Freeland tribune. (Freeland, Pa.) 1888-1921, 1894-11-29
ONE MORE BANK ROBBED.
Clerk Morgan Steals Thirty
Thousand Dollars.

Refunded the Amount StoIen---
Swindler Baker Obtained Large
Policies Before Killing Himself
New York, Nov. 27.-The case of
another bank being robbed by dishon-
est clerk has been made known. The
victim is the Bank of the Republic, at
No. Wall street, which the report
stated, had lost some $1,000 The thief
Is ID. e. Morgan, a clerk, whose home
is in Brooklyn.
He drove fast horses, spent money
lavishly and lived in a style far above
his position. His peculations We're car
rled on during the summer months.
When the shortage was discovered
his parents came to his assistance and
made good the loss, and the young
man was discharged from the bank.
Nice-President e. H. Pullen, of the
Bank of the Republic, acknowledged
that the bank had been victinized
by one of its employees.
Morgan was the discount and cou-
pom clerk, and had been in the en-
ploy of the bank only about a year. An
old employee had been displaced to
make room for him under the policy
of getting younger men for the bank
He is about thirty-fve years old.
This makes the third bank defalca-
tion within little more than a week.
None of the three robbers have been
punished. One of them, Seely, of the
Shoe and Leather bank, is missing;
another, John r. TAFT, who stole from
the Chemical bank, has gone scott
free, and the third, e. D. Morgan, is
also free.
By far the most important develop
ment in the disclosures relating to the
looting of the Shoe and Leather bank
was the fact that Frederick Baker had
as recently ago as Oct. 4 taken out
two $4,000 life insurance policies with
the Equitable Life Insurance Co. The
policies were what are known as in
contestable policies. An additional
premium of 500 each was paid upon
them to make them incontestable. In
case Of suicide a policy of this kind
is not vitiated Ordinary policies are
cancelled If their holders commit sui
eide within the first year after they
are issued. These two policies Baker
made payable to his wife. Another
policy for 50 500 that was issued to
Baker about fifteen years ago was as
signed to his wife on Nov. 13 last.
clearly to premeditated suicide At
the Equitable Insurance company the
officers We're very reticent about what
action they would take in regard to
the two $4,000 policies issued last
month. They were of the opinion,
however, that they would be paid.
They declined to say whether the
claims would be contested and were
not sure whether Baker had commit
ted suicide or not, although they freely
admitted that there was every indica-
tion that he had taken his own life.
The Mutual Life Insurance company
also insured Baker on two policies
some years ago. At the office Of the
company they said the policies did not
exceed $10,000 but they refused to
make known the exact amount It
came out that Baker had endeavored
to get an incontestable policy for
$4,000 from the Connecticut Indem-
nifty Life Insurance company with the
suicide clause waived. The company
refused to grant the policy. 1t is said
that Baker was also insured in several
other companies.
Shoe and Leather bank officials now
state that Seely and Baker stole 1884,
OOO instead of sS43, 900. An assessment
Of 20 per cent. has been levied upon
stockholders. Comptroller Eckels at
Washington has been notified No
trace has yet been found of the fugi-
tive bookkeeper.
Gen. Merritt, one of the attorneys
interested in the case, says Seely was
an inveterate gambler and lost large
sums. Augustus Kagel and others
claim that Baker as trustee for several
estates has stolen several hundred
thousand dollars, besides that taken
from the bank