Article Text

$100,000 TAKEN BY DEPOSITORS State Senator Testifies On Run at Auburn National Bank Depositors of the Auburn National bank withdrew $100,000 in three weeks, when they became frightened at the financial operations of Charles Walters and his son, Ralph, State Senator Lunn; Auburn, testified in Superior Judge Batchelor's court yesterday. Walters and his son are on trial on grandlarceny charges, accused of obtaining $18,000 by asserted false representation in selling stock in the Bankers' Holding corporation. Walters attempted to sell stock in the corporation to depositors, and they, frightened, withdrew their accounts, Lunn said. Lunn was replaced as president of the organization by Walters in 1927. How Walters persuaded depositors to buy the stock was related by Mrs. Christine Hamilton, 69, widow, and P. J. McGraw, 71, railroad track worker.