St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-25
SWIPED The SWAG.
Jacob W.Loewenberg Now Be-
hind Prison Bars
FOB R0BBiNG HIS EMPLOYERS.
He Was Well Paid and I'M
plieitly Trusted,
BUT STRUCK TOO SWIFT A GAIT.
The Plunder Was Rich Jewel
ry and Diamonds.
FOB R0BBING HIS EMPLOYERS.
BUT STRUCK TOO SWIFT A GAIT.
A CLEAN BREAST MADE OF 1T.

Jacob w. Loewenberg, manager of the
st. Paul branch of Frank NJ. Sproehlne
q Co.'s jewelry house of Chicago, with
salesrooms in the Endicott building,
was arrested yesterday aftern oon
charged with the embezzlement of
$4,000 worth of watches, diamonds and
SiIverWare.
The arrest was was made in very
quiet manner, and in order to avoid
publicity, LOeWenberg was taken to the
county Jail and orders issued to the
sheriff to say nothing about the arrest.
Loewenberg has been acting as man
ager of the branch in this city for the
past fifteen months, he having sue
ceeded his father, who held the position
at the time of his death. His father, S.
s. Loewenberg, aud his mother. it will
be remembered, were found dead in bed
i'll April. 1892. death having resulted
from asphyXiation.
Young Loewenberg. who at the time
was but twenty-one years old, had been
some years in the office, and being ia
miliar with the business. was given the
position of manager by the firm. Since
taking the position Loewenberg has
given good satisfaction and the diScov-
cry that he was an embezZler was the
biggest kind of a surprise to the firm.
Last week the head of the firm came to
st. Paul from Chicago, partly on bust-
ness and also to take short vacation.
The First Suspicion
that there was anything wrong arose
when customer who had purchased a
watch from the house came to inquire
as to securing another timepiece at the
same figure. The books did not show the
purchase, and when questioned about
the matter LoewenI erg said it was a
mistake. He at once drew his check
for the amount of the sale, S47 so. but
when the check was presented to the
bank it was returned marked mo
funds"
This, together with other suspicious
circumstances, resulted in an investiga-
tion which showed shortage in the
stock of goods amounting, so the firm
claims, to 50, 500, or more. Loewenberg
has been shadowed by private detec-
tives since Friday last, and yesterday it
was decided to place him under arrest.
The firm bave been doing business in
their branch in this city i'll the same
manner as though the business was in
Chicago. The stock was billed to the
house here accompanied by an invoice
and the instructions to their manager
was that none of the goods were to be
sold at less than 10 per cent advance on
ho rrhn Erp,
weinberg a salary of 1900 per mouth and
also paid the salaries of the other en-
plOyes and all other expenses connected
with the branch.
A full set of books were kept in Chi
cagO so that the customers of the house
in this vicinity really did all their busi-
ness with the house i'll that city, except
that the goods were delivered from their
branch here. LoeWenberg kept the firm
advised of sales, and twice each year,
on Feb. l and July l, made reports Of
the stock on hand.
Was Trusted Implicitly.
At the time he reported as to stock on
hand in February OF this year the state
ment showed $4,000 worth of goods.
On July the statement showed $12, 600
worth of stock on hand. So much conf
dence did the firm have in LOewenberg
that his statements as to stock were not
in the least questioned
Since the Investigation set on foot by
the firm commenced il was developed
that instead of the safe containing the
number OF watches, watch movements,
diamonds and other jewelry which Loe-
Wenberg'S statement showed, all that
was left was the tags which had been
on the articles. LOewenberg' plan was
to sell to local firms and outside parties
the goods and then put the tags in q
separate box. When he made up his
Semi-annual statements lie reported the
articles sold by him as still in stock, and
thus was able to carry on his scheme.
Owing to this plan of doing business the
firm is unable to say just now much
stock Loewenberg has made away with,
but so far as has been learned the
amount is over $4,000.
Yesterday morning Loewenberg was
notified that his embezzlement had been
discovered, and he was called into the
private office, where he was put through
an examination conducted by Herchmer
Johnston, attorney for the firm.
The Culprit's Statement.
The explanation made by Loewenberg
was taken down by stenographer and
covers fourteen pages of typewriter
legal cap. According to his own state
ments he is short about $4,000 worth of
stock. This he says has been sold to
local parties at a less price than marked
in the invoice, and while the amount of
the shortage is the figures given he did
not realize anywhere near the amount
owing to the low price at which he dis
posed of the goods.
LoeWenberg. when he saw the game
was up, offered to settle the shortage,
and with this end in view visited the
probate court and signed over his inter-
est III the estate left him by his father,
which has not yet been settled up, to
friend named Cohen. The clerk in the
probate court could give no idea of the
amount Loewenberg woul d receive
from the estate, but was of the opinion
that it would be in the neighbOrhOod Of
s., 900.
Loewenberg lives at COL Ashland
avenue with his sister and is well-known
in business circles. His position and
salary afforded him an opportunity
to make considerable display, and he
was noted for always being dressed in
the latest style of fashionable garments.
He says his downfall was caused by
living at too rapid gait. Recently he
fitted up a suite of rooms in the Moore
block at Seven corners princely StyIe,
and these were searched yesterday aft
ernoon by representatives of the firm in
hopes of securing some of the missing
goods. The search, however, failed to
bring TO light any of the articles. The
prisoner will be arraigned in the police
court this morning.