Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-09-14
BANk-LOOTING SYNDICATE
seven Persons in the New OrIe,,,
Steal of S0O3,OOO.

seven fersons in the New Orlenn.
Stenl OF S0O.,OOO.
From the New York Sun.
NEW ORLEANS, September 13-Tbar.
is only one more secret to come ont T., 49,
wrecking OF the Union National Rank md
the pank panic which ragged here last weak
and 1t Is announced that 1t will he dis.
closed within the next twenty-four hours
mat Is the names of the confederates the
men on the outside who drew out and en-
proprlated the $500, 200 of the bank
money. Colcomb and Leone the bookkeep-
ers, cooked the accounts SO as to keen
the bank always in debt to these confed-
crates.
The bank was robbed by a syndicate
composed of seven persons two on the in
slde OF the bank and five on the outside.
Inc whole transaction was businessIike and
systematic, including an agreement &c ~
the amount to be drawn out or stolen each
day, and the division of the funds. Col
comb, whose lack of nerve was shown Ly
his suicide the moment suspicion pointed
to him, was the organizer of the nroisct
and It's director. 1t is reported tonfph N
that a confession has been made: thai
three members of the syndicate nave been
named, and that the only reason thor
vent any escape. as some of them are ont
OF town. The money went mainly In riot
GUS living; the balance on speculation with
the nope OF recovering the amount stolen.
IN the big cotton speculation last wear
when cotton went up SO high, the syndicate
was ahead of the game. The sudden COL
lapse OF the market prevented it from
making good the banks money AMI ren
uered a new raid necessary. The bank has
oeen plundered more heavily than ever
since. The outside members Of the syndi-
cate are said to be high livers. Not so
Colcomb and Leone; they could not he 81
ha
desks working away to cover up the crook
edness in their books. They had little
time for spree. Colcomb spent most of
his share of the swag on his family He
lived most luxuriously, had ten servants.
and houSekeeper to relieve his wife of
the trouble of domestic affairs, a rather
large household for a clerk on a salary
of $3.50 month. He had evidently antici
pated that the defalcation would come ont
sooner or later, and had determined en-
suicide when it did, for he carried the
poison on his person to be used at a mo-
ment's notice. He had many frienis. and
they all speak Of him as generous and
brave. To commit suicide Is the only thing
a gentleman could do under the circum-
stances, they say.
Colcomb was interviewed on Thursday
night about the banks condition. He was
calm and collected then and apparently
in the best Of humor, although 1t was only
few hours before his death. and he had
then evidently determined OH suicide He
did not tell his family of his intention
and it was not until several hours later
that he took the poison and Ias discovered
in an insensible condition. Once or twice
in the next thirty-six hours he opened his
eyes and looked around the ROOM but he
neither spoke nor seemed to know any one
Colcomb's death renders the work of in
vestigating tho defalcation very difficult
and United States Bank Examiner Escott
doubts whether 1t will ever be possible to
know all the details.
The receivers Of the Bank Of Commerce
and American National Bank will take pos
session Of them tomorrow. The other two
closed banks, the Mutual National and
Union National, still remain in the hands
of the United States examiners. 1t is
thought that the panic is over and that
there will be no trouble tomorrow.
United States Bank Examiner Escott
completed his first trial balance of the
Union National Bank tonight and found
the amount stolen to be 1902. 6s7.O7 This
Is subject to an increase when all the ac-
counts are carefully examined.