The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-11-06

WORRIED BY
BANK LOSSES
Alleged Bondsmen of Oscar
M. Kirlin, Late Cashier OF
Farmers Bank at Milton,
Contest Claim.
FREEMAN HOLDS JURY

he state board of accounts has noti-
ned Prosecuting Attorney Freeman
that il will not be possible at this time
for the board to send any of its ac-
countants to examine the books of
Ed }. Weidner, treasurer of Wayne
county, as requested by Freeman, ow-
ing to the fact that the board has
practically all of its accountants en-
saged in the coal inquiry. The board
informed the prosecutor that it would
approve his employment of two ex-
pertS to examine the books o{ the
county treasurer.
Il have no funds available to en-
ploy accountants to examine the treas
urers books. 1t is important that
these books be examined if the grand
jury is to make thorough investiga-
ton of causes entering into the failure
of the Farmers Bank at Milton and |
am going TO do all in my power to
have state accountants sent here 10 60
over the treasurer's books and, pend
ing such an examination, | will Eeep
the Wayne county grand jury in ses-
sion until the first of next year. if
necessary" Mr.. Freeman said Satur-
day.
Prosecutor in Milton.
noon in Milton investigating certain
facts entering into the Farmers Bank
failure. The grand jury has been in
vestigating this case for some time.
1t has not been in session this week
and will not be called into session
again until next Saturday.
November 26 is the last day fixed by
the Wayne circuit court for the filing
of claims against the Farmers Bank
and bank depositors are hopeful that
refund of depositors will be made
soon after that date. However, no an
nouncement to that effect has yet been
made. In fact, so far as known. it has
not been determined from what source
funds will be forthcoming to make up
the banks shortage, approximately
100000, due to the speculations and
mismanagement of the former cashier.
the late Oscar NJ. Kirlin.
Bondsmen Contest
In the event Kirlin was bonded. his
bondsmen and the Kirlin estate would
first be called upon to make up the
shortage. but no bond has been found
and. it is stated, the reputed bonds
men are prepared to contest the claim
which has been filed against them By
the receiver for the bank. This claim.
filed several weeks ago. remains on
the claim docket. No effort has been
made, apparently, to transfer IL to the
trial docket of the circuit court
Should there be no settlement eff
fected by November 2S of the contro-
versy as to whether Kirlin was or
was not bonded, it is probable that
the stockholders of the bank would be
directed to provide the banks short
ge for the purpose of effecting a set
tlement with the depositors, on the
ers or the alleged bondsmen were
liable the shortage was a matter en-
tirely between the parties concerned
in which the depositors were not in
tereSted.
Many Hardships
Illustrating the hardships which
have resulted in many instances to
those who had deposits in the Milton
bank because Withdrawals of deposits
have not been permitted since the
bank closed, four months ago, Milton
people are telling of the case of Worth
Cross, who followed the trade of sign
painter in the villa ge Cross had a
small deposit of S92 in the bank He
was a bachelor and had no relatives.
He had established a savings account
so he would not be without funds
in the event he became i'll. few
weeks ago he became critically ill.,
Not being able to withdraw his saw
ings. he had to be taken to the county
infirmary, where he died several days
ago. His savings will be used to meet
the cost of his burial.