The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-10-14
A CASHIER DEFAULTS.
The State Bank ut Fort Scott
Closes Its Doors.
DefalcatiOn Of Cashier Colean
Given as the Cause.
MADE A CONFESSION.
Colean Tells of His Thefts to
President Coon.
They Will Amount to $4,000.
He Cried Piteously.

KANSAS CITY, Oct. IA special to
the Star from Fort Scott says: A sensa-
tion was created this morning when Vice
President ]. J. Stewart OF the State bank
of this city posted the following notice
at the hour of opening:
"This bank is closed subject to the
r1er of the state bank commissioner.
Depositors will be paid in full.
"The failure to open is caused by the
defalcation of the cashier.
81. j. STEWART, Vice President"
A large crowd of excited depositors
gath cred around the bank door and dis
cussed the situation. The cashier, j. R.
Colean, has had the utmost confidence of
all. He has been cashier since the bank
was organized in 1888 Last Wednesday
he left town, telling a reporter he was
going to his old home in Jerseyville. Ill,
were his wife is visiting.
Cashier Colean confessed to President
D. F. Coon of the bank in the West End
hotel, st. Louis, Saturday night, that he
had lost about $4,000 in stock and bond
speculations The theft had been sys-
tematicalIy practiced for a period of
over two years and covered up by man
ipulation of the banks books.
In statement issued by the bank to-
day, the officials say: "The loss will fall
wholly upon the stockholders as the as
sets of the bank are amply sufficient to
pay all depositors. 1t will take some
little time to realize on the assets, but
the officers Of the bank are fully assured
of their sufficiency to pay all claims"
1t is now learned that when Colean
left last week he had no hope of cover
ing up his disgrace, and had no inten-
ton of returning,
He had become very nervous, and was
under a St. Louis specialists care last
week. Friday he wrote President Coon
that he had become wreck. Mr. Coon.
upon receiving the letter, suspicioned
that it referred to finances, although
Coleau's irregularities up to that time
had not become known. He Immediately
telegraphed Colean to remain in St.
Louis and went on to meet him.
Colean did 80 and there Saturday night
in the presence of his wife
and brother in-law Mr.. Macarthur
of jacksonville, Illinois. and President
Coon he made confession. He broke
down and cried piteously. Colean re-
manned in ST. Louis, while President
Coon left for FIT. Scott. Coleman promis-
ing to come on later. The banks di-
rectors are all substantial business men,
The officials at the office of the state
bank commissioner were much surprised
this morning when they received tele-
gram from D. F. Coon, president of the
State Bank of Fort Scott. notifying them
that the bank had closed its doors and
asking the commissioner to take charge,
as required by law.
When informed by a STATE JOURNAL
reporter that the cashier of the bank had
defaulted the officials at the bank COM
missioner's Office said it was the first they
had heard of the cause of the failure.
The bank had a capital stock of $75,-
900 and made a good showing in its July
statement. The assets of the bank at
that time were $4,000 and the deposits
amounted to $4,000.