Montpelier examiner., 1912-06-14

lieved that the depositors and stock.
holders will have double check
against loss from defalcation and
forgery.
Some Specimen Cases.
Here are some of the cases which
moved the comptroller of the currency
to act:
George w. Coleman, bookkeeper OF
the National City bank of Cambridge,
Mass. kept a small personal account
on the individual ledger. He would
kite" his own checks through Bos-
ton curb broker and abstract them
from the mail as they came back from
the clearing house. as the cashier
never saw the contents of the clearing
house letters and simply posted the
totals OF the letters on the cash book.
The general ledger and the general
cash book were kept by the cashier.
In order to make the total amount of
deposits in the individual ledger agree
with the amount shown by the gen.
eral ledger, Coleman resorted to false
debit entries (plugs) and the reduc-
tion of balances when carrying for
ward accounts. Within FIVE years
/ NsOitHidH IOOipu tue DdHh vi UlOTS tudH
100000 and he is now serving a long
term in the state prison. The direc-
tors noticed the reduction of the de
posits in the bank. but attributed II to
competition The defalcation was not
discovered until the books were ex
amined by the auditors of the Harvard
Trust company to which concern the
directors had agreed to sell out.
Henry NJ. Dearing, cashier of the AL.
1 bion National bank of Albion. Mich,
is serving a term in prison. A search
of the cashiers desk. after the closing
of the bank. disclosed leaves removed
from the loose leaf individual and saw
ings depositors' ledgers carrying cred
IL balances aggregating S1S5,3171
which of course represented a short
age in each of an equal amount This
method of covering" had been In
vogue since the bank began business.
| The cashier stated to the examiner
that he found no difficulty at all In
deceiving the directors. The bills re-
| ceivable were added by him on an add
ing machine; the list was checked
with the notes of the directors. but at
no time. the cashier stated, did the
| directors check the total of the add
ing machine list with the general
ledger The assistant cashier stated
that practically all of the manufactur.
ing customers notes owned by the
bank were forgeries,
insect Quarantine Bill.
Representative Simmons of New
York on behalf of ths committee
on agriculture has reported favor
ably a bill to enable the secre-
tary of agriculture to establish quar-
antine districts for plant diseases and
insect pests and to regulate the Inn
portation Of nursery stock and other
plant products. Mr.. Simmons says
that under our present laws the Unit
ed States has become a dumping
ground for diseased and insect infest-
ed plants.
II the Simmons bill: is passed the
United States will be able to retaliate
upon Austria. Hungary. France, Ger
many, Holland, Switzerland and Tur-
key, all OF which countries absolutely
prohibit the entry from the United
States OF all nursery stock and ad-
NIT fruit only when the most rigid ex-
animation shows freedom from In
festation.
It is said that II the Simmons bill
had been made a law some years ago
the historic elms of Cambridge, Mass,
, might still be standing, including the
great elm. which Is still standing but
is almost dead under which George
Washington took command OF the Con-
tlnental army OF the Revolution. II
was the elm-bark beetle which was
the chief agent In the destruction OF
the Washington elm and the other
aims of Massachusetts. This beetle
slipped in from Europe unchallenged
and unmolested There was no quar-
antine to keep the pest out and as a
result splendid old trees are now be-
Ing chopped down to be used for FIRE
wood. y
Pests Come From Europe.
The authorities In the department
of agriculture have figured It up all
very carefully. and have come to the
conclusion that more than half of the
important insect pests of fruits and
farm crops are of foreign origin, and
that they now occasion a tax of nearly
half billion dollars annually. II has
been reckoned. for example, that the
Cdu JOSe bCdle, iHLTUuucen inIO tnih
country from north China. and subse-
quently carried into every state in the
Union. has already cost the orchard
lists $50 00000e0. and Is adding to this
sum at the rate of s5.000.000 year.
this annual charge coming from the
expense of spraying operations and
from the shrinkage in quantity and
value of the first yield. Another re-
Gently introduced foreign insect pest
is the alfalfa leaf weevil. whose raw
ages in the great alfalfa regions OF
Utah are SO we'll known.
No quarantine law. however good.
can now repair the damage to prop
erty which these pests have wrought.
but the future can be safe-guarded.
and the Simmons bill. II is believed.
will go long way toward accomplish
In this end.