Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-11-20
NEWPORT. KY, BANK
Closed by Order Of the COMPTROLLER
Of the Currency.

Newport, KY, Nov. 19.--The German
National Bank was closed today, by
order OF the comptroller OF the curren-
cy. This action was taken after an ex
animation Of the books started. yestcr-
day, when national bank examiner
took possession OF the institution on
rumors that Assistant Cashier Brown
had ernbeZZled a trific over 5000. 900.
The notice closing the institution was
posted by National Bank Examiner o.
+. Tucker. this morning. and the ac-
ton was anticipated by the depositors
There was no unusual excitement
about the bank building. today. EXAM
liner Tucker said that the alleged de-
falcation of Cashier Frank NJ. Brown
was not discovered by him until 10
O'Clock Saturday night. Upon COMPARE
son of Browns individual ledger with
the cashiers daily checking up. il WIS
found that Brown had been forcing
balances from day to day until IL total
Of 1892 900 had been withdrawn from
the funds Of the bank. The examiner
further said that the matter OF Grim
inal process had been referred to Unit
ed States District Attorney Hill Of
Louisville. who would probably cause
warrant for Browns arrest to be is
sued. The only bond which the bank
holds Is that Of Paris G.. Brown, ia
Their Of the assistant cashier. who is n
wellknown riyerman and president OF
the Consolidated Hoat Store 90. This
bond Is an open one. conditioned to
cover any shortage by the son. Mr..
Brown has voluntarily offered his on
q t... mn.
The examiner says the stock is Of no
value. rs a double liability assessment
must be made. He will. as receiver,
make every effort to collect all the debts
due and in every way discover the
banks exact condition. Tntil that time
he will not make Il positive statement
as to the extent Of the liability beyond
that it now appears To be $lS3, 900. The
bank was the depository OF nine build
ing associations and Of the adjoining
corporations OF Bellevue. Dayton and
other towns. as well as of about 1900
individuals and firms
There are no indications Of an ac-
cOmpicc or of any one knowing about
Browns departure or destination.
Cincinnati. Ohio, Nov l9-The experts
who have been working. today, or the
books Of the German National Bank at
Newport. place the shortage Of brown,
the missing assistant cashier ana indi-
vidual bookkcepcr. at $3.50. Browns
salary was only $500 per year Cases are
now cited whore ne spent more than that
amount in one day. His bond was for
$1,000.
Washington. Nov. 19.-Comptrollcr
Of Currency Dawes has appointed OH
Yer J.. Tucker, national bank exam
liner, temporary receiver Of the Ger
man National Bank Of Newport, Ky.
Mr. Tucker telegraphed the comptroller
that he had taken charge owing to the
discovery Of a defalcation amounting
to yls5,o00, and thereupon the conptroIl-
er appointed him temporary receiver.
The last examination OF the bank was
made in May. The following is a state
rnent OF the condition of the bank ar
shown by its sworn report to the
comptroller Of the currency under DATE
Of September 8. 1900:
Liabilities: Capital stock. $500, coo;
surplus and undivided profits, $50. $50;
circulation, $3.50; due TO other banks.
T4o,Asos $Jj1, borrowed
money, SO. 1000; total, 1886 7ei
Resources: Loans and discounts.
s5l3.45l; United States bonds 10 secure
circulation. s25. 0oJ; premium on bonds,
:l03l; banking house. furniture and
fixtures, s32.0l2; real estate owned, 1884,
a9e; cash on hand ana with banks,
$780, 2J; total. s.3C.75l.