FRAMINGHAM SAVINGS BANK. This bank was temporarily enjoined by a decree of the Supreme Judicial Court, upon petition of the Commissioners of Savings Banks, September 28. The condition of affairs which required this action was developed by an examination of the bank by one of the Commissioners, August 19. Discrepancies in the cash first aroused the suspicion of the Commissioner. Further investigation developed errors in the statement of the treasurer, presented to the Commissioner, in the form of a trial balance of the accounts of the bank. No satisfactory explanation having been offered for these irregularities, the resignation of the treasurer was required. Further prosecution of the investigation was being continued, when three days later the treasurer committed suicide in the bankingrooms, where the Commissioner and some of the officers of the bank were present. An expert accountant was at once employed, who began a thorough examination of the books and accounts of the bank. The confusion of the books and papers of the bank has made it impossible to complete an analysis of the accounts, and give an accurate and final statement of its condition in this report. The trustees of the bank, who have been questioned relative to the matter, state that their examinations of the affairs of the bank, which occurred as often as twice a year, always indicated a correct condition of the general accounts; and that the assets, including the cash, were always carefully gone over, specifically examined, and the aggregates correctly computed. But they state that the general deposit account has never been carefully examined, nor the depositors' accounts audited. The examination] now being conducted by the expert and bis assistants, with the valuable aid of the son of the late treasurer, includes the examination and posting of each depos itor's account since 1870, and the comparing of each account in the depositors' ledger with the account in the depositor's pass-book, so far as the books are brought in by the depositors and left for comparison. About five-sixths of the number of books have been left, and it is probable that the greater part of the remainder will be brought in before the examination is finished. It will require three months longer to complete this examination, - compare the pass-books, correct the errors, compute the dividends, and finally to post the books so that a complete and accurate statement of the condition of the affairs of the bank may be obtained. Some important books of accounts are missing, including cashbooks and general ledgers. Fortunately, the books of original receipts and payments of deposits appear to be intact and complete; and the expert is confident that a correct statement of the amount due depositors will be furnished at the completion of the examination. There are some discrepancies in the mortgage and personal loans, the amount of which it is not yet possible to determine, but it is believed by the officers of the bank that they will not exceed fifteen thousand dollars. A statement, as nearly accurate as could be attained by a careful scrutiny of the results of the investigation, at the present date, indicates the following financial condition of the bank: The total of deposits indicated by the receipt books to have been received from Nov. 5, 1870, to date of suspension, was $3,360,769.71. The total of payments to depositors indicated by the withdrawal books to the same date were $3,183,793.77, making the excess of deposits over withdrawals $176,975.94. The above statement is an approximate only; and, until the expert makes up his final account at the close of the investigation, it will be impossible to give an accurate statement. November, 1870, was decided upon as the date from which to begin the investigation, in order to include beyond a reasonable doubt the entire period within which the discrepancies in the deposit account occurred. In the ledger accounts from November, 1870, to August, 1878, the aggregate of errors in the deposit accounts was but $1,154.55; after that date large and frequent discrepancies occur. The premium on the public funds, bank stock and railroad bonds, above the par value at which they are entered upon the books, if sold now would exceed $75,000. The estate of the late treasurer, including the amount of his bond, is about $62,000. This sum also includes property which the administrator is entitled to receive from other sources. There are also certain securities given by one of the trustees to the treasurer, which did not appear in the assets of the bank at the time of the examination by the Commissioner, but which were found among the personal effects of the late treasurer, and were delivered to the officers of the bank by his son. The nominal value of these securities is nearly $70,000, and it is estimated by the officers of the bank that over fifty per cent. will be realized from them. The amount received from these three sources would approximate $170,000; deducting the deficit shown in the statement above, there would still be more than $100,000 to make up any deficiency that might occur in the assets of the bank. We are therefore of the opinion that unless some extraordinary discrepancies should develop in the investigation, of which there is now no indication, the bank will be in condition to be restored to all its corporate powers during this year; as, in addition to the surplus already stated, there will be the accumulation of its earnings until the date of its first dividend after resumption. The purposes for which the money abstracted from the bank was used are not yet apparent, except the transactions between the late treasurer and the trustee previously alluded to. No satisfactory explanation has been offered by this trustee; and his promise to make good the amount of securities delivered to the bank by the son of the late treasurer, by paying the full amount and taking them up, has not yet been fulfilled, though at a recent interview with one of the Commissioners, he reiterated this promise. No condemnation can be too severe for men holding judicial and fiduciary positions, making these a cloak for covering secret transactions, by which the hard-earned savings of the community by which they are honored were fraudulently obtained. What his relations with the late treasurer were, are probably known to no living witness; but this fact is established, that, |