Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-03-08
AN OFT.TOLD STORY.


st. Louir Bank Cashiers Penchant for
Speculation Led Hin to Use Funds Not
His Own-William H Burr. Dr., Arrested
for Misappropriation Of st. Louis Ma
tfOnal Bank Funds-The Institution
Will Not Lose Much, Being Protected
by Bond.
ST. LOUIS, March 2.-William E. Burr,
Jr.. ex-cashier of the St Louis national
bank, against whom a warrant was is
sued Wednesday evening by United
States Commissioner Crawford, charg-
ing mlsappropriation of the funds OF
that bank, surrendered and was placed
under s12. 500 bonds for his appearance
for preliminary hearing.
Although Mr.. Burr knew of the issu-
ance of the warrant almost as soon as
it was made out, he did not attempt to
leave the city, although he did not
place himself in the way of the federal
officers until the bond had been ar
ranged for.
Soon after 6 o'clock Wednesday even
ing Mr.. Burr and his attorney, John
ID. johnson, called at Marshal
Buchanan's Office to answer the war
rant, but there was no one present to
act in the case and they departed.
They also made call at the office of
United States District Attorney Rey-
nolds, but he had gone home.
KNOWN FOR SOME TIME.
Since January II, the cash and
cashiers accounts of the st. Louis ma
tional bank have been the subject of
expert examination. The amount
named in the warrant issued against
Burr was $4,000, and the dates on
which the money was said to have been
taken were July 81 and August 10,
1898. Will Burr, genial, popular
young man of about % years of age.
was for several years and until January
IL, last, cashier of the st. Louis ma
tional. He is the son Capt. w. E. Burr,
founder and former president of the
st. Louis national He was placed in
the bank by his father. first taking
the position of assistant cashier, and
upon the retirement of Cashier John
Nickerson, who had been chosen CASH
Ter of the Merchants national, Mr..
Burr succeeded Mr.. Nickerson. He
has been carefully trained for finan-
cial career, and this fact, taken in con-
nection with his own well-recoganized
business ability. caused his acquaint-
ances to predict for him brilliant
future.
BANK DIRECTORS STATEMENT.
Almost simultaneously with the issu-
ance of the warrant the directors of
the st. Louis national bank gave out
the following statement:
We, the undersigned directors of the St.
Louis national bank, desire to state that a war
rant has been sworn out by the national bank
examiner for the arrest OF our late cashier,
William E. Burr, Jr., for misapplication and
embezzlement of the funds OF the bank. We
desire to state that the amount of the shortage
above his bond of $4,000 in the American
Surety Co. does not exceed So 900, and the loss
Of the bank will not exceed that amount.
L. c. NELSON. W. Z. ANDERSON,
I. H. MCKIrrRIcK, A. X. ROOT,
F. MITCHELL, JOHN SCULLIN,
H. n. NOEL HOWARD ELLIOTT
GAIUS PADDOCK, JAMES NJ. NELSON.
e. NJ. kEHLOR
President Nelson said that the first
information the bank officials had of q
shortage in Burr's accounts was ac-
quired last December, when the execu-
tive committee of the board of directors
made its annual examination. Their
discoveries led to thorough investiga-
ton, which is said to have demon
strated that Burr had misappropriated
s57, 900 of the money of the bank, prin-
cipally by improper charges against
nonresident customers of the bank.
The money so secured was invested, it
is claimed, in the Tyler Desk Co., in or
ganizing a milk-supply company and
in other outside enterprises, all of
which are themselves of legitimate
character.
When the directors charged Mr.. Burr
with embezzlement he vigorously de-
MED it, but at the same time began pay
ing back money to the bank. Finally
the bank officials called in National
Bank Examiner Galbraith, and after a
thorough investigation he caused the
warrant to be issued. According to
the statements made by some of the
banks officials the prompt action of
Examiner Galbraith in having war
rant sworn out for the arrest of Mr..
Burr was surprise to few of them.