The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-05-27
KISSING CASHIER 4
JUGGLER OF NOTES
Passed Through Machine,
Came Out Uncanceled.
MISLED HIS OWN BROTHER
Inves tigation at Southport, Conn, Re-
veals Sherwood's Art at Sleight-
of-Hand.

SOUTHPORT, Conn. May Pin the
investigation of the affairs of the South
port National Bank. which closed It's
doors a week ago, the manner in which
the now missing cashier, o. T. Sher-
wood, Is declared to have manipulated
its POUNDS has been laid bare. Sherwood,
it Is asserted, obtained $4,000 by his
operations.
The notes given by the town of Fair
field to the Southport National Bank,
and which have been paid by the town.
We're never Cancelled by Sherwood About
$S4, 600 of these notes, it is said, We're
reissued by him. These are held by
Bridgeport banks. The question of liza
bility has been raised, and one opinion
is that the town may be called upon to
pay them.
In Need Of Money.
Whenever the town of Fairfield was in
need of money for local improvements,
the selectmen would sign note, and the
sown treasurer, Francis Sherwood. a
brother of o. T. Sherwood, and the teller
in the Southport National Bank, would
tain the loan required.
When the loan was repaid to the bank.
Francis Sherwood would hand o. T..
Sherwood a check for the amount of the
note, and o. T. Sherwood would go to
the safe and take out the note, place it
in the canceling machine. make noise
as if the paper were being Cancelled.
/ u, cy-ft Won't in
the bank where all the Cancelled notes
are preserved. Francis Sherwood never
suspected that anything was wrong
Notes Apparently Cancelled.
T Apparently, the notes were conceled
| before the eyes of the town treasurer:
/ but they were not actually Cancelled.
Some of the citizens here say that the
| town treasurer should have destroyed
/ the notes after they had been repaid
! but that IS not the usual method here.
1t was customary to deposit them, after
! they had been paid. in the safe of the
! bank for future reference, because some
times they were referred to as prece-
/ dents for this or that action.
/ o. T. Sherwood would say after man
I lpulaIllR the CdQCGIlH6 iudCHlHcs 4NOh
| III place these notes with the other
Cancelled ones The bank officers say
/ the way he managed TO manipulate
/ these urcanceled documents would
make professional magician envy him.
Wild Stories Denied.
! Mr.. Deeper. receiver. said that he
could not make any statement until the
affairs OF the bank had been looked into
more fully, but he wished to have the
wild stories emanating from here. as to
| the hundreds Of thousands OF dollars be-
! ing embezzIed and the talk of rewards,
| denied.
! The grand jury has found indictments
AGAINST the missing official for the en-
! bezzlement of $500, 900 Secret Service
| detectives are on his trail. but they
will not say what clues they have dis
/ covered.
The sensational story printed in New
York that the mayor OF Southport has
! called a mass meeting to discuss the
situation is false. There is no mayor
CT Southport 1t is part of the town OF
Fairfield It's affairs are managed by
a board of seIectmen. No reward has
been offered.
Business houses here are solid, and al
though a little inconvenience has been
experienced a. times by the tying up OF
their funds, arrangements have been
made by the Bridgeport banks which will
relieve the temporary embarrassment.