The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1901-03-06
LA CYGNE BANK CASE,

The La Oygne (Ransas) Journal of Feb
rusry % contains the following:
Thur day morning, Immediately after
the Citizens bank opened for business,
Myron A. Waterman, deputy bank exam
liner, took charge OF the institution and
stopped the business. He closed it for in
vestigation. George S. Turner cashier Of
the bank boarded the train Wednesday af-
ternoon stating that he was going to YER
mont where his wife is in very poor health.
Leslie A, King, who Is a bookkeeper, open
ed the bank for business Thursday morning,
but it was only few minutes until thelex.
aminer took charge as above stated.
This (Friday) morning we called on Mr.
Waterman and asked II he had any state
ment regarding the condition OF things
He said things looked ad-decidedly I'M
satisfactory. However, the examiner thinks
that, unless some greater shortage shows
up than has so far, every depositor will be
paid in full. In all probability a special
deputy examiner will be put in charge of
the banks affairs and a settlement will be
made within ninety days"
Mr.. Turner was many years ago resi-
dent. Montpelier, clerk in the store OF A. l..
Carleton. On the death OF Major Carleton
the business was continued in partnership
with A. j. Howe and subsequently Mrs.
Carleton represented her interest in the
business. Mr.. Turner afterwards went to
Kansas, married the widow of his former
employer and some years ago organized the
Citizens bank at La Cygne.
Mr.. Turner arrived in Montpelier on
Wednesday, where his wife has been re-
siding for several months past, and where
she is now In a delicate condition OF health.
Mr.. Turner states that the bank was I'M
fortunate in 1893, making some losses in the
| financial disturbances of that year. Its
capital is S25, 900, and himself and wife hold
a majority OF the stock. Its deposits,
| largely from the farmers OF the region, run
from some $4,000 to 100000 II is State
institution, issues no circulating notes, and
was organized for the purpose OF receiving
deposits. selling exchange and making
| loans.
Mr.. Turner says there are no IRREGULAR
| ties In the bank management The dis
turbance arises from local, political and
other causes. He has been somewhat in
| politics, and politics out there has few OF
the amenities of life. In the conflicts OF
politics some enmities have been created,
and this publication, Mr.. Turner says, has
| its origin in these local sources OF hostility.
Mr. Turner came East to visit his wife
| here at Montpelier, whose condition OF
| health is as stated above. 1t was his pur-
pose TO send his nephew from Kansas City
to represent him in the bank during his alb
| sence. He had no idea or intimation that
the institution would be closed, and 1t is
his purpose to return so soon as the condi-
ton OF Mrs. Turner will permit.
| j. l.. Tuttle, chief Of police, has received
kilograms from La Cygne and Mound City,
requesting him to arrest Mr.. Turner on
certain charges, but the officer has not felt
warranted to act on these requests which
have lacked the proper credit or authority.
| All the circumstances appear to substan-
tiate Mr.. Turner's version OF this affair He
was highly respected when a resident Of
Montpelier. Former friends here will need
something more conclusive than present
indications to convince them that there is
anything wrong in his connection with the
| bank.