Article Text
CHARGE, BUYS OTHER ASSETS John Sanders Gets State Job and Purchases Notes Out of Closed Institutions While Awaiting Trial. By CLUGSTON. former president of the Chase County National bank, charged with having involved his bank in heavy losses and with having embezzled $47.000 from the Slaybaugh estate which he was executor. apparently an active financial man after he removed from his office in the Cottonwood Falls banking institution. It established here today that not only obtained position with the state banking department ceiver defunct banks after charge had been made that he had embezzled money but he also, after becoming connected the state banking department. engaged in the buying the assets of closed banks with which he became acquainted through his state job. Mr. Sanders was assistant bank receiver by Roy Bone, state bank early in 1925. day Mr. Bone said that between that time and the first this week when he resigned go trial on the crimagainst him Moran State bank and the had failed Spring Mr. Bone on the state bankpayroll at the time made those purchases. Buys Assets for $525. In Moran Sanders paid $525 the bank more than This made April 1926, Mr. Bone that public sale, Sanders highest and that the sale by the At time the Moran sale made William Docking the genreceiver the banking partment and Dickinson was deputy turned over Mr. Sanders. Also, Mr. said today his that May number notes from Spring Hill bank, paying $350 them. explained that all assets this bank were offered and only bid whole Then Sanders was mitted through the papers or notes and them for reported that at another time. the Gilbert Frith the bank that had failed Dwight, but did get what they Bone said that, far as knew Mr. Sanders did bid assets the Central State bank Kansas City, when more than worth assets sold than $2,000. Recommendation Gets Job. In the unusual incident the state banking ploying Mr. Sanders as receiver defunct banks after he had been charged with involving his own bank and had been charged embezzling Mr. Bone today yesterday that he employed Sanders Mercer, stock dation who formerly lived in Sanders' Mercer brought him down and good Mr. Bone told that, there been trouble the Sanders bank, Sanders himself responsible The show the warrant. charging Sanders embezzlement. issued about the time he became connected with the state bankdepartment. The warrant in May. 1925, Mr. Sanders first placed charge State institution that leged have through bank the that headquarters in today denied that Mr. Mr. had been charge the book assets than he bought for said he had been charge of defunct Tonganoxie, Harveyand The Tonganoxie Burlingame ceiverships have been closed since Mr. trial Monday Falls the against been take work these Mr. Bone today successor would be named short time.
