New Britain herald., 1926-03-10
RECEIVER COFFIN
 FILES STATEMENT
Reports in Detail Of Putnam
 Bank Investigation

Hartford Conn March 10 Pt-- Receiver George NJ, Coffin today filed with Referee in Bankruptcy Saul Bcrmon his final report of the examination of the books and pa pera Of the First National bank Of Putnam. aided by the former cash fer, G. Harold GiIpatric, and show ing that the receiver had learned what disposition had been made by Gilpatric of all funds entered as losses against the bank.
 Receivers Statement
 Tn addition 10 tho filing of the re- port the receiver issued statement summarizing what had been accom- plished at the bank during the per iod Of Gilpatric's stay in Connecu- cut, The statement is as follows:
 "Now that Mir. Gilpatric has been taken back 10 Atlanta ! think the creditors of the First National bank of Putnam arc entitled 10 know how and why he was brought north and what has been accomplished through his visit here. By agreement between the trustee of his bankrupt estate and the state, he was brought north for double purpose, one 10 find out from him what disposition had been made by him of bank funds misap- plicd, and the other was what dis position had been made Of Liberty bonds bought for the state but not delivered to It.
 At the first meeting of the credi- tors he was questioned by MT. How ard, attorney for Trustee Howard. As my trust is a creditor 10 the amount of $G4L000, representing 75 per cent Of all claims against his estate, I requested Referee Berman to lot him como 10 Putnam, where the books and records could be used 10 refresh his memory. The referee permitted this provided news report "ra were present at my questioning of MT Gilpatric In Putnam. For ! two days ] questioned him before , them to bring out the information 1 desired. After that books and rec ords were read 10 him. On Saturday. ! February %, about l o'clock I left for New York. returning at 12 o'clock the night of Monday, Febrn- ary 2c. MT. Gilpatric volunteered 10
 york on Saturday and Washington's ! Birthday so I arranged 10 have my chief clerk and hookkoeper. Miss sharpe, continue the work with him, reporting results 10 me on my return, S3S3 900 Accounted For
 "Wtth the approval Of the rcfcrc" I was permitted 10 continue this Ieoarch with Mir. Gilpatric until Sat turday afternoon. March {, "ith the rc suit fhot I have been able 10 dis .rovcr what disposition was made by him Of inc entire amount of $"@3.ooh ; claims admitted and pending against
 my trust for funds and miSappliod,
 "'rho details Of this have been fur nishcd to the referee.
 "While l entertained no "%pocta- ton Of my salvage resulting from Inc inouiry, as q matter Of fact a recovery Of some $2,500 seems rcn- sonahly certain, and all this has been IaccomrIishnd at 2 probable cost id my trust of about $l5o.
 "The inquiry also resulted Tn dis covering what disposition Wnf made of some S37,00o Of state bonds mis- applied.
 'It is hardly necessary to add, o' coursc .Ghat Mir. Hugh"e, Nr, Gi'' ratric's guard. was constantly pres mt turing inc examination Of Mr iC}ilra'lic.
 "Thore vas nothing illcgal in mN examination Of Mir. Gilpatrir, "htcF was undertaken with the permission of thc referee, simply as . fac'-flna' ling expedition, and with the "illinf Iassigfancc Of Mr. GiIpatric tho facts
 were found.
 "As 10 his vcracity thor" e. n h' no question. for his statements |"r' vorGncl ly vouchers, cant"Il'' trnncks, deposit tickets, etc., "'dch as .,art of un rv"cllcNt system of hook .,,rpnirc arc on hand covering :;
 rrriod of over fen years"