The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1914-01-22
Hs H eAersea with Wreckins
9eyery Bank.
State Finds Shortage Of e40, 900
In His Accounts.
Did Well Till He Fooled With
Stock Company.


Shortages of probably $4,000 in
his accounts with the Severy State
bank and in worthless notes held by
personal friends. are allegations
against President NJ. ]. Bidwell OF the
looking for Bidwel1 with a warrant
charging him on two counts with
making false and fraudulent state
ments and misapplying the funds Of
the bank.
For three weeks the sheriff and
county attorney OF Greenwood county
have been looking for Bidwell, who
was for many years one OF the most
prominent citizens OF the county.
Almost every day some new story OF
Bidwells flyer in high finance is re-
lated. Usually it is some intimate
friend of the Severy banker who re-
veals the new tale of trouble. But
Bidwell did not fail 90 make use of
the bank OF which he was president
and 1t was through this institution
that he secured the cash on many Of
his friends notes. BidweTl is also
charged with misappropriatfon Of
funds with which he was trusted and
1t is charged that as a real estate loan
agent he secured farm loans for GUS
TONERS of the bank and forgot to turn
the money over to the farmers who
owned the land
In the little town of Severy it is
claimed that Bidwelrs operations ex-
tended over period of three or four
years. He had for many years been
a successful business man in the town
OF 200 people. Some months ago Bid
well engaged In business in Wichita
with a relative. "A stock company
was organized and Bidwell's bank
suddenly became the clearing house
Tor the discounting Of farmers notes
who were induced to buy stock in the
Wlcnlta enterprise. which is now
bankrupt
When the bank was closed January
Is and State Bank Commissioner Saw
yer placed a deputy examiner in
charge Of the business. the records
showed that the institution was capt.
talized at $4,000 with a surplus of
10000. deposits of $4,000 and about
were given as the cause of the banks
troubles Now it is claimed Bidwelrs
operations were largely responsible
Tor the institutions embarrassment.
There Were Stock Schemes.
Through the scheme to sell stock in
their Wichita enterprise, thousands Of
dollars worth of paper was dumped
of Attorney S. F. Wicker. who has
been investigating the case for the
state. Stock selling agents visited
prosperous farmers In the vicinity of
Severy and interested them in the or
ganization Of a stock company to
manage the Wichita store These
farmers were promised 90 per cent
dividends Sometimes the farmers
pleaded shortage of cash and did not
care to invest because Of the crop
shortages.
That's all right" the agent is said
have told 10 oh
you we have confidence in the propo-
sition, we will loan you the money to
pay for the stock
Usually the farmer bought stock.
Sales were made in blocks Of $500 or
$1,000. The farmers note was taken,
sent to the Severy State bank. en-
dorsed by President Bidwen and dis
counted. 1t all looked perfectly good.
But according to the Greenwood coun-
ty attorney, Bidwell was getting the
money and the banks cash fund sank
each time a new stock purchaser was
found. These notes are now in the
bank. Some of them are said to be
good. Some are worthless. Farmers
near Severy, Piedmont, Fall River and