The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-10-19
RAMBUSCH'S DEEP RASCALITY.
HIS OPERATIONS EXTEND OVER A
PERIOD OF 20 YEARS.

Assets in Sight valued at About
sa5.OOO-Owned the Only Abstract
of Titles For the County.
1neau, Wis, Oct. 1S.-No trace of w.
n Rambusch, the defaulting banker and
real estate man, who has been missing for
ten days, beyond the intelligence convey
sd in a letter from the east that he was
in Philadelphia, has reached this city.
1nouiring investors, who trusted him i'm
nicltly, have crowded the town during
the week, but only additional proofs of
Rambusch's rascality have rewarded their
search for available assets. Yesterday,
a small bottle of a clear fluid, in which
rested a little sponge was found. This
on being submitted to a chemists test,
proved to be an erasing fluid and by its
use. Rambusch had manipulated deeds
and records at will.
The defalcation already brought to light
reaches the sum of $25O,OOO, and those en-
gagged in the work of Strengthening the
hooks. claim the end is not yet The only
assets thus far discovered amount to $685.
O0O and consist of the records in Mr.. Ram
buschs office, worth about $4,000; stock
in the Citizens Bank to the value of 1880,
q few notes of doubtful value, and piece
of mortgaged real estate. The principal
losses are sustained by the following:
George Hawkins, Watertown, $4,000; Mrs.
L. Winfield, Fon du Lac, $4,000; Nelson
estate. 500 900; Mrs. Jeanette Howell, Mil
waukee, $1,000; P. C. Quentmeyer, Water
town, $1,000; D. H. Bement, $1,000; Silas
Coleman, Fon du Lac, $1,000; j. ]. Will
iams, Beaver Dam, $1,000; w. A. Horton,
5000; mortgages for small amounts given
to register of deeds to examine most of
which are fraudulent, $4,000.
Rambusch's operations extended over
period of twenty years He must in that
time have handled between $2, 900 and
100000 in the work of buying and ex-
changing mortgages How much he re-
ceiyed from his clients, or 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 the bus
mess, and do not show more than a few
instances of his having received money for
mortga ges. They do show that he has paid
large sums for interest on mortgages. He
handled thousands Of mortgages, as he
Was the trusted financial agent of a num-
Der of wealthy investors.
The only way his defalcations can be
found out is for all those who hold Dodge
county mortgages to send them to Juneau
to have them looked up, and for all those
who own property in the county to exam
inc and determine whether it has been af-
fected by his fictitious mortgages or deeds.
Rambusch, owing to the complete alb
suact record in the county, had the key
10 the situation.
The manner in which he was caught
well illustrates his peculiar method of
dealing. one of Rambusch's most faith
tUl and profitable clients was Mrs. Laura
winfield Spence of Fon du Lac. Mrs.
Spence is married a second time. Her
hrst husband was a Mr.. Winfield, a
banker and a friend and companion of
Hambusch. He invested through the lat
Ter and his wife after his death continued
the practice. Mr.. Spence, however, was
hot OF the confiding nature of his wife
his suspicious were aroused early in the
summer, when in looking over his wife's
securities he noticed what uniformly
clean abstracts were furnished by Ram
Dusch. They were all in the latter's hand
writing. They were all short. Few of
them showed that the farms had been en-
cumDered at any time since the govern
ment gave its power to the first settlers.
ms was strange circumstance, as Mr.
spence, from experience, knew that the
P'Heets were poor and that it is the
usual thing for farmers to mortgage their
Idhd. 1t also appeared strange to him
sAdl most of the mortgages were given on
lana owned by widowers or unmarried
people and contained but one signature
OH oct. he came here to learn if the
taxes were paid on all of the land on
winch his wife had advanced money. Mr..
hanbusch was out of the city,
S ana ne began an investigation on
LII.
over the register Of deeds record he found
a mortgage from John Rohde to Laura w.
spence for $500. He did not remember
1He document, but knew there was
mortgage against John Rohde for s., 800.
ne at once went to Rambuschs Office
ana looked up the original abstracts. 1t
was al right Up to the last transaction
there had been no transaction to John
nonue' He left note for Rambusch.
TIayhg he wanted to see him at Beaver
1aIl on saturday, to have some matters
eeApialned. Rambusch did not come.
spence found there was no such person
a. John Rohde, and that Rambusch had
iot only executed a fictitious mortgage.
Dul he had, after recording it, raised the
Sn9unt TO $3.50. Rambusoh was fright
Snou py Spence's note, and drawing $500
-,om the bank, left town. Mrs. Spence
laced an attachment on all of his proper
~ ~ lue next day, and then the whole
Itself. ~
me confession of Rambusch. which
Vane in the form of letter to his wife,
- lar from complete. The family refuse
10 10 make the letter public, although the
%uInorities have been allowed to read it.
~ Tells nothing of what he did with the
money. He says that for twenty years
Als NE has been lie. He has led a dual
e@istence, and that life has at last become
uuoearable, and when his wife received the
iy''er, ne would be dead. He claimed
"'S income from the office was not suf1l-
GENT to keep up his house in the way in
Nmch he wanted to run 1t. He says he
1nu not used any of the money in gambling
vi speculation, or had not as might be
eAarged, spent it for pleasure or debauch-
s.y, The letter was dated at the Colon
"eue hotel, Philadelphia.
twenty years ago Rambusch was en-
h"sed in the real estate business in part
Hershp with Richard Mertz. They pur-
VHased the abstract office of Judge Lewis
una ne was pushing them hard for pay
ment In October, 1877, a small brick
"uidlng in which were the county officers
ana all of the real estate records, was
.urned. IL was charged at the time that