Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1900-11-20
BROWN A DEF TER;
HIS SHORTAGE $4,000
Assistant Cashier Wrecks the
Newport National Bank.
LOST HEAVILY ON HORSES

He Plunged on the Races and Spent
Money Freely on Women-Father
Was His Bondsman and Will Lose
All His Property.
CINCINNATI, Nov. 19.-"This bank is
closed by order of the comptroller of the
currency. o. P. TUCKER,
National Bank Examiner.
This was the notice placed on the
doors of the German National Bank of
Newport, KY, befor the time for open
ing The salient facts of the cause of
the notice have been known since Sun
day 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 M. Brown to the amount of
about 5000, 900 was so overwhelming a
fact that no depositor was foolish enough
to suppose that any good could be accom-
plished by meeting to get money from
the bank today.
National Bank Examiner Tucker, who
is in charge, in an interview today said
that the defalcatiOn was not discovered
until 10 o'clock Saturday night; that
both he and the banks own experts had
been unable to find anything wrong I'M
til that time. The discovery was made
IN a comparison of Browns individual
ledger with the cashiers daily checking
up. Here it was found that Brown had
been forcing balances from day to day
until the enormous total of $4,000 had
al, = de- ~ %In
bank. The examiner further said that
the criminal proceedings had been re.
ferred to United States District Attor-
ney Hill of Louisville, who would
cause a warrant for Browns arrest to
be issued.
Depositors to Be Paid.
The examiner himself has not taken
this step because he knew that Brown
was absent. The only bond which the
bank holds is that of Paris @. Brown,
father of the assistant cashier, who is a
we'll known river man and president Of
thu Consolidated Boat Store company.
The bond is an open one, conditional to
cover any shortage by the son. 1t is
said that though Paris O. Brown has
voluntarily offered his entire property
to meet its obligation, not more than
$50, 900 can be realized from this source.
The examiner stated that he would
probably be named as temporary re-
ceiver, but the appointment OF perma-
nent receiver was in the hands of the
comptroller of the currency. The stock,
he says, is of no value, as a double liza
bility assessment must be made.
Depositors may receive a dividend as
soon as the comptroller of the currency
authorizes 1t, but this has gone on for
weeks and even months. Depositors
will be notified of the amounts to their
credit and they will be required to make
proof of their claims
The bank was the depository of nine
building associations and of the adjoin-
ing corporations of Bellevue, Dayton
and other towns, as well as of about
1000 individual depositors and firms.
Browns greatest losses were in plung
ing on the races. There are also many
reports about his extravagances with
women. There are no indications of an
accomplice or of any one knowing about
Browns departure or destination, but it
is generally believed that a woman in
Ninth street in Cincinnati knows more
than she tells about the case.