Historically Speaking: More scandal, tragedy in Dover banks
Anthony McManus
As noted, James E. Lothrop commented that he was surprised that the business of the bank had been conducted so loosely. It should have been no surprise at all because for several years previous, starting perhaps in 1893, Cocheco Savings Bank had been under the strict supervision of the New Hampshire state banking commissioner as the result of questionable practices relating to handling of deposits. During that time, Harry Hough was listed as treasurer of the bank.
The story is complicated somewhat because the two banks, Savings and National, were closely aligned but subject to different regulatory bodies, the state of New Hampshire in one case, U.S. Treasury Department in the other. On the Savings side, in 1893, the bank trustees included Lothrop, Harrison Haley, Harry Hough, and Ralph Hough, who was Harry s father. Ralph remained a trustee right up to the time his son absconded with the money in 189