Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-02-23
Checkered Career
Continued from Page one)

| y. y. last Friday after he is ALLEGED
| to have peddled nearly 100000 worth
of stolen securities, Frank L. Taylor.
| cX-railroad fireman. who rose to the
position of $50 week president of the
First National Bank of Warren, Mass.
when Mareino obtained control Of the
institution. is awaiting arrangement
tomorrow on q charge Of embezzlins
nationol bank funds.
Taylor told detectives who arvsted
him that he at one time had been
secret agent of the department of Jus.
tice. Detectives here figure the known
losses from Marcino's operations at
1891 goo, and say that they expect much
more to appear before the Investigator
is complete.
Through manipulation Of the funds
of the Niagara Life Insurance Co. Of
Buffalo. n. T.. they say, investors have
lost s24S.OOO.
The closing of the Warren, Mass.
bank last week revealed a shortage Of
S21S.000. Taylor claims Marcino clean
ed out the banks vault end later ped.
died the securities in and around Buf.
fslo.
The failure of the Mechanics & Mer.
chants Bank in Philadelphia on Febfu-
AIRY l. added another $4,000 to the
total
A New congressman is said by
the detectives to have lost sum est.
mated at from S15O.0o0 to 100000
through his faith in Marcino.s schemes
The detectives ere also investigating
the connection between bank at
WaE9nwp MIC hn pt,Ho In In.
Surance concern. Securities formerly
owned by the Wisconsin bank. in which
Marcino is said to have obtained
controlling interest about six months
ago. have turned up in banks in and
around Buffalo. where they are said to
have been pledged by thu. insurance
company as security.
MarcinO's career as financicr &c.
cording to the detectives who have been
following him for several years. start
ed about 1917 or 1918. when he faith
cred a scheme for starting a new bank
at Ottawa. ILL.,, and buying out the eS'
listing bank. As a result of that scheme
he was indicted by a grand jury there
for operating a confidence game. put
disappeared before he could lie broVeh1
TO trial.
A When he purchased the WAffeA
Mass. bank he installedfTaylor as Sfse-
ident. That Marcino was an econ0ni'
cal bank owner was indicated when &C.
tectiveS today questioned Taylor about
the intimate details of the banks op-
tratlon. Marcinc. he said. could not o.
1ord to hire a president and casnier
both at salaries Of $40 week. 50 as
pensed with the cashier and made Ia!-
Tor president at $50 week. Ills was
assisted by an assistant cashier.
MarcinO's operations. however. were
not always successful, according to'tne
detective agency. He attempted to or
tain control of country bank nea.
Muncie. Ind. and before he got out q
the deal had lost $4,000 to $4,000. Inc
Indiana bankers areA said to have -
impressed Marcino with their sagaciV
that the latter employed one OF tnem
as an official of the Philadelphia Dana
The detectives say that year or g
ago when Marcino had been traced 70
Chicago they summoned the sher,h
and prosecutor, from Ottawa, Ill.
bring up the cid indictments ana war
rant issued there. a meeting was =
ranged and Marcino confronted by tn'
down-state officials. but according
the detective agency officials. Marcin.
denied his identity so strenuousiy ina
he talked himself out of custody ana
the sherif returned home empty manu-
cd.