The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1888-02-10
HELD RESPONSIBLE.

President Mem, of the Broken Metro.
p@litan Nat onai Bank of Cincinnati, Ar
rested on 6harge of AIisappropria ing
Funds of the Iasitution.
CINCINNATI, Feb S-Yesterday President
Means. of The suspended Metropolitan Ma
tional B INK, was arrested on charge Of
breaking the law in allowing loans to
be made to bank officers There is
much sympathy for Nh. Means
His position 20 iticaly and socially is
in his favor. He has ever been a public
spirited citizen and has devoted his ener-
gies 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 president of the Ohio
Democratic Club He was one of the
founders and has always been an ardent
supporter of the Queen City Club, a high
grade social club. As mayor of Cincinnati
he showed wisdom, and by his contact with
the masses in that capacity endeared him.
self to them. In fact he is almost unver-
sally popular
President Means was charged with mis-
appropriating 1924 900 of the banks funds
by loans to himself He was arraigned be-
fore United States Commissioner Dorger
and his bond placed at 500 600. Henry
Hanna, May Fecheimer, c. NJ. Holloway and
P. E. Roach signed the bond, after which
Mr. Means was released
1t IS believed Cashier c. ". Edwards and
Directors E. n. Roth and George K Duck
worth of the Metropolitan Bank will be ar
rested Bank Examiner Sanders has pos
session of the bank, which has only
about $4,000 in coin in the vault
The bank officials claim about 800, 900
assets. President Means says that about IS
cents on the dollar will be paid. He says
suspension would not have occurred but for
sensational reports OF an unreliable after
noon paper.
The bank did not open yesterday morn
ing, q 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 connected with the bank say this would
not have happened if the Government had
not caused the arrest of the ex-vice-pres
dent.
The true inwardness of the failure shows
as rotten condition of affairs in the man.
agement of the Metropolitan as that char
acterizing the Fidelity Months ago, at the
time Bank Examiner Powell closed the
F1QellGy, ne was OrQereQ TO examine lnUC
the affairs Of the Metropolitan. He did so,
making a hurried examination and pro-
nounced it all right
The cashier states that there remains
about 100000 of the $1,500,000 de-
posit account 1t is thought depositors
will be paid in full, while stockholders
will be subjected to an assessessment of 10 to
8 per cent. on the par value of their hold
ings. It is developed that among
the directors there was ring COM
posed of President Means, Vice-President
Decamp, and Directors Gerkc Duckworth
and Roth. This quartette has invested in all
sorts of wildcat schemes, and had loaned
the money of the depos tors to each other
in an extraordinary manner, without any
security being given The amount thus
loaned in these investments alone will ex-
coed 5000, 900.
T A dispatch from Washington says the
Comptroller of the Currency is now consld-
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 connection,
and that an appointment will probably lie
made in few days.