The record-union., 1896-10-19
ALoy DIST of Confding Clients Mourn
His Duplicity.
Defalcations for Over $3.50. 600 Dis
covered So Far, and the End is
Not Yet-HOW He Worked His
Game of Observation-Disclosures
Abstracts and Records to Suit
Himself and Palmed Them Off on
Unsuspecting Investors.

w T. RambuSch, the defaulting banker
and real estate man who has been miss
ing for ten days, beyond the intelligence
conveyed in a letter from the East that
he was in Philadelphia, has reached
this city. Inquiring investors who
trusted him implicitly have crowded the
town during the week, but only addi-
1cnal proofs of RambuSch's rascality
have rewarded their search for availa-
ble assets. Yesterday a small bottle
OF clear fluid in which rested a little
sponge was found. This, on being sub
united to a chemists test proved to be
an erasing fluid, and by its use Ram
busch had manipulated deeds and
records at will.
The defalcations already brought to
light reach the sum of S250000, and
those engaged in the work of straight
ening the books claim the end is not
yet. The only assets thus far dscov-
cred amount to 5000 and consist of
the records in Mr.. Rambu-ch's office
worth about 10000; stock n the Citi-
zens' Bank to the value of 81, 800 few
notes Of doubtful value and piece of
nnortgaged real estate. The principal
losses are sustained by the following:
George Hawkins, Watertown, S10.0 600;
Mrs. l.. Winfield Spence, Fond du Lac,
s26,OOO; Nelson estate, $4,000; p c.
Quentmeyer of Watertown, $1,000: Mrs
jeanette Howells Milwaukee, $4,000;
D. Fl. Bement, $1,000; Silas Coleman.
Fond du Lac, $1,000; J. J. Williams,
Beaver Dam, $4,000; W. Albert, Hori-
con, $4,000; mortgages for smaller
amounts to register of deeds to exam
inc, most of which are fraudulent.
$50, 1000.
Rambusch's operations extended over
period of twenty years. He must in
that time have handled between 81
tOO,000 and S3,0O0,O00 in the work of
buying and exchanging MORTGAGES
How much he received from his clients
CT how much he paid them cannot be
determined. He left no account books
worthy Of the name. What he did
leave do not extend over the whole
period that he has been in business
and do not show in more than a few in
stances Of his having received money
Tor mortgages. They do show that he
las paid large sums for interest on
mortgages.
He handled thousands of mortgages,
rs he was the trusted financial agent
of a number of wealthy investors
The only way his defalcations can be
found out is for all those who hold
Dodge County mortgages to send them
10 Juneau to have them looked up and
for all those who own property in the
county to examine and determine
whether it has been affected by his fic-
titious mortgages or deeds
Rambusch, owning the only complete
abstract record in the county, had the
key to the situation. The manner in
which he was caught well illustrates
9is peculiar method of dealing. One of
Rambusch's most faithful and profita-
hle clients was Mrs. Laura Winfield
Spence Of Fond du Lac Mrs. Spence
Is married a second time. Her first hus-
hand was a Mr.. Winfield, a banker and
a friend and companion of Rambusch.
lie invested through the latter and his
Wife, after his death, continued the
practice.
Mr.. spence, however, was not of the
confiding nature Of his wife. His sus-
Iicions We're aroused early in the sum-
7ner, when in looking over his wife's
securities he noticed what uniformly
clean abstracts were furnished by Ram
busch. They We're all in the latter s
handwriting. They We're all short. Few
OF them showed that the farms had
been incumbered at any time since the
Government gave its patent to the first
settler This was a strange circum-
stance, as Mr.. Spence from experience
knew that the pioneers We're poor and
that 1t is the usual thing for farmers
to mortgage their land.
1t also appeared strange to him that
most of the mortgages We're given on
land owned by widowers. or unmarried
and contained but one signature. On
October Sth he came here to learn if
the taxes We're paid on all of the land
on which his wife had advanced money.
Mr. Rambusch was out of the city and
he began an investigation on his own
account. In looking over the register
of deeds record he found a mortgage
from John Rohde to Laura w. Spence
for $500 He did not remember the doc
ument but knew there was a mortgage
against John Rohde for $1,000.
He at once went to Rambusch's office
and looked up the original abstracts. II
was all right. Up to the last transac-
1ion there had been no transfer to John
Tsohde. He left a note for Rambusch
saying he wanted to see him at Beaver
Dam on Saturday to have some matters
explained Rambusch did not come
Spence found there was no such person
as John Rohde and that Rambusch had
not only executed a fictitious mortgage
but he had after recording it, raised
the amount to 81, 800.
Rambusch was frightened by Spence's
note and drawing $500 from the bank
left town. Mrs. Spence placed an at
tachment on all of his property the next
Gay and then the whole story of his
transactions began to unfold itself.
The confession of Rambusch. which
came in the form of a letter for his wife
Is far from complete. The family refuse
to make the letter public. although the
authorities have been allowed to read it
1t tells nothing of what he did with the
money. He says that for twenty years
his life has been a lie. He has led a
dual existence and tina: life had at last
become unbearable and when his wife