Woodville Republican. (Woodville, Miss.) 185?-current, 1902-02-15
ARRAIGNED.
yice-Prssiden: Of a Chicago Savings
Bank in Limbo.
WITH WHOLESALE LOOIIEG.
The Amount "wilfu1ly, Frnadulent-
Iy and Knowingly Taken from
the Bank Reaches into Millions
accommodating Cashier.

the Bank Reaches into millions
accommodating Cashier.
Detroit, Mich, Feb. -Vice-Pres-
ident Frank c. Andrews Of the City
savings bank, which has been in the
hands of State Banking Commission
er Geo. L. Maltz since yesterday
morning, was arrested late yesterday
afternoon and aTraigned at 2:S0
o'clock last night on the charge Of
''wilfully, fraudulentIy and knowing
ly" securing from the bank without
security and without the knowledge
of the other directors sum opprox-
imating $1,OOO,OOO. He was released
on $4,000, and his examination was
set for February 21.
Cashier Henry r. Andrews, through
whom F. c. Andrews is said to have
secured the money by means of over
drafts and certified checks, is seri-
ously i'll at his home with nervous
prostration.
In addition to a total indebtedness
to the City savings bank Of 81, ,f5s, 600,
to secure which Mr.. Andrews has
signed over to that institution all
his real estate holdings and stocks,
bonds and other securities. 1t is es-
timated his shortage win total about
81 100000. Four local banks AMI a
trust company holds checks, certified
to by Cashier Andrews to the amount
of s662 600. A considerable number
of these checks are protected by se-
curities deposited with them by Mr..
Andrews. .. 4
AS soon as Commissioner Haltz
took charge of the institution he i'm
mediately began an examination of
it's books 1t was found that Cashier
Andrews had permitted F. c. Andrews
to overdraw his account 100000.
Other liabilities brought f. c. An
drews' total Indebtedness to the bank
up to $1,15s,O00. In addition to this
Cashier Andrews had certified to
checks for F. C. Andrews which he
had deposited in other banks to the
amount of $66a,0OO. At the close Of
his examination Commissioners Maltz
last night issued the following state
ment of the banks condition at the
close of business February s:
Resources-Totol loans and dis
counts, bonds, mortgages and securi-
cies, $2,363,O93: overdrafts. $91s,s52;
real estate, s1O,s99; cash in banks,
S2ss,697; other assets, $1S,922.
Liabilities-Stock surplus and un-
divided profits, s225, 5,212; deposits, ss,-
37O,251.
The examination showed that the
record of E. C. Andrews transactions
was not kept in the regular way, but
in a memorandum book. The first
record of transaction between
Cashier Andrews and T. c. Andrews
is January II, but the examiners es-
innate that the transactions have
been going on for about six weeks.
President F. c. Pingree explained
the manner in which the certified
checks was obtained as follows:
''F. C. Andrews would draw check
for the amount he wanted and have
it certified by the cashier, Henry R.
Andrews. He would present this GER
titled check to the person with whom
he was doing business. and ask him
to hold it out for that day, as the
bank was not in funds to meet It.
Perhaps he would thus hold it out
for two or three days and, eventual
ly, when there was money enough
in the bank to meet the check he
would go in and take it out. There
would be only slip of paper IN the
drawer, and the withdrawal would
be put down as a cash item. With
this money he would in person pay
the certified check and tear it up.
This was done time and again.
The City savings bank was the de-
pository for the funds of the county
their balance there being
more than Sl5O,OOO, and F. C. Andrews
was arrested yesterday afternoon
on complaint sworn out by Audi
tor Christian, after a long confer
enee between the auditors and Prose
cutor Hunt. The warrant was served
on Andrews, who is Commissioner Of
police. by two of his detectives. in
the offices of the Detroit Trust Co.,
where he had been in consultation
with officials Of the bank holding his
certified checks. The City savings
bank was also the depository for the
board Of education, which had S467,-
300 on deposit. The other banks will
temporarily advance funds to the
board of education for salaries and
running expenses.