Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1888-02-10
4 SECOND PRECEDENT.
Another Cincinnati National Bank
Closed by the Government for
Violating the Banking Law,
The President and Vics-PresIdenf
Charged With MIsspprOpristiOR
Of the Banks Funds.
The Bank's Stock Used as Collateral on
Loans for the Purpose of spsculA-
ton In Real Estate.
DECIDED TO SUSPEND

DECIDED TO SUSPEND.
CINCINNATI, OHIO, Feb. THE Met
ropolitsn National Bank directors have
passed resolution to suspend. The
| bank is now in the hands OF the govern
ment. President J. r. DeCAmp has
been arrested.
THE PRESIDENT ARRESTED.
CINCINNATI, OHIO, FEB. Another
| sensational feature has been added to the
Metropolitan Bank suspension. 1t is the
arrest of the Hon. William Means, presi-
dent Of the bank. The warrant was is
sued this morning, but was not served in
the usual manner. Out of regard for Mr..
Means, District Attorney BrAmet notified
him sitter ~ O'Clock of the issuance OF the
writ and arranged for Mr.. Means to go
voluntarily with his boudsmen to the
commissioners Office at 2 O'Clock. With
| the Fidelity cases fresh in mind and with
| the proof they gave of the relentless
power Of the government where
there has.beeD plain transgression of
the law this arrest causes q decided
sensation. Mr.. Means has held leading
position among business men for num-
Der of years, has been reputed quite
wealthy and has served term as mayor
when he was elected, not by party vote,
but by combination whose support was
a compliment to their candidate. To
have man of such prominence put in
the peril of Imprisonment caused pro-
found feeling. There is fairly we'll au-
thentlcsted statement that the exsmina-
tion of the banks books and papers
shows gross violation of the banking
law in loans to officers connected with
the bank. It is possible that this wrong
doing may have been carried to such an
extent as to imperil the banks solYency.
At this time it is not thought that other
arrests will be made, but of this no one
can speak with certainty, because there
has not been time for thorough exam
| nation of the banks affairs.
EFFECT OF THE FIRST ARREST
! CINCINNATI, OHIO, Feb. THE silence
OF the tomb prevailed at the Metropolitan
bank this morning. II is located in the
new brown stone structure called the
United Banks building aud occu-
| pies the western half at southeast corner
of Third and Walnut streets. The wide
vestibule is used jointly by 1t and by its
neighbor in the eastern half of the build
ing, the Citizens National Bank.
This vestibule, of course, is open this
morning, but the door leading from it
into the Metropolitan Bank is closed and
placarded with the announcement that
the bank is IN the hands of the Comp
troller of the Currency, acting through
Mr.. Saunders, United States National
Bank Examiner. A few clerks can be
seen through the glass in the door and a
single watchmin lounges st the door of
the room OF the president. Small groups
of people enter the vestibule and look for
q moment in the vacated quarters Of the
great bank and read therein the lesson Of
the power of the national government. All
connected with the bank say this would
not have happened If the government
had not caused the arrest Of the ex vice
president. II Is true that the arrest
moved the other banks to withdraw their
offers OF assistance, but it may be that
the government acted mercitully in di-
verting their money from the Metropoli-
tan, for the charges made in the warrant
for Mr.. Decamp's arrest do not nee sssa-
rilY cover all that may be in possession
OF the government. More serious charges
than certifying to false statement of the
condition of the bank may be brought to
the notice of the grand jury.
BOTH GIVE BOND.
CINCINNATI, OHIO, Feb president
Means appeared this afternoon at the
Office of United States Commissioner
Doragen ard gave bond for his appear
snce in the sum Of $4,000. The charge
against him in the warrant is the misap-
plication OF upwards of 100000 of the
funds Of the bank Mr.. DeCamp also
gave bond for $4,000.
WHAT ONE OF THE DIRECTORS SAYS.
CINCINNATI, OHIO, Feb. IN chael
Ryan, one Of the directors of the Metro
politan Bank, attributes the failure to the
weakening influence Of the increase OF
capital he said that of the $500, 900 iu-
crease offered only $4,000 was sold and
the remainder WAS used SO collateral for
loans, thus becoming debt of the bank.
Moreover, as the stock was offered freely
for sale, the directors thought II best to
keep up its market value by buying it and
here sgatn In time WIS source OF embar-
rassment.
An evening paper publishes an inter-
view with E L. Harper In which he saws
he knew last summer that the banks
stock WAS being used as collateral on
leans for the purpose of speculation In
real estate. He added that bank exam
liner who knew how to examine could
hsve discovered that theD. In his opinion
nine-tenths OF the bankers of the country
could be put in prison to-day for viola
ton of the law, as he had been. The
United States grand Jury hiss been dis
missed for the week to enable the District
Attorney to prepare the Metropolitan
cases. The Indictment sgainst Mr.. W.
H. Chstheld, late director in the Fidelity
bank, wss nolle prosecuted to-day. 1t
WAS the same az that agsinst Mr.. Pogue.