St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1893-11-30
A BIG SWINDLE


amattcr # history and us cafcrr
eulsd none too soon its ORGANIZER
Is now under arrest and his where.
shouts unknown Its honest and
duped cashier Is aai 10 Ba'toH
awaiting developments The his-
tory of the bauk turuishes an later
estiug story and j. sea herewith
About s1 weeks awn an app'a.e-
tion iaf q charter ior g. o,-..' Bank
fRtrtan vs. ared with the county
ririk "a Newport sud with SECRETARY
81 STAT, Brownel at Burlington
Tn application Nas filed 10 accord
ancc with the slate banking laws.
oug provision % which Is that three
fouflhs az chs ipcorp gators mist
b. residents at Nrfmaaf fbe paper
stated that he subscribers were $50
form on association for the pafpose
81 establishing al Once 81 discouut
and " carrying on a general bank
Jog Business. pursaapt 10 aud lE con
foruity with the laws Of Vermont
The bank Was "a have q capital
stock ct $50 900 10 SHARES ~ 800
each. and q charter u.s. wsuted foY
~ years beginning OF 20. 1893
The "a yscribers were Thomas <
Brewer. Of New york 475 shares
Chades A BrsWcrof Buhington 10
shares John J OPaucll Burlington
8 -harcs Joseph A Lind, Rutland
8 shares rhs only man that has
ever been secn in Blrtoa was T &
Brewer and u thrre wer any sueh
p,rs %, az thg % her -four iuc1rp8ra-
tefs. they afvef usitei in vermont
Soon after chs chauer was graut-
ed v "a Miles oi Barton. e well
hnown lavvcr and states lttornev.
received "a lcfter from Nrw York from
7 & Brewer. who wa at that time
aerirct strange to ans one n Bar.
tea Nj Brewer sisted that he
represented a New VII syndicatt
Who had lot ~ po4cy locl ~ %
81 70 lR IN New f.rk and tka. they
Drnti scd 80 locate statc bank I'd
Hiuon iir rnll1scd COPS of the
charter. WhWh aas properly go
dn5ssd b. thr secretary ol state al
Rarsfgtor. l1gs.yct aekcd ST.
Ni.es TO secure bauking ROOMS tor
the uew institution. ana as every
thing looked all right on paper Mr..
Miles secured room over Oscar
ID Owens store and adjoining the
Monitor office
The first man TO appear in Barton
WIS the cashier OF the institution
Francis Heine. He saw an advrr
tisement in a New York paper for a
cashier, answered the advertisement
and was engaged by Brewer. Mr..
Heine had never seen Brewer before
and supposed it was a legitimate
banking business. Brewer made the
cashier procure references and also
file a bond Of $4,000. He told the
cashier that Joseph A. Lord,
wealthy New Yorker now living in
Rutland, was the president OF the
bank and showed Mr.. Heine Presi-
dent Lords bond for $4,000. OF
course this was a bogus document.
Cashier Heine began to get the
banking fixtures in order and waited
patiently for the president to appear.
On Saturday, Nov. Is. Mr.. Brewer
made his first visit To Barton and
explained to the cashier that the
president was dangerously sick and
that the bank would be opened with.
out him. On Monday morning
preparations were made for bring.
ing the safe from the depot and no
tees were sent TO the banks in this
vicinity, that the State Bank of
Barton had begun business on Mon.
day, Nov. 20, 1893. Big display
advertisements were sent to all the
papers IN this vicinity and two coun.
~ papers printed the advertisement.
ii reads as follows: We will do an
honest, legitimate banking and dis
count business IN this section. and
will extend financial aid to any en-.
terprise looking for the development
aud improvement OF this locality.
The bank will be under the manage.
ment of able and conscientious peo-
pie who will do their share to make
the bank a success and we ask the
people to do theirs. The best plan
for saving is to invest your savings
with us and receive in return time
certificates Of deposit bearing 4 5
and 6 per cent interest per annum.
Commence today il only with a dol.
lar" The advertisement contained
as director these names: Joseph A..
Lord, president; Thomas {. Brewer,
treasurer American Investment Com
pany of New York; Francis Heine,
cashier; w. w. Miles, attorney, Bar.
ton; Oscar d. Owen. merchant,
Barton.
The Barton men had promised to