Rensselaer Semi-Weekly Republican, Volume 41, Number 30, Rensselaer, Jasper County, 25 December 1908 — Anniversary of the Parker Bank Failure. [ARTICLE]

Anniversary of the Parker Bank Failure.

It was one year ago last Saturday, that the Remington Bank which was run by Robert Parker, closed its doors. The revelations following the failure indicate that the confidence that the public had reposed in Robert Parker was never justified, and there are many who believe and apparently with good reason that he systematically set about to defraud the confiding people who trusted him so implicitly. Although a year Jhas transpired since the bank was closed and eight months since Robert Parker went to Michigan City to serve a sentence of from 2 to 14 years, a confesse<| embezzler, not a cent in dividends has been paid to the depositors, and the diligent work of Trustee William Cheadle, has discovered that there will be but little, from 10 to 15 cents on the dollar at the outside, that these depositors will ever receive. It had been hoped to declare a dividend of 10 per cent by the Ist of January, but the doubtful title to the Parker residence property is said to have made this impossible. Mr. Parker and his wife deeded this property to the trustee after the failure, and It was thought that the transfer would hold good, but now it is said that the law granting a dower one-third right to the wife is sufficient to set aside the transfer even after Mrs. Parker had signed the deed. On this account the dividend will not be declared until later. A year ago Mr. Parker was the most highly respected and completely trusted man in Remington and now he is a felon and those who tried the hardest to believe that he was not intentionally dishonest have suffered a great reversal of sentiment and all of his old friends and townsmen are now much of the opinion that he was really at heart an intentional thief. Had the present law that provides for the Inspection of private banks been in vogue for the past ten years the Bank of Remington could never have led its depositors to the straits in which they were left. Little did those who had confidence in him when the crash came a year ago think what shocking revelations were in store for them when the examination of the bank’s affairs were gone into.