The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-04-04

known. Shaw did not speculate IN the
stock market or gamble in any other
way. Neither is he known, or suspected,
of having any bad hapits. All this
makes his performance seem queer to
those who know him and some have to-
day limited that he may not have been
all right mentally. He has had consider
the Suffolk Cattle Company, the bonds
of which he holds to the extent of $1S,-
600. Just how he came into possession
of these bonds is not definitely known
although it is thought that he
Acted as Selling Agent
for them, as some of these bonds have
been placed in Bath, outside his hold
ings This isa Western company and
the bonds are not considered to be worth
now more than 25 cents on dollar. 1t
is surmised that when the nature of the
bonds became known, he may have been
obliged to take back some from custom
ers to whom he had recommended them
or that he may have used the banks
money to buy large block in the ex-
pectation that he would realize a profit
in disposing of them. There seems to be
no doubt that these bonds account for
portion of the shortage. Then he has
been acting as a capitalist in backing
several local tradeSmen. One of these
is John Mckiever, whose establishment
is on Centre street. Here, within a COM
paratively short time, McKiever has
branched out extensively, carrying the
greatest stock of carriages and harnesses
to be found in Bath. Good judges say it
is stock far in advance of the demands
of this region and one that cannot have
been profitable. 1t is thought that there
is from $4,000 to $4,000 in this
1t is also said that Shaw backed d. G.
Gould, a grocer, who was burned out in
the recent fire, and also Washburn, a
music dealer. The
Revelations Caused Tremendous Shock
in this city. Mr.. Shaw is about 40 years
old, and stood very high. So far as
known, no breath of suspicion was
breathed until Bank Examiner Hatch
made his discoveries. Mr.. Shaw was
never seen about the bank at irregular
hours, and everything appeared to run
smoothly. Personally he was regarded
as a very austere man. He was an active
parishioner at the Central street Congre-
gational church until four or five
L
radical Third Party Prohibitionist,
being several times the candidate for
mayor, the last time in 1892. Last fall
he was candidate for State Senator.
Politically he was called the '.off OK of
the family, his brother, John
O. Shaw, being a very prominent
Republican, the partys candidate
for mayor this spring and one.
Of Baths representatives in the Legisla-.
ture, where he was associated with an
other staunch Republican brother, Col.
Thomas P. Shaw of Portland.
Cashier Shaw's troubles have not
been caused by an extravagant house
hold. His house is an unpretentious
two story house on North street and
the family never attempted any stylish
display. He has a wife who is nearly
prostrated by the shock, and three
small children. Cashier Shaw has gen
orally been called man of some prop
erty. His salary was $4,000 yearly and
he has been considered worth $40, 900.
bank but it does not seem probable that
this sum will be realized from it.
The Lincoln National Bank is one Of
the oldest in the city having been state
bank before it was made national. Its
directors are among Baths wealthiest
men. Charles Davenport is president and
the other directors are Capt. Charles E.
Patten, lately elected mayor on the Citi-
zens' ticket, Levi w. Houghton, head of
that prominent ship building family, and
Charles Fl. Morsei and Charles Morse,
the tow boat and ice men, the latter be-
ing now president of the Clark & Chap
lin Ice Company. The bank is consider
ed perfectly
Able To Stand the Shock
and it is even said thatit may not lose
anything. Shaw's bond is $50, 900, Capt.
Charles E.. Patten, John o. Shaw and
John O. Patten, proprietor of the Bath
Times, being on it for $4,000 each. All
three are good for the amounts
against their names, although it is
hard blow for John o. Shaw, the
brother. He is nearly Frustrated by the
double calamity of his brothers disgrace
and his own liability, which deprives
him of the accumulation of years.
Cashier Shaw is very cheerful. He was
arrested Saturday, taken before Com
missioner Bradley and put under SIT 900
bail, pending his trial in the United
States court at Portland, April oath.
His counsel is Geo. r. Bird, Esq, and
his bondsmen are Payson Tucker and
John o. Shaw. Cashier Shaw is about
Bath today and has dropped into the
bank several times to give assistance to
the directors and the examiner. ''He is
the coolest one of the lot,'' said bank
man. Bank Examiner Hatch was seen
by the PRESS correspondent tonight but
absolutely refused to make any state
ment whatever in regard to the bank.
Captain Charles E. Patten was also en-
tirely mum. President Davenport tells
the PRESS that the bank is all right
financially but is non-committal as to
everything else.
The work of examining the accounts
has continued all today and all this eve
ming up to nearly midnight, the bank
examiner and bank officers being pres
ent and assisting. The directors, who
seem to have been as much surprised as
the public at what has been going on in
their bank for the last 10 OF - years, are
now anxious to know the whole truth.
The work of examination is tedious, and
it will probably be two days more before
No.