Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1920-12-23
CHARGE ROWLAND
WITH EMbEzzL|NG
President of Barre Savings Bank
& Trust Co. Accused of
Taking S25,9S0

Barre. Dec. Discharged with embe ling
s25,oS0 from the Barre Savings Bank &
trust Co, Frank q. Rowland. Its presi-
dent nearly 30 years, was arrested yester-
Jay morning on warrant issued by Judge
IL. Il. Scott of tho Barre City Court on
complaint filed by States Attorney Il. F.
Davis. The latter acted on representa-
tions made to him by George Il. Carpen-
ter, receiver OF the bank since November
60
The penalty for the offcnsc charged
against Mr. Rowland may be $1,000
line, or ton years In jail. or both. A hear
ing is set for January .. 1921. at Mont
pclier.
The arrest of Mr.. Rowland. one OF
Barre's leading citizens for many years,
caused sensation.
There arc five sections in the complaint
as brought by States Attorney Davis,
each of them charging Mr.. Rowland with
to his own use. The amounts named in
the Ave sections are: $1,000 alleged 10
have been embezzied on October 60. 1920:
$3.50 alleged to have been embczzied on
September Q. 1920 5000, alleged 10 have
been embezzled on July %, 1913; S105n,
alleged to have been embezzled on
November %, 1920: $500. alleged to have
been embeZzled on April II, 1916
The warrant for the arrest of Mr.. How
land was issued Friday evening and was
given to Chief OF Police James Sullivan.
Chief Sullivan yesterday morning notified
Mr.. Rowland he was wanted at the office
Of City Judge Scott in the Rowland
building at nine o'clock. and on Mr.. How
lands arrival there he was confronted
with the charge of embezzlement.
Mr.. Rowland was not arraigned. nor
did he plead to the charge. hut he asked
the court for time to think over what
manner of plea he wanted to make and
asked that bail he fixed This the court
proceeded to do. with the approval Of
states Attorney Davis. Bail was fixed
at $1,000, the maximum money penalty
for that charge. Fred L. Sargent was
accepted rs surety for Mr. Rowland.
Mr.. Carpenter. as state bank examiner.
closed the bank on November 90 last, and
the following day was appointed receiver.
Since then he and his assistants have been
going over the accounts OF the bank.
much of the time with the assistance of
Mr.. Rowland. The closing of the bank
was brought about following a run on
the institution for two days prior to that
action. The bank met the run for Il time
and then invoked the law requiring de-
posters to nle notice Of their desire to
withdraw. after which the state bank
commissioner took action as stated above.
The Barre Savings Bank a. Trust Co.
has been an important factor in the
financial. commercial and industrial life
of Barre for nearly 30 years and Mr..
Rowland. Its president. has been one of
the citys most prominent citizens for
more than So years. The bank was char
tered in 1892 and commenced business in
Barre the following year. with Mr.. How
land serving as treasurer. Mr. Rowland
was one OF the charter members of the
bank having been at the time connected
with the National Bank OF Barre.
The last financial statement of the bank
ON July /. 1920. showed resources of 81, 223
5ss.s2. with savings deposits Of sl,5369l0.iS
and commercial deposits of S235 az4;;i
Receiver Carpenter made a public 1sser-
ton recently that he had reason 10 be-
lieve that the assets of the banh would
be realized on to large extent ard he
advised depositors in the bank not to
dispose Of their deposit books at marked
discounts
Mr.. Rowland was born in Boston,
August %. 1863. being the son of George
and Angeline Rowland. He was gradu-
ated from Montpelier Seminary in 1884
and his marriage TO Mary Wells occurred
in Barre, March %. 1883. In 1906 he organ
lied the Granite Mutual Insurance COM
pany and was its president. He was "A
member of the Vermont House OF Repre-
sentatives in 1852 and 1917; Washington
county senator in 1906 and 1919; was trus-
tee of the French Barre library and Barre
city hospital; member of the Vermont
Historical society; a vestryman and &C.
tive worker in the Episcopal Church and
chairman of the committee in charge Of
the Washington County Tuberculosis
sanatorium now under construction.