Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-06-02
TRUSTED CLERK GONE
Disappears After Selling
Stock Not His Own.
THE LOSS MADE GOOD
WILLARD II. MYERS UNDER
CLOUD OF SUSPICION.
Prominently Connected in Social and
Business Circles-Action Left to
Bonding Company.
THE LOSS MADE GOOD

the banking department of the National
Safe Deposit, Savings and Trust Company,
at 18th street and New York avenue. has
disappeared from the city, taking with him.
1T is alleged, the proceeds from the sale OF
forty shares of Mergenthalsr Linotype
stock left with the bank collateral on
loan. The amount realized by the missing
bookkeeper is said to have been fraction
short of $1,000. Sixty additional shares Of
the stock are missing So far the bank
officials have been unable to trace them.
and 1t is not known whether they were dis-
posed of at private sale or whether Mn
Myers still has them in his possession,
wherever he may be.
A trusted employe of the institution for
twenty-three years, the unaccountable dis
appearance of Mr.. Myers has been a severe
blow to the bank officials, his family and
the host of friends he had made through his
long association with business interests.
He was always regarded a man of the
highest integrity. Mr.. Myers resided at
12S r street northeast where his wife and
sixteen-year-old daughter are Frustrated
with grief He was a member of Calvary
Baptist Church and administrator of the
estate of his father, the late John Myers,
who was a retired merchant. So far as II
known the affairs of the estate are intact.
Mr.. Myers was forty-three years of age,
having been connected with the bank ever
since he was youth of twenty.
He has been with since he was q
boy" said President Thomas r. Jones OF
the corporation this morning, land i would
have trusted him as ] would a son."
Loss Secured by Bond.
Mr.. Myers was under a bond of s25 600 In
one of the Oldest bonding companies Tho
market value of the stock he is alleged to
have made away with was In the neighbor.
hood of 1880. so the bank is protected
from any pecuniary loss in the matter. In
order to save loss to the customers who had
deposited the stock as collateral the bank
this morning purchased 100 shares in the
market, paying, approximately, s17,J00 for
the block. Being thus protected, the bank
has left with the bonding company the
question of the apprehension OF the missing
official. BY marriage the latter issyelated
to number of prominent business men Of
the community. Representatives OF the
bonding company arrived In the city this
afternoon, and after consultation with
the officials of the bank and the family Of
Mr.. Myers their course will be framed.
The alleged wrongdoing of Mr.. Myers
differs from the ordinary bank defalcation,
in that his act was evidently a matter Of
impulse. Usually bank defalcations extend
over a period of years. and the final theft
is but the elimination of series OF wrong
full acts
'sThjs was a case" said one of the bank
officials this morning, where every system
of safeguard failed. Momentary trust at
least must be placed in some one and here
was a comparatively small Item or securl-
ties as opposed to a man whose services
had extended over a score of years. ana
who certainly seemed deserving or every
trust If ever any man did. He must nave
heep temporarily deranged, or overcome by
some strong and sudden passion or I'M
pulse.
all that man could desire. He had nearly
fnr no
lived and 1t had been furnished and fitted
out In the very best taste by his wife, VINO
had worked earnestly herself, and striven
In every way to help her husband, botn
mentally and financially. To his pretty.
young daughter Mr.. Myers always seemed
entirely devoted.
The Act Premeditated.
The missing bookkeeper chose most OPP
portune time for his alleged misdeeds
Early last Saturday morning he left the
bank stating to a clerk that he would be
gone for an hour or so on important per-
sonal business. At 1920 O'Clock message
was received at the bank over the tele.
phone that Mr.. Myers was detained ana
would not be able to get back before clos
ing time which was at noon, Saturday
being a half holiday. The next day. SUM
day. was followed by a holiday. Monday
being Decoration dav. When Tuesday
morning found the bookkeeper absent from
his desk the bank officials sent to his home
TO Inquire If he were Ill. There they were
confronted by the news that he had nov
been home since going TO market early SAT
urdav morning.
Nothing criminal was suspected at the
time, for It was thought Mr.. Myers might
have Joined party of friends to spend the
holiday out of town, and that his probable
message of advice to his wife had mis-
carried in some way.
As a matter of precaution. however, the
hank began an Immediate Investigation of
nFr funds
institution The examination, thorough
one was conducted by four officers or the
institution. and continued from Tuesday
morning until late last evening. All the
cash and securities were carefully examined
and checked up.
Result Of Investigation.
Everything was fully accounted for ex-
cent one package of Mergenthaler stock,
containing 100 shares, which had been left
bv customer as collateral for loan
made to him by the bank.
II quickly developed that Mr.. Myers, late
In the week, had called for this package of
stock from the secretary, Mr. Charles q.
Nyman for the alleged purpose of deliver
ing 1t to the customer. who was about to
nav his loan. Mr.. Myers, in addition to
being bookkeeper, acted at times as assist
ant to the note teller, and was constantly
intr,lsted with collateral in the same man.
ner that he secured possession of the Mer-
genthaler package. The loan was not paid,
of course.
The hank officials set to work to trace
the stock through the local stock exchange
where It was found that Friday mornine
last Myers had delivered to local broket
forty shares for cash sale, which meant
Immediately delivery of the stock. A check
on another bank In payment for the stock
was delivered by the broker to Myers late
Friday afternoon the amount being nearly
81 Ooo Further inquiry developed that
Myers had cashed the check In person Sat
urday morning.
AS stated the remaining sixty shares OF
the missing block of 100 have not been io-
Gated. and the safe deposit company this
morning purchased leo shares from local
hroker to replace those belonging to the
Customer but still held by the bank ~
collateral The bonding company will mako
full restitution, II is stated, without delay.
Mr. Myers was employed at a salary OF
81 SEQ. In addition to this he was notary
public and his fees from this source and
Frc,,, ofhar business attended to for the