The New York herald., 1921-09-24
Maine COLONISTS AID
$257,O0O DEFAULYER
Camden Banker, Who Stayed
in Shipbuilding Too Long,
Lent to Himself.
GIRL CLERK ALSO HELD
Well Known Summer Resi-
dents Help Make Up Short
age; No Dcpositors Lose.

Special Despatch to TIE New YoRK HERALp.
PORTLAND. Me-, Sept. 23.-Robert L.
Bean. former cashier Of the Megunti-
cock National Bank Of Camden, was
arraigned here to-day in the United
States District Court on an indict-
ment charging that he illegally con-
verted s255000 OF the banks funds te
his own use,
Miss Ella M. Mackey, assistant
cashier. will be arraigned later. charged
with aiding and abetting' Bean. who
pleaded not guilty on the two counts
Of the indictment.
Injudicious ventures in shipouildins
operations are said to have involved
Bean in the alleged defalcation.
The Grand Jury returned secret in
dictments Thursday against Bean and
Miss Mackey. One indictment charged
the ex-cashier with Me embezzlement
of $4,000, and mentioned his woman
assistant as an accessory. The other
ran against Bean only. and alleged
the abstraction Of an unnamed sum,
Bean furnished sureties of $4,000 on
each count, and the court allowed the
respondent thirty days in which to
change his pleas IL he so desired.
The bank directors have adjudicated
the loss without penalizing the deposit
ors q dollar. but the $4,000 capital
stock has been oblitcrated. The five
directors have assessed themselves
$4,000 apiece. and wealthy men who
are summer residents of Camden and
Rockport have advanced the remainder
of 3147,000 and taken such securities as
Bean could offer. BY the cancellation OF
the stock the S257, 900 necessary to meet
all obligations was thus obtained.
Cyrus II. K. Curtis, DR.. William
Phelps and T. Carleton Henry OF
Philadelphia, Chauncey Keep, Chauncey
Boriand and II. II. Windsor of Chicago
and Robert Law, Jr., of Rockport were
the summer colonists who stepped into
the breach.
Bean resigned as cashier on January
20 last when confronted with the re-
suits of an investigation made by T. A.
Cooper, National Bank Examiner. II Is
said the directors found that the bank
was carrying $4,000 in the notes of
their cashier, or more than twenty times
the amount the bank was authorized 10
lend any one person. According to the
bank examiner II was found that ball
ance was kept In the savings department
by abstraction of deposit cards to offset
whatever cash deposits were made.
There was said to have been lesser
manipulation OF the funds OF the COM
mcrcial department. Normal deposits In
the commercial were 100000 and in the
savings bank $500. 900.
Mrs. Bean. who was prostrated when
she heard of the charges against her
husband, has turned over considerable
holdings In her name as part security.
Miss Mackey Is alleged to have ad-
mitted that she knew somewhat OF
Beams transactions. but had perfect
confidence in him. and received no pc
cuniary compensation for aiding him.
The banks good will and business
have been sold to the Security Trust
Company OF Rockland and Ia continued
as n branch of that institution. The
equity In two schooners. one afioat and
the other not quite completed at Beans
shipyards. have been turned over 10
the syndicate which came to the as
sistance Of the bank, but II is said will
come far from squaring obligations.