The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-04-10
SPALDING TO COME BACK.
THE MISSING CHICAGO BANKER
HEARD FROM BIZ LETTER.

ne write. - . Friena Thns NE win Appear
Before the State Univeruity Trustees on
R1onday-garrnnt Ont fer His hrrest-As-
socintes In the Bank Arrested Yesterday.
CHICAGO. April e.-President spaldine Of tho
Globe Savings Bank and Treasurer Of the nli-
nois State University at Champaign, who was
custodian of over $500. 900 OF the State Uniyer-
sity's funds In bonds and cash that have disap-
poarod, is not In the city. but in o letter written
to q friend in Chicago this morning says he will
DO hero Monday morning.
Meantime Detective Sergeant Frank Stiblo Of
the Central police station il looking for him
with q warrant.
Warrants wore issued last night for the arrest
Of Spaldins. A. D. Avorill, and Charles q.
Churchill. President, Vice President, and cash
Ter respectively Of the Globe Bank. The war
rants charged tho officers OF the bank with en-
beZEloment, and were sworn out BY Frank X
Stone of the firm of Stone & Francis. Tho hrm
was o dopositor at the Globe Bank, and the
charge 10 that money was received after the
officers knew that the institution was insolvent
Mr.. Churchill appeared before Justice Hall
this morning and furnished bonds for his ap-
pearance April 10. This afternoon vice-Presi-
dent Averill also appeared and furnished bonds
for his appearance on the same day. President
Spalding at present, It is said. is unable to leave
hlo b0us u u 10 hO VIZ epPSo 1870
| give bonds for his appearance on Monday.
Mr.. Spalding was unable to appear before
tho university trustees at thoir meeting. and
another meeting has been called for next
Tuesday. At that time a now Treasurer will
be elected. and Mr.. -Spalding will DO asked
to give an account Of tho money. Careless
ness is charged against tho university
officials during tho latter part of Mr.. spalding's
term as Treasurer. 1t is said that his accounts
have not been audited for ovor two years- His
term expired carly in March, but owing to o dis
agreement among the trustees no election for q
new Treasurer has been hold.
The university has his bond for more than
enough to cover his trust, but thero Il no GER
tainty that tho bond can be realized on In case
OF emergency. Meantime the case assumes the
aspect Of q chase between tho University OF I'LL
| ndis and the Chicago Title and Trust Company
to see who can get first claim on the property OF
Mr.. spalding.
Henry w. Leman, vice-President Of the trust
company, acting for the depositors Of the Globe
Bank, IL working to get in ahead Of tho univer-
sity people. He is working on the superstition
that Mr.. spalding is indebted to tho bank He
has secured injunctions against all tho property
which is under tho control Of Mr.. Spalding. and
which has not been turned over to the trust
company as receivers of the defunct bank. Mr..
Leman said to-day:
IT do not know that Mr.. Spalding IL indebted
to the bank nor that his accounts with It arc not
all right, but a. q precautionary measure 1 Am
seizing everything In sight. By doing this at
at once. before the university people geta chance
to serve injunctions. I hope to save property for
tho benefit Of the depositors who have lost their
money In tho failure"
Friends OF Spalding say he Ii undor medical
care in the city. At the Plaza Hotel. whore he
lives, it was said to-day that he had not been
there for twenty-four hours or moro.
On last Wednesday Francis 7. Mckay. Pred-
don't of tho Board of Trustees, and Prof. 8. W..
shattuck. business agent Of the board. found
Mr.. spalding's private seoretarE; He finally
s cor seslain to t sak' condition pIGi; sh shss Prof. 70
shattneS should not reveal spaldins's
Whereabouts. Yesterday. Prof. Shattnck re-
ported to tho board that he found SpaldinF ap-
parently, very sick, and his physician forbade an
told him that next week he would account salts
factorily to the trustee for tho funds Of the State
Yesterday q lot of bonds Of counties and school
Farson Of Farson. Leach & Co.. bankers. Mr..
Farson suspected that they were bonds belong
ing to the University Of Illinois and refused TO
purchase them.
auired by the University of Illinois ahall not DO
resold and can only be redeemed at maturity.
The Trustees of tho University have no means
OF ascertaining whether Spalding has hypothe-
Gated any Of the bonds; Most Of them were
stamped. Property OF tho University or
re Altgeld said to-day that he had moth
ing to do with tho appointment of sDalding a.
treasurer.