Salt Lake Tribune | 1908-01-15 | Page 1 | Cashier Speculated and So Went Wrong

CASHIER SPECULATED AND SO WENT WRONG NORTH ATTJLEBORO. Mass., Jan. 14. The fact that Frederick IS. Sargcant. the late cashier of tho Jewelers' National bank of North Att.leboro. which Is now In the hands of a receiver, had been hypothecating the funds of the bank, became be-came definitely known today when the surety company which furnished his bonds pnld over lo the rocetver of the bank the sum of $20,000. the full amount of the bond. Tho payment of the bond will aid greatly Jn paying the depositors of the bunk, and It Is now hoped that all dopoHllors will be paid In full The payment of $75,000 by the Roger, Williams Insurance company a week or two ago and the payment of the cashiers' bond have swelled the visible assets by J05.000. , , , , The examination of the cashiers personal per-sonal affairs has shown that ho had accounts ac-counts with several Boston brokerage houses, and it Is believed that he lost heavily in speculations.