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HOPEWELL BANK CASHIER TO FACE TRIAL IN OCTOBER
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several members of the various manufacturing concerns of the city, were on the inside hastily going over the bank's financial affairs and making every effort to have the doors of the bank reopened within the next few days.
Following several days of rumors relative to the arrest or possible arrest of the cashier of the bank, Commonwealth's Attorney William Amorosa of Hopewell, this morning at 1:30 o'clock swore out a warrant against Shelby on information received, charging him with the larceny of $30,000 of the bank's funds.
Landed in Henrico Jail.
Within fifteen minutes Chief of Police Hurston, with Officers Redman, Heywood and Milligan, went to the cashier's home, 17 Dynamite Avenue, in the fashionable section of City Point, called him from his bed and informed him that he was under arrest.
In another thirty minutes the cashier was in an automobile en route to Richmond. With him as guards, went Major Benjamin Davis, commander of the One Hundred and Eighty-Third Infantry, National Guard, and Sergeant Heywood and Judge H. F. Minter, the latter judge of the Juvenile and Domestic Relations Court of Hopewell.
After Shelby had been taken from the city to Richmond, where he was lodged in the Henrico County Jail, the news spread rapidly that the National Bank of Hopewell, an institution known as "100 per cent tried and proven," would not open its doors this morning. A notice, just under the signature of J. A. Amrheim, national bank examiner, stated that it was "hoped that the bank would be opened in ten days."
Previous Arrest Reported.
It was learned last night that Shelby had been arrested, according to reports, several days ago by the Federal authorities, on the charge of larceny of the bank's funds. The matter had been kept secret and only a few knew of it. Even Commonwealth's Attorney William Amorosa was not aware of this until this morning shortly after midnight, he said today.
Shelby's bond, it is said, was placed by the Federal authorities in Richmond at $25,000, while Commonwealth's Attorney Amorosa stated that he had been informed it was only $5,000. John O. Heflin, a member of the board of directors, is reported to have gone on Shelby's bond when he was arrested by the government authorities. Later Mr. Heflin is reported to have withdrawn the bond, which caused Mr. Amorosa to take the steps to have the young man taken to Richmond.
President Watkins stated that Shelby's shortage, when the checking started several days ago, amounted to approximately $110,000, of which all but about $50,000 had been returned by Shelby in the form of bonds and other securities. The losses, according to Mr. Watkins, will be made up by the stockholders, and the depositors will not lose.
Mr. Amorosa said he had been advised that Shelby's losses totaled $127,000 when the bank examiner went over the books several days ago.
One of the investments Shelby is reported to have taken part in was the plunging of more than $40,000 in an oil deal in which the money is alleged to have been lost.
Shelby is 28 years old. He came to Hopewell from Ahoskie, N. C., in the early days of Hopewell. He is married and has one child.
The directors of the National Bank of Hopewell are H. J. Watkins, Jr., president; E. W. Tyler, H. S. Souther, H. M. Ford, J. O. Heflin, R. L. Shelby, cashier, and Dr. D. L. Elder.
Act to Prevent Run on Bank.
PETERSBURG, VA., July 11.—United States Commissioner Z. Fleming Lyman, of this city, in a statement this afternoon relative to the arrest early this morning by Hopewell authorities of R. Lewis Shelby, cashier of the National Bank of Hopewell, explained the reason for the suppression of the story regarding Shelby's arrest by the government authorities about three weeks ago, when the young banker was arraigned before him on the charge of embezzling between $9,000 and $10,000 of the bank's funds.
Mr. Lyman said the reason the story was not made public was in order to avoid a possible run and unnecessary scare on the part of the depositors, and that his action was approved by the national bank examiner, who investigated the bank's financial condition.
