The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1900-11-23

Cincinnati, Nov. II. United States
Bank Examiner Tucker took posses
sion Of the German national hank at
Newport, KY, and posted . notice
that the bank would remain closed
pending an examination. Examiner
THeke also {, announced uno1acially
that FrankM. Brown, the individual
bookkeeper and assistant cashier, was
missing and that q partial investi-
CATION showed that Browns alleged
shortage was about $201, 900. Brown
had been with the bank is years, was
one of the most trusted men ever con,
nected with this old bank, and it is
stated by the experts that his opera
tions extended back an far 40 ten
years. s. .,s ..:<...,.: ~$ .s: q ri.
S.I.t-: Went the LinAit. . -. =:
The capital stock Of the bank Is
only 100000. Browns shortage lie
double that amount and more than
the reserve and all the assets, includ-
ing their real estate. While Alvord
got away with 100000 IN New York
he did it ina large bank, but Brown
did not have so much to 60 on and
seems, to have gone the; full limit for
q small bank in a city Of less than 3d..
600 inhabitants. The First national
bank of Newport was wrecked two
years ago by Cashier Youtsey, and
now with the German national closed
Newport has only one bank left.
For two weeks there have been ru-
mors that Brown was short and some
depositors withdrew their accounts.
Three. weeks ago the bank examiners
made a good statement for the bank
and the officers and directors allayed
suspicion by referring to the report
of this examination and to their last
statement. Last Wednesday Brown
left and it was announcedN that he
had gone hunting on vacation. He
did get q ticket for Odin. ILL.,, but it
is learned now that he did not 20
there, and it is generally believed that
he is out of this. country withsplenty
of money in his possession.
Caused a Panic. II.
It is learned that Brown was sus-
pected last Tuesday. pending an in
vestigation, and that experts have
been at work all the; past week, while
the officers: and directors have been
making announcements that every
thing was all right. Last Friday the
officers and directors over their own
names published in the papers of this
city q statement that the bank had
been found to be all right and that
the rumors about Brown were false.
They continued making these state
ments to the press as late as Satur-
day midnight. but the statements, were
not accepted by the Commercial Trib.
une, which exposed the alleged short
age and caused q panic in Newport,
SO that the bank! had to be taken In
charge by the examiner. The, widest
scenes were Witnessed in Newport
Sunday and serious trouble is feared
to-day. :.
Brown, it is alleged, was living a
fast life, with wine, women and gam.
bling in his, repertoire. His career
was not cut short by any discovery at
the bank till q jealous woman gave
him away. -
- stampede; Expected.
Bank Examiner Tucker took pos
session on. Sunday because ;of the
panic in. Newport that : followed al
once on the publication of Brown.
flight and alleged sdefa1cations. The
bank examiner posted notice that
the bank would not be opened to-day
pending Investigation, but it is gen
orally believed that this proceeding
on Sunday will not prevent a STAN
pede to-day, as the excitement il
Newport up to 2 late. hour was in
tense. There are about 1900 de
positors, among them being the nine
building associations that have thu
savings of many poor people. Thes.
classes talk more about the: state
ments given out last Thursday ant
since then than about Browns opera
lions. Brown wrote TO- q woman il
Cincinnati that he5 was bound 70,
South America, but the Enquirer say'
that it has good authority for saying
that Brown sailed from New Yorl
Saturday and that his destination il
China ~: - 81
i" "A PROSPEROUS YEAR. ,