The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-11-20
Assistant Cashier Brown, of the Ger
man National Of Newport, Ky,
Had Made q Clean Sweep.
DOORS NOT OPEN YESTERDAY
EXAMINER TUCKER Placed IN
CHARGE BY THE CONTROLLER.
Browns Father on the Fugitfve's
BOnd-How the DefauIter ssDoc-
tOredv His Books.

CINCINNATI, Nov. 19-''This bank is
closed by order of the controller of the
currency" This was the notice placed on
the doors of the stately building of the
German National Bank, of Newport, KY,
before the time for opening. II was
signed by o. p. Tucker, national bank
examiner. The salient facts of the cause
OF the notice had been known since Sun
day morning, and, therefore, there was
none of the usual scenes accompanying a
run on the bank by depositors. The al
legged defalcation of Assistant Cashier
Frank NJ. Brown to the amount of over
$4,000 was a fact so overwhelming that
10 depositor was foolish enough to sup
pose that any good could be accomplished
by attempting TO get money from the bank
to-day.
Examiner Tucker, who is in charge, in an
interview to-day said the defalcation was
not discovered by him until 10 O'Clock on
Saturday night; that both he and the
banks own experts had been unable to
find anything wrong until that time The
discovery was made in comparison of
Browns individual ledger with the CASH
ier's daily checking up. Here it was
found that Brown had been forcing bal
ances from day to day until the enormous
total OF $4,000 had been withdrawn from
the funds of the bank The examiner fur
Their said that the matter OF criminal pro-
ceedings had been referred to United
States District Attorney Hill, of Louisville,
who would cause a warrant for Browns
arrest to be issued. The examiner 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 a welI-known
riverman and president OF the Consolidated
Boat Store Company. This bond is for
$4,000. 1t is said that though Paris c.
Brown has voluntarily offered his entire
property TO meet his obligation, not more
than $50 900 can be realized from this source.
The examiner says the stock is no value
as double liability assessment must be
made. Depositors may receive a dividend
as soon as the controller of the currency
Will authorize 1t. but this may be weeks
and even months. Depositors viii be noti-
fed Of the amounts to their credits, and
they will be required TO make proof OF
their claims. Examiner Tucker said he
would employ a full force OF clerks 10
arrange the business OF the bank and make
every effort TO collect all the debts due
the bark and In every way discover the
banks exact condition. Until that time he
banks exact condition. The bank was
the depository CT nine building associa-
lions emo Of the adjoining corporations of
Bellevue Dayton and other towns, rs we'll
as Of about $500 individuals and firms.
The experts who worked to-day with
Receiver Tucker on the books OF the bank
at Newport, KY. place the shortage az
slsf.5oo. According TO reports from those
who were with Brown when he left last
Tuesday night he had less than $500 with
him. Browns salary was only $3.50 per
year. Cases are now cited where he spent
more than that amount in one day. His
CONTINUED ON PAGE s. COL g.