New Britain herald., 1921-03-08
President J. H. Trumbull Assures Public That RunOrS Are False
STREET PETITION ISSUED
Petition Prepared for Building Zine Brock Barnes. Post Holds Meeting ForestviIIe Ncvs-Other Items.

FOreSCN1IIe NCNS-1Th9r Items. Assuring the cepositors and the general public as well that there is no foundation for wild rumors which have been in circulation regarding newly discovered discrepancies in the books of the Plainville Trust com pany, Senator John H: Trumbull president of the institution, this morning issued a signed statement in which he declared that the books are out of balance exactly $4,9S0.6s, the amount reported to the bank mmissioners few months ago. Senator Trumbull further declared that a complete check is being made of the records in the bank commits sioners office in Hartford in an effort to determine the cause of the dis crepancy and as soon as it is located a complete report will be given to the public.
 The discrepancy was first discov- cred by the bank officials before their annual meeting and the matter was reported by them to the bank com miSsoners. The latter examined the records and subsequently, issued statement that they were out of bal ance s4,9S0.6s. With the exception of this difference they found the books in proper shape and they advis- ed that there was no cause whatever for alarm on the part of the depos- itors as the bank had a surplus far in excess of the amount which the dis crepancy covered.
 Reports of shortage in funds have been circulated but the directors state they are not even certain that even the s4,9S0 discrepancy is shortage as the possibility of a mis- take in bookkeeping exists.
 Difficulty in checking the records has been experienced because of the refusal of a discharged bookkeeper, in whose department the discrepancy exists, to, make any statement or to render any assistance in locating the error. Consequently the books have to be checked back over a considerable period and for that reason the work is very slow, As soon as it is finished, however, Presi- dent Trumbull promises a complete report in which the trouble will be cleared up.
 TrumbuIPs Statement.
 President Trumbull's signed state ment, which is also authorized by the board of directors, is as follows:
 Recently there have been rumors current that the original discrepancy reported in the balance at the bank of $4,9S0.6S is not the exact amount, but that there was a much larger dis crepancy.
 Tt is unfortunate indeed that ru- mors of this kind should find ready listeners. If the people of PlainviIle would stop and reason for a moment and take into account the past his tory of the bank-what it has accom- plshed, and what it stands for in the community, we believe rumors of this nature would not be given credence.
 The bank was first organized in 1909 as The First National Bank of Plainville, and later was changed to The PlainVille Trust company in or der to give broader scope to it's &C., lVltles and thereby 2be the better ehapled 10 serve the town. It has consistently and steadily progressed and' Tn addition to paying dividends, has accum ulated surplus and undf- vided profits Of over s33,o0o.0o.
 The present board of directors and officers are those originally con- nected with the institution, and haye served the bank faithfully since it's inception without remuneration, their only payment being in seeing the bank grow and become a benefit to the town.
 The discrepancy of $4,9So6S which was recently discovered might easily have been written off from surpIus and undivided profits and no men, tion made of the matter and no one would have been any the wiser. How ever, it has not been the policy of the bank officials to handle business matters in this way, and a determined and persistent effort has been and is being made to determine the cause of the discrepancy. In order to locate this, 1t means a complete check of | all the records made by the bank for the past year, and same is now being done in the bank commissioners office in Hartford
 'The bank commissioner has issued | a signed statement that they find all | the accounts of the bank in proper shape, with the exception of the diff ference mentioned, and the officials | vf the bank wish to state emphaticat- ly at this time that the amount speci- fled is the only discrepancy that has | occurred, and in due time. they hope | to locate it.