The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-02-05
DAILY, SO A YEAR
CEfyTS A COPY.
WEEKLY 2-TIMES-A-WEEK 81 A YEAh5
R0ME'S BANK FINANCIAL RUIN
THE INSTITUTION INVOLVED TO
THE EXTENT OF 100000.

Its Cashiers Dedication $4,000 and
the Had Paper in Its Boxes FOOts
Up S3OO.OOO-The Capital Stock
SI5O,OOO and the Surplus SI7O,OOOs
Speculation In the Hope OF Making
UD the Losses From Had Manages
ment.
Rome, y. Y. Feb. 4-The condition of
the Fort Stanwix National Bank proves
90 be very bad. The examination has
shown the bank to be rotten to the core.
Although Bank Examiner Van Vranken
will say nothing. u IS stated on good
authority that the bank is involved to
the extent Of nearly. If not quite. si0o. 600.
OF this amount Il IS said that $4,000 Is
in shape OF drafts Of the j. Winslow Jones
Packing Company OF Baltimore, and 9th
er concerns associated with 1t; 100000 OF
miscellaneous bad paper and $4,000 de-
falcauon by Cashier Barnard. This
amount will swamp the bank and throw
It into the hands OF a receiver.
The capital stock is $4,000 and the
surplus $4,000 more. Therefore. II this
bank is 10 pay its depositors 100 cents ON
the dollar the stockholders must be as
sessed.
The people of Rome have so long looked
upon Cashier Barnard as the model OF
all that was upright and honest THAI
they could not believe that he was a de-
faulter. But the conviction that he was
Is slowly forcing itself upon them. In
what way he used the money which he Is
alleged to have taken Is not explained,
but there are limitations that he has OF
late been Specializing In the hope OF be-
ing able 10 make up for losses to the
bank through mismanagement.
Baltimore, Feb. Al. Wlnslow Jones.
president of the packing company, which
is reported to have $4,000 worth Of pa
per in the Fort stanwix National Bank
OF Rome, N. Y, whose cashier, Mr.. Bar
nard, recently committed suicide, is n
member of the Maryland legislature He
has seat In the House OF Delegates from
Anne Arundel county. He Is very reti-
cent as TO his dealings with the Rome,
n. " bank. After much questioning,
Mr. Jones, to-day, said: II talked with
Cashier Barnard about three weeks ago
In New York city and tried to arrange
some sort of settlement with the bank
then. Mr.. Barnard, however, had been
managing these matters himself and
nothing was done / do not know how
much paper of mine this bank holds, and
have heard nothing from the bank on
the subject. A considerable portion OF
the notes are covered by collateral, eth
er goods or stock, of the j. Winslow Jones
Packing Company. 1 have been doing
business with this bank for twelve or
thirteen years, and some OF these obli-
cations are old ones"
Mr. Jones Is a native OF Maine, and in
his boyhood was associated with Isaac
and Nathan Wlnslow in their experiments
for the packing Of green corn n patent
for which was issued I'm 1858. In 1881 Jones'
sold out to an English syndicate. At that
time he says he was running fifteen corn
factories In the state OF Maine and tWen-
ty lobster factories extending from Maine
to the Magdelene Islands, and doing a
business OF over 100000 year
After he sold out his business In New
England, Mr.. Jones came~ to Baltimore
and started the j. WinslOw Jones Pack
Ing Company, which he organized under
the laws of Maine, with paid up capital
of $4,000. He is also president Of the High
land Packing Company the Patuxent Cam
ming Company, and of the Riverton Live
stock. Company. But little Is known here
of these enterprises.