New Britain herald., 1924-08-11
Official Confirmation Given Report That Cashiers Accounts Show Apparent Em- bezzlement No Inti- nation Of Sum.
Friends Deny Amount Is Great-Banking Officials Insist Institution Is Sol vent and Can Weather Any Run.

Putnam. Conn, Aug. ii.-That . shortage exists fin the funds of the First National bank whose cashier, c. Harold Giipatric, also state treasurer lies critically wounded and perman- ontly blinded at the Day kimball hos | pital as a result of self-infiicted bull let wound. was confirmed today from an official source. The exact nature or extent Of the shortage was not re- vealed In the statement which was made to the Associated Press corre- spondent by person possessed of au- thentic knowledge of the banks af- fairs, but who declined to permit use of his name or official position. Directors Are silent
 The directors of the bank went into session at 9 o'clock this forenoon and at the conclusion of a session lasting over two hours declined to make any official statement. One of the direc- tors explained that their failure to make a statement was on advice Of the federal bank examiners who had counselled them not to say anything until the examiners should reveal the exact status of affairs. This, the direc. tor stated might require several days.
 There was steady stream of de- positors, about 20 In number at the bank this morning withdrawing funds from the savings department. While the bank officials declined to admit that the withdrawals amounted to a run on the institution it was admitted that an unusual number of withdraw als had been made though the de- positors demanding their money held small accounts, 1t was stated. About dozen remained in line at the noon hour.
 Says Bank Is Solvent
 Assistant Cashier Guy D. Baker re- fused to add anything to his statement today that the bank is solvent and will be able to weather any emergency which may arise.
 Members of Mir. Gilpatric's family the veil of secrecy which has surrounded the causes for his at- suicide and the condition of his personal financial affairs since the shooting Close friends of the family. however. rdiculed reports that fnan- cial losses of MT. Gilpatric would reach fabulous sums. In this connec- ton it was revealed at the probate court that the estate of Eugene A. former owner of the Put nam Woolen Co.,, father of Mrs. Gill patric, left an estate of record of $65.- 900 which was divided among five and his widow now dead. It s known that he had made liberal to his widow and fam ly before his death. But that Mrs. estate which had been mentioned as possibly involved in ome of the financial losses of MT. iilpatric was greater than s20,o0o or wen reached that sum is not general y believed.
 Chief Federal Examiner Beane of he Boston district was scheduled to eturn to the city this afternoon and ccording to the directors will be i'm nediately called into conference upon lis arrival.
 Judge of Probate David Flagg said oday that he had no official knowl- dge of the condition of the funds of he Gardner estate or the Cutler trust und which have been in the hands Of fr. Gilpatric and that he was not uthorized to make any inquiry unless was demanded. Up to the present me, he said no actual official inquiry ad been made.
 Various Funds in Trust
 It was learned today that the Cut IT trust funds amounting to S35,00o .hich were invested in property on rumbull street Hartford in which a usiness had been conducted that was ot financially successful were secur- by first mortgage on the proper ' and therefore reasonably safe. It has been learned from an author alive source, however. that the com- any which furnished si00.000 bonds IT NIT. Gilpatric as cashier of the irst National bank has made seveff quests quite recently for a statement the condition of one of the estate ,nds of which MT. Gilpatric had 1arge and that no such statement ,d been furnished up to within W days.
 The last available report of the wings department of the First Ma onal bank indicated deposits of bout s16O,000. The savings depart ent has been established less than ar. The national bank Is capitaliz-
 at s150,o0o and has a surplus of Oo, 900 and undivided profits of s50.- o. which together with the bonds of %. GOO of the cashier, is declared by e bank officials to be more than nple to meet any requirement.
 ss5.000 Estate Included among the estate and ist funds which the state treasurer d under his care was the estate of 2 late Mary Gardner. of Putnam. 10 left an estate valued at sSs.00o.