The searchlight. [volume] (Culbertson, Mont.) 1902-current, 1911-03-03
Farmers & Merchants Bank OF Cul-
bertsOn Closed Its Doors Mon
day and DepOsitors Mourn
Cashier v. II. BOstwick Skips the Ira la
Loo With Probably $4,000 and the
Sheriff is After Him

Assistant Cashier Verne IL. Bostwick lett
Culbertson Saturday on No. ?, ostenslbiy
for the purpose Of going east to raise mon
ey to tide the bank over a tight place, leav-
ing the keys with Operator O. A. lanes to
give to Mrs. L. NJ. Bostwick. cashier. as
he had neglected To give them to her when
he left the bank. 1t is said that Mrs.
Bostwick stayed in the bank until closing
time Saturday and later went to Bainville
to visit her sister Mrs. Goodrich. Mr..
lanes rendered the keys to Mrs. Bostwick
in the depot but she did not take them, re-
marking that Verne would be back Mon
day before she would.
Monday morning neither the cashier nor
her assistant showed up at the bank when
the time came to open same. A commit
tee of depositors got together and held a
mesting. Attorney Frank NJ. Catlm and
Hurd 4 Lewis we're retained by a commit
tee of creditors. Howard Lewis, of that
firm. arrived here from Glasgow Tuesday
morning. In the meantime Mrs. Bostwick
returned from Bainville accompanied by
her brother-in-law. Mr.. Goodrich.
When the bank was opened the bank
vault was found open as also was the time
lock safe. The only money found in the
bank was about : go which was in the silver
rack which had been left in the vault and
probably overlooked by Mr.. Bostwick
when he left.
To 90 back little. it is reported. that
the bank building had been sold to the
| American National Bank OF Helena last
fall. and that 4. c. Johnson. president o'
the American National Bank of Helena
was here a couple of weeks ago. and that
collateral, consisting Of notes and mort
cages were turned over to him al that time
for money to be advanced by him or his
bank to the Farmers & Merchants bank
The amount advanced by the American
National Bank is variously estimated al
| from twenty to thirty thousand dollars.
Mr.. f. II. Johnson. representing tn,
Helena bank. was here Tuesday. Attor
neys Catlin and Lewis and Mrs. BostwIcl
worked on the books until noon, when the
latter was taken III. At her request the
books were wrapped and sealed and placed
in box which was again sealed. They
were then taken 70 Glasgow and placed in
a vault of the court house in care of CLERK
of Courts c. c. Beede.
From the hasty examination made IT was
impossible to state just the amount OF LA
bilities and assets. but it is reported that il
all the collateral can be realized upon that
the depositors will be paid IN full,
1t is reported that there are between
500, 600 and $50, 900 of loans and discounts,
about two-thirds of which were turned over
to the American National Bank Of Helena
which they hold simply as collateral to Sc
cure the money advanced by them. and
that after that money has been realized the
balance will be turned over to the creditors
The salary Of the cashier. Mrs. L. NJ
Bostwick, is said to have been $3.50 pei
month and that Verne II. Bostwick re
ceived as Assistant Cashier sIoo PEE
month. 1t is also commonly reported tina
the assistant cashier spent slightly NOR
than his salary since coming to Culbertson