Jasper County Democrat, Volume 12, Number 31, Rensselaer, Jasper County, 31 July 1909 — JASPER COUNTY IN LIMELIGHT [ARTICLE]

JASPER COUNTY IN LIMELIGHT

As Result of Tiptoe Bank Troubles. SIIO,OOO WAS 'EMBEZZLED And An Insurance Concern, of Which H. J. Kannal is President, Going Into Hands of Receivers—Cashier of Failed Bank Owns 800 Acres of Former Nelson Morris Land In North Jasper, and Was Also Con- ~ netted With the Kannal’s Insurance Co. According to further newspaper reports of the Tipton bank troubles, the total peculations of Noah Marker, the assistant cashier who left Saturday night, supposedly with $50,000 to $60,000 in, currency taken from the bank’s vaults, utterly gutting it, will reach SIIO,OOO at least. The books had been manipulated to cover up large sums of money taken by Marker in financing various enterprises that turned out failures. Forged notes were left with the bank’s papers to take the place of the originals which had been put ujfr with other banks for colateral for loans made to Marker personally, it is alleged. One of the enterprises in which the iashier, W. H. Marker and his brother Noah are alleged to have been interested in, is an insurance company In Ohio of which an Indianapolis paper publishes the following dispatch: Lima, 0., July 27.—The First National Bank, of Tipton, Ind., yesterday entered replevin proceedings for $40,000 in the Cuyahoga county • bonds, placed in escrow here by the Farmers and Citizens’ Live Stock Insurance Company at the command of otate Insurance Inspector Lemert. The action forced a recievership for the insurance company today. M. L- Becker is named as receiver. The company was floated and owned by capitalists at Tipton, Ind. The two Markers, cashier and assistant cashier of the Tipton bank, are said to be heavily interested. Attorneys for the insurance company say the Tipton bank has no interest whatsoever in the Cuyahoga bonds, and they declare the company is solvent in every way. Harvey J. Kannal, president of the insurance company; J. E. Baxter, vice-president, and William White, secretary-treasurer, are all Indiana men. Although the insurance company was incorporated in Ohio, most of its business was transacted in Indiana.

The Harvey J. Kannal mentioned in this dispatch is now believed to be Dr. Harvey J. Kannal of Rensselaer, the veterinary surgeon, whom some of his close acquaintances say has been interested in some insurance concern. Mr..Kannal left here Monday afternoon on the south bound train and has not returned at this writing. If he was connected with this insurance company it is evident that he did not give it very much of his personal attention, and kept the matter to himself. It is thought by some that he is in Ohio now looking after the company’s interests.

W. H. Marker, cashier of the looted bank, owns 800 acres of land in Wheatfield tp., this county, which he purchased of the Northern Indiana Land Co., in December, 1907. It is all of section 10 and 160 acres in section 9, and is a part of the old Nelson Morris land.

Tipton county has on deposit in the bank about >72,000. This is secured by a bond for $93,750, signed by Nannie R. Shirk, W. H. Marker, George Shortle, Jr.„N. R. Marker and A. J. Hobbs. This bond was given December 29, 1908, and in it W. H. Marker certified that he has personal property in Tipton county amounting to $50,000 and real estate ip - Tipton and Jasper counties to the amount of $25,000.