The independent. [volume] (Elizabeth City, N.C.) 1908-1936, 1926-01-08
LOOSE LEDGERS MAKE IT
EASY TOLOOT A BANK
Were A Big Aid to Crook Who Wrecked the
Negro Aibemarle Bank in Elizabeth City

The modern loose leaf sys-
tenn of bookkeeping made it
easy for w. H. Holland. cashier
of the defunct Albemarle Bank
of Elizabeth City, or somebody,
to deceive State Bank EXamin-
ers for several years and steal
the deposits of hundreds of
humble Negro customers in a
leisurely manner.
With a loose leaf ledger crook
can remove sheets at will and put
them back again. His books may be
made to show one thing to-day end
another thing tomorrow or. not TO
show anything at all.
Aud so while the books in the
bank were thus manipulated. the
cashier keeping two sets Of books
in fact, State Bank Examiners came
and went periodically. They would
look mt the sheets left in the book
for them to see and give the bank
clean bill. They never saw the
sheets that were taken out and
these wonderful loose leaf ledgers
do not betray the fact Of missing
sheets. They are great help to
O crook IN O one man bank.
A checking Of the pass books Of
depositcrs with the books Of the
bank is being carried On this week
by the Frederick B. Hill Co.. Ger
titled public accountants of Colds
boro, who are probing the affairs OF
the bank for the Corporation Com
mission. The investigation so far
discloses many discrepancies be-
tween the pass books Of depositors
and the accounts on the banks
hooks. 4 shortage far In excess Of
that indicated by liabilities Of $780,
S17.27 uncovered last week, may be
revealed before the last pass book is
checked up.
Depositors Crowd Bank
Depositors Of the Negro BankI
aaaTFeFss m M AseH Y 1sS sai's ri4e:sisK1v1f week.
Ipressirg against the windows with
their little pass books, soma Of them
hoping that, the presentation OF
their pass books would mean that
they would at once receive back part
or all of their money.
But their hopes were in vain.
There is much speculation as to
whether investigat tion will Involve
others with W. II. Holland in the
loOting Of the bank. The bank was
looted; there is no doubt about that.
Holland had charge of the books.
Maybe Holland alone can say
whether any one else had a hand
in the looting. Holland is silent In
Jail.
Here then is a lis: Of the stock
holders Of The Albemarle Bank.
IA of them in all, holding 4SI
shares of the stock, the par value
Of which was $50 a share.
Name Of stocsholder 10. OF shars
Armstrong. W. r. g.. Hertford- ]
Brown. Jas T.. Est Elizabeth City ---- =
Brown, Levi C., Portsmouth. Va. ----i0
Brown. G. W., Elizabeth City ------I0
Butler. +. ". ~. Elizabeth City ------io
Butter. Mrs. !. L.. Elizabeth City .------ 1
Barnard. 7. H.. Shiloh ---------- 4
Barco. Chas. IT., Belcross -------- 2
Bowser, Jonas. Powells Point --.
Bright, Rosa Mrs., EIentou -.--
Barnard. J. j.. Old Trap ------------ .
Barliff. Il. c., Liz. City 49, l
anchard. H. ", Edouton -- T.
Bryant, l. c.. Eliz. City --------
BRYANT. Harry. Eliz. City ----------
Bryant. Mrs. Mary. Eli. City ----
Bunch. pspicl. Norfolk Va. --------
Bunch, Samuel. Norfolk, Va. -------
Butt. Nathan II. Eiz. City, -----
/ Bosue. MB. Ida. Eliz CITY. ----------
Britton. ". A. Eliz. City -----------
Cartwright, c. N., Eliz. City, ------ =
Cartwright, II. r.. Bclcross, ---------- 9f
cariwell. @. W, Eliz. City. -- 2,
Case, {. B., harrisburg ------------- j
Case. Geo A. harrisburg, ------- y
Case, J, r., Jarylsburg- - I
Case. W. H. Jar'isburS, --------------lp
Case. W. H., harrisburg. -- 4
Chatman,, Jas. A.. Moyock ------------
Cherry. ID. L.. Eliza. City. ------------
Cherry. W. T., Ek. City. -----------
Cooke. +. C., Eliz City ---,'