The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1900-11-24
HE WRECKS A BANK.
Old and Trusted Employe Accused
OF Embezzlement.
Assistant Cashier of n Newport Nyo
Institution MissiDg-said 10 Be
Guilty of shortage Es-
ceedIng Every Asset.

Cincinnati, Nov. 10.--United States
Bank Examiner Tucker took posses
sion of the German national bank at
Newport, KY, and posted notice
that the bank would remain closed
pending an examination. Examiner
Tucker also announced unofficially
that Frank NJ. Brown, the individual
bookkeeper and assistant cashier, was
missing and that "A partial investi-
cation showed that Browns alleged
shortage was about S201 900. Brown
had been with the bank Is years, was
one of the most trusted men ever con-
nectcd with this old bank, and IL is
stated by the experts that his opera
tions extended back as far as ten
years.
Went the Limit.
The capital stock of the bank Is
only 100000. Browns shortage is
double that amount and more than
the reserve and all the assets, includ-
ing their real estate. While Alvord
got away with $7OO,OCO in New York
he did il in large bank, but Brown
did not have so much to go on and
seems to have gone the full limit for
a small bank in a city Of less than 3d.
0O0 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 n 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 il was announced that he
had gone hunting on vacation. He
did get ticket for Odin, Ill, but it
is learned now that he did not go
there, and il is generally believed that
he is out Of this country, with plenty
of money in his possession.
Caused n Panic.
II is learned that Brown was sus-
pccted last Tuesday. pending an in
vcstigation, 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 statement that the bank had
been found to be all right and that
the rumors about Brown were false.
They continued making these state
mcnts 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 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, il is alleged, was living n
fast life, with wine, women and gam
bling in his repertoire. His career
was not cut short by any discovery at
the bank till jealous woman gave
him away
stampede Expected.
Bank Examiner Tucker took pos
session on SuHuaN because Oh the
panic in Newport that followed at
once on the publication Of Browns
fight and alleged defalcations. 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 STAN
pcde to-day, as the excitement in
Newport up to late hour was in
tense. There are about 1.j00 de-
positors, among them being the nine
building associations that have the
savings of many poor people These
classes talk more about the state.
ments given out last Thursday and
since then than about Browns opera
tions. Brown wrote to woman in
Cincinnati that he was bound for
South America, but the Enquirer says
that it has good authority for saying
that Brown sailed from New York
Saturday and that his destination is