The Providence news. (Providence [R.I.]) 1891-1906, 1896-10-09
After Bank President Had
Shot Himself.
Mr.. Marsh Had Lost Very
Heavily In Speculation.
Peculations From Estates May
Reach More Than 100000.

Gloucester. Mass. Oct Q. - At noon
yesterday notice was posted on the doors
OF the Cape Ann Savings bank, stating
that the institution had been closed.
The news had scarcely spread about the
city when the residents were shocked
TO hear that George j. Marsh. aged 62,
for more than a quarter Of a century
the trusted treasurer " the bank, as well
as treasurer and trustee for numerous
large corporations and estates, had
shot himself at his summer home at
Annisquam.
stated that after a hurried examination
by tie savings bank commissioners, no
shortage could be found in Mr.. Marsh's
accounts with the institution. although
the securities OF the bank in Boston have
not been examined The trustees OF the
Gilbert hospital corporation, however.
have different story To tell. p appears
from their statement that three months
ago the trustees discovered that Mr..
Marsh was insolvent. The trustees in
the meantime learned that Marsh had
been speculating heavily, and had lost
considerable money. They then called
upon him 10 produce the securities OF the
corporation, and yesterday was set as
the time when they should be turned
over. The trustees Of the corporation
are also directors Of the bank, and the
first intlmation they had OF any wrong
was a note which Vice President Cum
ningham received upon entering the
bank yesterday morning. The note was
from Mr.. Marsh. and stated that his
(Marsh) dead body would be found in
the cellar of his summer homeat Annis-
guam.
Two messengers were then dispatched
to Annisquam, six miles distant, and
when they arrived at the house, Mr,
Marsh was heard walking about room
In an upper story. The captain of his
yacht, who is also janitor of the bank,
was in the house, and, on being Informed
of the contemplated suicide OF his en-
ployer, went up stairs TO prevent IT.
For some reason he came down again
Immediately and sent a message to
Gloucester, but when he returned, going
In by the way of the cellar, he found
Marsh lying on the floor, with a carbine
in one hand and "a revolver In the other.
The top of his head was completely
blown off. while on a table near was
note. saying: IF any one thinks this
cowardly act. let him try it,"
Marsh, who was a bachelor, lived the
life OF a recluse for many years. His
home Is on the extreme point OF rocks,
almost inaccessible. except by narrow
path. while there were no living rooms
on the ground floor. 1t is known that he
was very Incorporate, and during the
past year had lost large sums in specula-
tion. Nevertheless, he had full run OF
the bank. attending to all investments.
as well as those OF the numerous corpora
tlons and estates. with which he was
connected. He was treasurer OF the
Cape Ann Savings bank. OF the Gilbert
home corporation, of the Gilbert hospital
corporation. and trustee of the Gilbert
charity fund, the Gilbert estate, the
Hough estate, the George H. Rogers
estate, the Fuller Davis estate, the
estate of Mrs. Sarah M. Johnson, and the
Hildreth estate.
One of his bondsmen stated last night
that Marsh's bond to the Gilbert hos
pital would probably cover the short
age. but il is rumored that his pecula-
tion from the other estates will be more
than 100000, the Hildreth estate being
the principal sufferer.
The savings bank commissioners
closed their examination of the books of
the Cape Ann Savings bank. and re-
ported that the funds of the bank were
intact. The deposits amounted TO SO, 300
217S7, and the guarantee fund is $4,000.
The directors state that IL there is a run
on the bank. they will take advantage Of
the 60-day clause.