The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1914-08-14


II An sorry to say there is."
with the banky"
YES"
What is it,"
Mr.. Enderby has embezzIed $780,
600 for speculation purposes and IL
short just that much
Good heavens" exclaimed the vice
president. That will ruin the bank
when it gets known"
Undoubtedly" answered Judge
Beatty amid the great perturbation Of
the other directors. 1T rests with you.
gentlemen. however. as to whether 1t
gets known or not"
with u.s."
Certainly. The bank is a fine bust
ness proposition for a small town. yet
such 4 defalcatiOn would seriously
cripple it. and a run following would
ruin it. Now. If you gentlemen want to
save the bank and protect your deposit
tors 1t can be done"
You haven't called Is here. ! am
sure" said the vice president hopefully.
without having something in mind
What is it,"
This" said the judge. "Enderby
has a number OF friends here who are
willing to back up their friendship for
him with hard money. If you gentle
men will guarantee to keep the thing
absolutely secret among yourselves
and to refrain from prosecuting Ender-
by. who will. Of course. resign from the
presidency and the directorate and
move away, his friends will raise $50
coo in cash. and they will place the
amount in your hands today"
If we should accept this offer" said
the vice president. amid a general muir
muir OF excitement. land the ten OF us
who are here should each put up
$4,000. the defalcation would be made
gOod?"
1T would" said Judge Beatty
promptly. The bank would be on a
sound financial basis once more. and
the $4,000 would be paid back from
the profits which are certain under ju.
dicious management"
And If we don't accept this Offer?"
asked Williams, the cashier.
1.-The bank goes to the wall, you lose
at least 100000 cold cash and what
ever else might be involved in a dis
astrous and expensive liquidation and
the small depositors suffer terribly"
I'm other words, you are Offering us
30 cents on the dollar" remarked d.
rector Taylor.
"Enderby promises to make good the
defalcation: he has certain matters
pending of little value now, but which
may bring In large returns. l am not
able to say just what they will be. but
he has put the matter in my hands.
and II the returns come in as he ex-
poets and as l expect. too. l will be
quick to turn over to the bank enough
to make good the d~efalcation."
"What evidence have we got Of
that?" asked the vice president
my word Of honor. SIR"
But aren't we all compromising q
felony?" asked Director Williams.
"Well." answered the lawyer. Il am
afraid. II you ask for a legal opinion
on that point. that we are. For my
part l don't mind telling you frankly
that l am doing it to save the deposi-
tors in this bank"
Mr.. Vice President" said a direc-
tor. Il move you that We accept Judge
Beatty's offer in behalf Of Enderby.
and II he will turn over to us $4,000
in cash we Jointly and severally agree
to say nothing to any n about the
defalcation. and that we further agree
to make good the amount over and
above the said $4,000 and to re0r.
Eanize and carry on the bank under
new management"
II second the notion said the cash
Ter.
Il suppose there 10 nothing to do but
put the notion" said the vice presi-
dent. Are You ready for the question
gentlemen? ?"
And thereafter the motion vas imme-
diately adopted unanimously.
Beatty took from his safe the $4,000
In bills which Enderby had handed him
the night before, the wrappings and
anything else that would have tdenti-
fed 1t as having come from the bank
having been destroyed.
Gentlemen" he said, there IL your
money. Here also is an agreement
which have draw up embodying the
substance of our arrangement, which
you will be good enough to sign"
"Gentlemen." said the vice president.
- document Of this kind you will all
sign with me. and. Judge Beatty. l
think You had better sign 1t too"
Certainly" said the Judge, As l
am to be its custodian. l have no OBJ
lection"
THAT is all. take itY' asked the
vice president
THAT is ALL" answered the old at
torney. land. while legally q action
II distinctly improper. ] think we have
acted for the best interest Of the stock
holders and depositors Of the bank. e.
pecially of the latter" ~
SVoo h,o< UO,,lH Tho ~ uok mn