Jasper County Democrat, Volume 19, Number 56, Rensselaer, Jasper County, 11 October 1916 — BANK SHORTAGE IS GROWING [ARTICLE]

BANK SHORTAGE IS GROWING

Shookman Indicted by Grand Jury and Arrested Monday. Delphi. October 9.—The grand jury jn its session today returned an indictment against Ellis E. Shookman, the cashier of the Farmers' State bank of Burrows, which closed itg doors last week owing to a shortage in the cashier’s accounts. The indictment charges Shookman with stealing three gravel road bonds valued at $3,090 belonging to William Guicken. William Guicken and William DeHority were the witnesses for the state. It is likely that other indictments will be returned as the grand jury continues in session. Upon the return of the indictment Judge James P. Wasgon issued a bench warrant for Shookman and when the young man was brought before the court in the custody of Sheriff Popejoy he was offered his release on bail to the amount of $5,000. Shookman was unable to ?ive bail at this time but is expected to furnish the required amount soon.

Many people from Burrows interested in the Shookman case were in the city Monday and all expressed great concern over the fate of the young man and the unfortunate failure of the bank. The people of Burrows find it difficult to believe that a man whom they had trusted and respected as they had Shookman would be capable of such acts. Shookman spent the day in the county jail Sunday and saw no one but his wife and his attorney, C. Robert Pollard. It was reported late this afternoon that the officers of the bank had discovered that the shortage would amount to almost $30,000 instead of $20,000 as was previously supposed. It was also rumored that this was not the first time Shookman had been in trouble in regard to bad notes he had taken but that the matter was hushed up by the directors at that time.