Fergus County argus., 1902-01-22
Cashier of the First National Bank OF
Great Falls speculated in Cop
per Stocks.
ACCOUNTS ARE SHORT $4,000
(Great Falls Tribune Jan. 2D.


A greater surprise could not have
been to the people of Great Falls and
the business men of northern Mon
tana than yesterday afternoon, when
a rumor first began to circulate that
H. H. Matteson, cashier of the First
National Bank of Great Falls, was a
self-confessed embezzler in the sum
of $4,000 of the banks funds and had
been taken to Helena by Sheriff II. E.
Benner, to be delivered to the United
States marshal. At first 1t was ru.
NOR and in a few quarters received
credence, but when the officers of the
bank. President Gold T. Curtis and
Bank Examiner James B. Lazear, who
arrived Sunday afternoon, confirmed
the report, then the surprise was com.
plete.
Last night there was meeting OF
the stockholders and heavy depositors
of the bank held in President Curtis
office. The affairs of the institution
were thoroughly gone over and the
result was the passage of resolutions
expressing confidence in the bank.
In the beginning the statement can
be made that the amount of Cashier
Matteson's defalcation can in no man.
ner whatsoever affect the bank, other
than the stockholders. Yesterday
morning there was meeting of the
stockholders and an assessment made
for $4,000 more than the amount of
the shortage, as it is known. This
was for the purpose Of having on hand
fully enough, and after the examina'
tion. now being made by Mr.. Lazear,
has been completed and the exact con-
dition shown, then the surplus, as de-
rived from the assessment, will be
turned over to those who have paid it
in.
AS indicating the confidence ex.
pressed, after the report, which spread
like wild-fire. became confirmed in the
business section of the city, there was
no disposition on the part Of deposit.
ors to draw out what they had in the
bank. On the contrary. the knowi-
edge that the institution is one of the
strongest in the state, with backing
in the east and the middle west, to a
greater extent than any other bank in
the northwest, was enough to allay
any fears as to its stability. The
hank officials made no effort to deny
the rumofs. When approached they
stated 1t was true and that other than
wiping out the surplus and undivid.
ed profits, which had been more thar
made good by the stockholders, there
was no evil effect. The deposits OF
the bank were much greater than the
Withdrawals.
Lost In Copper Stocks.
Mr.. Matteson's operations were sim
liar, in one respect, to those of Ben
ton ID. Hatcher, cashier of the North
western National Bank. which he
wrecked February 7th. 1897, and fol
which he was sent to the penitentiary
for term of five years. About a yeal
ago, SO it is said by those who knew
Mr.. Matteson very intimately, he be
gan specializing in copper stocks
With the advance, 1t Is sated, he wor
great deal of money. However
there camea change In the copper mar
ke and stocks fell. Soon what ht
hal made and his own private for
ture were swept away. Then. il II
believed he first began to appropri
ate the funds of the bank, in the hops
OF recouping his own losses.
Tie markets went against him an'
in tie end he found himself wher'
many another man has who, in the be
ginning had no intention Of doinI
wrong
Like all banks. the First Nationa
has on deposit with other banks II
the east, for exchange purposes, larg
sums of money II was the money Of
deposit with these eastern correspond
ents which Mr.. Matteson drew. III
kept the accounts In the bank here s.
as to tally With the amount Of none,
there shouldhave been in the eastern
bank by srstem Of false entries
which he NUT have known could no
run long befoe being detected. How
ever, 1t is very probable he hoped TO
a turn in the market to allow him 3
return this moiey, before 1t was di'
covered.
Acknowledges His Guilt.
However. there was nothing don
IN the matter un,l yesterday morr
ing. when he was onfronted and tol
OF what was known He acknowledl
ed his guilt, stating that the none
had been lost in copper stock gaml
ling and that he was willing to do a
in his power to relievN the bank. H
told OF the amount o his shortag
placing 1t at about $1,000 and the