Crittenden press. [volume] (Marion, Ky.) 1879-1907, 1900-11-22
THIS BANK IS CLOSED. "
Another Banking Institution the
Victim of Carelessnes and
Dishonesty.
GERMAN NATIONAL BANK OF NEWPORT, Ky
A Shortage of About Two Hundred
Thousand Dollars in the Accounts
of Assistant Cashier Frank NJ.
Brown Discovered by Bank Ex-
uminer Tucker.

Brown Discovered by Bank Ex-
nminer Tucker.
Cincinnati, Nov. 19.-"1his bank is
closed by order of the comptroller of
the currency"
Signed 20. +. TUCKER,
National Bank Examiner"
The above notice appeared on the
doors of the stately building of the
German national bank of Newport,
XIV, prior TO the time 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 accompany
ing run on the bank by depositors.
The alleged defalcation of Assistant
Cashier Frank NJ. Brown to the
amount of about 100000, was a fact
so overwhelming that no depositor
was foolish enough to suppose that
any good could be accomplished by
attempting to get money from the
bank.
The DefnlcntIOn Discovered.
National Bank Examiner O. p.
Tucker. who is in charge, in an inter-
view, said that the alleged defalcation
was not discovered by him until ten
oclocl; on Saturday night, that both
he and the banks own experts had
been unable to find anything wrong
until that time. The discovery was
made in comparison of Browns in
dividual ledger with the cashiers
daily checking up. Here. he said. il
was found that Brown had been fore
ing balances from day to day until
the total of $4,000 had been with
drawn from the funds of the bank.
Criminal Proceedings.
The examiner further said that the
matter of criminal proceedings had
been referred to United States Dis
trict Attorney Hill, of Louisville,
who would cause n warrant for
browns arrest to be issued. The eX-
aminer himself had not taken this
step because he knew that Brown was
absent. The only bond which the bank
holds is that of Paris c. Brown, the
father of the assistant cashier, who is
II well-know river man, and president
of the Consolidated Boat Store Co.
VIII Ruin Browns Father.
This bond is an open one, condi-
toned to cover any shortage by the
son. 1t is said that though Paris {.
Brown has voluntarily offered his en-
tire property TO meet his obligation,
not more than $4,000 cah be realized
from this source. The examiner stat
ed that while he had been named as
temporary receiver, the appointment
of permanent receiver was in the
hands of the comptroller of the cur
rcncN.
The stock of No Value.
The stock he says, is of no value, as
a double liability assessment must be
made. Depositors may receive divi-
dend as soon as the comptroller of
the currency will authorize il, but
this may be weeks and even months.
Dcpositors will be notified of the
amounts TO their credit and they will
be required to make proof of their
claims.
VIII Make n Thorough Examination.
Examiner Tucker said he would en-
ploy full force OF clerks 10 arrange
the business of the bank and make
every effort to collect all the debts
due the bank and in every way dis
cover the banks exact condition, but
until that time he would not make
a positive statement as to the extent
of the liability beyond that it now
appeared to be $4,000
Corporations That VIII Suffer.
The bank was the depository of
nine building associations and of the
adjoining corporations of Bellevue.
Dayton and other towns, as well as
of about fifteen hundred individuals
and firms.
There are no indications of an ac-
complete or of anyone knowing about
Browns departure or destination.