The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1900-03-27
RUINED His BANK.
A Vermont Cashier Has
Gone Wrong.
G. W. Mussey COnfeSSeS to Defalca-
tien Of sI45.OOO.
Merchants Bank Of Rut-
land Victim. .--8
Has Closed Doors and is In
Hands of Receiver.

Rutland, Vt, March 26. The Mer-
chants National bank Of Rutland CLOSED
it's doors to-day and the cashier, Charles
W. Mussey. Is under arrest. charged with
misrepresentation of the funds OF the
bank.
The exact amount Of shortage will not
he known until after q thorough exami-
nation Of the banks books, which Is now
in progress, has been completed.
Bank Examiner d. ID. Muir was ap-
pointed temporary receiver Of the bank
by the comptroller Of the currency.
Following is the synopsis Of the report
Of ths condition Of the bank made to the
comptroller OF the currency under the
call OF FEBRUARY IS, 1900:
Liabilities, capital. 500, goo; surplus
and profits, S3,3sS; due to depositors
banks and bankers, $5i, 400. circulation,
81, $40 resources; loans and discounts.
1851, 1853; other assets including cash,
SI1b,4
The closing of the bank Was complete
surprise to the business community Of
Rutland.
-
known business man and besides being
head of the Merchants bank Is president
of the State Trust company. This insti-
tuition, however, is not affected by the
suspension Of the national bank.
The closed institution Is In charge OF
National Bank Examiner ID. ID. Muir,
who was appointed temporary receiver ny
the comptroller of the currency this fore
neon.
Mr.. Muir has had his eye on the bank
for some time, and recently he had reason
to believe that there was . leakage in it's
funds. A hurried investigation led to
the detention of Cashier Muir. An ex-
animation of the books Ia In progress.
At two O'Clock this afternoon 1t was
announced that the shortage Of Cashier
Mussey amounted to Sl45 900. The cashie
had left the stats ami was arrested In
Albany, N. Y.
Cashier Mussey reached here from AL
bany at an early nour. and later he ad-
mitted to the government officials that
he had misappropriated the banks funds
and had falsihed the accounts.
Mussey remained in close detention in
the bank oil day, practically under arrest
In a civil suit brought by the bank for
SO, 600, but tonight the United States
authorities after an examination into
the banks affairs, formally arrested
him on a charge of embezzlement and
lodged him In the county jail. IL lie
understood that the United States circuit
court has placed his bail at 500 600.
Cc-inoident with Mussey's confession
came the closing of the musical store
OF II. A. Mcclure, Jr., the business Of
which, according to the confession Of
the cashier, has been supported wholly
or In part by the funds of the bank.
Mt ssey's story OF his speoulations from
the bank have a very familiar sound
beginning as they did nearly six years
ago with comparatively small amount
Ald gradually increasing until tina
aAeEunt became too great to remain hid
dee Still, even the national bank eI-
aminsr, ID. ID. Muir. was deceived by the
cashier only few months ago, the entire
deficit being made to appear good through
a large number of forged notes which
Mussey inserted.
Musssy told the directors this morning
that he loaned Mcclure 5000 six years
ago and that thelamount was returned.
Since then, however, other loans we're
made without the knowledge OF the d.
rect RS until the ball rolled up to the
sum half as much again as the entire
capital stock Of tine bank. Still the di.
iectors remained In the dark and would
have been there today If one Of their
mum bar last week had not heard from an
outside source Of Musssy's loans to Nc
Clure. The Inevitable day arrived last
Saturday when Mussey was called be-
fore the board and asked for the banks
sets. Mussey put on a bold tace and
at once offered to 60 across the street to
the safe deposit for the securities. The
directors waited an hour for him and
then sent for detective. The cashier
went from the bank TO his house where
he took few hundred dollars and the q
left the oity. Tie detectives caught
up with him yesterday in Albany and
had little difficulty in persuading him
TO return without extradition papers.
He arrived here at 2.45 a. m, and onos
more faced the man who for many years