Show AS USUAL A Bank President Uses Depositors Deposi-tors Money for Speculation Specula-tion Purposes And in Consequence the Fidelity Bank I Goes Down With a Ruin ois Crash > Men of the Hib Attempt to Pull x Down tho JInwelcwH l < BrltIsh f + 3 r4ciiii > raiM T Lion andTTnlcorn r The Naughty Bank President CINCINNATI June 22It is stated that Bank ExaminerPowell on Monday afternoon after-noon demanded a statement from the Fidelity Fidel-ity National Bank and received one showing a balance on hand of 1GO000 cash When ho called for view of this money bo was amazed by being shown a lead pencil memorandum memo-randum reading Wiltshire Eckert > Co nine hundred thousand eta There was no collateral no secnritv whatever and the officers wore unable to make any explanation explana-tion VicePresident Harper concealed from the directors his connection with the wheat deal It is said he admitted yesterday that he did not go into wheat himself but he honored an overdraft for Wiltshire for 18000 and then put in tho rest to save that He charges the whole break to the Chicago Board of Trade making all wheat regular Previous to tho exposure Harper stated repeatedly that he did not know who was in the wheat deal and that ho did not believe it was managed at all in Cincinnati but it was conducted from California and Cleveland As the examination of the Fidelity National Na-tional Bank proceeds the cavernous deficit increases It is now common talk that tho liabilities will reach tho stupendous sum of 6000000 while tho assets dwindle in proportion pro-portion It seems a foregone conclusion that depositors will get next to nothing This is general talk but unofficial and cannot can-not bo verified until the bank examiner makes his report It is stated today thai the memorandum which is the substitute sub-stitute for collaterals shows that Wiltshire used 1100000 of the banks money and collaterals for other loans were hypothecated hypothe-cated in New York and elsewhere The belief be-lief of some is that Wiltshire acted as agent for Harper in conducting the wheat deal and not really as a borrower Thero is talk of arrests |