Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-08-15
Now Near Death, Says He
Sought to Protect Banks Financial
Standing commissioner Orders
The Banks Doors Closed.

missioner Shelton of Lewiston, pend
ing the completion Of a special ex-
animation being made by the State
banking department. 1t was not re-
opened Saturday, and it is not prob
able that it will be for the transaction
of regular business for several days.
1.-The state bank commissioner came
to the city Wednesday morning, the
10th inst, for the purpose of making
special audit of the deposit account.
which had not been practicable previ-
ously owing to the method of keeping
the bonks. Pursuant to suggestions
from the State department and the in
stance of the trustees of the bank
these accounts had been balanced and
transferred to a new system. the work
having just been completed. so that a
substantial audit was possible without
calling in the individual pass books.
although the latter will be necessary
in order to get at conditions exactly.
1.-THE commissioner worked on the
books all Wednesday and Thursday
drawing off the individual balances
and spent Friday forenoon checking
and verifying his figures and making
comparisons with the treasurer's books
as result of this work he became
convinced that there was substan-
tal discrepancy between the two Zig
ures and those shown in the general
ledger kept by the treasurer. He i'm
mediately reported the result OF MS
investigation to the president of the
bank with the above result.
when seen the commissioner said
that it would be impossible to get at
the exact facts until all of the pass
books had been called in and COM
pared with the books at the bank.
Steps will be taken to have this done
as rapidly as possible. and until it can
be completed he did not care to make
a detailed statement.
"Mr. IngersoII. who has been treas
urer of the bank since Aug. 3. 1860. is
confined to his home seriously ill. hav-
ing been found in a critical condition
Thursday afternoon. He was present
in the bank Wednesday during the first
day of the examination. but made no
statement then. letter has. how
ever, since been found which he left
rocked up in his desk at the bank. in
which he admits that a discrepancy
exists, although he is unable to state
the amount.
He claims that no part of the short
age is due to any use of the bauk' S
funds for himself, but that it comes
from false method of bookkeeping
adopted by him years ago to save the
bank temporarily from losses made at
that time on Western securities pur-
chased before the present investment
laws were enacted
''The security compartment of the
vault was opened Friday afternoon
ana the securities owned by the bank
found entact. 1t is hoped that the loss
to derositors will not be large. but it's
exact amount cannot be ascertained
until the veritication of the pass
books is completed"
Mr.. IngersolI was present in the bank
during the first day Of the examina-
ton, Wednesday. out he made no
statement then. Afterwards the letter
was found. he having locked it up in
his desk. When the securities depart
ment of the bank was opened Friday.
all of the securities were found intact
AS the treasurer did not appear at
tie bank on Thursday, when the dis
crepancy was discovered. his daugh-
ter and Mr.. Goodwin, who is assistant
treasurer went to his home. where he
was found in a critical condition He
las ueen in the habit of taking head
ache powders and his daughter thinks
that he experienced trouble i'm that
connection and also had an attack of
heart failure. Physicians are of the
opinion that he might have taken too
many OF them. He is in semi-con
scious condition much of the time. but
apparently realizes very little of what
Is going on about him.
The trustees of the bank SATURDAY.
morning held special meeting and de-
ciared the position of treasurer va
cant, eiecting Harold J. Staples. who
mas been employed there since last
spring. to succeed Mr.. Ingersoll. Hon
oharieS ii. Prescott. the president of
thc bank. said Saturday that the trus-
'ees We're hoping that the trouble
would not he very serious one and
t"en he went on to say that thew had
Tor some time been dissatisfied with
Mr. lngcrsolfs method of Keeping his
books, becoming so insistent that m
to'Gate methods be employed that n
change was agreed upon.
Inc working people have placed their
savings in the York county bank Iargo,,.
necause of the great confidence thar tbey
mad in Mr. Ingersoil. The securities
winch protect the depositors are gilt
edged and the last statement issued bv
'ne pank in April showed it to be in a
Splehdid condition financially, with a s,r-
Plus of over 100000 above everything
Richmond Fl. IngersolI was born in
Bangor April 30. 1884, and in early life he
moved to Portland and was educated in
the pubic schools of that city. He en-
'ered the United States treasury service
IN washington and remained there until
rev years. when he was transferred tn
the custom house in Portland. He re-
signed his position to become treasurer
OIL the York County Savings Bank. which
was established in the spring of 1860. be-
ginning his duties in August. He has a
VINE and daughter. Mrs. Annie Lord, and
MS nome on Crescent street is one of the
incest In the city. He also has a sum-