Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1895-02-01
BANKS CLOSED.
rwo Institutions ut BinGhnmton. y.
", Fail.

Bank Examiner Prescott has closed tho
doors OF tho Chcnanco Valley savings Bank
IN Btnghamton, y. Y. ZEN ltng AN inycstisa-
ton. TIE Treasurer, Tracy l.. Morgan, has
confessed Il dedication of $IO0 coo. lii+
action was practpItatrd 10y "fTprt ON
the part OF Morgan and President Brown
son to carry away tho looks OF tho
bank about midnight. In th" sam" hnLlitnS
and under the same management Is tn"
Broomo County National Bank, witch wa'
examined last month 10y Bank Examiner
Backus and pronounced all right.
state Bank Examiner Elrkus has taken
charge OF the BroOme County National Bank,
acting under the orders OF tn" Comptroll"r
OF tho Currency. Tn" hank had Hu-
thorized circulation OF .2o 900 AMI was capt
talIzed at sl0O, 900.
All the securities anI cash OF the savings
bank were placed in the vaults OF tho Bing-
.hamton Savings Bank. Detective Robert
Stevenson was sent TO watch the building.
About B. 80 next morning he saw Brownson
and Morgan emerge from the bank, carry
ing u hushel basket between thom. II was
filed with books and papers, and each mnn
carried Il large bank hooN under his
arm. Tho officer stopped tho men
AMI insisted that tho property DO re-
turned to the bank after som"
argument Brownson and Morgan carried
the property back. Bank Examiners BnckuI
and Mooney were Immediately called ami
sent tOr an attorney, ksSOTirF hpDtTtS.
Mr.. Morgan was told that hn must not take
any property away from tho bank.
Bank Examiner Backus said al found tho
books OF this bank In IA horrible condition.
1T will be long time before they are straight
ened ont. Shortly after | came hora last
week | found out that some one had been
defaultng. | intimHted to Mr.. Nor
gan in mild way that ho IL
blame, and he said nothing. Lator | took
tho bull by the horns ant directly charged
him with it. He admitted ho had taken
the funds OF tho baI ! was taken
sick at the hotel, and Morgan and Mr..
BrowDson came to see me. / finally got
Morgan to admit that he hal taken tho
funds Of the bank, but | am not Ht liberty
TO tell all that he told me. ! then eau
toned both mon not to go noar tho bank
and against touching one OF the books or
papers. Morgan promised to keep away,
but subsequent events proved TINT | WINS
justified In taking the Swings bank funds
and securities to the BInghamton Savings
Bank
Morgan and BrOwnsOn are liable for
burglary In entering this bank and taking
out the books. II | had not had tho build
ing watched, I should have no books hero
to-day to work on. I certainly never found
u bank In such n condition.
az can't say how tho affairs OF the National
Broome County Bank stand and | do not
knew whether or not funds from the savings
bank have been transferred to tho National
cation has been. | hope It has not been SUI
1ciently large to break the bank. Il becnmo
absolutely necessary % close this bnnk until
we could find ont how It's finances stood
The last statement OF tn" savings bank
showed a surplus Of over sG7, 900.
There was heavy run on tho other snv-
ings banks in the city all day, hut money
came in on avery train, and the New York
banks said they would put II 900 COO into
the city If necessary.
Tracy T.. Morgan has been Mayor Of
Binghamton, and, during his thirty years
residence, has boen looked upon Hs an up
right citizen. He is about seventy nine years
! old. The bank examiner has found TINT
| during the past thirty years II correct trial
| balance had never been takon In TINT bank.
| The question is what has Morgan done with
| the money. 1t Is not known that ho was OK
| travagant or had any Woes. Not one Of the
employees knew anything Of his accounts,
! with the exception Of u yonng girl, who has
| for several years been MOrRan ns chicf helper.