The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-02-08
LANDING BIG FISH.
OFFICERS OF THE METROPOLITAN
BANK IN CINCINNATI ARRESTED.
President William Means, One of the
Most Respected Citizens, Put Under
Bond - Misappropriation of Funds
Charged.

OnafBeu.
Cf9cINYArI, O., Feb. THE silence OF
the tomb prevails at the Metropolitan
bank this morning. 1t is located in new
brown stone structure called the United
Banks building, and occupied the western
half at the southeast corner OF Third and
Walnut. A wide vestibule is used jointly
by il and by its neighbors in the eastern
half Of the building, the Citizens Ma
tional bank. This vestibule, of course, is
open this morning, but the door leading
from ii into the Metropolitan bank is
closed, and placarded with the announce
ment that the bank is in the hands OF the
comptroller OF the currency, acting through
Mr.. Sanders, the United States national
bank examiner A few clerks can be seen
through the glass in the door, and single
Waterman lounges at the door of the
sumptuous room OF the president. Small
groups of people enter the vestibule and
look for moment in the vacant quarters
OF the great bank and read therein les
son OF the power Of the national govern
hh'ht. M tObll'tlth WIN 'bhih soy
this would not have happened ii the gov
eminent had not caused the arrest OF the
ex-vice-president. 1t is true that the ar
rest moved the other banks to withdraw
their offers OF assistance, but il may be
THAT the government acted merciiully in
diverting their money from the Metropol-
itan, for the charge made in the warrant
for Mr.. Decamp's arrest does not neces-
sarily 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, which, by
the way, will begin It's session in day or
two.
Mr.. Decamp had no difficulty in procur-
ing bondsmen TO Join him in his bond,
which was placed at $40, 900, and he was
not kept in custody but while the bond
was being prepared. Another sensational
feature has been added 10 the Metropolitan
bank suspension. IL is the arrest Of the
Hon. VIM. Means, the president of the
bank. The warrant was issued this morn
ing but was not served in the usual man.
ner out of regard for Mr.. Means. District
Attorney Bunet notified him after -
o'clock Of the issuance OF the writ, and ar
ranged for Mr.. Means TO 90 voluntarily
with his bondsmen 10 the commissioner
office nj o'clock. With the Fidelity cases
fresh in mind, and with the proof they
gave Of the relentless power OF the govern
ment where there has been q plain trans
erosion OF the law, this arrest causes de-
cided sensation. Mr.. Means has held n
leading position among business men for q
number OF years, has been reputed quite
wealthy, served term as mayor when he
was elected, not by party vote, but by a
combination whose support was a comph-
ment TO their candidate. To have man
OF such prominence put In peril Of inn
prisonment causes profound feeling.
There is q fairly well authenti-
Gated statement that the examina-
ton OF the banks books 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 10 any one.
II is possible that this wrong dong may
have been carried 10 such an extent as 10
imperil the banks solvency. At this time
il N not thought that other arrests will he
made, but Of this no one can speak with
certainty, because there has not been time
for thorough examination Of the banks
affairs.
President Means appeared this afternoon
at the Office Of United States Commissioner
Dorger with Henry Hanna, May FETCH
heimer, Patrick 4. Roach and q. VI. Hol-
loway as sureties, and gave bond for his
appearance in the sum OF sc, 900. Tho
charge against him in the warrant Is the
misapplication Of upward OF s2000O0 OF
the funds Of the bank.
Michael Ryan, one OF the directors OF
the metropolitan bank, attributes the fail
urc 10 the weakening influence OF the in.
crease Of the capital. lie said that Of the
$4,000 increase offered, only 500, 900
was sold and the remainder was used rs
collateral for loans, thus becoming a debt
OF the bank. Moreover, as the stock was
offered too freely for sale, the directors
thought II best TO keep up its market value
by buying Il, and here again, In time, was
source Of embarrassment.
An evening paper publishes an interview
with T.. J.. Harper, In which he says he
knew last summer that the banks stock
was being used a. collateral on loans for
the purpose Of speculation In real estate.
lie added that bank examiner who knew
how 10 examine could have discovered
that then. In his opinion nine-tenths Of
The bankers Of the country could be put in
prison today for technical violation Of the
law, ms he had been.
The United States grand jury has been
dismissed for week, TO enable the dis
trict attorney to prepare the Metropolitan
- cases.
The indictment aeninst Mr.. w. ". Chat
field, late q director IN the Fidelity bank
WIS nolled today. II was the same as
that against Mr.. pogue.