Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-02-10
MANY HOLDERS on
LEBANON BANK'STOOg
BALK AT DEFICIT
Leave Meeting When Pr
posal Is Made to Ass...
Them to Make Up Sal
600 Shortage.

sCHAEFFBRsTowN. Pa
stockholders of the First Natioro, !, -
OF this place, in town meeting ~. 'aak
morning, were told that thev r,n.. "a Wy
at once $4,000 in order to save a., 's9'
from being wiped out as the ras,,. oaak
mismanagement of its affairs bv ~ ~
Binner, the suicide cashier. This -, a'n
was declared by Uriah b. Hors.
dent of the bank, was necessar,, :, !.
bank was to be reopened for hn.,l u'
but he gave no assurance thai q
sented the total loss suffered bv ~. "
stitution. Wy ~
The failure of the bank officials 10 h.
the stockholders anything definite !. ~
way of figures or complete jnfor,,'. -, ~
as to the manner in which the Ios. .4
sustaIneo' mad the effect of leAdlns
majority to refuse their assent a. s,
motion that they put up the t,os W us
once. Instead there was an alrnos, ~. ~
eral exodus from the meeting. onIv ~ ~.
stockholders, represented by the dlre.te,"
ate, coming forward and aflxinr 49,
names to the pledge to subscrIbe ,noa'. sl'
Mr.. Horst, who was made chsirnsn Y,
the stockholders meeting, said tha st y. "
deficit required to be raised at onco 4.
order TO reopen the bank included ~
debit accounts of the three mon ra..,
by the suicide cashier in his last no,a rsa'sa =
his wife and children. He expressoa ~ 10
pelief that not one pahny could be ~
allied from A. j. Hoverter. the Lahora-
lie insurance agent. who is now iips.
arrest on charge of aiding Binnss +.
the misappropriation of $lS,5Si.21 by rneaps
OF worthless checks. The second MAJ
ID. B. kefer, a Middletown cattle dealar
he declared. was considered good Sos ~
of the $4,000 which hs is said to owe srS
that the third man, Irwin Horst sohass.
erstown cigar manufacturer. ia loots1
upon as certain to pay every penny ~ ~.
1000 account " n'
The Kiefer and Horst accounts. with ~.
$4,000 represented by Blnner's bond X.
chairman pointed out would eventuaIlv
reduce the present deficit of s41.OOO Il
$4,000. but the whole of the SHORTAGE i.
demanded at this time In order TO AN.
the bank. As 1t is. there is every pros.
pect of the Treasury Department havlr,
a receiver appointed before the end of M
week. w
OF the 250 shares of stock issued by n.
bank at 800 a share 176 shares were voted
at the organization of the today's meet
ing. of which A. S. Brendle. solicitor and
a director of the bank, was made secrs,
tary.
1t was Brendle's motion that each o,
the 250 shares of stock be assessed slg
and Immediately thereafter most Of The
stockholders left the meeting AS they
were filing out through the doorway
Chairman Horst called out that thers
would be another meeting held this eve
ming, but no attention was paid to II.
Examiner Logan, with T. Il. Harris, az
auditor from the Treasury Department d
still engaged in endeavoring to straighten
out the tangle in which Blnner's accounts
have been found. 1t is declared that the
statement that both Kiefer and Horst
will be able to make good every dollar Of
their obligation contains no assurance
that no more arrests will be made, as Il
now appears that others are deeply Ii.
volved. o- t