Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-11-13
BANK FUNDS MISSING
Warren Putnam Must Tell
What He Knows.
SOME ONE TOOK $4,000.
How He Conducted the Affairs of the
National Granite Bank.

EXETER, y. H., Nov. l3-Warren Il.
Putnam, president OF the n tonal q anire
5 ae bank of tpis city, was arrested in
Boston By United Stdes Deputy Mar
shal Gallup on charge Of embezzl ny
about S-7, ,U0O from the funds OF that insti-
tuition.
The arrest was made at the instigation
Of Arthur o, Fuller. lawyer OF Exeter,
ami the present receiver Of the bank. Put
nam has not ieen la Exeter since the 10th
OF October last, wheu he left without lay.
| X one word 10 the officials OF the bank in
relation to his des ination or his return
Exeter people have had a suspicion all
along since the bank passed into the
hands # Receiver Flu Ter that all WAS not
right when Putnam held sway. Even be-
fire the bank failed in July many inti-
mated that he was dishonest, and as "A re-
suit the deposits decreased materially.
When the collapse ca Q there were some
thing like so depUs tors In the institut on
aud about $4,000 anding to their credit.
The assets will pr badly figure up some
thing like $4,000.
Putnam's wildcat personal investments,
his neglect of banking methods aud MS
fondness for luxurious life had much TO do
with his downfall and the banks failure
He Is bacnelor, though people here say
that under the laws OF the state OF New
York he would be considered q married
man.
Was Trusted by All.
Putnam came here about score of
years ago, succeeding as cashier of the
Granite State bank Appleton Shute, who
departed for South America with 100000
of o. her peoples money which he has
never returned, nor has he ever come back
Before coming here Putnam served as
clerk in the First National bank Of
Lowell, Mass, and left because Of falling
health. He then worked for time with
an accountant In Boston. For l3 years he
served rs cashier in the bank here, and
did his work so well that he was truste
by all.
When he received his promotion to the
position OF president he grew ponpous and
began to get himself generally disliked
He seemed tn have boone afiluent, and
began making al estate purchases which
appeared TO be good investments, bought
an old homestead here valued at about
S20,0OO, and purchased horses and cattle at
random. On his small farm he now has
about Is specify gated, well-fed animals
doing nothing but "eating their heads
off +"
His family OF three years ago, consisting
OF father, mother and sister, came here
from Lowell. Mass, to live.
Troubles Came In = Bunch.
When Putham's troubles first appeared
last July, they came not in single file but
IN battalion, aud for n time he had the
sympathy OF nearly every one in town.
His mother di, d, aud his sister became
helpless invalid through "A paralytc shock.
just before the bank went under many
of his securities, which we're considered
good, became worthless, and to those who
knew of his dealings 1t became evident
that he was in financial straits. He had
gold mine somev here in Nova Scotia,
which he thought ne owned, but he found
that other stockholders had beaten him
out of it,
He had invested wildly in some far vest
ern electric street railway stock, Of which
he knew practically nothing and also had
Texas cattle ranch, In which deal he
ferced Professur Wentworth If Phillips
Exeter, the la'e Judge Stickney, ex-Sena-
tor Chase of Kingston, Rev. w. A. Patton
OF Kingston d others. Everybody in the
deal lost, aud lost heavily.
All of his property he e, aggregating in
value about S4O, 900, was found to be Ia avily
morCgag' d, y iucipally to b. Frank Fol-
som of Strathtm, ex-president of the
Granite Sac bank, and the taxes were
not paid on any Of 1t till after the property
VAS advertised for sale by the collector
The mortgages on nearly all of Put
MANS property have been within the past
few days, aud his remaining property has
been at ached for more than it's full value.