The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1891-05-19
PERCIvAL's POPULATIONS.
He Robbed the Bank of $50, 900
what the Directors Say.

AUBURN, May 1S.-The directors of the
Shoe and Leather Bank today made public
their report to the stockholders concerning
the affairs of the bank in connection with
the shortage of ex-Cashier Percival. The
directors say:
On the morning of April A. - 4 word came to
US that Mr., M: G. Perciyal, the trusted CASH
Ter of the National Shoe and Leather Bank
since its organization sixteen years ago, had
attempted suicide. 1t Is needless to say that
the news was tremendous shock to the di-
rectors of the bank, and coming as 1t did on
the morning OF the day on which Mr.. Perci-
was to turn over his duties to his successor,
the event naturally associated itself with
the affairs Of the bank.
/ The directors and the newly elected
cashier, Immediately sought to verify the ac-
counts as lett by the retiring cashier. The
accounts were found to be in much confu-
sion, anc early in the afternoon such ire
gularities were discovered that it was
thought best to ask the National Bank Ex-
aminer, Mr.. +. W. Parker of Lewiston, to
come and look into the affairs and decide
what should be done. Mr.. Parker came and
before night decided to commence thor
ough and official examination of the c0ndi-
tiOn OF the bank.
When it became evident that there was a
shortage In the funds of the bank, the dlrec-
tors Immediately set about protecting the
bank from loss. as far as they were able, by
obtaining possession of such property OF all
kinds as was in the hands of the Iate cashier.
Ihey also sought to prevent, so far as possi-
munity and the circulation OF exaggerated or
unf0unded rumors which might result in in
jury to the National Bank or the Mechanics
Savings Bank, doing business in the same
rooms, or to any of the business interests Of
the community.
The various misaprropriations of the
cashier. in the different ways and methods
to which he resorted, appear to amount to
S1S0.715 the largest sum arising from issuing
certificates of deposit and cashiers checks
and not accounting TO the bank for the mon
ey received for them. There was quite a
shortage in cash, which was covered by in
correct entries to make the accounts to ap-
pear to balance. Some of the accounts with
depositors are found to be incorrect, being
smaller than have been credited on deposit
tors pass books.
The credits with corresponding banks in
several instances appear larger on the books
OF the bank than they really were; and its
accounts with these corresponding banks
were incorrect In other ways, fictitious debts
and credits, to very large extent being made
on the books OF the bank. indicating trans
actions with other banks which never took
place. All these irregularities were adroitly
manipulated aud skillfully concealed.
The directors of the bank have obtained
perty of various kinds. through the late
cashier, which they estate will be worth to
the bank, Immediately or in the near future,
S62,lO7 and which the Comptroller allows
as available assets.
There is other property assigned to the
bank, which we reckon will be worth at
least $4,000. The bond of the late cashier.
$4,000, will reduce the loss to SIS. sos. The
surplus and undivided profits, according to
the books of the bank. amount to S51, ,1SS.
Deducting this from the loss shows the
capital to be impaired 1915
Inc comptroller of the currency has order
ed an assessment on the capital stock OF 10
per cent. amounting to $4,000, which will
little more than make good the Impairment
OF the capital stock.
The case OF the late cashier, so far as 1t re-
lates TO criminal proceedings, is In the hands
Oh the government and the result Will doubt
less be given to the public In due time.
Inc directors of the bank are under great
ooligatlons to the business people OF Auburn
and citizens generally, for their manifesta-
tlon OF confidence in the managers OF the
bank and for the freedom from excitement
ana unnecessary alarm everywhere notlcea-
Die also TO the customers and deposltors OF
the bank for their expressions OF confidence
and goodwill, many of whom made their de-
posits as large and their drafts as small as
possible when 1t was thought the bank most
needed funds.
We are also under great obligations, and
wish to express our gratitude, TO the banks
In Portland and Boston with which we have
business relations, for their words OF sympa-
thy and offers Of financial assistance.
trouble, and without solicitation, we re-
ceived offers of immediats financial help
amounting to many times our possible needs
to meet the most unfavorable contingency.