The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-05-15
THE LBH REACHING 8jF.
Ex-CashieF Jordan surFsnders to Arrest in
the Sherman County Bank Natter
Charged with Receiving Deposits After
the Bank Was IHs0iYent-His State
ment Of the Case.


msnt Of the Case.
As was stated in The REPUBLIC last
week, NJ. B. TOmblin, president Of the
defunct Sherman County bank, and P,
I. Lancaster, its yice-president, were
arrested on the charge Of having re-
ceiYed deposits after the bank was in a
falling condition. They we're arraign-
ed before Justice Calvert, aud, waving
examination, were bound over to the
district court. Bail was fixed at 81, 200
in the Tomblin case and $1,000 in that
of Lancaster; it being furnished in both
cases.
At the time complaint was entered
against Tomblin and Lancaster, a war
rant was also drawn up against John
Jordan, ex-cashier of the Sherman
County bank. Information was sent
to him at Colorado Springs that war
rant was out against him, whereupon he
voluntarily came down to Goodland
and submitted to arrest. He was ar
raigned before Justice Calvert Saturday
and waived examination. He furnished
bond for $1,000 for his appearance to
answer to the charge at the July term
Of the district court and was released.
JoRDAN'S STATEMENT
Mr.. Jordan stated to a reporter that
the action brought against him was a
complete surprise. That he had sew
erVed his connection with the bank as
an officer in November, 1895, to accept
a more lucrative position at Colorado
Springs, and at that time and even up
to the very date of the closing of the
bank he had supposed the institution
solvent, showing his good faith by
leaving his spare money on deposit in
the institution, and but for a disap-
pointment in closing a deal for the
Douglas house, for which he made a
special trip on Thursday before the
failure, $500 more would have been
there on deposit to his credit.
That when be left it was with the IN
derstanding that his position would be
open to him if the venture at the
Springs proved unsatisfactory.
In reference to the banks affairs he
said that in April, 1893, the bank had
on deposit 100000 or more, and that
during the panic of that year and the
prevailing hard times the deposits fell
off some $4,000, and yet the bank
carried all of its securities through
without foreclosure. That the next
year was also q failure, and again they
carried the securities over with no
foreelosing, hoping and believing that
the country would surely come to their
assistance in 1895. That year a partial
crop was harvested and some of the
securities were collected, but many
more were again carried over rather
than dispoil their debtors of every
thing they had.
This year everything pointed to a
good crop, and the collection of the
majority of the outstanding loans was
but matter of time. The crash came
when the sky was brighter than at any
time for the previous three years, and
when there was more foundation for
the hope that the bank would come out
on its loans in a successful manner.
He claims the action is unjust, as the
stockholders should have had time to
see what could be realized on the
assets and that if the present prospects
continue the receivers will work won
ders this summer and fall in collecting
those notes which the appraisers
counted as worthless, when in such
event the present action against the
officers would fall of its own weight.
TO PROVE THE BANK TNsOLvENT.
The state expects to prove that the
Sherman County bank was insolvent
aud in a failing condition for q long
time prior TO its close, and that any
deposits received while in that condi-
ton were taken in violation of the
existing banking law of the state of
Kansas.
What line of defense will be adopted
IS only a matter of conjecture, but it
can be assured that the defendants
viii be represented by the best legal
ability obtainable and that battle
royal will be fought to nullify the
charge.
Trial To-Day.
Hnc4nffcy fho Nv HOOIlond borlror,