Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1895-07-22
FLED WITH THE FUNDS.
Willimantic Savings Bank Treasurer
Plays the ScOundrel's Part.
The Institution Left Practi-
cally Insolvent.
4 Receiver to Be Appointed For the lll.Faisd
Bank 10 Protect Creditors

wLLIMANT1c, Conn, July 22.-Bank
Commissioner Crofut announces that from
discoveries made since his examination Of
the Dime Savings bank week ago, the in
stitution Is insolvent by mt least $30, 900,
and that he sees nothing TO be done but To
close the bank JohHeWalden, who for Is
years was cashier of the bank and who re-
signed last Wednesday mt the request OF
the corporators, has disappeared.
The general cash book and the daily bal
ancc book cannSt be found, and the real
estate book Is badly mutilated. Tho time
lock OF the safe has run down and the key
is gone. An officer has been placed In
charge of the bank. The Dino Savings
bank has been having hard struggle ever
since the recent failure OF the First Ma
tional bank through the dcfalcations OF
Cashier Risley. The bank commissioners
have been In charge of the Dime Savings
bank, and il was hoped both by the ofli-
cials and corporators that plans might be
perfected for the continuance OF the insti-
tuition. To this end 90 days notice from
depositors wishing to withdraw was an
nounced and IA 10 per cent scale.
. Last "Wednesday the corporators met to
perfect plans for the reorganization before
the first of the so days notice should ex-
pire on July %. At this meeting the resig-
nation of Cashier Walden was requested,
and It was at once presented and accepted.
Another meeting was called for Friday, ut
which time 1t was voted to increase the
board Of corporatOrs by eight, and final
meeting for the election OF officers was ap-
pointed for today. Meanwhile, Commits
sioner Crofut had appealed to the supreme
court for an Injunction TO prevent run
on the bank when tho notices come due
today.
Finances In bad Shape.
This application was refused, and 1t at
once became apparent that a receiver must
be asked for Commissioners CrOfut at
once came here to begin final examina-
ton Of the affairs OF the bank, when to
his astonishment he found shortage of
more than $4,000, recorded loans Of a
doubtful nature aggregating $4,000 and
the books missing and mutilated, barring
further investigation. To add to the diff
GUILTY, it was found that the safe could not
be opened, the time lock having been per-
mitted to run down, and no key could be
found to wind 1t again.
In view of these complications Com
missioner Crofut decided to at once de-
tors will be called together at Q o'clock
today to hear the report Of the COM
missioner, whose discoveries have all
been made since an examination made
July IL.
These gentlemen are appalled, at the
disclosures, and thoy refuse to say any.
thing before having heard the report of the
commissioners. Considerable excitement
prevails, for the story has spread with the
greatest rapidity.
Concerning the missing cashier there is
much talk. He had been cashier for 10
years. and up to short time ago was con-
sidered perfectly sound. At that time the
corporators of tho bank became dissatis.
fed, and the feeling eliminated last Fri
day in the request for his resignation. He
left town on Friday morning, but in.
formed his wife that he would be back for
supper. Since that time nothing has been
seen of him about here, and his present
location is q mystery.