The Bridgeport evening farmer., 1911-05-26
LAST ACT IN
 DRAMA OF DEFUNCT
 SOUTHPORT BANK Final Dividend Pays Off Deposi- tors in Full - AbscOnding Cashier Released From Prison After Serving Full Term
Special to The Farmer.)

Southport May 26-Depositofs in the defunct Southport National bank have been receiving this week notices that the last dividend due them will be paid as soon as they return signed re- ceipts to Ellis $. Pepper, receiver at Springfield, Mass. The dividend is 2.4 per cent and is the last act in a drama which caused the most intense excitement in the town eight years ago and which caused widespread sor- row. The dividend represents the un- paid interest on the deposits which were previously paid, from 1906 to 1S;1 It closes the affair as far as the Uni ted States Banking department is concerned but it's effects will not be eliminated from the town for genera tionS
 On May 12. 1903. Oliver T. Sherwood, cashier of the bank disappeared. He was last seen with fine looking blond in Stratford. With him disap- peared large sum of money the prop erty of the bank and of depositors. A few days afterward an investigation of the affairs of the bank showed a large shortage. The bank was. closed by order of the U. s. comptroller of currency for two weeks on May 19, but it's doors were never opened for business again. To this day the amount of the dafalcation of the cash fer has never been made public. Ellis s. Pepper. then cashier of the Pinchon National bank at Springfield Mass, was appointed receiver and took charge of the affairs of the bank. Since then the receiver has been gradually pay ing off the depositors. How much the stock holders were asked to put up to this amount has never been made public. On August 21. 1903, the first dividend of 50 per cent was paid. A dividend of 9 per cent was paid Oct aff ,,,,f followed July 6, 1906. These dividends cleared up the principal of all the de- posits in the bank The dividend just announced is final
 Although the depositors in the bank have been paid in full the stock hold ruined. The family of the cashier lost everything and the home of Cashier Sherwood's wife which was in her hus- bands name went with the rest The missing cashier had been administra- tor of estates and trustee of funds to an enormous amount. All of this was swept away with the funds of his own family.
 Sherwood got out of the country and baffled pursuit for several weeks but was captured at Panama on July 24 He had crossed the continent and sailed through the Pacific. He had passed as ''Dr. Sylvester" in his travels and pFacC1ceQ fneO1c1ne at Panamd. He was brought back by Detective Joseph Priest
 Sherwood was convicted and sentenc- ed to States prison for ten years. He was released last June having made about 3 years good time. It is said here that he is now in Europe although friends of the family say that he has been living in New York since his re- lease
 The people of this village are averse to bringing up the matter It was a crushing blow to several aristocratic families whose entire capital was swallowed up in the dealings of the absconding cashier. Besides the bank losses there were half dozen or more estates whose funds were in his hands The Mt Wilson Mining Company was one of the enterprises which swallowed up the money. Millinery establish ments and automobiles also drained his resources and those of his clients
 The affair will remain only as hor- rible memory to the greater number of people in the village.
 There will be a mass meeting of Christian Endeavorers in the South port Congregational church Tuesday evening" June 6. An interesting pro- gram has been prepared. Cars will be chartered. Final arrangements will be announced later