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Run On the Bank. New Britain, Feb 11.-A. J. Sloper, president of the New Britain National bank, returned to-day from New York. His search for his brother-in-law was fruitless. There was a slight run on the New Britain Savings bank and it was feared it would develop during the day. The bank has deposits of $8,000,000.
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Negotiable Paper Missing From Savings Bank of New Britain With Walker, WORTH ABOUT $150,000 INVESTIGATION ON AND DEFALCATION MAY BE LARGER. Walker Also Treasurer of the Funds of the Connecticut State Baptist Association for Many Years, Having About $75,000 in Securities in His Charge-An Inquiry Ordered-Run on the Bank Continues-Over $100,000 Withdrawn Thus Far-Family Believes Missing Official Mentally Unbalaneed-Letter From Him. New Britain, Feb. 12.-Negotiable securities to a very large amount are understood to be missing from the vaults of the Savings bank of New Britain, of which institution the treas+ urer, William F. Walker, mysteriously dropped out of sight in New York on Sunday last During the day Philip Corbin, president of the bank, stated that the bank auditors had been unable to locate securities of a value of $150,000, but were unable to find any other irregularity in the accounts or cash of the bank. The situation, according to Mr. Corbin, suggested abstraction of the securities from the vaults. un It is understood that Mr. Corbin ref ceived a letter from the missing man in which the statement was made that a defalcation would be found, and upon this information an examination of the S bank's collateral was begun, which is t still in progress. Not an inkling of f Walker's whereabouts has been obtained, and the return of his son, who has been searching in New York, is believv ed to indicate the feeling of the family e that the missing treasurer is not in that h city. e Mr. Walker has been treasurer of the e funds of the Connecticut State Baptist e association for many years, having about $75,000 in securities in his charge, and while there is no reason to suspect d any irregularity in these accounts, the president of the association, Rev. H. M. k Thompson, has ordered an investigation. Mr. Walker was not under bonds. t h The preliminary examination of the r officers of the savings bank indicates S that the entire collateral assets of the o bank were intact on October 1 last, when the annual return was made to S the commissioner of savings banks. The alleged abstraction of securities has been since that date, although the t bank officers say that no accurate statement can be made until the exam1, 9 ination is completed, which will take e another day, at least. Meantime great t sums of cash have been received at the bank to be used in paying off alarmed depositors, the total withdrawals yesterday and to-day amounting to over $100,000. The bank received offers of , I money from many sources, which were declined, as ample cash was on hand to h meet all the demands. e d The run on the bank to-day was a e lively one, mostly by small depositors, the great number of them being foro a eigners. Police officers were necessary t to keep them in check, especially the Polanders, who were thoroughly scared e into the belief that they were to lose e their savings, despite the reassuring words of a parish priest of their own n nationality, The alleged wrongdoing of Mr. Walk+ er has created a tremendous sensation. He was held in the highest esteem, was
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Savings Bank of New Britain Forced to Close Through Treasurer's Peculations. HIS STEALINGS SAID TO AMOUNT TO HALF MILLION Baptist Society Funds to Amount of $70,000 Also Taken-Bank Opened This Morning and Withstood the "Run" Until 10:30 When it Became Necessary to Suspend Payment. Associated Press to The Evening Times.
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SHORTAGE $500,000 Run on Savings Bank of New Britain, Conn., Continues-Treasurer's Peculations May Reach Half Million. New Britain, Feb. 13.-It was learned today that the shortage in the Savings Bank of New Britain, thru the alleged peculations of the missing treasurer, William F. Walker, may amount to $500,000. The known shortage is already thought to be $350,000. The run on the bank, which started Monday, continued today. The Savings bank has stopped payment to depositors, and invoked a ninety-day clause, which closes the bank without notice for that period of time.
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Run on Bank Continues. NEW BRITAIN, Conn., Feb. 13.It was learned today that the shortage of the Savings bank of this city is about $350,000 and may be half a million. The run was continued today mostly by foreigners. A heavy detau of police is required to maintain order.
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Shortage May Reach $500,000. New Britain, Conn., Feb. 13. -It is learned today the shortage of the Savings bank of this city will be about $350,000, and it may reach $500,000. The run continued today, mostly by foreigners. A heavy detail of police is on hand to maintain order, and threats are also made against the directors.
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SHORTAGE IS LARGE. Treasurer Walker of New Britain Bank Got at Least $350,000. New Britain, Conn., Feb. 13.-The shortage at the Savings bank of New Britain through alleged peculations of the missing treasurer, William F. Walker, already is $350,000 according to the statement of the bank's auditors, and it is still growing. The run which began Monday continued today.
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CONNECTICUT BANK COULD NOT STAND BIG RUN New Britain, Conn., Feb. 13.-So heavy was the run on the New Britain Savings band today that the insti tution was compelled to close its doors. The run came as a result of the announcement yesterday that Treasurer Walker had absconded with the funds of the bank. It was announced today that there was a shortage in the treasurer's ac counts of nearly a half million dollars.
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Growing. New Britain, Conn., Feb. 13.-The shortage at the Savings Bank of New Britain, through the alleged peculation of the missing treasurer, William F. Walker, may amount to $500,000. The known shortage already is about $270,000 according to the statement bar's auditors, and it is still The run on the bank which Monday, continued. The maof those withdrawing their savare foreigners. The bank stopI' payment of money to depositors and issued a statement saying that to protect interests of the bank it was necessary to stop payment and invoke the 90-day clause, which closes the bank three months without notice.
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PECULATIONS ARE GROWING Defalcations of Missing Treasurer-Walker Growing in Size Daily New Britain, Conn., Feb. 13.The shortage at the Savings Bank of New Britain through the alleged speculations of missing Treasurer William F. Walker, already is $350,000 according to a statement of the bank authorities and is still growing. The run which began Monday continued today.
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WARRANT IS ISSUED. Treasurer Walker's Defalcations Exceed $600,000. New Britain, Ct., Feb. 14.-A message received from New York late this afternoon by the directors of the Savings Bank of New Britain contained, it is understood. a clue to the whereabouts in New York of William F. Walker, the missing treasurer of the bank, but the nature of the clue could not be learned. No clue as to the lecation of the securities which Walker took from the bank has been found in spite of a very active search in New York and several other cities. The bank situation apparently rests on the apprehension of Walker. for the run of depositors has ended and the instituiton practically could resume business without delay. The board of directors of the bank nist early this evening to discuss the present phase of the situation. Nearly every member feels certain that a large portion of the missing securities will be secured intact. The belief is held that a greater portion of these securities has been hypothecated, as inquiry among the financial interests in New York City brought out the fact that Walker would have been unable to dispose of the securities except at a considerable sacrifice, owing to the state of the market, but as their quality was excellent, he would have been able to borrow money on them without much difficulty. The development of the day was that Prosecuting Attorney McChael, on his own initiative, drew up a warrant for the arrest of Walker on the charge of appropriating to his own use two bonds of $1000 each belonging to the bank, and sent Chief of Police Rawlings to New York to inform the police there of the fact that the missing treasurer was wanted on a criminal charge. With approximately $40,000 missing from the Baptist convention fund the defalcation of Walker appears to exceed $600,000. The only realty that he had was his modest home, which was assessed at $3500, and against this mite an attachment for $500,000 was levied today in favor of the bank.
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WARRANT FOR WALKER. Bank Directors Have Clew to Missing Treasurer, Who Stole $565,000. NEW BRITAIN, Conn., Feb. 15.Prosecuting Attorney Mitcheil on his own initiative has drawn up a warrant for the arrest of W. F. Walker on the charge of appropriating to his own use two bonds of $1,000 each belonging to the bank and sent Chief of Police Rawlings to New York to inform the police there of the fact that the missing treasurer was wanted on a criminal charge. A clew to the whereabouts in New York of the missing treasurer of the Savings Bank of New Britain has been received by the bank directors. No clew as to the location of the securities which Walker took from the bank has been found in spite of a very active search in New York and several other cities. The bank situation apparently rests on the apprehension of Walker, for the run of depositors has ended, and the institution practically could resume business without delay. With approximately $40,000 missing from the Baptist convention funds the defalcation of Walker appears to exceed $600,000. The only realty that he had was his modest home. which was assessed for $3,500. and against this mite an attachment for $500,000 was levied in favor of the bank.
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WARRANT FOR WALKER. Bank Directors Have Clew to Missing Treasurer, Who Stole $565,000. NEW BRITAIN, Conn., Feb. 15.Prosecuting Attorney Mitchell on his own initiative has drawn up a warrant for the arrest of W. F. Walker on the charge of appropriating to his own use two bonds of $1,000 each belonging to the bank and sent Chief of Police Raw. lings to New York to inform the police there of the fact that the missing treasurer was wanted on a criminal charge. A clew to the whereabouts in New York of the missing treasurer of the Savings Bank of New Britain has been received by the bank directors. No clew as to the location of the securities which Walker took from the bank has been found in spite of a very active search in New York and several other cities. The bank situation apparently rests on the apprehension of Walker, for the run of depositors has ended. and the Institution practically could resume business without delay. A current report that a portion of the missing securities had been found resolved itself into the fact that $45,000 worth of bonds were on deposit in a New York bank and were allowed for in striking the balance to determine the actual shortage, which remains unchanged at $565,000. The board of directors of the bank met to discuss the present phase of the situation. Nearly every member feels certain that a large portion of the missing securities will be secured intact. At the meeting a second statement was drawn up, which was signed by all the directors, repeating what was said In the first statement given out, that the bank is solvent and guaranteeing that it will pay all depositors in full. The statement warns depositors not to be induced to sell their passbooks at any discount. With approximately $40,000 missing from the Baptist convention funds the defalcation of Walker appears to exceed $600,000. The only realty that he had was his modest home, which was assessed for $3,500, and against this mite an attachment for $500,000 was levied In favor of the bank.
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Connecticut Bank Suspends Payment A run on the Savings Bank of New Britain, Conn., following the announcement that the fleeing treasurer took bonds worth $565,000, caused the institution to suspend payment of depositors.
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New Britain Bank Suspends. The Savings Bank of New Britain. Conn., suspended, announcing that Treasurer Walker had stolen $565, 000 in securities.
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OUT HALF MILLION IN BONDS. Missing Bank Treasurer Charged With Taking Securities. New Britain, Ct., Feb. 14.-More than a half million dollars worth of securities was taken from the vaults of the Savings Bank of New Britain by the missing treasurer, William F. Walker, according to a statement is. sued by the board of directors of the institution. So great was the run on the bank that the bank posted a notice saying it was necessary to stop payment and invoke the clause.
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CLUE TO MISSING TREASURER. New York Authorities Get a Line on the Defaulter. New Britain. Conn., Feb. 16.-A message received from New York yesterday by the directors of the Savings Bank of New Britain contained, it 13 understood, a clue to the whereabouts in New York of William F. Walker the missing treasurer of the bank, but the nature of the clue could not be learned. The run of depositors has ended. The actual shortage is $565.000.
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New Britain Bank Suspends. The Savings Bank of New Britain, Conn., suspended, announcing that Treasurer Walker had stolen $565,000 in securities.
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OUT HALF MILLION IN BONDS. Missing Bank Treasurer Charged With Taking Securities. New Britain, Ct., Feb. 14.-More than a half million dollars worth of securities was taken from the vaults of the Savings Bank of New Britain by the missing treasurer, William F. Walker, according to a statement issued by the board of directors of the institution. So great was the run on the bank that the bank posted a notice saying it was necessary to stop payment and invoke the clause.
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New Britain Bank Suspends. The Savings Bank of New Britain Conn., suspended, announcing that Treasurer Walker had stolen $565,000 in securities.
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NINETI-DAY NOTICE REMOVED. Savings Bank of New Britain Ready to Pay on Demand. New Britain, April 24.-The directors of the Savings Bank of New Britain at a meeting to-day voted to remove the ninety-day notice rule under which payment on deposits was stopped in February when a run on the bank was started following the public knowledge of the defalcation of William F. Walker, the then treasurer of the bank. Bank Commissioners Noble and Kendall, who began an investigation of the bank's books and securities yesterday in anticipation of to-day's action by the directors, and this afternoon reported that the examination disclosed satisfac. tory results. The vote removing the rule was then taken.
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WITHDRAW 90-DAY NOTICE. Action Taken by New Britain Institution Before Time Expires. New Britain, April 25.-At a meeting of the board of directors of the Savings bank of New Britain yesterday afternoon after listening to the report of the bank commissioners, Charles H. Noble and George F. Kendall of their thorough examination of the books and assets of the bank, which showed the bank was in a sound and satisfactory condition and prepared to resume the normal conduct of its business, the following resolution was unanimously passed: Whersas, The directors of this bank February 13, 1907, on account of the excitement, and run upon the bank. occasioned by the defalcation an flight of William F. Walker, former treasurer, caused to be put in force the rule requiring 90 days' notice of intention to withdraw deposits, which rule with slight modification is still in force. And whereas, we believe the excitement and alarm has entirely subsided and there is now no danger of a continuance of the run, and abundant provision has been made to meet all demands upon the bank, Resolved, That April 29, 1907, the rule requiring 90 days' notice for withdrawal of deposits be discontinued, and on that day and thereafter all payments on account of deposits be made upon demand.