The Portland daily press., 1901-02-11
The DANvRRs BANK.
People Indfsaast AEaia,t Men who
MfIked NJ.

|
officers Of the South Danvers National
bank have MIXED that institution. On
the other hama ~ each new development
appears there is an even tirmer dstermi-
nation on the part OF the shareholders and
depos.tors 10 see fomebody punished
IL possible. Ex-Cashier Foster comes In
for q good share OF the execrntion but he
IL not the only one who Is condemned.
The directors and managers OF the instl-
tuition are blamsd almost equ ally, while
the syst EN- of examination is declared
TO have been faulty in that IL permitted
the affairs TO reach the state they appar-
entity did reach.
The announcement that the bank ex
aminer, Irving b. Sayles, had brought
suit against John W. Dickinson reoov-
or $40, 900 which It Ia claimed he secured
from the bank on his personal notes,
brings out q new storm of indignation
The capital stock Of the south Danvers
bank was $3.50, 0OU, and he bank sxami.
ner is suing Dickinson for almost three
times the amount permitted BY law for
the bank to loan to any one person.
There has been considerable talk today
about the value OF the bond which Foster
furnished as treasurer OF the bank. 1t
was for $50 000 and was drawn in 1889.
Ii was claimed by some who pretend to
have inside information that this bond
had never been renewed since 1t was first
given almost twenty years sgo, and on
that account, it was worth no more than
the paper on which IL was written.
Others are OF the opinion that Fosters
bond for SEQ, 200. signed by himself. Ira
Fostsr and Jacob Young,is perfectly good
III the men on 1t or any one OF them was
good for the amount involved.
Arrests were being predicte1 tonight,
but nobody seemed to know who IL was
that might be arrested. None of the sew
eral other institutions ana enterprises
with which Foster was identified are be-
lieved to have suffered. Charles III. FL
field of Salem, q director OF the Monson,
Me-, Slate company Of which company
Foster was treasurer, was seen this AZ
tsrnoon. He said that his com pany ha1
suffered nothing at Fosters hands.
The south Danvers Mutual Fire Insur-
anoe company, OF which Foster was
treasurer, has had its accounts examined
and they are perfectly straight. The
company, however. loses $4,000 through
having Ill shares of the bank stock.
The suit ton Home for Aged People also
lost some money through holding several
shares OF the stock, but its finances, OF
which Foster was the custodian In the
capacity of treasurer, are properly 40
counted for.
All the other many enterprises in
wbicn he had part announce that they
have not suffered any loss through Fos-
ter.
Persons who have known Foster In
timately for many years say that they do
not believe he has taken cent for his
own uss. His habits were not expensive.
IL he is an embezzler, 1t Is believed that
1t was purely technical and done through
his over-willingness to help out his
friends and business acquain tances by
permitting over drafts and accepting
notes Of questionable value.
FOSTER STILL IN JAIL.
Boston, February 9.--George Ii. Foster,
formerly cashier OF the South Danvers
National bank OF Peabody, who was ar
rested vest srday on the charge OF en-
bezzling $500 OF the funds Of the bank.
was still at the Charles street jail today,
as he had failed TO secure bail.
Interest In tae case is still lively here,
but developments today were meagre.
MIR Foster still is hopeful OF securing
hail, and he stoutly denies that he is
guilty of embezzlelnent lie says II he
had committed the crime he bad plsn ty
of chance TO have gone away months ago.
Among other things that have come to
light since Fosters arrest is the mention
of the name OF j. W. Dickinson OF Bos-
ton, as debtor Of the South Dznyers
bank.
Mr.. Dickinson, when asked about tbs
matter, said sharply: Suppose do owe
the bank, what thenp If owe it, In
tend to pay"
"Have you fioated anything like $780,.
OOO worth OF paper through the bank
!. az cannot say; have nothing at all
20 say about my dealings with the bank.
The directors or the receiver will tell
you"
1t is believed by those interested that
other arrests are to follow that OF Mr..
Foster. Who the persons are 10 not GER
tain. A full report OF the aft airs has been
forwarded to the comptroller Of the our
renoy, and 10 is understood all action
taken will be by his direction.
Receiver Hampton says he cannot tell
how much Will be paid to the deposit
tors.
Former Cashier Foster was treasurer OF
the Monson Slate Company of Monson,
Me, treasurer OF the National Flax and
Fibre Company Of Boston. treasurer OF
the United Tanners Glue Company, score
tary and acting treasurer Of the South
Danvsrs Fire Insurance Company of Pea
body, and other concerns. He is also as
signee OF A. +. walsh or Attleboro.
The Wallis school fund, Of which he
was treasurer, was all invested In stock
JNu