The interior journal. [volume] (Stanford, Ky.) 1912-1984, 1915-03-23

ment made. 1t is known that one O.
the bank owners was in Indiana
short time after the failure of tn,
Cicero bank, but what he was doins
there or what he accomplished is no
known.
But it is known that Metcalf hat
mortaged his new home for $1,5O(
and on that mortgage he had pait
$500. When he left he turned back tt
the Mckinney bank the stock he own
ed in the concern, and also handed
over to the bank the property he built
on which there was $1,000 unpaid
mortgage.
After Metcalf left Mckinney, ar
expert accountant Was employed tt
go over his books. Owners of the
bank say the accounts were badly
mixed and jumbled up so that il
was impossible to tell anything about
them. The expert Strengthened out
the books and the bank owners say
that Metcalf's accounts were correct
There was no shortage and jumbled
condition of the accounts was the re-
suit of carelessness, the bank owners
said. That is as far as the bank own
ers will go.
There are two mysteries connected
with R. H. Metcalf leaving here. One
is how he happened to hook up with
the Hinshaw crowd and the other Is
how he got the money to buy the Cic-
ero bank. The first one has been sob
we'd. He told the bank owners that he
had an uncle i'm Indiana who suggest
ed to him that he had a good oppor-
tunity to buy a going bank at Cicero.
But he did not give the name Or loca-
ton of the uncle.
However, it seems that Stanley Nc
Intosh, pretty well known through
out Indiana, and who is now a. Mish-
awake, had much to do with Met :alf
taking a plunge into Indiana finan-
ces. Mcintosh was born and reared
at Mckinney and knew Metcalf. The
story as related here is that f. NJ.
Hinshaw was searching around for
some one who would like 90 buy a
nice little bank at Cicero. Ind, and
Mcintosh suggested Metcalf as good
man to run the bank. The details of
the deal are not known here. As to
where Metcalf got the money to buy
the bank no one seems to know. AS
far as can be learned he had no ready
money with which to buy the Indiana
bank, and diligent inquiry of many
citizens here failed tc elicit any in
formation on that point. They all sand
they did not know unless re nought
the bark with the Metcalf and Beck
paper which was found in the bank
when the receiver took charge.
However, the people here do MT
10 IN %
Metcalf. The general opinion is that
he was trimmed by the Indiana crowd
and that if he has done anything
wrong it was done in desperate eff
fort to save the Indiana bank. He
will have. plenty of backing from this
place in The criminal charge that was
filed against HIM in Indiana, and nu-
r erous letters have gone from this
locality assuring him of the trust that
is still imposed in him. / did not find
any one however. who had made Of
fer of financial assistance.
The arrest of Metcalf came as a
great shock to this locality and the
general expression was that Metcalf
was not smart nough to cope with
the Indiana crowd and that he had
been trimmed by the bunch around
Cicero and Noblesville. People think
that Metcalf was all right, wading
close to the shore m the financial
but when he got out into the
current, he was not strong enough
swimmer.
Another question that is asked here
is how it happened that the Indiana
polls bank examiners did not know
that the $4,000 of Metcalf paper
was not good and if the signatures to
the Beck paper were genuine? One of
Metcalf's brothers was here and gave
the people of Mckinney the informa-
ton that the depositors of the Cicero
bank would lose about 100000.
On March 1, 1914, the deposits in
the Cicero bank were S153,210.45.
When the bank failed the deposits
we're as follows:
deposits - $66,99.38
Savings deposits :-----.--- %, 3O4.38
Certificates of deposits 80. II, 114.10
Total deposits - $1O2,417.68
This shows a falling off in deposits
Of $50,927.77 and the people down
here are wondering why that much
Of decrease in deposits in a little
more than year did not attract the
of the Indianapolis bank ex-
aminarS