The Providence news. (Providence [R.I.]) 1891-1906, 1900-04-16
When Cashier Found on Apparent Error
Teller Agreed 10 HsIp StTaIghtsn II Out.
SHORTAGE is APPARENTLY s25,OOo.
Banks capl'al VIII MOI Be impaired Unless The
Shortage Pross 10 Be Much Greater Than
Appears al Present Tina.

Waterbury. VT. April 16.-Following
close on the heels OF the Rutland Bank
defalcation came the disappearance
Saturday night Of J. G.. Farrar OF the
Waterbury National Bank, and the
discovery practically at the same time
OF an apparent shortage in his accounts
OF $4,000. Whether Farrar left the
city on north or south bouEd train
has not Yet been ascertained. but his
absence and the subsequent disclosure
caused a sensation that robbed Easter
Sunday of much OF it's customary sa-
credness.
Besides his position as teller, Farrar
was town treasurer. but the latter's
funds do not exceed three or four thou
sand dollars. Being an unusually bright
young man and OF "A highly respectable
FAMILY, the disclosures Saturday seemed
almost incredible To his many friends,
and proved a terrible blow To his young
wife and his parents. His friends be-
lieyed that IL was simply n case OF bor-
rowing TO make goed speculations in
the stock market.
The story OF his discovery and the
disappearance does not sound unfaml-
lar. Farrar was working quietly at
his desk Saturday afternoon when
Cashier Charles Wells asked him about
some apparent errors in figures. Far
rar at once began what seemed to be
thorough investigation. the two work
ing for some hours trying to unravel
the tangle in the accounts. At 8 o'clock
Farrar suggested that the work be sus-
pended for an hour I'm order to get sup
per. He told rhe cashier that he would
come back and find the mistake If
ed to the adjournment, but his trusted
teller has not yet made good either his
engagement or what the bank now
claims is shortage of at least $4,000.
Farrar could have left town within half
an hour after his departure from the
bank. A train for the north left at $40.
while anoJher went south at $3.50, but
no one, so far as is known, saw Farrar
take either.
Mr. Wells returned 10 the bank ac-
cordi6g TO agreement, and after wait
ing half an hour began in investigation
on his own account. with the result
that during the evening the bank Off
Gals. including the president, ex-Gov.
w. Il. Dillingham;, We're notified of the
situation and of Farrars disappear
ance.
AS the capital of the bank is 800 900
and ITS surplus over $35. 600. all the bank
officials stated that the loss could be
readily borne, and that the capifai or
the bank would not be impaired. This.
OF course, is provided that no further
shortage is discovered.
Up to a late hour last night no war
rant had been issued for the arrest of
the missing teller. and SO far as learned
the bank examiner had not been notl-
fled. In fact. the bank officials do not
appear greatly exercised over the loss.
Farrar was born here "a years ago.
and has spent his whole life among his
ellow-townspeople. becoming an al
most universal faNorite. He has been
employed i'm the bank six or seven years
gaining during that time the conf
dence of all the officials. who naturally
trusted him implicitly. About two years
ago he married most estimabe young
lady, and one child has been born 10
them. Both his parents are living, and
are among the moss respected people
of the town.
During the past few wears he has
handled all the funds of the village of
Waterbury. and there should he "A bal
ance in the bank I'm the towns favor of
nearly $4,000. Whether this amount has
followed Ehe funds OF the bank is not
yet known. His friends are 10th TO be-
leve that he actually stole the money,
but are rather of the opinion that he
borrowed II for a short time To make
good his stock market accounts.
IL is expected that a complete state
ment OF the condition OF the bank VIII
be issued I'm n few days.