The Topeka state journal., 1900-11-19
WRECKED THE BANK.
Cashier Steals More Than
Double the Capital Stock

Cincinnati, Nov. 19.-United States
Bank Examiner Tucker today took pos
session of the German National bank at
Newport, Ky, and posted a notice that
the bank would remain closed, pending
an examination.
Examiner Tucker also announced un-
officially that Frank M. Brown, the as
sfstant cashier, was missing, and that
a partial investigation showed that
Brown was short about $201, 900.
Brown had been with the bank eigh-
teen years, was one of the most trusted
men ever connected with this bank, and
it is stated by the experts that his op-
erations extended back as far as ten
years.
The capital stock of the bank is only
500, 600. Browns shortage is double
that amount, and more than the reserve
and all the assets, including their real
estate. While Alvord got away with
500, 900 in New Y ork, he did il in large
bank Brown did not have so much TO
go on, and seems to have gone the full
limit for a small bank in city of less
than 10000 inhabitants.
The First National bank of Newport
was wrecked two years ago by Cashier
Youtsey and now, with the German Ma
tional closed Newport has only one bank
left.
Fol. two weeks there have been rumors
that Brown was short, and some de-
poSitorS withdrew their accounts. Three
weeks ago the bank examiners made a,
good statement for the bank and the
by referring to the report of this exaTnl-
nation and to their last statement, in
which all of Browns defalcatiOnS were
covered up by him.
Last Wednesday Brown left, and 1t
was announced that he had gone hunting
on a vacation. He did get q ticket for
Odin Ill, but it is learned now that he
did not go there, and it is generally be-
leved that he is out of this country with
plenty of money in his possession. 1t
is learned that Brown was suspended
last Tuesday, pending an investigate ton,
and that experts have been at Work all
the past week, while the officers and di-
rectOrS have been making announce
ments that everything was all right.
Last Friday the officers and directors
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 statements to the press as
late as last midnight, but the statements
We're not accepted by the Commercial
Tribune, which exposed not only Brown,
but also the bank officers, and caused
a panic in Newport today, SO that the
bank had to be taken in charge by the
examiner. The widest scenes were wit
messed in Newport today, and serious
trouble is feared tomorrow when the
officers and directors will be confronted
by the people, who have hunted them in
vain today.
Brown was living a fast life, with
wine women and gambling in his roper
tOire. His career was not cut short by
any discovery at the bank until a. jea1-
Gus woman gave him away. Brown is a
widower, with one son, aged 10 years,
who lives with Browns father, ParlS
G. Brown, ex-mayor of Newport, and
one OF the leading business men of Gin
cinnati Last summer Brown visited
Yellowstone Park and a woman whom
he is said to have lived with in Cincin-
natl wanted to accompany him. but this
was denied her When she aScertained
sometime afterward that another Wo-
on
trip, the Cincinnati woman gave the
bank officials some information that
brought about q crisis. The only fare
well letter that Brown is known to have
left was to this woman, whose apart
ments are on Ninth street, in Cincinnati.
and in this letter he admits that he
had secured about all that he could get
and that the time had come to say fare
we'll Brown was a great poker player,
with the limit never too high, and he
had been a plunger on horse races for
years. His bets on the races were fire.
quently too high for the pool rooms in
Covington, KY, and he had brokers in
both Chicago and New York.
The officers of the German National
bank are: President Henry Weidener.
vice president, Jamess M. Southgate;
cashier z. G. Remme.
All of them are wealthy and response
BILE men, and they will be able to make
the losses good, but the fate of the
bank is in doubt. owing to intense feel
ing among the depositors.
Among the directors Is Rdr1S < Brown,
the father of the defaulter. who is known
from Pittsburg to New Orleans as the
head of the stores for boat supplies.
The cashier of this bank is also the
paying teller and Brown relieved him
as paying teller when the cashier went
to his dinner. IT is stated that Brown
did most of his work during the noon
lunch of the cashier.
There was quite a run on the bank
Saturday but the usual announcement
was made, as it continued to be made
to the press till after midnight but
more of a rush is expected at the bank
today even if there has been a notice
posted that the bank is closed pending
investigation and some fear that there
tent of violence.