The times. [volume] (Richmond, Va.) 1890-1903, 1895-02-17
SHORYAGEoF OYER $i45,0O0.
Remarkable Delalcation Of Cashier Pi6Satt
Of The Bant Of Lexington.
THE STATEMENT OF TUE OFFICERS.
Stis Rinfsd That Others are Implicated In
the Emblem ement-ftGgatt Took
Large Amount With Him.

LEXINGTON, VA, Feb. 16.-Special.-
lhe defalcatlons of Cashier Charles NJ.
Flggatt, which has swamped the Bank OF
Lexington. the only banking institution
here. and the principal financial agent OF
all the people OF this (Rockbridge) county
with population % over thirty thousand
people. a large number of whom are pros
porous, well-to-do farmers, continues TO
be the all-absorbing topic. Business is
practically Suspended TO discuss the sit
nation and anxiously await some report
from the bank directors. The news OF
the banks collapse did not reach the
county until late yesterday afternoon
and this morning at an early hour
large number OF the county depos.tors
came in TO verify the report. which had
not received much crcd6nce at first but
when they got here they soon learned the
worst The bank directors. with experts,
have been in session since yesterday, con-
tinuously trying TO ascertain the banks
condition.
WHY ALL ARE SURPRISED.
All day long the streets In the vicinity
OF the banE building have been dotted
with groups Of prominent town and coun-
~ people. depositors and sureties on
Cashier Figgatt's bond. discussing rne
situation In all its phases, and the con
census OF opinion is surprise expressed
that Cashier Figga,t's defalcations, cover
ing a period OF twenty-three years-since
lS72-ehould have gone Undetected by the
president and board of directors OF the
bank. who are shrcwd, practical business
men, and personally interested IN the sue
cessful operation of the bank ana It's
affairs.
Late this afternoon the following state
ment was posted I'm tho banks WIN
dows. as a result of the work OF me
board of directors. and the lons-looke1-for
announcement upon which much specu-
lation had been made. was eagerly read,
after which the stiffness and surprise was
painful for a time:
THE BANK's STAT MTNr
The following statement shows the con-
ditscn of the Bank of Lexington. as near
as the examination, made somewhat hur-
riedly, but which is believed 10 be APP
proximately correct indicates:
Liabilities-Balance due depcstors and
banks. s19s. 4O2 a. This sum is made up
as follows: Balance due depositors, as
per ledger. sl67 4O2.42; due per statement.
apparently as per loose statements. 900;
balance due banks and bankers. $500.
Assets-Cash on hand, Sc 57312; cash tick
cts value. sl.129.20 Corporation BONDS.
s3o50o: manufacturing companies bonds
testimatedD. $1,000; bills and notes testi-
mated value). 1000; real estate and fix
tures. $4,000. TO balance, sCJ, .OOl0; making
$l9S. A.
CSigneD j. X. EDMONDSON.
Trustee.
SHORT OVER S1i5. 900.
This statement develops the astounding
fact that Figgat has swamped the $50 900
90 han FOL eft nj in nd
dition SO .9OO1O of the $1,000 belonging to
depositors. leaving in cash due deposit
ors the insignificant sum of s6.j73l2. The
bank Is therefore short SO 00.l0 in cash
with only n little over $500 with which
TO pay depostors $1,000
The Virginia Military Institute fund is
out about $4,000. which will materially
cripple that institution for a time, while
the fund of Washington and Lee Univer-
NY >, rs nothing. All the professors
and employees Of The latter Institution
were paid few days ago. and their
money was deposited in this bank.
FiGGATr TOOK Monty WITH HIM.
The collapse. therefore. leaves them in
a bad Xix.
A prominent director Of tho bank. IN
reply TO an inquiry If Mr.. FiSgatt, the
absconding cashier had taken any OF the
banks money with him, said TO news
paper man to-day:
There was a deposit OF 5000 made the
evening before the departure OF Mr.. rig
gait, Of which there was evidence, but the
money is not TO be found This state
ment would seem to explode the theory
held here, based upon the statement made
in a note left by Figgatt. that ne did not
carry a cent Of the banks money with
him, and IL is now believed that figgat
did take a large sum of money with
him Mr.. X. X. Goodwin. brother-in-law
Of Mr.. Flggatt, and an assistant In the
bank, was eXhonoiated by Ftggatt OF any
and all blame In the deia!cation.
OTHER PEOPLE MIXED UP IN IT.
Rumors are flying thick and fast from
all quarters that one of the most conser-
yative men on the board of directors has
stated that there are ether people mixed
up In this affair with Mr.. Figgatt, outside
the bank. and that interesting and start
ling developments are likely TO come 10
the surface. involving others. In a few
days II Is said that Figgatt left.here with
two large valises heavily packed, and IT
is surmised that IL was with funds OF the
hank. The closing of the bank involves
all branches of business, and viii serious
" cripple business here for some time
TO come. The County Treasurer's funds
were all IN this bank.
rFFoRTs TO CAPTURE HIN.
Steps have been taken to arrest the
fugitive cashier. and II Is believed 10 De
only a question of few days before ne |
Will be apprehended. as he Is man That
can be easily distinguished from many |
others. Mr.. Figgatt has been dlsslpated
man for years, and for "A year has drank |
hard. but he was not extravagant IN ms
aastes or expenditures, but a simple liVer.
What he has done with The vast sum OF
money is "A great mystery