The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-09-17
A CALCULATING sCoUNDRGL.
He Bargains for Freedom With $780,
900 of stolen Securities.
From the Neto YORK TIM

900 of stolen Securities.
From the Ne,0 York Times.
TACOMA, WASH, Sept. 4-The case of
R. B. Albertson. the Seattle attorney, DC
cused of concealing stolen property in con
nection with the Fidelity Bank robbery,
was called in court this afternoon. He is g
cousin of Edward Albertson, the defaulter,
who has not yet been caught. Before the
hearing commenced the original complaint
against r. 3. Albertson was dismissed and
one of grand larceny substituted. The hear
ing lasted all the afternoon and will be con-
tinued Tomorrow.
Tho first witness called was Thomas B.
Wallace, president of the Fidelity Trust
Company, who testified substantially as
follows: "On Aug. %, Saturday night, e.
Albertson absconded with money belonging
to the bank at O'Clock Monday morning
a messenger delivered letter to my house
On opening it found it to be from E. A.
Albertson, inclosing an agreement in tripli>
cate and directions for me to meet a man
named Chandler on Browns Point. / got
in buggy and drove to Old Town. There
got in skiff, and went at Browns Point
and had boatnan row me over. Mr.. Wal
lace produced the letter of instructions and
contract. The letter Of instructions was
written in ink upon letter head OF the
Fidelity Trust Company and was as fol-
lows:
I. B. Wallace:
DEAR SIR am short in my accounts StI, $50,
being the aggregate Of the sums squandered by
me at different times since one year ago this
month in speculation. have not dollar left
Realizing the inpoSsibiitY of ever replacing it,
being in constant dread of detection, have be-
come desperate, taken enough more to make
$50 600 and lett. The amount of securities taken
from the safe in addition to this cash is over
5000, 900. which includes all the company's
notes, collateral and land company s contracts
In addition to this have changed all the
combinations after locking up all the bank
books in the steel vault. If you will sign three
papers In triDlcate herewith in the presence of
two witnesses, have the same duly acknowI-
edged. deliver all three to Fred n Chandler at
Browns Point on or before o'clock Monday
morning (see directions below how to meet
HIM, he will deliver to you all the securities
ETC., valued at $500, 0U0, and the key to all the
safe doors, so you can commence business at
the usual hour, except my personal notes OF
81, 900, which have destroyed; but the collat-
eral forty shares OF stock you will get il you
will meet Chandler with the papers duly ex-
ecuted. You will find the company's seal in
the drawer at the end of DenInRn's desk. ANY
time between and o'clock on Monday morn
ing you will get all above as stated. and be
ready for business the loser OF just $40, 900.
Refuse to execute and deliver the papers and
securities valued at over 100000, none OF
which, except the company's notes. has tue
company any record of, will be burned, and il
VIII cost you 3o,OOO 10 3luOO0 TO open and re-
place the vault and safe doors and four to six
months time in winch to do it, and you your
self well know, at the lowest estimate, il will
cost you not less than from 100000 to $500 900
OF above besides trouble to get balance And
besides this loss in actual money, just imagine
the cost to the company through the loss of
confidence of the public and the absolute sus-
pension OF business for at least month.
To sum up, accept the conditions and lose
$50, 900, which people need not know about; re-
ject them and lose-mske your estimate out of
the 5000 000-aad be compelled TO absolutely
suspend business. You can't pay any checks
dare not draw on New York and san Francisco
for both accounts are wrong. ! have made a
memorandum and left it in the safe. just how
the shortage lies.