New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-14
SAVINGS BANK CLOSED
,oco,,nts Were Kept Falsely for
twenty-five Years.
1ur TREASURER is DYING
,.,ts Said to Have Been
.Fixed" to Hide Bad Invest
meuts-Shortage Not Known.

II -,.s5sford Me Aug 13.-Pri6e in the
sol standing Of the institution OF which
had long been treasurer, and fear lest
announcement Of poor investments in
u-os,ern securities would hurt that stand
&c led Richmond II. Ingersoil to make
xa1se entries in the books of the York Coun-
= cevings Bank quarter of q century ago
10 10 continue the falsihcation through
- the wears without detection, each year
citing deeper In the Tluddle OF false fs-
This is the explanation given by the
Y s-sss,,rer following the closing Of the doors
.ba hank YESTERDAY after a discovery cf
r. shortage in the funds had been mace ny
T.. hank examiner That Ingersoh hliilseI
lid not profit by manipulation OF the &C
\ counts was the belief tonight OF bank o1i.-
| caIs He had been treasurer Of the oallh
| for fifty years. For many years nc iia1
,ersistently declined 10 take Nacauoh-
A month ago the directors OF ohe oa1!A
voted TO adopt Suggestion OF Cie
Bank Examiner and advertise Inc accounts
b. number in local paper requeSli's ue
nositors 10 compare them win u'e amounts
with their pass books and report any us
crepancies. ,-,,,.- :,
The hank is in the hands Of William B.
t,e assistant, Nj Ellis, President c H
Prescott and the trustees, has been exam
swing the books for several days
The banks doors were closed al O'Clock
..as,erday afternoon and notice was
rosted 10 that effect Notwithstanding the
-,,nl,c had 20 suspicion that the accounts
~ the Institution We're in tangled condi-
zion Treasurer Ingersoll, IN a letter which
=. left al the bank before ne went to ms
home Yesterday. admitted a discrepancy in
h his accounts. but did not explain the short
see The officials Of The bank are as Yet
unable 70 state the exact amount Of the
shortage and il viii probably be some time
before its extent Is known
President Prescott is one OF the most
hirblv. respected citizens Of Biddeford, and
& prominent il public affairs He has been
president only since 1903. Treasurer Inger-
soil IS confined TO his home seriously ILL.,
having been found in 2 critical condition
THURSDAY afternoon He was present in
the bank Wednesday, during the first day
Of the examination. but made no statement
then In his letter he said that no part OF
Ire shortage IS due 10 any use Of the banks
funds for himself, but that il comes from
false method Of bookkeeping adopted by
him years ago 70 save the bank temporarily
Prom losses made al that time through
Western securities purchased before the
present investment laws were enacted
The securities compartment Of the vault
vas opened Yesterday afternoon and those
owned by the bank were found intact II
i hcned that the loss 10 depositors VIII
roi be large. but its exact amount cannot
be ascartained until the verihcation Of the
rasshooks IS completed. AT one time the
deposits exceeded 1000. 600
When Treasurer Ingerson did not appear
a. he bank al dav Thursday. the assistant
treasurer. Henry H Goodwin, called al his
house He found Ingersoll in an unconscious
co-ci-ion PHYSICIANS said he had been
accustomed 70 taking headache powders
aa6 that he probably had been affected by
taking TOO many. Treasurer Ingersol has
been unconscious Two days, and tonight is
q the roint Of death
On Wednesday IngersoIl called on James |
Read. keeper q records and seal OF local |
lodge. and giving him some lodge papers, |
said Tn going away on vacation. |
Here are some books and papers the lodge |
vii need while ! am away" He said |
nothing further in reference 10 himself and |
1i-. Read thought nothing Of the incident |
until today.
Deposits o. the hank, according TO tle /
last statement, amounted TO $l,20s, S3I, the |
reserve fund was $4,000 and there Were
undivided profits Of 500 The estimated /
market value Of resources above deposits.
dividends and state tax is 500 500 q: the
Jcrsl liabilities are s. 2S3. 40S So Most Of the
cep1sIt0rs are mil workers in the Bidde-
lord and Saco cotton mills. and their indi-
VicEal deposits ale small. The other three
savings hanks are prepared 10 meet z run
Wien they open Monday
n Z Statement issued tonight President
Charles Il. Prescott. Of the York County |
Savings Bank. declares that no other hank |
c- ranking Institution Is IN the least af- /
,e1'ed By lis closing, and he urges Ge- 4
posters II other local hanks 70 refrain /
rom starting Z run. Nj. Prescott has |
uten president 81 the bank only about a |
Year