The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1895-07-22
BANKS BOOKS MUTILATED
NEW DEVELOPMENT IN REGARD
40 WILLIMANTIC'S BANK.

They Are of a startling Nature-The Treas
urer Is Missing Together With the Ledger,
Cash Book and Daily Balance--rhe News
Spread Rapidly and People Left the
Churches In the Midst of the Services.
Willimantic. July 21.-Some startling
developments relative to the whitman
tic Dime Savings bank are announced
tonight. State Bank Examiner Sidney
Crofut has been here all day working
on the books of the bank, and tonight
he reports the books in a condition to
warrant the closing of the bank to-mor-
row morning. Last Thursday Bank
Examiner Crofut, together with State
Attorney John N. Hunter, made an ex-
animation of the bank, but did not
learn anything startling.
To-day 1t was discovered first that
Treasurer John L. Walden, son of the
late President James Walden, is MISS
ing, together with the general ledger,
the cash book and the daily balance.
An examination of the remaining books
showed that the real estate ledger had
been mutilated. A mortgaged note foM
$500 Is missing, together with five $100
railroad bonds, and there is deficit in
the cash of $4,400. 1t was found where
Treasurer Walden had drawn "a. check
to his account for 1000. The books are
said to be in a, terrible condition. and it
required all day to learn anything about
the banks affairs. The state bank ex-
aminer said tonight that as some $780,
900 of the banks loans are questionable
the institution is insolvent, Its liabilities
exceeding it's assets by nearly 100000.
He advises that the bank be closed to-
morrow morning. 1t is difficult to learn
much further regarding the situation,
though 1t Is understood the banks as
sets amount to $649, ,816.93.
John L. Walden, the missing treas
urer, went to Norwich Thursday in
company with the banks attorney for
the purpose of raising money for the
bank. He was unsuccessful In his ef-
forts and returned to this city at 3:45
o'clock in the afternoon. The last seen
of him was at 7:30 o'clock that evening,
when he left his bicycle at the bank.
1t cannot be ascertained at this hour
that Walden purchased a ticket at the
railroad station here. or that he board
ed a train again that night. In fact, he
Seemed to have been completely lost
when he went to the bank that even
ing.
Efforts have been made by his wife
and father to locate him, but without
avail 1t cannot be learned that an at
tempt has been made as yet to negoti-
ate the mortgage note or the bonds, but /
riaey may have been. discounted at a
bank some distance from Willtmantlc
and not have reached this city as yet.
The police all over the New England
states have been notified to be on the
lookout for walden, and his descrip-
tion has been te1egraphed all along the
coast as far south as Washington.
Walden is young man scarcely
thirty five years of age, married and
has one child. He was well known In
Willimantic and liked by all who knew
him. He had been employed by the
bank for some time and was always
considered one Of Its most trusted en-
pioyes. His father and wife believe
him innocent of the crimes with which
his name is coupled tonight, and as
sert that his disappearance is only a
co-fncident They insist that he will
4
tion against him. The police, together
with Bank Examiner Crofut, are Of
the opinion that the evidence against
him Is overwhelming. The mutilation
of the real estate ledger was very care
fully accomplished, and was done in
such way as to make the detection
of the missing mortgage note almost
impossible. The authorities say the
books were manipulated In an expert
manner, and that the method was
very simple.
The affair has aroused the residents
of WillimAntic to a greater extent than
did the news of the failure of the First
National bank short time ago, and the
widest kind of excitement prevails
here. Depositors thronged about the
bank Tonight in hopes of obtaining ad-
ditional information, but beyond ru-
mors, the widest Of which are af1oat
little was to be learned other than the
facts outlined above. A receiver will
probably be appointed the first thing
tomorrow, and the banks doors closed
pending thorough investigation by
the state bank examiner.
Although reassured as much as posi-
BILE by the stable men of the city, and
the bank examiners, the depositors
have become uneasy every since 1t be-
came known that the savings bank
was involved In the defunct national
bank affairs. In the early stages of the
crisis the depositors, who are to q large
extent of the laboring class, were nat
nrally restless and uneasy. They i'm
portuned the officials of the bank to
give them their money. It now trans
pires that the officials were as help
less as the depositors themselves So
pressing did their demands become
that the bank was constrained to lake
refuge behind the laws Of the state of
Connecticut, and accordingly they post
ed notice that no deposits would be
paid over until ninety days had elapsed.
Nearly half a million dollars had
been entrusted to the bank by small
depositors. OF this 100000 about $685.
900 was made due at the expirati ton of
ainety days, the depositors for that
amount having complied with the con-
ditions of the notice, and asked that
their money be returned to them at the
expiration of the ninety days. The
ninety days elapse on Tuesday of the
present week By the laws the hank