Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1895-02-22
PARTICULARS OF THE BANK
WRECK AT LEXINGTON.
Cashier Chas. M. Figgatt,s FAN.

L xiugton, Va, Feb. 1.-THE
statement shows the
condition of the Bank of Lexing'
ton as near as the examination,
made somewhit hurriedlv, but
which is believed to be approx
imately correct, indicates:
Liabilities. B ,lance due de-
posItors and banks, SlsS, 4O2 AZ.
iris sum Is made up as follows:
Balance due depOsltors as per
ledger, sl67, 4O2 u; due per state
ment apparently az per loose state
meuts, $25, 1000; balance due banks
and bankers, $4,000.
IA ssets.-Cash on hand, So 57S
~; cash tickets, valne, Sl,l292O;
corporation bonds, 920 800; manu-
featuring cOmpany's bonds, estl'
mated, 81 900; bills and notes, es'
TINA ed valne, 100000; real es'
tate aud fixtures, 81 200; balance,
sos, 200 10, making Sl9S,4O2 AZ.
81. X Edmond ION, Trustee"
This statement develops the
astounding tact that Figgatt has
sSamped the $50, 600 of the banks
capital stock aud, IN adj lition,
S65. 400 10 of the $4,000 belong
ing to depositors, leaving cash due
depositors the insignificant sum OF
S6,572 10.
The bank 10 therefore short,
S65. 900 10 in cash, with only a lit
tie over $4,000 with which to pay
deposltors $4,000.
The Virginia Military Institute
fand is out about $4,000, which
will materially cripple that in stiiu
tion for time. While the fund OF
Washington and Lee University
loses nothing, all the professors
and employees of the latter lnsntu
ton were paid few days ego and
their money was deposited in this
bank. The collapse, therefore,
leaves them in bad fix.
A prominent director OF the
hank, in reply to an inquiry 1t Mr..
Figgatt, the abscOnding cashier,
had taken any of the banks money
with him, said to a newspaper
man yesterday "there was depo'
sit of $4,000 made the evening be-
tore the departure OF Nc. FIggatt,
of which there is evidence, but
the money is not to be found"
which statement would seem to
explode the theory held here, based
upon statements in note lett by
Mr.. Figgatt, that he aid not carry
4 cent of the banks money with
him, and it is now believed that
Flggatt did take. large sum OF
money with him. Mr.. r X. Il d
win. brother.In law of Mr.. Figgatt
and an assistant 10 the bank, was
oxonerated by FIggatt of any aud
all blame IN the detalcatiop. Ru-
mors airs &, wing thick aud fast from
all quarters, that one of the most
conservative meu on the board OF
directors has said that there are
o her people mixed up IN this at
fair with Mr.. Figgatt outside OF
the bank, and that interesting and
startling developments are likely
to come to the surface involving
others in a few days.
TIE closing Of the bauk involves
all branches of business, and will
seriously cripple business here for
some time to come.
The county treasurer's funds
were all in this bank. Steps have
been taken to arrest the fugitive
c asher.
The defalcatlons of Cashier Fig
gait. which has sWamped the only
J banking institution here and the
principal financial agent of all the
people of ROckbridge county with
II population of over 10000, a large
number of whom are prOspe. 0 s,
well.to do farmers, continues to be
the all.absorbing topic. Business
| is practically suspended to discuss
the situation and aDxlOus'y awaits
some report from the bank direc-
tors. News of the collapse did not
reach the county until late Friday
afternoon, aud yesterday morning,
at all early hour, large number
Of the country depOsitOrs came in
to verify the report, which had not
received much belief at first, bit
when they got here they soon lear
ned the worst.
Tue bank directors, with experts
had been in SESSION since FRIDAY
continuously trying to ascertain the
banks condition. All day long the
streets in the vicinity of the bank
building have been dotted with
groups of prominent town and
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