Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-11-17
CREDITORS PROSPECTS
Banker Weathen Believes All Will Be Paid
In Full.
He Turns Over All His Property to
AssiEnees - The Chase After
Cashier Winetts.

CINCINNATI, Ohio, November 1.-THE
following message was sent the CONNER
cial Tribune last night from Leavenworth.
Ind. by Mr.. John H. Weathers, president
of the failed banks at Marengo, Leaven-
worth and English, Ind:
THE report that 1 absconded when the
banks failed is entirely false. 1 left last
Saturday to find Cashier Wnlett. to try to
get him to come back. went to Louisville
and from there to Owensboro. My search
was unsuccessful. though have clue to
Willett's whereabouts I returned to Leav-
enworth Monday night.
Yesterday l went to Corydon, where
met a committee of the depositors of the
banks, and made an assignment. r. c.
Arnold was named as assignee and gave
bond He will take charge of the banks
tomorrow. l shall assist him in his work
If 1t takes year. 1 propose to try to
realize on the assets which we have. The
liabilities of the three banks amount to
about 100000 and the assets to $4zO,O00.
approximately. These assets consist of
loans, bills receivable valuable securities
etc.
In my judgment every creditor of the
banks will be paid in full. With my prop
erty. think the assets will reach the fig
ure 1 mention. and every dollars worth
have in the world shall be turned over to
the creditors of the banks of which l was
president
Il cannot explain Wilett's flight He had
done nothing wrong that can learn of.
understand that his relatives stand ready
10 make good whatever deficit there may
exist in his accounts, if any does exist.
The failure was caused, think. by I'M
fortunate investments. Willett had ex-
elusive mana cement of the banks. l am
a lawyer by profession and have been In
practice all the time. Willett, I suppose.
brenched out too far. He tied up GOOD
deal of the banks money in such way
that we could not get it when we needed it.
Within the last six months he tied up in a
spoke factory here $4,000 which he was
unable to get back.
Il don't know anything about the stories
of Willett's specializing in Chicago. 1 don't
believe he ever did speculate"
The Times Stars Ccrydon, Ind, special
says. Bank President John H. Weathers
is here and will make deeds of assignment
to the two assignees, r. c. Arnold and @.
F. johnson, who have been appointed. 1t
is reported that the abeconding cashier
left 5000 in the three banks. Any state
n.ent now as 10 what the depositors will
he raid is only guess. 1t cannot be
known until the aSsigneeS make an inVen-
tory of what is left out of the property.
Weathers is turning over all he has to
the aSsignees. In his statement to the
committee he said he would give up every
thing.
LOUISVILLE. KY. November IA spe-
cial to the Evening Post from English, Ind,
says:
PRESIDENT Weathers of the defunct Eng
hsh Banking Company was in this city
last night. but early this morning left for
Leavenworth. Ind. He said he was willing
to surrender himself to the law. if there
Were any charges against him. While here
he arranged to iurn over his entire prop
erty. as well as that of his wife, to be used
In settling up the Indebtedness of the
bank. He said that he had left the active
management of the banks to Cashier Will
let's, but that he believed dollar for dollar
could be realized.
Cashier Willetts has not been heard from
and he has undoubtedly left this part of
the country with part of the bank 9
funds. Just how much is not known. His
relatives have come forward and raised
S12o,OOo to cover any shortage that may
be found to exist
The great publicity that has been given
to this fact. together with the counsel OF
wiser heads. has prevented any demonstra-
ton. and when President Weathers arrived
last night he was not moiested