The Washington times., 1902-03-14
Constable Assumes Pos
session of Institution.
MONEY A SCARCE COMMODITY
Secretary Browne Only Official to Re-
main at Post-Kretol Troubles In
volved Trust Company-Justice Brad
ley Issues an Order.

With the closing of the doors of the
Federal Banking and Trust Company, at
1922 F Street northwest. yesterday, on
writ CT dispossession the affairs OF what
is alleged to have been one Of the most
remarkable financial bubbles in the his
tory of the city have been brought to
close.
With cash capital that is said to have
been entirely exhausted in the first pay
ment upon the office fixtures, the promise
of an immense business that never ma
tcrialized and the absence OF single de-
pcsitor with money requiring four figures
to express, the operations of the company
wear farcical look.
Ever since the beginning OF the trou-
bles of the Kretol Company the trials Of
the corporation have been growing, and
some days ago, after having failed to
honor a check for $50 on an account of
SLIGO, which it is alleged had been de-
posted the previous day, the taking of
deposits was suspended.
All Try to Escape.
At this time there seems to have been
something of u rush on the part of the
directors and Others to escape from the
crash which appeared inevitable. The
only officer standing his ground was Mr..
K. W. Browne, the secretary and pro-
moter CT both the banking company and
the kretol Company.
Mr.. F. ]. Dieudonne, who appeared upon
the literature of the company as its presi-
dent. asserted that he had sent in his
resignation month previous, and that he
was longer an officer. while others of
the board of directors were equally posi-
tive in saying that the resignation had
not been accepted and that he was still
the administrative head.
The embarrassment of the company
was attended with but little excitement,
and but few persons appeared around the
doors. In fact, the directors board
seemed equally ignorant and Indifferent
as to the affairs of the company. All re-
quests for information were met with a
reference to Secretary Browne. who in
variably stated that after disposing of
the Kretol affairs he would see to the
Interesting of additional capital IN the
enterprise, and call meeting of the
board to determine upon a future course
OF action.
In every quarter, almost, except that
of one large lady depositor, the condition
OF the bank seems to have been accepted
as joke. One other party to whom the
affair also seemed to have presented a
serious aspect was the owner of the
property, to whom about $500 is said to be
due for rent. Every effort has been made
to secure the payment of the money, but
without success.
1t was then found necessary to resort
to extreme measures to secure possession
of the property. A prominent attorney
mo has been endeavoring to secure the
return of the s1,100 deposited by his lady
client, after a careful investigation of the
matter, announced that the company was
entirely without resources. and that it
was useless to attach.
Kretol Affairs Awake.
In the Offices of the Kretol Chemical
Company above the bank there was more
animation visible. Receiver Knox Sc
cured an order from Judge Bradley per-
mitting him to close up the offices of the
company in this city and remove the eff
fects to the factory at Alexandria All
of the employees have been discharged,
and last night the deputy marshal in
charge of the premises was the only per-
son to be found about the place.
Captain Knox was unable to stand the
by the constant incursion of stockholders.
and decided that the easiest way was TO
remove everything to Alexandria, where
the work of Strengthening cut the affairs
of the company Will be pushed with all
despatch.
Mr.. Knox was authorized to receive
and open all mail matter directed to the
Kretol Company. Secretary Browne and
all the officers and employees of the COM
hay inc int
ing with him in any way.
One of the most striking features of
the present situation is the difficulty in
which the company has been plunged in
its dealings with Mrs. Annie Campbell,
the widow of the inventor OF Kretol. In
consideration of 900 cash and other
good and valuable considerations, Mrs.
Campbell is said to have transferred TO
the Kretol Chemical Company all inter
est in the rights to the compound and its
derivative products.
As long as she was employed in the
compounding of the product all went well.
When a chemist employed by the COM
pany attempted to prepare the commodity
for the market it was found that the re-
suits obtained from the formula were far
from satisfactory. Mrs. Campbell has
been called upon for an explanation, but
none was forthcoming and the receiver
is in quandary as to the best way to
proceed in the premises.
What action will be taken in the mat
ter has not yet been determined. but it
will be impossible, those in position to
know state. to obtain satisfactory results
in the compounding of kretol until other
methods have been made known to the
company's chemist.