Daily Kennebec journal., 1893-04-04
$4,000 GONE.
Cashier W. R. Shaw Of Lincoln
National Bank, Bath,
Used Banks Funds to that Amount
in Speculation and Lost It.
A Great Shock to the Citizens-placed Under
Afrest-he cosisssss.

Bath, April 3.-Oar city has been
| thrown into the greatest excitement by
the report that William Il. Shaw, the old
and respected cashier of the Lincoln Nat
ional Bank, is defaulter in a large sum.
When the bank examiner went over the
accounts Friday, he noticed that several
items did not balance, and Immediately be-
gan a more through investigation. After
little while he asked Mr.. Shaw about it
and after several incoherent answers OBJ
tanned confession of wrong doing.
The deputy u. S. marshal arrived Sat-
urtiay and placed him under arrest.
Capt Charles Patten was placed in charge
of the bank and thorough examination IS
being made. About SIP 600 shortage ap-
pears at once in the cash account and it is
supposed that there is upwards of $4,000
more in the change of sums to the credit of
depositors, the exact sum not being yet
known. The bondsmen are John o. Shaw
John o. Patten, Capt. Charles Patten and
Capt. Charles Morse.
Mr.. Shaw owns quite lot of real estate
which has been attached. 1t is supposed
that speculation, dating back considerable
time, is responsible for his downfall. Mr..
Shaw has been one of the most prominent
men in the place and supposed to be para
gon of integrity. lie has been the candi-
date of the Prohibitionist party for senator
and other responsible positions.
He was very close mouthed man and
not general favorite.
A preliminary hearing was had Saturday
and he was released on bail.
The Lincoln National Bank is one of the
most conservative of the many old time
banking institutions of Bath. Its president
is Charles Davenport, probable the wealth.
lest man in Bath and one of the weslthiest
in Maine, an old-time gentleman who has
his money now because he never wasted
any when he was a young man. The capi-
tai stock of the bank is $500, 900, and it
occupies rooms beneath the Sagadahoc
in pleasant suit remodelled a number of
years ago.
Bath has four national banks, and with
the exception of the First National, of
which Galen c. Moses, Esq, is president,
this has the largest capitalization, the First
National having the same. So far as Mr..
Davenport and The board of directors go,
the Lincoln National bank must have sub
mtted to and been governed by business
rules.
Mr. Davenport is reported to be most
careful business man. No man in Maine
ls earlier or later at his business. He has
ma he his money and like men of his type
he is reported to keep both eyes on it all
the time.
Mr.. Shaw has been cashier for many
years. He was a native of Bath, educated
in her schools and well known everywhere.
To say that his defalcation Is a surprise is
to put it mildly. He has been prominent
10 many social ways for years.
Shaw's salary was S250o year. Three
years ago he intended to go to Oregon and
embark in business there, hut the directors
by raising his salary induced him to stay.
The directors of the bank have little to
say.
Charles Davenport, president of the bank,
said that the defalcation would not impair
the bank or cause loss to the depositors las
rs the bank has surplus os 100000 and
nearly $1,000 profits. Shaw's bond as CASH
ier is $50, 900.
Three years ago Shaw invested large
amount of money in the harness and car
rage business He built large carriage
repository on Centre street and put in a
heavy stock of goods. This investment
is placed at S25 900. His bail of Sl7 900
was furnished by his two brothers. Shaw
has II wife and four children.
Mr.. Shows bond to the bank was S30,-
| 000 and three men on it are well-to-do, the
two Messrs. Patten being wealthy.