The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1922-07-13


William G. Schlecht, cashier of the
Silverlake State bank, was taken into
custody at midnight Wednesday night
by Sheriff William Rauen and he now
occupies cell at the county Jail
awaiting an examination into the af-
fairs Of the bank which was started
this morning by examiners represent
ing the state banking department
Schlecht was arrested at his home and
made no objection to accompanying the
sheriff to Kenosha. The arrest was
made on the orders of District Attor-
ney Frank s. Symmonds, who had re-
ceived reports from people interested
in the operation of the bank.
Deputy State Banking Commissioner
N. E. Hanchus, reached Silver Lake
this morning and at once began an
examination into the financial condi-
tion of the bank. 1t was expected that
this examination would be concluded
some time late today and that after it
was completed some authoritative state
ment would be given out in regard to
the condition of the bank and the cause
for the arrest of its cashier.
Business Goes on as Usual.
The bank was opened for business
this morning just as If nothing had
happened and there was no sign of ex-
element following the arrest of the
cashier In fact, few people in the
village knew that Schlecht had been
taken into custody Charles w. Dean,
who mas Been III the bank, was on hand
as usual and when the representative
OF the commissioner Of banking dropped
in and began the examination few peo-
pie SUSPECTED that it was other than
the regular periodic examination of the
bank. Mr Hahchus when reached over
the telephone, said that he could not
mslSefang statement at this time and
that a statement when given out must
properly come with the approval of the
state. commissioner of banking. He
did net say anything as to what had
been discovered in connection with the
examination Of the bank other than to
say that the examination was underway.
"Everxthine lis perfectly quiet here
and business is going on'as usual" said
Mr.. Hanchus in ending the interview.
Leaders Back Bank.
The bank, which is one of the smaller
banks of Kehosha county, has the back
ing of some of the most substantial
and wealthy men Of the western part
of Kenosha county. Among the direc-
tors of the bank are R. M. Dixon, F. H.
Schenning and George Bruel, all of
them widely known to the people of
the western part of the county and
their connection with the bank has
done much to bring confidence that
every claim Of the depositors will be
met in full.
The@las statement Of the bank is
sued on May 18th Of this year, showed
Resources Of S2sO,OSO.51. The bank has
capital stock of $4,000 and a surplus
of $4,000 with undivided profits in ex-
cess of $4,000, 1t carried individual
deposits subject to check Of ST., 282.37;
time deposits Of s75,4SS.72, and saw
ing deposits Of 51,433.S6. The de-
positors in the bank are largely from
the big agricultural district in the
neighborhood of Silverlake.
The resources of the bank we're
largely invested in loans, the total of
this item being $24S, 1854. The last
statementsshowed the bankshad cash to
the amount of over 5000 on hand.
s Says Shortage Admitted.
Il would rather not make any state
ment in regard to this matter until
after the bank examiner has completed
his examination Of the bank said the
district attorney this morning. at
have talked with Cashier Schlecht and
he has admitted to me the possibility
Of a shortage at the bank. / would
not want to discuss the amount of the
shortage at this time or the nature of
it. Just as soon as the situation has
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