Waterbury evening Democrat., 1907-02-13

announced to-day by the directors of
 the New Britain Savings Bank, and
 this led to the closing of the bank shortly before noon. The officials in. voked the ninety-day clause, which closes the institution without furth- CT notice to the depositors. At the
 time the doors were closed the de-
 positors were making a great demand for their money.
 New Britain, Feb 13-A director
 and officer of the savings bank of New
 Britain in an official bulletin issued
 shortly before noon to day announced
 that the peculations of William r.
 Walker, treasurer of the bank, who
 disappeared in New York Sunday
 amount to $45O, 900, this sum in nego-
 tiable securities is missing. The state
 ment is based on the report of the
 banks examiners who have been in-
 vestigating it's affairs since Monday.
 To-day State Bank Examiners Ken
 dall and Noble started an investiga-
 ti0n. but it is not believed that their
 examination will reveal greater
 shortage than the amount above
 stated, the directors stating that the
 books and cash balance up to cent.
 Over 0ne-half of the missing securi-
 ties are in railroad bonds.
 Although treasurer of the bank,
 Walker seldom went near the books
 and the opinion that the directors
 have held since the treasurer disap-
 peared, that he took no cash. was af-
 firmed when the auditors made their
 tentative report to-day. In a bulle-
 tin posted at the bank today the di- rectors advise depositors to leave
 their money in the institution, assur-
 ing them that it Is absolutely safe.
 The statement is made that the bank
 is solvent and that there is no end of
 money at the disposal of the officials
 The disclosure of the shortage of nearly half a million dollars was ex- pected by those who have been fol- lowing the affair at the bank during the last few days. but just how Walk CT disposed of this fortune in gilt edge securities is mystery. It is assert ed that all the bonds and securities of the bank were intact when the last examination of the bank was made on October 1. 1906. so 1t would ap- pear that Walker made away with the big amount stated all within four months. One of the officers to-day thought that if Walker Is found in New York, perhaps some of the se- curities would be found in his pos session. There had never been any intimation that Walker was specu- lator and to say that the directors of the bank and his numerous other &C., quaintances in New Britain are shocked by the disclosures. is put ting 1t mildly. It is the biggest sem sation New Britain has ever known.
 A special meeting of the banks di- rectors was held this morning at which some of the board were in fa- vOr of posting ninety-day clause on the bank. closing the institution for that length of time without further notice, but President Corbin was op- posed to 1t as were other members of the board. At this meeting C. F. Ol- dershaw was appointed acting treas- urer to assume the duties of the miss- ing official until the present trouble is strengthened out. A committee of three directors. Lester A. vibberts, Henry E. Russell and Philip Corbin was named as an advisory committee to take charge at the bank for a few days, one of the members being pres ent at the bank each day.
 President Corbin stated after the meeting that he would make public the letter he had received from Monday. in which the treas urer admitted a shortage at the bank. Further details of the note have not been published and Its contents are awaited with interest. It was also at the close of the direc- tors special meeting that the direc- tors would issue an official statement covering the details of the banks af- fair since Treasurer Walker became 'indisposed'' during the presence of Bank Examiner Kendall last Thurs- day. At that time Walker said he felt i'll and that he would go home parly in the day to rest up. "Tll be town to the bank later" he told Mr Kendall That was the last seen of him at the bank. SO Mr Kendall put ,ff his examination That was the lime to dig into the affairs of Walker said one of the bank directors to-day. not to wall until he recovered from lis sickness
 The run on the bank which got un- Ter way early Monday morning was <ept up to-day. a big line forming at he institution before the doors open Il for business. It continued all day md as before. majority of the de ,csitors were foreisBers. For the most part the amounts were small put they counted up and it is prpha- sly that nearly S1oo 0o will bc with irawu before the day is over. Dur lz the last two days nearly s19p.uO las been taken out by the excited iepositors.
 Thoee interested ia the banks sf- airs and the public in general are Iwsffinr caxpriy the report of fine