Daily Kennebec journal., 1908-12-12

orally believed here tonight that AL
bert S. Hoogs, the teller of the Beverly
| Savings Bank, for whose arrest a war
rant was issued today by the district
court at Salem, would be taken into
| custody tomorrow. Hoogs is charged
in the warrant with the responsibility
for shortage of $4,000 of the bank S
funds. The reason the warrant was
not served upon it's issuance was be-
cause Hoogs was critically i'll as re-
suit of having taken an overdose of
some narcotic yesterday.
The developments in the bank short
age case came thick and fast today.
The first intimation the public had
that there was any difficulty was VIII en-
President Robert r. Endicott and a
committee CT four who had been in
vestigating the banks affairs issued a
notice stating that a shortage or de-
falcaticn of $4,000 had been discovered
Next it was learned that Teller Hoogs
was critically i'll, and then that a war
rant had been issued for the teller's
arrest.
The physicians who have been at
tending HOogs stated today that they
did net think that the teller had at
tempted to commit suicide. as had been
intimated by one of the bank directors
in a statement today. The doctors
stated that Eoogs had been unable to
sleep for three nights and yesterday
afternoon took some narcotic the name
OF which was withheld He was found
unconscious four hours later by mis-
landlady and physicians were sum-
tha a
despaired of, but after working over
the man for many hours the doctors
today pronounced him out of danger.
but in a very weak condition. 1t was
believed that he would be sufficiently
recovered tomorrow to permit of his
arrest.
The banks condition was not affect
ed by the shortage. The institution Is
a large and prosperous one, and was
protected by a bonding company
against loss by defalcations. The bank
was conducting business today as
usual, and aside from the statement
issued by President Esndicott there was
nothing about the premises to indicate
that anything out Of the ordinary hau
happened
The announcement of the shortage
in the funds of the bank was made III
the following statement by President
Endicott:
1.-THE bank had apparently suffered a
loss or defalcation amounting to $4,000
Such an event is deplorable but the
bank is fully protected by surety
bonds to the amount of 100000 and VIII
suffer no real loss whatever.
1.-The bank is in first-class condition
and there is really no reason for any
depositcr to feel alarmed. We, how
ever, made ready a large amount OF
cash and have prepared to pay any
timid depositor at a moments notice.
Savings Bank Commissioner Pierre
Jay issued a statement to the effect
that the bank was in excellent condi
ton, that its surplus was s175.000 great
er than the amount due depositors anc
that there was no reason for any de-
positor to have the slightest anxiety
aEy money he might nave
on deposit at the bank.
Hoogs has been connected with the
bank for IS years. How long PERIOD
his alleged irregularities have covered
is not known, as the discovery was
brought about through new system
of bank examination on the part OF the
state officials.
On Monday the Massachusetts say
ings bank examiners visited the lnst-
tuition for their customary invest'ga-
ton of the banks condition. On TINS
visit they employed for the first Tune
a new system of examination, In when
the liabilities of the bank are looked
into. The shortage was not discovered
until the liabilities of the institution
were examined. The examination Is al
legged to have shown that while thc
ledgcrs and pass books were all right
for a trial balance, the ledgers were
found to have been re-arranged 70
with the cash books. Ihe
amounts involved We're individually
small but taken together figured up to
$4,000 When the matter was called TO
Hooy's attention he is said to have
great concern. According
to his friends he became SO worried
that he could not sleep and last night
he took narcotic to induce sleep
tnnly overdose