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BOOK-KEEPER TOOK FUNDS THE MASSACHUSETTS NATIONAL BANK WENT INTO HANDS OF A RECEIVER - SHORTAGE IS PLACED AT $144,000. Boston, Mass., Feb. 23.-The National City bank of Cambridge closed its doors today by order of the comptroller of currency at Washington. The bank examiner is now in charge.
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Cambridge Bank Closed. Cambridge, Mass., Feb. 23.-The National City Bank has been closed because of a shortage of $144,000 of deposits. dute to the defalcations of the bookkeeper. John L. Bates, former governor, has been appointed receiver,
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BANK EXAMINER SUSPENDED. Washington Feb. 26.-The comptroller of the currency has suspended E. S. Pepper, national bank examiner, who looked into the affairs of the closed National City Bank, of Cambridge, Mass., last December. The deposits had then shrunk to $152,000 compared with $267.000 in June preceding. Another examiner was sent to investigate,
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Orders Probe of Bank's Affairs. The Comptroller of the Currency yesterday assigned National Bank Examiner Samuel M. Hann, of Baltimore, to go to Cambridge, Mass., and make a careful examination of the books of the National City Bank, now in the hands of a receiver because of the defalcation of its bookkeeper.
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BANK IS LOOTED. High Flying Bookkeeper Said to Have Taken $144,000. Boston.-Following the discovery that the National City Bank of Cambridge, has been looted of $144,000. the doors of the institution were closed, probably forever, by National Bank Examiner Pepper, acting on behalf of t comptroller of the currency. Later a warrant was issued for George W. Coleman, the young bookkeeper of the bank, who was last heard from in Kansas City a few days ago. Coleman is charged with embezzlement. The institution is insolvent, the capital stock of $100,000 and the surplus having been wiped out by the defalcation. Former Governor John L. Bates, the receiver, will liquidate the remaining assets.
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BOOKKEEPER GOES WRONG. Loots Bank of $144,000, Causing Suspension of Business. Boston.-Following the discovery that the Nat'l City Bank of Cambridge had been looted of $144,000. the institution was closed on Wednesday, probably forever, by National Bank Examiner Pepper, acting on behalf of the comptroller of the currency. Later a warrant was issued for the arrest of George W. Coleman, a young bookkeeper of the bank, who was last heard of in Kansas City a few days ago. Coleman is charged with embezzlement. The institution is insolvent, the capital stock of $100,000 and the surplus having been wiped out by the defalcation. Former Governor John L. Bates, the receiver, will liquidate the remaining assets.
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BOOKKEEPER GOES WRONG. Loots Bank of $144,000, Causing Suspension of Business. Boston.-Following the discovery that the Nat'l City Bank of Cambridge had been looted of $144,000, the institution was closed on Wednesday, probably forever, by National Bank Examiner Pepper, acting on behalf of the comptroller of the currency. Later a warrant was issued for the arrest of George W. Coleman, a young bookkeeper of the bank, who was last heard of in Kansas City a few days ago. Coleman is charged with embezzlement. The institution is insolvent, the capital stock of $100,000 and the surplus having been wiped out by the defalcation. Former Governor John L. Bates, the receiver, will liquidate the remaining assets.
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Bank Looted of $144,000. The comptroller of the currency closed the National City bank, of Cambridge, Mass., when a shortage of $141,000 was discovered, and Ellis S. Pepper, a national bank examiner, was appointed temporary receiver. George W. Coleman, bookkeeper of the bank, has been absent from Cambridge for several days. The last heard from Coleman was to the effect that he was in Kansas City.
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DEPOSITORS GET SOMETHING. But Shareholders of Cambridge Bank Must Put Up. BOSTON, April 16.-The depositors of the defunet National City Bank of Cambridge cannot receive more than 75 cents on the dollar. The stockholders not only have lost everything, but already have been taxed 100 per cent in addition on the face value of their shares: This information was obtained today from those who have charge of the affairs of the wrecked institution, following the report by Receiver Jóhn L. Bates, who says the total shortage will reach $309,000. The bank closed February 23, following the flight of its bookkeeper, George W. Coleman, who, with Wilson W. Lockhart, is under indictment, charged with being responsible for the shortage.
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CONDENSED DISPATCHES. The 800 or more depositors of the defunct National City Bank of Cambridge cannot hope to receive any more than 75 cents on the dollar, and the stockholders not only lost everything, but already have been taxed 100 per cent. in addition to the face value of their shares. This information was obtained Saturday from those who have charge of the Investigation of the tangled affairs of the wrecked institution, following the report of Receiver John L. Bates, who says that the total shortage will reach $309,000. The bank closed Feb. 23, following the flight of its bookkeeper. George W. Coleman, who. with a friend, Wilson W. Leckhart, is under indictment charged with being responsible for the shortage. ROOSEVELT ENTHUSES ALL HUNGARIAN HEARTS. (Continued from Page One.)
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BANK'S DEPOSITORS SUFFER. Ruined Cambridge Institution Can Only Pay Them 75 Cents on the Dollar. Boston, April 17.-The depositors of the defunct National City bank of Cambridge, numbering some 800, cannot hope to receive any more than 75 cents on the dollar. The stockholders not only lost everything, but have already been taxed 100 per cent. in addition on the face value of their shares. This information came yesterday from those who have charge of the investigation of the tangled affairs of the wrecked institution, following the report of Receiver John L. Bates, who says that the total shortage will reach $309,000. The blank closed February 23, after the flight of its bookkeeper, George W. Coleman, who. with Wilson W. Lackhart, is under indictment, charged with being responsible for the shortage.
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BANK'S DEPOSITORS SUFFER Ruined Cambridge Institution Can Only Pay Them 75 Cents on the Dollar. Boston. April 17.- The depositors of the defunct National City Bank of Cambridge, numbering some 800. cannot hope to receive any more than 75 cents on the dollar. The stockholders not only lost everything, but have already been taxed 100 per cent. in addition on the face value of their shares. This information came from those who have charge of the investigation of the tangled affairs of the wrecked institution. following the report by Receiver John L. Bates, who says that the total shortage will reach $309,000. The bank closed February 23. after the flight of its bookkeeper. George W. Coleman, who, with Wilson W. Lockhart. is under indictment, charged with being responsible for the shortage.
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Bank Looted For $309,000. A report by the receiver of the National City Bank of Cambridge, Mass. showed that the total shortage will reach $309,000. It was looted from the inside by trusted officials.
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Stockholders Receive Dividend. A first divident of 60 per cent, aggregating $233,000, to the creditors of the National City Bank of Cambridge, Mass., has been authorized by the Treasury Department. The dividend will be distributed to depositors this week. The claims against that institution aggregate $389,000. The bank is capitalized at $100,000 and went into receivership February 23 last.
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BANK CREDITORS GET INITIAL DIVIDEND Creditors of the National City Bank, of Cambridge, Mass., which went into the hands of receivers last February, will receive a dividend of 60 per cent this week. The Comptroller of the Currency has authorized the payment of $230,000. The indebtedness of the bank amounts to $389,000.
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CAMBRIDGE BANK LITIGATION. BOSTON. Nov. 4.-Former Governor John L. Bates, receiver of the National City Bank, of Cambridge, filed a bill in the United States Circuit Court in equity to recover $307,000, which was the amount of default discovered when the bank was looted by George W. Coleman. a $12-a-week clerk.
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ASK DIRECTORS TO PAY. Boston, Nov. 3.-There Is a deficit of $120,000 in the funds of the National Bank of Cambridge, caused by the defalcation or its bookkeeper, George W. Coleman, which Receiver John L. Bates has asked to collect from the five directors on the ground that they were negligent in the discharge of their duties. A bill was filed in the circuit court today. The bank closed Feb. 23, 1909, and Coleman was sent to jail.
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"BIG BILL" KELIHER GIVEN UP BY SURETY BOSTON. MASS., Feb. 25.-On application of former Governor Bates. receiver for the National City Bank of Cambridge, "Big Bill" Keliher. convicted of complicity in the looting of the bank for which George W. Coleman is serving time, to-day was surrendered by his bondsmen.
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The National City bank of Cam bridge, Mass., is in the hands of a receiver and the bank bookkeeper is serving a prison sentence for the larceny of $350.000 of the bank's money. Evidence shows that the bookkeeper was swindled out of the money by gambling sharps of Boston.
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EXCEPTIONS TO RULING BANKS NOT RESPONSIBLE Boston, Jan. 21.-More than 100 exceptions to the finding by a master that the directors of the National City Bank of Cambridge were not responsible for the embezzlement of $300,000 by George W. Coleman, the bookkeeper. were filed by Receiver John L. Bates in the federal court today.