The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1886-07-23

sus,sasaoa q 10 Previasas sav1ngs S.ans
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nl<non1 ~ ~ Cn~hleP-xAs Hank - -
Hands - > neee1vers
ST. Lxoris, July lt.--Great exeitemens
prevailed on Change and n other COM
mercial circles when Il was announced q
aoon to-day that the Provident Savings
bank had closed Its doors. and the excite
meut became intense when 70 became
known that the cashier. A. B. Thompson,
had left for parts unknown. 1hs Wild
81 kinds Of rumors prevailed. and 4 was
q one time stated that the shortage
would amount TO over 100000, but this
was afterwards contradlcted, and u wSs
stated By broker who Il acquainted
with the business OF the bank that
he amount could hardly be more than
aalf that amount. Very few business
houses had accounts with the bank and
the majority Of the persons hurt Will be
small depositors, who can not nhord 20
lose even the small sums they had on de-
post. II was at first stated that large
manufacturing establishment that had an
account with the bank was the cause OF
the failure. but this was also contra
tlicted and the head Of the concern
referred TO, said that he had
no collateral at all with the bank. The
stock Of the concern has stood well on
the market, and the failure comes like =
thunderbolt, and was Is much surprise
TO the brokers on the street IS TO the
smallest deposition.
Many Of the school teachers now on =
vacation will loose all they have IN the
world. Never since the failure Of the
Citizens bank has 80 many small dcpos-
itors suffered By failure.
On the application Of Carlos 8. Greeley,
the largest stakeholder Of the Provident
Savings bank, 6led In the Circuit Clerks
Office shortly after noon to-day, Judge
Lubke appointed william II. Thompson,
President Of the Bank OF Commerce, re-
ceiver Of the Proyident, and fixed the
bond therefor q 81 200. 900.
The bank was organized January 81,
1854, with . capital stock Of $500, 900,
and has since done quite an extensive
business among the non-commercial
classes. The defendants In the suit are
James 3. Garland. Almon b. Thomson,
Thomas II. Swain, VIM. r. Mullen, Geo.
Scott Carlos s. Greeley and Charles II
Smith.
The Officers OF the bank are At present
James s. Garland, president; A. B.
Thomson. cashier; anc Thos. n. Swain,
vice president. The affidavit filed In the
application alleges that BY the charter
the directors were fixed At nine, but IL
fact there are but seven; that affianl
holds q larger number Of shares thar
any other stakeholder; that the Other
stockholders are widely scattered;
that In February. 1856, J. 8. Garland.
president, became III and was forced &c
abandon the banks management, and fol
six months was absent from the cifv;
that By reason Of his absence and failure
Of attention TO the business, Cashier
Thomson assumed the duties
in his stead; that on July
IL. Thomson did nor appear a. the bank,
and has not appeared since, and he does
not believe he intends u again appear
neither 10 his whereabouts known.
A partial investigation II II alleged dis
closes the fact that A. B. Thomson ha'
embexxled and appropriated large sun
Of money, believed to be $4,000. and
that investigation will disclose Q sill
larger amount embezzled.
Current deposits IS shown by the book
q close Of business. July IS, Sass, 236. ~
time deposits. o426, 6i9.i7; cashier
checks heretofore issued and not yet paid
ol9,594- 80: unpaid dividends, 500
other Indebtedness, $4,000.