Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-08-15

veStigatiOn into the affairs of the YORK
County Savings Bank which was clos
ed Friday following the discovery of
irregularities in the books of Richmond
II. IngersoIl. treasurer of the institu-
ton for so years. Mr.. lngersoll now
will prove shortly to be his death
bed, no longer holds the Office of treas
urer Harold J. Staples having yester-
day been chosen to fill the place. The
new treasurer. with State Bank Elk
aminer William B. Shelton Of Lewis
ton and President c. Fl. Prescott of the
bank will tomorrow continue the in
vestigation.
The extent of the shortage in the
banks funds is not known, nor can it
be known until the officials have in
spected the books of the institution
and then compared them with the 1000
pass books of depositOrs. Notices are
to be sent tomorrow to the depositors
to forward their books Immediately.
Mr.. Ingersoll. lying at the point of
death. passed the night without change
in his condition. He has now been
unconscious three days. and the worst
is feared. His family has joined him
in his town residence, having closed
their summer home at Old orchard.
Although officials of the bank would
like to get an idea as to the extent of
the shortage from the former treasur
er, no efforts to this end are being
made. Instead in the few momentary
lapSeS into consciousness which he has
shown those around him have care
fully avoided any mention of the bank
or it's affairs. In this note to the bank
officials left after he knew that an in
veStigation of the banks affairs was
under way, the former treasurer made
no mention Of the amount of the dis
Crepancy.
Fears of a run on the other banks
in this city and in SacO when business
opens tomorrow morning were consid-
erably quoted during the day. The
mill operatives in the two cities. who
compose the greater number of the
depoSitorS in the closed institution and
in the others. appear to take the mat
ter coolly and banking men tonight
were of the opinion that the precau-
lions they had made against a run
would not be necessary. However. if
it does come. all say they are well pre-
pared.
1t had been expected that the pastors
of the local churches might say some
thing about the closing of the bank,
but the subject was not mentioned
from any pulpit.
During the night a slight change for
the better was noted in Mr. Ingersolls
condition
Bddeford Me. Aug. 1.-THE an
nouncement Saturday morning that the
York County Savings Bank. located in
the City building. had been closed by
order of the bank commissioners. fol-
lowing the discovery of q shortage in
the accounts of Richmond II. Inger-
soil, who has for half a century been
treasurer of the institution. created
one of tire greatest sensations in this
community for many years.
Mr.. Ingersoll is critically ill at his
home on Crescent street. having been
found there in an unconscious cond1-
tor Thursday afternoon by his daugh-
ter. Mrs Annie Lord and Harry Fl.
Goodwin. and his recovery is consider
ed doubtful.
Mr.. Ingersoll left letter in which
he admitted a discrepancy but that is
he only portion of thel communication
which has been made phblc. 1t is un-
derstopd that it is pretty long. but
when it was written the bank officers
do not say. 1t will probably he given
out in full latter on.
Inst what the shortage amounts to
will not he known until the examina-
ton If the books, which is now ~
progress, is completed. Bank Com
missioner w. b. Shelton OF Lewiston
and tie assistant commissioner Will
liam G. Ellis of Gardiner left the city
Saturday afternoon but they will re-
turn Monday and with the trustees of
the bank will give the books thorough
going-over Notices have been sent
out to the 1000 depositors, large part
of whom are working people, to send
in their books SO that they may be
compared with the boks of the bank.
and thus facilitate the work of the Off
Gals in determining the exact condi-
ton of affairs. The securities of the
bank have been found to be intact and
it is believed that the institution will
not suffer greatly.
One theory of the false entries al
legged to have been made by Mr.. In
gersoll is that his pride in the bank
led him to adopt a system to cover up
temporary losses made in Western in
veStments 81 years ago until such time
as profits enough could be earned to
meet these losses. 1t is not considered
that he has profited in the least by the
doctoring of the books.
The bank was closed at 1890 Friday
and this action was followed by ru-
mors of Irregularities in the accounts
of Treasurer Ingersoll, but these were
not confirmed until Saturday, when
statement was issued by the bank of
ficials. The following notice was post
ed Saturday morning on the doors of
the bank:
CLOSED by direction of the bank
commissioners"
Late in the forenoon the following
statement was given to the public
''The York. County Savings Bank
was closed at 1890 Friday as thes re-
suit Of conference between C. H.