Show SKIPPED WITH THE CASH A Bank President Takes the Money ot Eleven Banks KANSAS CITY Aug 21Henry Wool mer attorney for Special Bank Examiner Latemer acting as agent for the First National bank of Marion Kan fed attachment at-tachment today against George D Galbraith special bank examiner in charge of the National Bank of Kansas City National Bank of Commerce and American National bank by E M Donaldson president of the First National bank of Marion Kan I is charged that Donaldson secured loans from the bank of which he is president for his personal use without adequate security He has since disappeared and the bank is short 23013 James Doughty of Sioux City arrived today and after a conference with Attorney At-torney Wallman and Bank Examiner Latimer swore out a warrant for Don aldsons arrest alleging embezzlement misappropriation and forgery The facts told by Mr Doughty makes Donaldsons embezzlement from the Marlon bank appear simply a drop in the bucket compared with the exbankers transactions transac-tions Besides his majority of stock In the First National bank of Marion Kan he controlled two state banks His transactions trans-actions through them were not successful success-ful and in 1886 he closed out tho two small banks and securing considerable money from the Marion bank started the Union Trust company of Sioux City la As feeders for it ho established a chain of banks in Iowa eleven in number His ventures however did not develop according to expectation and from subsequent events it becomes apparent that he was determined deter-mined to realize what cash he could and leave the country Accordingly last winter he opene a branch office here and disnosed of a large amount of securities ana assets of the Iowa concerns The Union Trust company com-pany was among the first financial Institutions tutions to go under when financial difficulties culties began last spring With it went down the eleven Iowa banks Doughty who was interested in the Union Trust company says an examination of that companys affairs and the affairs ot eleven Iowa banks shows a deficit of at least 1600000 |