Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1888-02-08
SINFUL WAYS AND MEANS
SEEM TO HAVE DCWNEo ANOTHER
BANK AT CINCINNATI

| inc Slhiches or Intls sam = Iouft-Anu
the Concern He Has Managed Under
Investigation-some Serious Charges On
Dit-A Voice from the Penitentiary.
CINcINNATI, o., Feb. s-The silence of the
tomb prevailed at the Metropolitan bank
Tuesday morning. 1t is located in new
brownstone structure called the United
Banks building, and occupies the western
half at the southeast corner of Third and
Walnut streets. A placard on the front door
announced to those interested, either from
curiosity or cash, that the comptroller of the
| currency, acting through Bank Examiner
Sanders was running things inside, where a
few clerks and the examiner were making an
lnvestig alton of the condition Of the concern.
The sensational features of the difficulty
were increased Tuesday by the arrest of
William Means, president Of the bank, which
was dons very quietly, and the culprit al
lowed to go voluntarily before the United
States officials, where he gave bond in Sl0,-
900 The charge against him was the mis-
appropriation OF the funds of the bank and
the specification was that he had loaned him
self S22i, 900. Mr. Means has had leading
position among business men for a number
Of years; has been reputed quite wealthy;
served term as mayor, when he
was elected, not by party vote,
but by n combination whose sup.
port was compliment to their candidate
To haze man Of such prominence put in
peril Of imprisonment causes a profound feel
ing. There is a fairly well authenticated
statement that the examination of the banks
looks and papers show gross violation of
the banking law in loans to officers and
others connected with the bank very largely
in excess of the limit allowed by the law TO
any one. II is possible that this wrong doing
may have been carried to such an extent
TO impeIil the banks solvency. At this time
it is not thought that other arrests will be
made, but of this no one can speak with Ger.
tuinty because there has not been time for
thorough examination of the banks affairs
Around town there was the usual floating
rumOrs. one being to the effect that Decamp5
personal liability to the bank will be $780,
coo. Ilo was not visible during the day. The
impression is growing stronger than eve
that the December statement was falsified,
and that Cashier Edwards may follow his
president ON the list of government victims
A report that the suspended bank would
pay 80 per cent. on its capital stock, which
was current during the day. appears to have
been rose colored. Figures furnished by
man who is thoroughly familiar with the
situation show that the bank can not hope
TO pay more than 60 cents, and it may be
only 80 cents Much of the paper held by
the Metropolitan, il has been asserted, is
doubtful, even if the best construction is put
upon it, When $500. 900 was recently added
TO the capital stock only 5000, 900 of it was
actually sold. The rest was put out as
collateral for loans making it debt against
the capital.
A matter that interests thousands of peo-
pie in this city ia the fact that the cashier
and assistant cashier are both connected with
several building associations that bad depos-
its the Metropolitan. 1t has been learned,
however, that some of these associations
checked out in time.
There is one difference between the case of
the Metropolitan and that of the Fidelity
and that is that thore is great public sympa-
thy for all the officers OF the Metropolitan
except Decamp. William Means is a genial
gentleman and is very generally liked. In
the case of the Fidelity there was almost
universally a strong feeling against the Off
GERS
The cashier states that there remains aboGt
$4,000 Of the 81, 800, 900 deposit account. 1t
il thought depostors will be paid in full,
while stockholders will he subjected to an
assessment of 10 to 10 per cent. on the par
value of their holdings. 1t is developed that
among the directors there was ring com
posed of President Means. Vice President
Decamp and Directors Gerke, Duck worth,
and Roth. This quartette has invested in all
sorts of wildcat schemes. aud had loaned the
money of the depositors to each other in an
extraordinary manner without any security
being given. The amount thus loaned in
these Investments alone will exceed 5000 900.
E. l., Harper, of the Fidelity, speaking of
the failure at the penitentiary at Columbus,
said Tuesday morning: at was the Fidelity
money that kept the METROPOLITAN from fail
ing last summer, and when Decamp was
Temporary receiver of the Fidelity all remit
tances received by Decamp for the Fidelity
were deposited in the Metropolitan. and it
was this money-some very large amounts,
once or twice being so, 600 and over a day
which kept the Metropolitan afioat. When
Dscamp gave IN the receivership and Arm