Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1900-11-21
HE WRECKS A BANK.
Old and Trusted Employe Accused
of ENLIGHTENMENT.
Assistant Cashier of Newport CKy.)
Institution Missing-Said to Be
Guilty of a Shortage EX-
ceedinE Every Asset.

Cincinnati, Nov. 19.-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 examinatio Examiner
! Tucker also announced unOfficially
| that Frank NJ. Brown, the individual
| bookkeeper and assistant cashier, was
| missing and that a partial lnvestl-
| cation showed that Browns alleged
shortage was about $2O1, 900. Brown
| had been with the bank IS years, was
| one of the most trusted men ever con-
| nected with this old bank, and it is
| stated by the experts that his opera
! tons 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 100000 in New York
he did it in a 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 So
! 600 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 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 it was announced that he
! had gone hunting on a vacation He
| did get a ticket for Odin. H., but it
+, is learned now that he did not go
| there, and it is generally believed that
| he is out of this country, with plenty
Of money in his possession.
/ Caused a Panic
| 1t is learned that Brown was sus-
/ pected last Tuesday. pending an in
vestigation, and that experts have
i 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 anti directors over their own
names published in the papers of this
! city a statement that the bank had
been found to be all right and that
| the rumors about Brown were false.
They continued making these state
ments 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 a 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, it is alleged, was living a
! fast life. with wine, women and gam
bling in his repertoire. His career
was not cut short by any discovery at
! the bank till a jealous woman gave
him away.
Stampede Expected.
Bank Examiner Tucker took pos
session on Sunday because of the
panic in Newport that followed at
once on the publication of Browns
flight 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 a STAN
pede to-day, as the excitement in
! Newport up to a late hour was in
! tense. There are about 1900 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 a 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