The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1897-11-17

DEPOSIToRs FEAR HEAVY LOSSES.
President WiIIett Left Last Wednes-
day and His Present Where
abouts are Unknown.

LEAvENwoRTH. Ind, Nov. 15.-Craw.
ford county is agog over the closing OF
banks at this village, at Marengo and at
English, the county seat. The banks
contain the public funds, as well as
pretty nearly all of the individual de-
posits Of the business men of the coun-
ty. While no statement has been given
out, 1t is feared that all three of the
banks are heavily involved, and that
the losses will be large for both public
and private depositors.
The closing of the banks was fastened
through the disappearance of Richard
III. Willett. cashier of the Leavenworth
Citizens bank, vice president OF the
Bank of English, at English, and presi-
dent of the branch bank at Marengo.
Willett is also president of the Royal
Spoke company of this village and owns
the Royal electric works and the water
works here. Besides, he is secretary
and treasurer of the Leavenworth
school board, and it is Thought that the
school funds have disappeared with
him.
Willett has been specializing heavily
OF late, 1t is reported, although there
was little suspicion of this among the
people Of the village, who have always
held him in the highest esteem and con-
fidence.
Last Wednesday morning early Will
lett drove across country to Marengo,
the nearest railro.d station, distance
of IA miles. He started ostensibly for
South Bend, Ind, ON business connect
ed with his spoke enterprise. That is
the last that has been seen or heard of
him Positive information has reached
here that he did not go to South Bend,
and friends of ex-Oounty Treasurer p
+ Walts-now resident of Paoli-
said that Waits had met Willett in
Louisville. Ky, on Thursday. Louis
vile is 30 miles up the river from here,
and Waits thought there was nothing
unusual in Willett's appearance there.
They chatted for time-so the story
Roes-and parted, after the bank presi.
dent had made some inquiries as to
where he could find II d Gilman. a
Leavenworth man, who travels for
Vogel Brothers of Louisville.
Willett started the Citizens bank in
1890 when he first came to this village
from Little Bend. Ky He had Just in.
herited 100000 from his father and had
just been married to Miss Minnie Holl.
croft Of Little Bend. who brought him
$4,000 A week or so ago Willett
grandfather died leaving him about
$4,000, but this was insufficient 10
meet the pressing demands made upon
him for cash
He is 81 years of age. . feet inches
TAIL weighs about leo pounds, has light
hair blue eyes and smooth shaven
face He Is deacon In the Presbyte
rian church of Leavenworth, and has
always been fully trusted by the people
OF the entire county Many there are
today indeed, who refuse to believe
that he has misappropriated any Of the
funds and maintain that his unex.
planned absence must be owing to some
accident
Assistant Cashier II. s. Davis said
that Willett took only $l2, 900 from the
Leavenworth bank, and it is insisted by
some of his friends that the bank presi-
dent required this sum to settle balances
against him in Louisville banks. 1t is
urged that his interests in other enter
prises will be more thnn ample TO make
up any shortage in any Of his banks,
and that Us soon as matters can be
Strengthened out it will be found that
depositors will lose nothing. There are
others, however who incline to the OPP
posite belief, and the cooler heads had
trouble holding these in check