The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-11-28

y. Is.
EUGENE FRANCE.
No particulars as to assets and liabilities
are ohtainable st this time. Mr.. Wappen-
receiver, and under whose complaint W r.
Book and g. s. Thomas. ex-president
and manager, respectively, of the bank,
were arrested last evening for embezze-
ment, made statement TO the PosT-IN-
TELLreEScER correspondent, to this effect:
"While Mr.. Book was president and Mr..
Thomas man ager OF the bank the former
went East, taxing $4,000 of the banks
best securities On these he claimed to
have borrowed 5000, and he placed the
amount to his own credit. Being threat
ened with prosecution, he returned the
securities.
Some time later Mr.. Thomas sold TO A.
]. kroenert $500 OF his bank stock for 40
cents ON the dollar, taking for the same
Mr. Kroenert's note for $500 and the bank
was to pay the remaining 81, 900 out of
the earnings Of the bank for tine purpose of
making Mr.. Kroenett a present of this
stock Thomas was 10 receive out of the
earnings Of the bank $50 month in addi-
ton TO his regular salary until the
81, 300 was paid to him. The money he
received in that way was turned over 10 Mr..
Book. who was president of the bank I'm
~
Mr.. Book; in other words, the bank was
paving Thomas for his stock and Thomas
was paying off his ind ebtedness to Mr. Book
out of the arnings Of the bank. Mr.. Benin
and others demanded that this thing be
stopped at once: that they had no right to
inappropriate the funds of the bank in
that manner They, becoming fright
ened, to cover their crooked
ness, voted Mr. Thomas an adj
ditional salary amounting to the
same until he should have received 81, 300
|, as large stakeholder. fearing that the
bank was being robbed and thu books
falslfisd, applied al once for a warrant and
for a receiver and had Book and Thomas
arrested for transportation of the funds
of the bank"
The officers of the defunct bank. inciud-
ing Book and Thomas, refuse to say any,
thing. az this time, for publication. but
state that they viii give out their side of
the case later on.
This morning Thomas handed back sew
eral deposits received by him yesterday,
after the insolvency Of the institution was
recognized by It's officials.
This failure, the FIRST bank suspension to
occur in Chehslis county. has caused con-
siderable excitement, but vas not unlocked
for. as il has been generally talked
for long time that the concern was not
operating on sound basis. But the
stockholders are mostly men of
means. and as they are. under the state
law, held responsible in double the
amount Of this stock, deposltors need have
little fear bat they will ultimately receive
100 cents on the dollar.
The preliminary examination OF Book
and Thomas. on charges OF erabezzlem4nt
and mlsappropriation OF funds, takes
place this afternoon.
President Kroenert. Of the assigned
bank. says that dspositors will be paid In
fail as soon as securities can be realized
on, which may take q long time.
The books Of The bank are being exported
today.
Wappeustein will push the criminal
prosecution against Book and Thomas to
the bitter end, and VOWS that he will surely
land them In WaIla WalIa.
Ii - not probable that anything serious
viii result TO other business concerns in