The Richmond palladium. (Richmond, Ind.) 1906-1907, 1906-05-15
SHORTAGE IN
BANKS FUNDS

Continued From Page One.)
the directors and added that it was
rare in making such examinations to
find the assets and deposits SO well
distributed. The bank during the. past
year has substantially increased its
deposits, its loans and it's profits and
was never in better or sounder con-
dition than at the present time.
The first regular examilt ltion of the
bank after this shortage occurred was
made May LIST 1906, by ]. NJ. McIntosr
the regular bank examiner who made
such examination with full knowledge
of all the facts and circumstances as
above set out
The following letters of Mr.. McIn-
tosh relating to the bank will be found
self explanatory.
ConneTsville, May T. '06.
Mr.. A. D. Gayle,
Richmond, Ind.
Dear Sir:
| enclose you such a lettr as the
Comptroller has authorized me to
write Should it become necessary
you are at liberty to use it in any
way.
With kind regards and best wishes,
am Yours truly,
j. M. Mcintosh.
The following is the letter referred
to above.
To Whom 1t May Concern:
This is to certify, that after a care
full examination into the condition of
the First National Bank of Richmond,
Indiana made on this first day of May
1906, | find that the shortage in cash
for which it is alleged a former Off
cial in the bank is responsible, has
been fully made good, without the
loss of dollar to the bank. l further
find from the records of said bank
that the said official is not now, nor
has he been for period of over four
months, connected with this institu-
ton in any way whatever.
Respectfully J. M. Mcintosh,
National Bank Examiner.
Richmond, Indiana, May l, 1906.
A. D. Gayle,
VIM. D. Foulke,
John L. Rupe,
Charles F. Shiveley,
S. E. Swayne,
James w, Morrison,
Daniel Moss.
Dire ctors.
Left in January.
| Mr.. DuHadway left Richmond in
| the early part of January He went
South, ostensibly to recuperate his
! health, and at the time he went
away he had been made to feel that
prosecution was not likely, though
discovery of the shortage was made,
he not only admitted his wrong-do-
! ing but stood willing to surrender
himself to the authorities and re-
ceive the penalty. The fact, how
ever, that the shortage had been
made good very promptly, made it
appear that such a procedure would
be unnecessary and following Mr..
| DuHadway's resignation as cashier
which was promptly given, he de-
parted for the South. Never in Wig
orous health. Mr.. DuHadway had
broken down under the strain of his
own knowledge of the shortage, and
it is believed that during a period OF
year or more he had lived in hope
of being able to recuperate his losses
and thus covering up the shortage
that had occurred. Neither bank
officers, family or friends venture an
opinion as to what caused Mr. Du-
Hallway to draw upon the bank S
funds. The opinion prevails, al
though it is lacking in anything
tangible, to substantiate it, that he
may have speculated in stocks, but
if he did this all his deals must have
been made out of town and through
some agent, for Mr.. DuHadway very
rarely left his post of duty even for
a day.
Popular With Patrons.
| There were few bank officers in
Richmond who were more generally
liked than Mr.. DuHadway. He was
popular with patrons of the bank and
with all persons with whom he came
in contact. The books under his care
or immediate oversight shows that not
a single entry was falsified. He did
not appropriate funds to his own use
by the methods generally adopted
| Money that he used was taken IRON
the reserve fund which was kept with
in an inner vault of the bank safe
Whenever funds from this vault were
called for, Mr.. DuHadway always at
tended to the matter, possessing the
combination of the vault. 1t was dur
ing his illness last December that il
was found necessary to gain access to
no in n
possession of another officer would not
open it. The vault was then forced
from its setting and the discovery
made that there was a shortage. Mr.
DuHadway was confronted and with
out hesitation admitted that shortage
discovered was chargeable to him. He
asked no consideration be shown him.
in fact said he did not intend running