The Red Cloud chief., 1897-01-08
w. A. HAMMOND A SUICIDE
The wrcrkcr of Illinois National Tank 4,
Drowned In the Ini q.

Drowned In the Inl q.
CntCAGo, Jan. 4.-W. A. Hammond,
the late second vice pre- 'idcnt of tho
dcfunct National Bank Of Illinois,
called ON Percy Palmer, his old friend
and confidential adviser, mt 4 o'clock
last evening and talked gloomily about
his future prospects. Palmer talked
encouragingly to him and about II
o'clock he went to his home In Evan
ston and about 1870 retired for the
night. lie and his wife had been I'm
the habit of sleeping In adjacent rooms.
Early this morning Mrs Hammond
noticed that the door connecting the
two apartments was open, looked into
the room and found that her husband
was not there. Ills night robe hung
over the foot of the bed and his watch
was on the table, but his clothes were
nowhere to be found, and he had not
taken his shoes and stockings.
The police were notified and soon
found n well-developed trail in the
form Of numerous scraps Of paper.
which led to the lake. A federal life.
saving crew at once began . search for
the body, and ut 1850 o'clock the
drowned body was found ut the foot
of Dempstcr street pier and taken to
the Evanston police station.
CHARGES or IRREGULARITIES.
Hammond a the vice president OF
the National Bank Of Illinois, and was
active In its management. I'm fact, he is
said to have been the responsible head.
since President Schneider was too
feeble To do much work ind the large
loans To the Calumet Electric company,
particularly, and to others, which 70.
suited In the closing of the bank, arc
understood to have been made by him.
The first open charges against the
business integrity of Hammond were
made only about ten days ago. Then
he was accused of enacting the charac-
ter of u ''kiter." He was accused Of
dcceiving the directors Of the bank
and the depositors and deliberately
violating the national bank law. Ills
alleged Irregularities were said to
have begun many years ago, when, II
Is alleged, he began to use the money
and credit of the bank In outside spec
ulations. This vas done in such a
manner, 1t was generally reported,
tuut uot OulN WcTc tnC ulTtCtOTS ut-
ceived, but the bank examiners M
well. Even old employees, thoroughly
familiar with the inside workings,
what was going on under their eyes.
When IL was openly charged that he
had falsifed the bank accounts an in
v~estigation suggested that the irregu-
l~arities must have begun nj least four
years age. At that time he is said to
have interested himself in the now
famous Calumet Electric railway. II
Is now believed that the first over
drafts to this railway, amounting to
$4,000. were made at that time, when
the comptroller of the currency immc'
diately called for a statement from the
bank and Hammond disguised the ir'
Irregularities by designating the over
drafts foreign exchange"
This alleged irrcgularity only cam
after many years of diligent service IL
the institution, the wreck Of which
proved disastrous to many. In these
years Hammond saved money, ant
worked early and late, and the posi-
ton he came to occupy was the result,
Of his years OF frugality and merit
Some of his savings invested legiti
mately in mining schemes brough,
him n good profit, which he i'm
mediately put into the stock o.
the bank. After he had served u,
cashier and became second vice presi
dent, it Is said. he began to personally
interest himself In many corporation,
which were applicants for loans and In
this way, in course of time, he driftet
into unwarranted speculations. Where
these turned out badly he is now ac'
cused OF sending good money after
bad" and Disgusting his over-loans In
various illegal ways.
THE FIRST SUICIDE.
The suicide of Hammond recalls tn,
suicide of Otto Wasmansdorff, tn,
banker, n few days ago. Wasmans
dorf's death was the direct result o
the failure Of the National Bank o
Illinois, the collapse of hat institution
pulling down the firm of Wusmansdorf
y Heinnemann.