OILS owned business block valued at llG, 600,
ten acres of land in the suburbs Of Fort
Worth, ranch of thousand acres on the
Clear Fork, and $50 shares in the Espuell
Land and Cattle company. Nichols left
largo amount Of personal debts. where he hail
borrowed money. This aggregate is not
placed lower than *20,W0 AS near rs can be
estimated tonight, the funds which cannot be
accounted for are between STTj5,0UO and Sl0O,-
OOO while it is said that much Of Nichols
private fortune is covered by mortgages.
AS to where this large sum of money was
sunk there are various conjecturcs. Nichols
is said to have had all interest in silver mine
in New Mexico, while large cattle transac
tions in Kansas City are spoken OF rs having
swallowed much money.
President Brtton has no doubt now that
Nichols committed suicide. The physicians
state that the symptoms of his death were
similar to those caused by strychnin,.