The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-08-28
COL. oLMsrEAD's SHORTAGE.
The Total Amount, Principal and In
terest. Is SCI. 9lO.54.

terest, Is Sol $1,000.
Below is presented statement Of
the full amount appropriated by Col
Charles II. Olmstead, from the va
rious estates mentioned, which he
had in charge The MoRNING NEWS re
quested this statement soon after it was
definitely known that the estates had suf-
fered at his hands. For reasons that
have already been given in the MORNING
News a satisfactory statement could not
be obtained Immediately The close
friends of Col Olmstead agreed, how
ever, that the public was entitled 20 such
a statement. The people Of this city had
trusted him implicitly and they desired
to know in what respect, and to what ex-
tent, he had violated their confidence.
The MoRNING News has not sought 10
shield Col. Olmstead nor excuse his
ofense. 1t has published the facts as it
could get them. 1t recognizes the fact
that Col. Olmstead has given this com
munity the greatest moral shock it has
ever received. There have been many
others in Savannah within the last ten or
fifteen years who have committed similar
offences, but the offence of no one Of them
affected the people so profoundly as his
has, because he had their respect, esteem
and confidence to a degree that few men
have them.
The fact that the lives of some of these
offenders ended tragically, that others
were practically wrecked, and that no
one of them has prospered should be
warning sufficient to keep from doing
wrong any one who is tempted to violate
a trust.
The statement which Col. Olmstead's
friends make for him is the following:
with the hope Of setting at rest cur
rent rumors, and that the truth may be
definitely known, the friends of Col Ohm
stead, with his authority, state that the
amount of his fduciary debts, principal
and interest, is Sol ,Sl0.54. Except $1,000
due the estate Of the late Mr.. H. Brig
ham, it is made up of what he owes two
mem bers of the Brigham family, the es-
tate of Miss Florence Bryan, and benef-
Charles (the Barnards and others) under
certain trusts, made by Savannah lady.
In an evil moment, Col. Olmstead,
when embarrassed for money, went into
speculations in futures expecting that he
would hazard only to the extent of his
ability to respond promptly. Except
once before, he had never thus speculated
in his life and then with no peril to any
trust in his hands. These speculations
were disastrous, and in his efforts to re-
trieve, he made bad matter worse. No
part of the amount due went to personal or
family expenses All of it is represented
by bonds, which he used as collateral in
these speculatious. When Col Olmstead
left the city he took with him only 5000
his own money. Those who know him
best are confident that he did not use the
bonds with the idea of appropriating them
to his own use, or of keeping them, and
that, after his first loss, his sole purpose
was to return what he had wrongfully
used, with the determination of never
again violating trust
Col. Olmstead realizes more pro-
foundry than any one can express the
folly, the evil and the wrong of his course
He has suffered and will suffer as much
as the most malevolent could wish. If
his life Is spared, its all-absorbing pur-
pose will be to repair, as far as he can,
the evil he has done"