Thank you for visiting SNEWPapers!
Sign up free
Imperial Valley Press
El Centro, Imperial County, California
What is this article about?
Bank examiners closed the Hibernia State Bank and Trust Company in Denver after discovering a shortage of $200,000 to $500,000 in liberty bonds and securities. Secretary Leo Floyd, Morris Mandell, and teller John Harrison were charged with embezzlement and conspiracy; Floyd and Harrison confessed. Bank officers expect full repayment to depositors and reopening soon.
Clipping
OCR Quality
Full Text
DENVER, July 28. - Bank examiners closed the doors of the Hibernia State Bank and Trust company of Denver following discovery yesterday of a shortage of between $200,000 and $500,000 in liberty bonds and other securities.
Leo Floyd, secretary and trust officer, is charged with embezzlement, it being alleged he misappropriated bonds and other assets of the bank to finance Mandell & Co., investment brokers.
Morris Mandell is charged with conspiracy. Floyd is said to have confessed to misappropriating funds over a period of four years.
John Harrison, teller, and son of Major H. O. Harrison, was arrested this afternoon on a charge of embezzlement and is said to have confessed that he and Floyd worked together in obtaining funds.
Officers of the bank declare that all depositors will be paid in full and that the bank will soon re-open.
All stockholders are wealthy residents of Denver and will make the losses good, in the opinion of the president.
What sub-type of article is it?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Domestic News Details
Primary Location
Denver
Event Date
July 28
Key Persons
Outcome
shortage of between $200,000 and $500,000 in liberty bonds and other securities; leo floyd and john harrison confessed to embezzlement; charges of embezzlement and conspiracy; all depositors to be paid in full; bank expected to reopen soon.
Event Details
Bank examiners closed the Hibernia State Bank and Trust Company following discovery of the shortage. Leo Floyd misappropriated assets to finance Mandell & Co. over four years. Morris Mandell charged with conspiracy. John Harrison arrested for working with Floyd.