Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-19
BANK DOORS CLOSED
German National at Newport, Kyy
Robbed by Cashier.
BE TOOK NEARLY 100000
u. S. Examiner Now in Charge
of the Institution.
NO RUN BY DEPOSITORS

NEWPORT, Ky, November 19.-"This
bank is closed by order of the controller
of the currency. c. p. Tucker, National
Bank Examiner.
This was the notice placed today on the
doors of the stately building of the German
National Bank of Newport before the hour
for opening. The salient facts of the cause
of the notice had been known since Sunday
morning, and, therefore, there were none
of the usual scenes accompanying a run
on the bank by depositors. The alleged
defalcation of Assistant Cashier Frank NJ.
Brown to the amount of about S2o0,ooo was
so overwhelming that no depositor was
foolish enough to suppose that any good
could be accomplished by attempting to get
money from the bank today.
National Bank Examiner Tucker, who is
in charge. stated that the alleged defalca-
ton was not discovered by him until 10
o'clock Sunday night; that both he and
the banks own experts had been unable to
find anything wrong until that time. The
discovery was made In a comparison of
Browns individual ledger with the CASH
ier's daily checking up. Here il was found
that Brown had been forcing balances from
day to day until the total of S1?2 900 had
been withdrawn from the funds Of the
bank The examiner further said that the
matter of the criminal proceedings had
been referred to United States District At
tOrrey Hill of Louisville, who probably
will cause a warrant for Browns arrest to
be issued. The examiner said he had not
taken this step because he knew Brown
was absent.
Browns Father His Bond.
The only bond which the bank holds is
that of Paris c. Brown, father of the as
sistant cashier, who is a weil-known river
man and president of the Consolidated Boat
Store Company. This bond is an open one,
conditioned to cover any shortage by the
son. Mr.. Brown has voluntarily offered his
entire property to meet its obligation. En-
aminer Tucker says the stock is of no
value. as double liability assessment
must be made Depositors may receive a
dividend soon as the controller of the
currency will authorize it, but this may be
weeks and even months. Examiner Tucker
says he will employ full force of clerks
to arrange the business of the bank and
make every effort to collect all the debts
due and in every way discover the banks
exact condition. Until that time he will
not make a positive statement as to the
appeared4 to be sla2, Geo. The bank was the
depository of nine building associations
and of the adjoining corporations of Belle
vue. Dayton and other towns, as We'll as
of about / 800 individuals and firms.
There are no indications of an accom-
plice or Of any one knowing about Browns
departure or destination
Controller Dawes Takes Action.
Mr.. Dawes controller of the currency,
has appointed Oliver P. Tucker, national
bank examiner temporary receiver OF the
German National Bank Of Newport, Ky.
Mr. Tucker telegraphed the controller that
he had taken charge, owing TO tne dlscoN-
ery of a defalcation amounting TO ABOUT
sl95 $50 and thereupon the controller ap-
pointed him temporary receiver. Inc OH
Gals here consider it astonishing that
defalcation amounting to more than the
reserve of the bank could have renamed
undiscovered for any length of time, but
they attempt to offer no explanation, as
Mr. Tucker has not yet furnished any de-
tails The last examination OF the bank
was made in May last.
The following is a statement OF the con
dit:on of the bank as shown by Its sworn
report to the controller of the currency
under date of September 5, 1900:
LIABILITIES ,,o,,
CAPITAL stock. Sluo.oooog
Surplus and undivided profits. ou t.,n -
Circulation ..''''.'--.
Due other banks.
70 npnnn.ai ,nnnav .........,,,. 100000
r+l ...... S136 1l3 IA
RESOU RCES.
Loans and discounts. SoiL- 70 ~ ~
=. ,;,rn =, - n f,onds ....... l.O3l -
4, ii,n bnrsa furniture and fixtures 32.ol2 -
ni rs - ou,nad -....... "a y!i2 6S
Cash on hand and with banks. s.......-. lo".--'-fo
ro,., ACCOMMODATIONS. SI36 1l3 IA