Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-05-22
Hint Second Arrest
in Bank LOOting


the names of many bank clerks and EN-
ployes in the future.
According TO Tregay. Newlin made
many OF his investments through Jones
4 Baker. stock brokers, with Offices
In the Widener Building. Philadelphia.
A representative of the firm. how
ever, explained in Philadelphia today
that Jones & Baker had had no deal
tngs with Newln for four years.
I'VE learned he said that Newlin
was employed by bank. We don't
care for accounts of this kind. so we
requested Newlin 10 withdraw his ac-
count with us. which he did
There have been many conflicting re-
ports as, to how the embezzlement of
Newlin was brought to light. This is
how it happened according to Mr.. Ire
say:
''Newlin came 10 mo Thursday
night and said. I'm in bad. Then he
told me all about it. and said there
was nothing to do but make clean
breast of it. / was dumbfounded. as
always regarded him as absolutely
straight.
"Newlin went home. called the
cashier Of the bank at midnight and told
him all about il. He was also amazed,
for be didn't have the slightest inkling
Of it,
Newlin took nothing but cash. ac-
cording 10 Tregay, and kept his hands
on bonds or negotiable paper. but every
dollar taken was covered up in mastery
fashion. In fact, some Of the investi-
gators are speaking of him as the
"master cmbezzler.'
The directors say the loss cannot be
more than $4,000. In the way Of
assets they will get personal belongings,
including Newlin's home and jcwelry.
valued at $4,000 and $50 900 from a
surety bond.
Bank Biggest In County
The statement issued by the directors
follows:
"The last report called for BY the
Controller of the Currency showed the
National Bank Of Coatcsville TO he the
richest bank in Chester County by more
than a quarter of n million dollars. The
total loss sustained cannot exceed
$4,000 and there is probability of re.
covering substantial amount.
Efforts 10 bring about this recovery
will be pushed relentlessly. Should the
bank not recover dollar it will still
have surplus and undivided profits in
excess of half million dollars. and
continue to lead all the banks in the
county by more than 800, ,OOO."
Il don't know just how much money
really did take Ncwlin told mem.
bers of the Board of Directors of the
bank when he was called before them
and questioned for two hours.
When informed that shortage in
excess OF 800 900 had been discovered
much?' he asked. and added. We'll.
perhaps 1t Is, ! kept no track Of it
myself"
The twenty eight year -old receiving
teller and church choir singer was then
asked by Examiner Chapman to ex-
plain just how he managed to cover up
the misappropriation of funds extending
over a period Of almost four years.
I'D rather not say anything about
that at this time he replied.
Tregay requested that no further ques.
tions be asked the young man. whose
nervous state, he explained. was bor-
dering on collapse.
II only have two 81 bills 10 nv
name and | guess ] might AZ well give
them TO my wife, for don't suppose
I'll need any money for some time to
come said Newlin as he bid farewell
to his wife. twenty six years old. She
Is a daughter of Mr.. and Mrs Elmer
4 George. Of this city. Nrwlins parents,
Mr.. and Mrs. George Newln. also re.
side here and are among the citys most
hlEniy respected residents
hctnrr or not NeWllh was entirely
one " nus whoiesaie emoezzIcment
s.p,nti.nins t.nri.ins NAV is puz1.lhs 10" az az
.sSr,ties, .Wor, ','.. a" 'nherrosatlen to tnis
teller. His answer was vague.
Links Stansbury in Downfall
Ncwlin lays his downfall 10 the stock
market, and his start, he says, was en- :