St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-25

1t can be announced tomorrow morn
ing that both men are dead there will
have been a quietus put on such eXhi-
billions more effective than can be Sc
cured by police and militia. 1t is con-
summation devoutly TO be wished.
A RASCAL BROUGHT TO TAW.
The conviction of Banker John B.
koetting, of Milwaukee, on charge of
having received deposits after he KIN ew
the bank was insolvent, is something
for which the public has cause to be
grateful. although the punishment he
will receive. even though the extreme
limit of the law is enforced, will be far
from commensurate with his crime.
Mr.. Koettng, as the president of the
South Side Savings bank, did large
business among the frugal poor of Mil
waukee. He had their most implicit
confidence. The bank was prosperous,
for there was ii good demand for money
at fair rates of interest on good security.
But Mr.. Koetting was not getting rich
fast enough. There were others in the
city who could count their wealth by
millions, some of whom had acquired a
very respectable start through specula-
tons on the chamber of commerce. Mr..
Koetting entered upon the career of
a Spectator by degrees. Occasional
flyers" in wheat, pork and lard met with
varying success. He was neither much
richer nor much poorer than when he
began the hazardous business. At last
1.-THE opportunity of his life" came.
There was large speculation in lard.
and the extremes of prices promised to
be wide apart. If he could only get on
the right side his fortune would be
made. He heSitated little, but finally
took the fatal plunge. All the money
he possessed was haZarded, and grad
ually ali the money of the depos-
itors in his bank followed it.
But the market went the wrong
way. and with it went almost every dol
lar of Koetting's money, besides all
that belonged to his creditors. The late
financial storm broke; his bank an
nounced its suspension, and Koetting
fled to Mexico. But justice was at his
heels. He was brought back under
guard and placed in jail. He was for
UNIV III pNloOIlQl LII
many of the depositors threatened to
Wreak summary vengeance upon him.
He refused bail, preferring to remain
behind the iron doors of the Jail to fac
ing mis- creditors where they might lay
hands upon him. lie trembled for his
safety when he was brought into court,
and beSought the judge for a bodyguard.
He feared he would not haYe a fair trial
because of the prejudice existing in
Milwaukee, and, change to another
county being refused him, he succeeded
in having judge brought from an adj
joining county to try the case. When
all possible means of delay had been eX-
hausted the trial proceeded. His wit
nesses endeavored to prove that he was
the victim Of others cupidity rather
than of his own lust for gain, but they
utterly failed, and after a protracted
trial conviction has resulted.
The looting of the bank by Koetting
was one of the most outrageous in
stances of rascality in the history of the
Northwest. The business of the insti-
tuition was with the poorer class of
citizens, and there is evidence going to
show that the robbery was planned and
escape from the consequences expected
because of the inability of the victims
to prosecute. But in this the criminal
was disappointed. The mOneyless de-
pOsitors found friends who espoused
their cause, and, although they are still
mourning the loss of their savings, they
have the satisfaction OF knowing that
the author OF their poverty is receiving
some slight punishment for his mis-
deeds.
The conviction of Koetting is crafty
ing from another point of view. Those
entrusted with the money and property
of others are too often guilty of laches
or crimlnality in their disposition of
their trust. Their wealth and social
influence have been relied upon to
screen them from punishment. aid too
often this reliance has been effective.
The poor have come to feel that they
have no redress for wrongs inflicted
upon them by the rich, and the courts
have frequently been accused of par
TALLY towards the afflueut. There may
be ground for some complaint in this
direction, but, as rule, justice is al
lowed to sleep by reason OF the folly of
those who seek its aid. The courts can
generally be depended upon to mete out
punishment where it is deserved with
an impartial hand. koetting'S fate
should be warning to others situated
as he was to bear constantly in mind
the responsibility under which they
rest, and to have a care lest they
abuse it.
The fifteen-dollar alderman's fate,
en- for nc tho ranort of +bo oouuoil oop,