Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-02-08
A SECOND PRECEDENT.
Another Cincinnati National Bank
Closed by the Government for
Violating the Banking Law.
The President and Viee-President
Charged With MIsspproprIation
Of the Banks Funds.
The BANKS Stock Used a. Collateral on
Loans for the Purpose OF Specula-
ton In Real Estate.
DuCIDRD TO SUSPEND.

DHCIDED TO SUSPEND.
CINCINNATI, OHIO, Feb. THE Met
ropolitan National Bank directors have
passed q resolution to suspend. The
bank is now in the hands of the govern
ment. Yice-President j. r. DeCamp has
been arrested.
THE PRESIDENT ARRESTED.
CINCINNATI, ONO, Feb. Another
sensational feature has been added to the
Metropolitan Bank suspension. 1. 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 after u O'Clock OF the issuance of the
writ and arranged for Mr.. Means to go
voluntarily with his bondsmen to the
commissioner 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 been 8 plain transgression OF
the law this arrest causes a decided
sensation. MIR. Means has held leading
position among business men for num-
Der of years, has been reputed quite
wealthy and has served q term as mayor
when he was elected, not by party vote,
but by combination whose support WAS
compliment to their candidate. To
have q man of such prominence put in
the peril of imprisonment caused a pro-
found feeling. There is fairly well au-
thentlcated statement that the exsmina-
ton 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 solvency.
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
Tination D. the banks affairs.
y EFFECT OF THE FIRST ARREST.
CINCINNATI, OHIO, Feb. THE silence
of the tomb prevailed at the Metropolitan
bank this morning. 1t is located in the
new brown stone structure called the
United Banks building and occu-
pies the W. stern half st southeast c orner
Of Phird 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 yestibule, Of course, is open this
morning, but the door leading from it
Into the Metropolitan Bank is closed and
plscarded 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 @
single watchmsn lounges at the door OF
the room of the president. Small groups
of people enter the vestibule and look for
a moment In the vacated quarters of the
great bSnk and read therein, the lesson Of
the power OF the national government. Ali
connected with the bank cay this would
rot have happened If the government
had not caused the arrest OF the ex vice
president. It is true that thu arrest
moved the other banks to withdraw their
offers Of assistance, but it may be that
the government acted merciiuily in di-
Verting their money from the Metropoli-
tan, for the charges made in the warrant
for Mr.. Decamp's arrest do not necassa-
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 7.-President
hteans appeared this afternoon at the
Office OF United States Commissioner
D5rsgen and gave bond for his appear
ance in the sum of 5000 The charge
against him In the warrant is the misap-
plication of upwards of 5000, geo of tbs
funds Of the bank. Mr.. DeCamp also
gave bond for 5000
WHAT ONE OF TIE DIRECTORS SAYS.
CINCINNATI, ONO. Feb. 7-M'CaSel
Ryan, one of the directors of the Metro
oolitan Bank, attributes the failure to the
influence Of the increase of
;spitsl He said that OF the S500,0 in
crease offered only $50, 900 WIS sold and
,he remainder was used as collateral for
osns, thus becoming debt of the bank
Moreover, as the stock was offered freely
Ior sale, the directors thought it best to
Keep up its market value by buying it and
lere sgain in time WIS source of embar-
An evening psper publishes N int
view with E. L. Harper in which he says
Re knew last summer that the banks |
stock was being used as collateral on
oans for the purpose of speculation iu
.eal estate. He added that 3 bank exam
ner who knew how to examine could |
lsve discovered that then. In his opinion
1ine- tenths of the bankers of the country
could be put in prison to-day for viola
ion of the lew, az he had been. The
United States grand jury has been dis |
missed for the week to enable the District
Attorney to prepare the metropolitan
,sses.. The indictment sgsinst mr. W.
4 Chatfeld, late director in the Fidelity
bank, was nolle prosecuted to-dsy. It
vas the same IS that against Mr. Pogue.