Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-09-14

Yesterday morning the business men of
! Minneapolis were startled W ith the an
| nouncement that W. w. Keen, assistant
cashier of the Northwestern National bank,
was defaulter to the extent of $le5, 600.
Mr.. S. E. heller, tbs head cashier, being in
Europe for his health, the business Of the
bank had been conducted by Mr.. Keen, and
as the bank officials placed great con-
fidence in his honesty and integrity
all the cash passed through his hands. All
went we'll until Friday morning. when q
United States bank examiner, named Joseph
Jockey, suddenly walked into the bank and
asked to be allowed tho privilege of examin-
ing into the financial condition of
the institution. Mr.. Keen gave him
work progressed finely. The books were all
right and everything appeared perfectly
straight. The money was then counted
carefully, and finally Mr.. Jockey turned to
Mr.. Keen with the remark, "Your cash is
short" Then Mr.. X. knew he was doomed
man. Seeing that there was no escape he
confessed that
HE WAS DEFAULTER.
| Hon. II. T. Wells, president OF the bank,
was notified, and Mr.. Keen called upon Mr..
Wells to make more complete his confession
OF the great crime he had committed.
| 1t was soon ascertained that the shortage
amounted to the snug little sum of $685.
| 600, beside some $4,000 that can be recoy-
cred.
| The directors Immediately took charge of
! affairs, and placed Mr.. z. H. Moulton, of
the Farmers and Mechanics Savings bank,
| in charge.
Mr.. Keen confessed that his shortage
arises from losses sustained while dealing in
wheat options through the commission house
of w. S. Judd & Co.
| This firm claim that they supposed Mr..
Keen was dealing with the money of some
| capitalist in the city, and had no idea that
| the funds came from the bank, although they
| seem to have been aware that he was an I'M
usually extensive loser.
KEEN WAS ARRESTED
yesterday after being allowed to remain at
home during the night Mr.. Keen ex-
pressed perfect willingness to face the
law and meet the full penalty. Chief Mum
ger arrested MIR. K. upon a warrant sworn
out by Mr.. Wells, president of the bank.
Being taken to the municipal court he was
given the private room at tho right OF the
stand.
Judge Cooley opened court, and Mr.. Keen
waived the reading Of the complaint, and
was then bound over in the sum of 81 900 to
await trial at the next term of the district
court. which meets in November. He sat in
the office all day waiting for bondsmen that
dldn't come, and early in the evening was
conducted to the county Jail.
The penalty for the crime is at most i'm
prisonment for not more than seven years.
Mr.. Keen will not be interviewed, but says
he has made full confession of facts to Mr..
Wells and others.
AT THE BANK
yesterday there was little stir and no con-
fusion. Knots of men gathered aroun,
the institution during the early part
of the day to discuss the situation, but later
in the day nothing out of the usual order
was obserevd. No bank in the city is better
prepared to meet such defalcation and the
stockholders will be assessed to make up the
discrepancy in the accounts. About
twenty-five per cent. will be the assessment,
and as the stockholders are 80 widely spread
the loss will be but slightly felt in any To-
cality.