Belding banner. (Belding, Mich.) 1889-1918, 1908-09-24
BANKER CHASED
by |RA1E mob
TAKING AWAY SECURITIES OF
PiTTSFORD BANK WAS
PREVENTED.
BANK HAD BEEN CLOSED
Parma, Hanover and Pittsford People
Aroused by the Conditions Become
Much Excited.

Cashier W.. n. Burletson. of the
Farmers and Merchants State bank
OF Parma, who Is interested also in
banks in Hanover and Pittsford, has
incurred the displeasure of the bank
ing commissioners department by his
methods In Parma and the bank was
closed. This action was taken after
interviewing the cashier and vice
president of the bank and confer
ence with the attorney general. Elk
aminer Ayers examination showed an
impairment OF the capital stock of the
bank and confusion of its assets with
private ventures of Cashier w H..
Burletson
From the closing of the bank has
come many stories OF financiering
that have excited the depositors and
subsequent movements of Burletson
have added TO the strain of the situa-
ton. Chased by an excited crowd,
much like a mob, in Pittsford. and
giving up there $4,000 of securities
and the keys of the bank; headed OFF
at Hanover where he sought to get
into his bank there; and with an
equally excited body of citizens await
ing his return to Parma. William II.
Burletson, farmer and financier, put
in an exciting day Saturday.
Burletson's adventures in Pittsford
were the most exciting. undoubtedly,
in his career of 35 years, or there
abouts. II has been told that after
the banking commissioners put man
in charge of the only state bank in
Burletson's trio Of financial institu-
tons Burletson went to Lansing for
legal advice. Whether ii was in pur-
suance Of the advice so obtained is
not known, but Burletson appears to
have set forth straightway TO procure
money. And to. procure 1t his plan
seems to have been to withdraw de-
posts and securities from the two
private banks. e:
His first proceeding was to write TO
Cashier Melvin Carey, of the Hanover
bank, instfucting Carey to meet him
1Burletson) at the train with all the
money in the bank and a list of the
depositors. Carey, instead Of doing
this notified some of the depositors
and put a time lock on the bank vault,
setting the clock to open Monday
morning
Unaware. of this setback Burletson
hied him to Pittsford He got into the
bank there, and he was heading for
train, satchel in hand, and in the
satchel $4,000 of securities, when the
town woke up. Men followed him. to
the train, and he returned up town
with them
1--WE hadrhim scared" is what one
Pittsford resident reports Scared or
not, Burletson was backed up the
steps of the bank by a crowd of about
100 Pittsfordites, and he then made
them an offer.
IF you'll put $4,000 into the bank
| can,pay 100 cents on the dollar" he
said. I'll sell you the bank building
and the lot it stands on for $4,000"
The upshot of the talk was that
Burletson left in the care of F. w.
. Lyon, the village druggist, the satchel
with the $21, 900 of securities and the
keys of the bank, and was permitted
to go without further hindrance.
While the villagers of Pittsford
were taking this inventory Burletson
was being taken across country, TO
Hillsdale, in an automobile. That city
he left for Hanover.
At Hanover he was duly met at the
train by Cashier Carey. but instead
of the money Carey had brought with
him two citizens who were cognizant
of what was going on.
Can | get into the bank?" was Bur
LESSONS question.
The time-lock impeachment was ex-
planned to him and he said, simply:
"All right, then"
He came to Jackson, and went TO
Parma.
Parma depositors have learned that
the affairs Of the state bank are in
bad shape and that sensational dis
closures are imminent. They were pre-
pared for this when they learned for
the first time that the Farmers &
Merchants bank of Parma has been
without officers since last May. The
supposed president, G. w. Bullen, un-
ostentatiously sold his stock to Cash
Ter w. III. Burletson sat that time, as
did A. NJ. Helmer, one OF the directors,
and F. K. Corwin, prominent stock
holder.
Real estate speculstions is the only
explanation as yet to be had to &C.
count for Burletson's financial down.
fall. He will make no statement