The Washington herald., 1907-02-14
HALF MILLION GONE
Connecticut Bankers TheftS
Amount to S565,000.
POLICE SEARCH FOR WALKER
Treasurer of New Britain Savings
Institution, Missing Since Last
with Him-Part of $4,000 Church
Fund said to BE Missing.

New Britain, Conn. Feb. lS.-This after
noon when the examination Of the Savings
Bank OF New Britain by the bank audi
tors was completed, President Philip Cor
bin made a statement that the full
amount of Treasurer William F. Walker S
defalcatiOn is S565, 900.
How long these stealings had been
going on, and what has become of the
money are the questions everybody is
asking. The generally accepted theory
is that Walker had been specializing for
several years, and that he has met with
large losses.
Il is generally believed that whatever
Walkers losses We're. he got away with
a pretty big pile at the finish.
Attorney General Marcus A. Holcomb
telephoned from the capitol this morning
10 the bank in New Britain and got into
communication with the State bank ex-
aminers, suggesting the ACCESSIBILITY of
stopping the payments to depositors until
the exact condition of the bank is learned.
To this suggestion the trustees of the
bank agreed and the laws provision that
permits a bank to require notice of nine
" days before deposits can be withdrawn
was applied
Police Search for Him.
Criminal proceedings against Walker
viii be begun tomorrow William II.
Hart, representing the committee of
stockholders that met in New York
Tuesday night. stated to-day that the
whereabouts of Walker. who disappeared
Saturday, are known, and that no effort
would be made to apprehend him, for the
reason that ne had promised to make res
titution Of $l50,0o) in bond, which it was
then supposed represented the total of
his regulations. but the police are con-
unuing their search for him, and they
declare his whereabouts are unknown.
\ letter received by President Corbin,
of the bank, from the missing treasurer,
led 10 the discovery OF the absence of the
$l5Q,000 securities. In the letter Walker
wrote incOherently, it is stated. that the
securities would be found missing, adding,
however. that they would be returned
later. Walker wrote that the securities
were formerly contained in a remote
vault at the bank, hut that ne had alb
stracted them. The vault designated had
not been examined by the bank officials,
but when search was made. the securi-
ties. as told i'm the letter. were missing
Later. when an express package was
received from New York at the home
of the missing man in New Britain it
was believed that the package con-
tained the securities, but II was found
only to hold the coat and vest of
Walker.
Church Fund short.
It developes that a special audit Of
the funds of the Connecticut Baptist
Association, of which Nv Walker was
the treasurer. has been ordered. and
that a big sum Of money is probably
missing from these funds, which
amount to about $4,000,
A committee of the Connecticut Bap-
fist Association was to meet Mr.. Walker
for a special audit of accounts last
Saturday.
Shortly after this the State bank ex-
amineT was going over the bank books.
when Walker was taken suddenly i'll, and
at his request the bank examiner post
poned his work. Mr.. Walker went 10
New York and from there wrote the
committee Of the Baptist Association that
he was III and could not meet them. Il
Is supposed he had been transferring Sc
curities from the bank to the Baptist
AhtANo anu WV VISA anu nu0 iCAENI
when an investigation by both was
threatened. It was authoritativeiy denied
to-day that any OyeTtUTes had been made
TO the bank directors by MI Walker
The First National Bank which is sup
porting the Savings Bank, has received
offers of assistance from Baltimore Bos-
ton, and Hartford, and cash was supplied
at the Savings Bank as fast as demanded
until payments were ordered suspended