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Waterbury, New Haven County, Connecticut
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Investigation into Watertown town accounts ongoing under town committee, prompted by discovery of $14,468.07 in notes held by Watertown Savings Bank against the town. Treasurer Senator Burton H. Mattoon, also bank treasurer, and bondsmen assure all is straight; Bank Commissioner Noble confirms bank soundness despite rumors causing depositor withdrawals.
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One Of His Bondsmen Says Everything Will Be Found Straight.
Watertown, Dec. 29.—An investigation of the accounts of the town, which was begun several days ago under the direction of a town committee, has not been completed as yet, but there is an expectation that a formal report may be reached in a day or two. An accountant who has been going over the books has finished his duties, but for some reason information as to the condition of the accounts was desired from another source, and an expert from New York has now been engaged to investigate.
Senator Burton H. Mattoon is town treasurer and also treasurer of the Watertown Savings bank. Many stories as to the condition of the books have been in circulation, but one of the bondsmen of Mr. Mattoon said to-day that they were without foundation and that he believed everything would be found to be straight as far as the treasurer is concerned. One of the rumors had to do with the condition of the Watertown Savings bank, and several depositors, becoming frightened, withdrew their accounts.
Bank Commissioner Noble, however, who examined the bank three weeks ago, is authority for the statement that the bank is perfectly sound and that there is not the least cause for any anxiety.
The discovery by some citizens that the Savings bank holds notes to the amount of $14,468.07 against the town is said to have led to the investigation. A friend of the treasurer said to-day that the trouble arose through the general lack of information regarding the town's indebtedness—a lack which was entirely unnecessary. For the last three years, he added, the amount of notes mentioned above has been carried on the books of the town and had appeared in the published reports of the state bank commissioner.
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Domestic News Details
Primary Location
Watertown
Event Date
Dec. 29.
Key Persons
Outcome
investigation ongoing; assurances from bondsman and bank commissioner noble that accounts and bank are sound; depositors withdrew accounts due to rumors.
Event Details
Town committee investigates accounts of Watertown, with accountant finished and New York expert engaged. Prompted by discovery of $14,468.07 notes held by Watertown Savings Bank against town, known for three years. Rumors circulate but denied by Mattoon's bondsman; bank examined three weeks ago and found sound.