Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1900-11-22

Cincinnati. Nov. 20.-'The bank is
closed by order of the comptro.ler OF
the currency"
ISignedl 90. P. TUCKER,
National Bank Examiner"
The above notice appeared Oh the
doors of the stately building of the
German national bank of Newport
KY, 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 a run on the bank by depositors
The alleged defalcation of Assistant
Cashier Frank NJ. Brown to the
amount of about 5000, 600, was a fact
so overwhelming that no deposition
was foolish enough to suppose that
any good could be accomplished by
attempting to get money from the
bank.
The DefaIcatiOn 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
o'clock on Saturday night, hat 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 in
dividual ledger with h 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 $192, 900 had been with.
,-, 49, III f,,1. ~f 4La 1o~r
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 a 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
d welI-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 hat though Paris C..
Brown has voluntarily offered his en-
tire property to meet his obligation,
not more than $50, 900 can be realized
from this source. The examiner stat
ed tina while he had been named as
temporary receiver, the appointment
of a permanent receiver vas in the
hands of the comptroller of the cur-
rency.
The Stock of No Value.
The stock he says, is of no value, as
a double liability assessment must be
made. Depositors may receive a divi-
as soon as the comptroller of
the currency will authorize it, 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
VIII Make "a Thorough Examination.
Examiner Tucker said he would en-
ploy a full force of clerks to 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 1892, 200.
Corporations That Will Suffer.
The bank vas the depository of
building associations Inc of the
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
departure or destination.