New-York tribune., 1907-12-19
NATIONAL BANK CLOSED
Je7celerS', of North Attleboro
Mass, an Examiners Charge.

North Attleboro. Mass. Dec 1S.-By order OF
the Controller of the Currency. Henry F. Cur
rier. National Bank Examiner. took charge to-
night of the affairs of the jewelers. National
Bank. whose vice -president and cashier. Fred
erick E Sargent. WIS found dead last night In
a batht 10 at his apartments. BY vote OF the
directors the bank was not opened for business
to-day. and a notice posted on the door an
nounced that the institution would remain
closed pending examination of Its books
Alfred Ever and Henry F. Currier. national
bank examiners, Immediately began an investi-
CATION in whica they were aided by the direc-
tors and other bank officials Tonight another
notice was posted on the door OF the institution
This notice read follows.
This bank has been placed in my charge by
order Of the Controller OF the currency. r--,o
Medical Examiner c. S. Holden stated to-day
that he had not given the cause Of death of Mr.
Sergeant as accidental drowning" as reported
last night. but simply drowning" Further
than this he declined to discuss the case
Mr.. Wigein arrived here from New York late
tonight and went into conference with tho
directors OF the closed institution and the bank
examiners When the conference came TO
close. at midnight the following statement
signed by the board of directors. was made
public:
The directors Of the Jewellers National Bank.
ing 10 arrive accura Je condition OF the pank
The bank has been placed hy Contro!er hddseAy AZ, N
Cu-rier, together with National Bank Examiner
aITr S dt m the e true condition of the bank
the details have been complicated ny the late
isfactorily complete their work. The above is
given out by the board OF directors
II was learned tonight for the first time that
when the body Of Cashier Sergeant was found
I..-
merts. it was clothed In nightshirt. Mr. Sar-
geant was at the bank all day yesterday. and
did not leave until after closing time at 4
o'clock His death is supposed to have occurred
about , o'clock
Boston. Dec 1S-At the National Shawmut
Bank, which is the correspondent in this city oc
the jewelers. National Bank. the officials were
greatly surprised and shocked at the death OF
Vice-President Sergeant. Mr.. Sergeant. as we'll
as President A II. Wiggin of the jewelers.
Bank. received their banking training in Boston
institutions and We're held in high esteem. MF
Sargeant connected with the City Trust
Company as well as the Commonwealth National
Bank before going to North Atteboro- Among
bankers on state street II said that Mr Sar-
geant in recent years had become interested In
other lires Of business outside the bank. some Of
which had not been wholly successful.
Albert H. Wiggin. of this city, president of ths
jewelers. National Bank of North Attleboro.
Mass. in speaking about the sudden death OF
Frederick E. Sergeant vice-president and cashier
of the jewelers. National Bank. which IS be-
ievcd to be suicidal. said yesterday:
The sudden death OF Cashier +. +. Sergeant nat
urally excited and caused the directors to make an
immediate investigation OF the condition OF tho
Jewellers National Bank of North Attleboro
Mass In this examination they assisted by
National Bank Examiner Currier OF Boston. Tho
investigation shows that Mr.. Sergeant had ex-
ceeded his authority and that, without the knowl-
edge of the directors, he made loans TO local
Germs in which he was individually Interested The
board of directors pending the completion OF the
examination, decided that IL was best for the bank
remain closed.
Mr. Wggin added that although he was presi-
dent of the bank he lived in this city and the
conduct OF the affairs Of the institution had
been largely left with the local board The
Chase National Bank is the local correspondent
of the jewelers. National Bank.