Bank operators arrested for embezzlement

Luray-Main St old

March 12, 1891 — Under warrants, charging embezzlement, sought out by a number of depositors of the late banking house of D.F. Kagey and Co. of this place, Sheriff Chapman arrested in New Market last Saturday morning and brought to Luray D.F. Kagey and J.W. Miller, the defaulting operators of said bank.

They waived an examination and were by Judge Brand, of the county court, bailed in the sum of $10,000 each; Messrs. S.P. Shirley and G.W. Rosenberger, of Shenandoah, becoming their bondsmen, for their appearance at the next term of the county court.

Pending the trial under the charges preferred and awaiting the disclosures of that trial we forbear comment no further than to say that the rights of losing depositors as well as the business interests of the town and county call loudly and imperatively for a rigid examination and a thorough investigation of the management of an institution by which those who trusted their interests to it have sustained so severe a loss. 

~ From the public archives of the Page News and Courier


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