The Fulton County news. [volume] (McConnellsburg, Pa.) 1899-current, 1907-02-21
A SHORTAGE OF
OVER HALF MILLION
Savings Bank Traasurer's DefaIca-
ton Serious.
THE BAPTIST CONVENTION FUNDS.
A Statement Is Issued Dec airing That
the Institution Will Have More Than
Enough TO Pay An Depositors in Full
Treasurer Walker Bid Not Touch
Cash, but Abstrac.e ed Bonds.


-
New Britain, CT. Especially More
than half a million dollars worth of
securities were taken from the vaults
of the Savings Bank of New Britain
by the missing treasurer, William f.
Walker, according to a statement is
sued by the board of directors Of the
institution. following the collateral
in the bank by State Bank Commits
sioners Kendall and Noble. There IS
left surplus of about $143,000 over
and above the amount due the de-
positors, the actual shortage being
S565, 900. The directors believe the
greater part of the securities will oe
recovered.
AS the bank commissioners were
preparing a statement to give to the
directors Mayor George M. Lauders
sent letter to Governor Wopdrulf
asking that Commissioner Kendall be
removed from Office on the ground of
neglect of duty and incompetency
He pointed out in this letter that
when Mr.. Kendall began an exami-
nation Of the affairs of the bank
last Thursday Treasurer Walker, OF.
plea Of fitness. left the bank, and
Commissioner Kendall did not con-
tinue his work, but returned home
to await Walkers convenience, know
ing at the time that the latter did
not return home that day.
In an interview Mayor Lander says
he is prompted also to take this ac-
tion through personal knowledge that
the bank was not examined, as a
rule, until after an appointment had
been made by the commissioners with
Treasurer Walker, while they are
supposed to visit bank without
previous notice.
Bank SuspeDds Payments.
There was no little excitement in
and about the savings bank building
during the day, owing to the uneasi-
ness of hundreds of depositors, w1o
suddenly found that they could not
get their deposits under 80 days, tho
bank, upon orders of Attorney Cen
eral Holcomb, having taken advant-
age of the bylaws requiring notice
of withdrawal. The examination of
the bank apparently shows that
Walker did not touch any of the
ready cash or the book accounts, and
tut buOll ld6S 10 puiSly I'LL dpoli dStAoh
of bonds.
No one in New Britain has been
able to give q reason for his need of
the bonds, as members of his family,
his fellow-employes in the bank and
his partner in an outside business
enterprise declare that they never
knew of any speculative ventures on
his part. That he was interested in
some sort Of outside investments was
made almost certain this afternoon
by information obtained that Walker
early last week had considerable
telegraphic correspondence with par
ties in New York, and TO learn the
source of this the directors com
mittee went to New York.
The directors statement follows:
"The officers OF the Savings Bank
of New Britain, working with the
bank commissioners, have examined
the assets of the Savings Bank of
New Britain and find that thero is
an apparent shortage of about $685.
900. After charging this amount off
there will be still about S143,000 Of
a surplus, which makes the amount
due the depositors safe.