The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-04-27
.CASS|NTS LOST CASH.
Snag Struck In the Proposed
Settlement.
SHORTAGE MORE ST. ARTLING
Instead Of Being S45, 900
II Is Probably $50, 900.
BANK DECLARED BROKE.
Presidents Son Applies for a
Receiver.
BANK DECLARED BROKE.

Cashier Cassin In Grave Danger OF
Being Indicted by the Grand Jury.
Two stories Given out As to the
Failure 10 Make Good the Loss.
Directors of the Bank Say Judge
HiIIyer Promised to Put Up $50, 900
and Has Failed to DO so-Ths
Judge Says He Promised Only SIO,-
900.
Atlanta, Ga, April 26-The defalcation
of II. A. Cassin cashier of the Georgia
Loan, Savings and Banking Company.
who was announced short $4,000 last SAT-
urday took a further sensational turn to-
day
Saturday the announcement of the short
age was accompanied by the
statement that the whole amount
had been made good, that
the bank would go on with business
as usual and that Cashier Cassin would
not be prosecuted. 1t now appears that
the shortage has not been made good. that
Cassin Will probably be indicted by the
grand jury and the bank Will have its af-
fairs wound up by the courts. At the same
time It is said Cassin's misappropriation
Of funds will amount to 100000
The settlement agreed upon Saturday.
by which Cassins shortage would be set
tied, fell through and as "a result Morgan
Gress, director in the bank, and a son
OF q. G. Gress the president, filed an an
pilcation for receiver, alleging that the
institution Is insolvent Judge Lurnpkin.
to whom the application was made. granted
temporary restraining order and set Sat-
urday, May /, as the date for the hearing.
The directors of the bank were In session
all this morning endeavoring to bring
about a pacific settlement of the affair
but without success. The failure OF the
plan of settlement agreed upon Saturday
Is laid by President Gress at the door OF
Judge George Hillyer, stockholder In the
bank, and father-in-law OF Cashier Cassin
President Gress says that Judge Hillyer
agreed on Saturday to put up $4,000 Of the
amount of cassins shortage, and that his
failure to keep this agreement brought
about the application to the courts for a
receiver.
Judge Hlllyer disclaIms entirely this re-
sponsibility and says that he agreed to
put up only $4,000, and that he has not
refused yet to put up this amount. He
says that President Gress stated that he
would himself put up the entire amount OF
the shortage IL no one else acted
II seems that the other persons who
agreed on Saturday to make up the
amount of Cassins shortage did SO with
the twofold object Of protecting the stock
holders of the institution agains loss and
at the same time of getting Cassin out OF
his trouble. But It became noised about
| hut he. "A 4tsr.
would take ur the case and probably in
dict Cassin for embezzement. Then the
directors Of the bank we're called together,
but there was a lack of harmony, and the
meeting broke up without any definite con-
cluson being reached.
While this meeting was I'm progress, the
attorneys for Morgan Gress filed with
Judge Lumpkin the application for a re-
ceiver for the bank. The bill alleges that
H. A. Cassin, the cashier, has appropri-
ated 10 his own use more than $4,000, and
that the bank can no longer do busiress.
This shortage, II alleges, has so crippled
the resources of the bank as to render u.
insolvent, and that the only way its affair }
can be properly wound up is through u
courts.
President Gress made a statement rl-
garding the action of his son In filing the
bill for a receiver, in which he said: This
movement was made by my son without
any knowledge on my part OF his inten-
tion. 1t was brought about by the fall
ure Of Judge Hlllyer to keep the agree-
ment he made Saturday. Al that time
an agreement was made by which he was
to put $4,000. George Cassln 5000, Judge
r. r. Dorsey s2,lOO, Albert Howell s.. 800,
Harry A. Cassin 10000 and was to make
good the balance. i agreed to do this
over the protests of my son, and / sup
pose he acted as he did TO prevent my
putting up this money"
"Will Cassin be prosecuted?''
''I do not know; but 1 suppose So I
see nothing else to do"
Judge Hillyer tells the story IN q differ
ent manner. lie said: II agreed on Sat
urday 90 put In a claim Of 5000 1 had
against Harry and to put 5000 addliionai
to II, making $4,000 / have not refused
TO do this yet There has been a lack
OF harmony among the others. and they
have failed 10 put up the amounts az
agreed on Saturday II seems they
wanted me 10 put up, although no one else
has done So"
cassin was placed under arrest tonight
upon a warrant sworn out before Justice
BlOodworth charging embezzlement.
Pending hearing 10 hx bond. which wlll
be- held tomorrow morning Cassln was
kept under guard at the homa OF Bailil
II a. l.