Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1888-02-15
HELD RESPONSIBLE.

Freaidont Means, Of tho Broken Metro.
pIIitan National Hank of Cincinnati, Ar
rested ON y Charge Of Misappropria sn4
Funds of the ms Tuition.
CINCINNATI Feb 9.-Yesterday President
Means. Of The suspended Metropolitan Ma
Iona Bank. was arrested on u charge Of
breaking the law in allowing loans to
be made to bank Officers There il
much sympathy for Mr. Meanz
His positio,, 70 itical,y and socially is
III his favor He has ever been n public
g.es freely and energetically to the public
service He has held many offices Of honor.
He has been president Of the Duck
worth Democratic Club, and more
recently was pres dent of the Ohio
Democratic Club He was one Of the
founders and has always been an ardent
supporter of the Queen City Club. high
grade social club As mayor of Cincinnati
he showed wis ION, and by his contact with
the masses in that capacity endeared him.
self to them. In fact he Is almost uniyer-
sally popular:
President Means was charged with mis-
appropriating 1924 900 of the banks funds
by loans to himself He was arraisned be-
fore United States Commissioner Dorger
ord his bond placed at $50 600 Henry
q 'nna, May Fecneimer, G. NJ Holloway and
r E. Roach signed the bond, after which
Mr. Means WIS released
It 3 believed Cashier c. W. Edwards a7d
Directors E. n. Roth and George K Duck
worth OF the Metropolitan Bank viii be ar
rested Bank Examiner Sanders has pos
session OF the bank, which has only
a. out $1,000 in coin in the vault
The bank officials claim about 800, 600
| assets President Means says that about IS
cents on he dollar will be paid He saws
| suspension would not have occurred but for
| sensational reports OF an unreliable after
| noon paper.
The bank did not open yesterday NOM
| ing, placard announcing that the bank
is in the hands Of the Comptroller of the
Currency, acting through Mr.: Sanders, the
United States National Bank Examiner:
All co inected witch the b INK say this would
| not have happened if the Government had
not caused the arrest OF the ex-vIce-presi-
den.
The true inwardness of the failure shows
as rotten condition of affairs IN the man.
! agement of the Metropo itan as that char
act1r;zing the Eide ,ity. Months ago, at the
time Bank Examiner Powell c.osed the
Fidelity, he was ordered to examine into
the affairs of the Metropolitan. He did so.
| nonnced it all right.
The cashier sta es THAT there remains
about $500, 600 of the 81, 5000 de-
post account 1t is thought deposltors
viii he paid in full. while stockholders
will be subjected 20 an assessessment of 10 to
Is per cent on the par value of their hold
ings It is developed that among
the directors there was ring COM
| posed of Pres dent Means, Vice-President
Decamp, and Directors Gerkc, Duckworth
! and Rovh This quar- .ette has invested in all
sorts of wildcat schemes, nn1 had loaned
| the money Of tie depos tors to each other
L.. an extraordinary manner, without any
security bs ng given. The amount thus
loaned in these investments alone will ex-
| coed $500, 600.
A dlspa,ch from Washington says the
Comptroller OF the Currency is now consid-
| ering the question of appointing receiver
to wind up the affairs of the Metropolitan
National; that several names have already
been suggested TO him in that connec. ion,
| and that an appointment will probably le
! made in a few d, ys.