Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-11-04
BANK OF TABOR Is CLUSED
Il. 0. Dye, Vice President, Has Borrowed
It's Funds Extensively.
MUCH OF SECURITY ohlO TO Be FORGED
Young Man Now at Home of His
Father in Council Bluffs, who L.
Wen Known and Highly
Respected Citizen.
MUCH or SECURITY oalD TO Be FORGED

SHENANDOAH, Ia, Nov. 2-(special
Telegram. )-word has just been received
here that the State Bank of Tabor c. A.
Barned. president, has been closed this
morning, the notice on the bank doors say
ing that 1t has closed to make an examin-
alton of the affairs of H. c. DYE, vice
president Nothing definite is known, but
IL is assumed that the bank is not seriously
involved. The bank has been under the
management of Clyde Hall. the cashier,
although Dye has been the director in
reality. Dye was supposed to be a board
of trade operator, was drinking some was
a base ball enthusiast and was living pretty
fast He was interested in oil wells and
gold mining schemes. His father is
wealthy resident of Macedonia, la. Dive
was, previous to few months ago. treas
urer Of Tabor college, but because of the
ugly rumors he was asked to resign the
place.
The following statement was made last
evening by Emmett FINLEY Of Council Bluffs
of the legal firm of Harl G. FINLEY, attor-
neys for the bank:
''Mr. Dyes direct Indebtedness to the
bank is about $4,000, but the bank is pro-
tected and will lose little, II anything, and
will reopen in a few days. Some time ago
the directors authorized a loan of 5000 to
Mr.. Dye conditional on his father, Sylvester
Dye, signing the note. 1t was discovered
Thursday that the signature Of Sylvester
Dye to the note was a forgery, Mr. Dye
without authority borrowed $500 Of the
banks money on his personal note 1t has
also been discovered that notes TO the
amount of Sl1.5OO on which the bank has
| loaned the money all bear forged sigma
| lures. The forgeries are admitted by Mr..
| Dye and he has turned over to the bank
about $4,000 of property, comprising stock
! in the bank, stock in the First National
, bank of Tabor real estate, mortgages and
other securities. The bank is further pro-
tected by a bond in the sum OF $4,000. on
| which Mr.. Dyes father and his uncle, VIII
loughby Dye OF Macedonia, are sureties In
addition to his Indebtedness to the bank
] Mr.. Dye owes outside parties about $4,000,
' this money having been entrusted to him
| for investment and on which he has been
| paying heavy interest The bank how
| ever, is not interested in the outside In
! debtedness of Mr.. Dye"
Asked II criminal proceedings had been
begun against Dye Mr. FINLEY stated that
| none had been up to last evening and
| thought 1t possible that so far as the bank
was concerned none would be, although he
could not say what course would be pur-
sued by the persons whose names had been
| forged or by the parties whose funds had
been dissipated by Mr.. Dye.
| The State Bank of Tabor is capitalized
| for $25 900 and has a surplus of 5000. Its
| deposits amount to about $4,000 The exact
condition of the bank will not be known
| until after the examination by the state
| bank examiner, now in charge. c. A
| Barnes is president and c. L. Hall cashier
] Claude Dye, the defaulting vice president
is at the home of his father, Sylvester Dye
in this city. He declined to be seen last
evening, enquirers being referred 10 Attor-
ney FINLEY. He is we'll known in this city
having been deputy county treasurer under
Brooks Reed for four years.
Mr.. Dyes financial difficulties, 1t is said
have been brought about by speculation
and dealing on the board of trade, although
in the latter respect he insists that his
losses were not heavy. His father and
relatives are we'll to do and it is possible
II criminal prosecution is not resorted to
they will pay up the young mans liza
biities.