St. Paul daily globe., 1888-02-08
ANOTHER SENSATION.
President Means, Of the SuS-
pended Cincinnati Bank,
Arrested.
He Is Charged With Having
MiSuSed the Banks
Money.
Great Sympathy Felt for Him,
as He Was a General
Favorite.
Gross Violation of the Bank
Gross Violation of the Bank.
ing Law Said to Have
Been Ppaeticed.

AlNNlNNAIl. Ttp. I.-AltUlucE SCuSd-
tioual feature has been added to the
Metropolitan bank suspension. 1t is the
arrest of Hon. William Means, the 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 Burnett
notified him after II o'clock of the iSSu-
ance OF the writ and arranged for Mr..
Means TO go voluntarily with his bonds
men TO the commissioners office at 2
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 a plain
IranSgression of the law, this arrest
causes decided sensation. Mr.. Means
has had leading position among busi-
ness men for number of years; has
been reputed quite wealthy;
SERVED A TERM AS MAYOR,
when he was elected, not by party
vote, but by q combination whose sup
port was compliment to their candi-
date. 70 have a man of such promi-
nence pat in peril of imprisonment,
causes a profound feeling. There is a
fairly well authenticated statement that
the examination 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 to any one. 1t is possible that
this wrong dong may have been carried
TO such an extent as TO imperil the
banks sOlyency. At this time it is not
thought that other arrests will be made,
CNRQ1y
tainty because there has not been time
for athorOugh examination of the banks
affairs. President Means appeared this
afternoon at the Office of United States
Commissioner DOrger, with Henry
Hanna. May Frechheimer, Patrick E.
Roach and G. NJ. Holloway as sureties,
and gave bond for his appearance in the
sum of $4,000. The charge against
him in the warrant is the miSapplica-
ton of upwards of S2OO,OOO of the funds
Of the bank. Michael Ryan, one of the
directors of the Metropolitan bank,
ATTRIBUTES THE FAILURE
to the weakening influence of the in
crease of the capital. He said that of
the S5OO,000 Increase offered only $780,
600 was sold, and the remainder was
used as collateral for loans, thus becom-
ing debt Of the bank. Moreover, as
the stock was offered too freely for sale,
the directors thought it best to keep up
itSsmarket value by buying it, and here
again, IN time, was source of embar-
raSSment. An evening paper publishes
an interview with E. l.. Harper, in
which he says he knew last summer
that the banks stock was being used as
collateral on loans for the purpose of
speculation in real estate. He added
that bank examiner who knew how to
examine could have discovered that
then. In his opinion nine-tenthS of the
bankers of the country should be put in
prison to-day for technical violation of
the law, as he had been. The United
States grand jury has been dismissed
for week. to enable the district attor-
ney TO prepare the Metropolitan case.
The Indictment against w. Ii. Chattield,
late director in the Fidelity bank, was
nolled to-day. 1t was the same as that
against Mr.. Pogue.
SILENCE OF THE TOMB
prevails at the Metropolitan bank this
morning. The door is closed and pla-
carded with the announcement 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 watchman lounges at the door
OF the SumptuOuS room of the president.
Small groups of people enter the vesti-
bule and look for n minute OH the va
Gated quarters of the great bank and
read therein lesson of the power of
the national government. All connected
with the bank say this would not have
happened if the government had not
caused the arrest of the eX-vice preSi-
dent. 1t is true that the arrest moved
the other banks to withdraw their offers
of assistance, but it may be that the
governmet acted mercifully in
diverting their money from the
Metropolitan, for the charge made in
the warrant for Mr.. Decamp's arrest
does not necessarily cover all that NAV
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 its session iii a day or two. Mr..
Decamp had no difficulty in procuring
bondsmen to join him in his bond, which
was placed at $4,000, and he was not
kept in custody but while the bond was
being prepared.
WILL APPOINT A RECEIVER.
NAsHINGTON, Feb. THE comp
II OF the currency is now consider
ins the question of appointing re-
ceiver to wind mp The affairs of the
htllNiOillSl'l -NoliOIldI DG.lE OI ilnclll-
natl. Several names have already been
suggested to him in that connection and
an appointment will probably be made
I'm a few days. Examiner Sanders is
DOW i'll the Chicago bank.
THERE Is NOTHING BUT GOSSIP
about the great Metropolitan bank fail
ure to-day and tonight. 1t is theme of
themes. When f. l.. Harper went down
there was no sympathy for him. 1t is
dent Means. The feeling is strong in
his behalf. His position politically and
socially are in his favor. He has been a
public-spirited citizen and has devoted
his energies freely and energeticaIly to
the public service. He has served as an
exposition commissioner. In the opera
festivals and music festivals he has al
ways been prominent either as all
official or Il supporter. He has
been president of the Duckworth Dem
cratic club, and more recently was
president of the Ohio Democratic club.
He was one of the founders aud has al
ways t'een an ardent supporter of tue
Queen City club, high grade social
cluo. AS mayor of Cincinnati he
showed wisdom, and by his contact with
the masses in that capacity endeared
himself to them. In fact, he is almost
universally popular. No man i'm Gin
clnnati is better known. AS poll
tician he took strong grounds for pure
ballot, and was prominent in the COM
mIttee OF one hundred when that body