St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-01-02
The President Of the Lancaster National
Bank, Clinton, Mass, Plies for
Canada,
Taking With Him 100000 and Leaving
Behind a Legion of Heart-Broksn
DepOsitOrs.
A Lowell Savings Bank Mourns His
Loss TO the Extent OF Something
Like $4,000.
Philadelphia's Latest Elopement--
Another Internal Machine In Chi
cago--Other Crimes.
skipped with the Funds.
Special 10 the Globe.

! county Is shocked to-day by the disappear
ance of William Ii. McNeill, the president
of the Lancaster National bank Of Clinton
and one of the receivers of the insOlvent
Lancaster savings bank. Mcneil. who Is
an elderly man and church member has,
it is believed, been specializing largely. He
was last seen Tuesday evening In Fitch
! burg where he boarded the Montreal ex-
press train. To-day the directors, alarmed
at his absence, called a hurried meeting.
An unsatisfactory examination of the
banks books was made. which resulted in
! the state bank examiner being summoned.
| Upon his arrival he took possession
of the books and ordered the
doors Of the bank TO be closed. When
Bank Examiner Gatcheil visited the insti-
tuition Nov. II, he was dissatisfied with
some of the loans. and made an unusually
long report TO Washington about the banks
condition. That its management has been
looked upon with suspicion. even by some
OF the directors, is now confessed. but be-
yond an unsuccessful attempt year ago to
outvote Mcneil nothing seems to have been
done about it. The people OF Clinton have
somehow fought shy of it, and are not
losers to any extent. The defalcation wa
brought to light yesterday, when the First
National bank of Clinton
~ GEI a
| and failing, sent the Lancaster banks paper
TO protest. The Lancaster bank was organ
ized in 1896, with $500, 600 capital, and be-
came national bank in 1864. Its present
capital is 500, 600. 1t was formerly To-
Gated at Lancaster, but was moved to Clin-
ton in June, 1888, when it became the Ian
caster National bank. IL Is supposed TO
have a surplus Of about $50, 600, with I'M
divided profits of S14. 900, and has about
1927, 600 in deposits. The bank has PROM
isSory notes of the Low Cattle company to
the amount of $4,000, and notes endorsed
| by that concern TO the amount Of
$50. .000, Mr.. McNeilrs name being upon the
paper simply as treasurer of the company.
The bank. however, holds his individual
notes for $1,000 and they are fully secured.
1t is also thought that Mr.. McNeill has
loaned money TO speculative enterprises, in
which perhaps he has no direct interest.
and it is said he has invested heavily in the
Cheyenne Cattle company. The feature Of
the failure which most interests people in
the vicinity is the fact that the absconder
was one of the three receivers of a savings
bank which failed ten years ago. About
$50. 600 due the dep0sitors, as a final diYi-
dend, was deposited in the rational bank,
and it is feared that this, as well as
the banks surplus of $50, 900 is gone. The
latest indications are that the defalcatiOn
will not fall below S100. 600, and il is pos
sible it will be dead loss to depositors, as
President McNeill neither gave bonds nor
obliged his cashier to give bonds.
FURTHER DETAILS.
CLINTON, Mass, Jan. 1.-The Lancas-
ter National bank of this place closed its
doors last night, after an examination of
the books by the directors. President W.
81. Mcneil is missing, and has not been
heard from since Tuesday, when he was in
Lowell. whence he started ostensibly for
Boston. He is charged with having used
the banks money for speculative enter
priSes in which he was interested aud which
do not furnish sufficient security. The di-
rectors, Messrs. Batchelder. Hosmer. Gar
ner, Russell and Page. together with Bank
Examiner Getchell. who came TO Clinton
to-day, have been hard at work on the
| books all day. The directors seem de-
pressed and are exceedingly reticent Cash
ier Farester expressed himself very plainly,
and his condemnation of President Nc
Neil's financiering is unmistakable. He
says the latter, since his elevation to the
presidency of the bank last January, has in
vested the banks funds according to
his own inclinatiOns. His operations have
at times been far from straight. At the
present time the bank has surplus of
about So, 500. The bank holds the paper of
the Low Cattle company of Wyoming to
the amount of $50, 900. So far as can be
learned the deposits amount TO over $780,
600, and according 10 statements from a
quarter which is supposed to be authentic.
President Mcneil has appropriated this
amount. The belief prevails that an exam
ination of the books of the bank will de-
| a cfa TaNT Tafl
has not been heard from since Tuesday
| last. 1t is said that a resident of Clinton
saw him in Nashua, n. II. last Wednesday.
| Nothing further regarding the real condi-
ton of the banks finances will be known
for day or two, and possibly not then.
Bank Examiner Getchell SAYS he is deter
mined to sift the matter thoroughly.
LOWELL BADLY CAUGHT.
LOWELL, Mass, Jan. 1.-The city in
| stitution for savings has $50, 600 deposited
in the Lancaster bank, which has been re-
garded with distrust for some months.
McNeil's name was refused by one bank
here more than year ago. The city in
stitution has 1,000 depositors. and Charles
j. Glidden, treasurer of the Erie Telephone
company, is one of the Lowell depositors in
the Clinton bank.
SEEN AT FITcHBURG.
FIrCHBURG. Mass, Jan. I.-McNeil,
the missing president of the Lancaster bank
of Clinton, was at the depot here about
7:45 p. m. on Tuesday. and probably took
the Cheshire train for the North. One of
his acquaintances here twice tried to speak
| TO him. but Mcneil took no notice of him.
WORSE AND WORSE.
| WORCESTER, Mass, Jan. lone of the
directors of the Lancaster National bank
/ Of fc o,,sl fov-
| that Mcneil. the missing president was at
the bank Tuesday night, when he took
from the vaults $4,000 in bank notes.
81, 600 in gold and large amount of stock
! in the Rutland, VT, Marble company, sup
posed to be about S3, 600, and lot of paper
signed by himself and held by the bank, it
| is thought about $50, 600 worth. There
was in the vault considerable money be-
| longing TO the defHnct Lancaster Savings
bank, of which Mcneil was one of the re-
ceivers. portion of which is said to be
missing.
LITTLE BITS OF HISTORY.
BOSTON, Jan. Bank Examiner Curry
| said to-day that Mcneil is one of the three
receivers of the Lancaster Savings bank,
which was put under injunction ten years
ago. Seventy-two thousand dollars belong
! ing to the latter institution was deposited
in the National bank. Mr.. Curry says
both he and Commissioner Getchell have
had some suspicious that Mcneil was
speculating. A petition for IL per cent.
dividend was presented TO the supreme
court last Tuesday by the receivers of the
Savings bank and the final accounts and
books of the receivers had been turned over
for examination.
The Gladsom MuFderers.
/ GArIArIN No Ian -Inhn Smith