The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-01-04

Throws Himself into Lake Michigan
Sensational Developments Are Being
Promised.
Chicago, Jan. 4.-W. A. Hammond,
second vice president of the National
Bank of Illinois, is believed to have
committed suicide. He was missed
from his home in Evanston Thursday
night and Friday morning certain Of his
effects were found on the Dempster
street pier in Evanston. Police and
| life saving crew are searching the lake
in the vicinity for the body. Since the
failure of the bank a number of ru-
mors have been set afloat in relation to
the same, and these rumors have had
a peculiar significance. This in connec-
ton with the fact that Mr.. Hammond
was of a nervous and sensitive nature
has probably led to his death. Mr..
Hammond resided at "a Greenwood
boulevard, and his relatives and friends
on missing him at ,once began syste-
matte search about the pretty suburb.
A tug was telephoned for by George ;.
Lord of Lord, owen & Co., who lives
in Evanston and Is a friend of the Ham,
mond family. About o'clock he called
up the Dunnarn Towing company, and
the tug 7. r. Morford, which was close
at hand, was called out at once. 1t
was sent down the river, and ii moored
for few minutes at the central life
saving station. When it left for Ev
anston it was accompanied by the life
saving crew in charge of Acting Keep
er Hannah. When the tug left it was
estimated that it would reach the Ev-
] 40
sci was in charge of Captain William
Smith.
Wife and Four Children.
Mr.. Hammond had a wife and four
children, the Oldest being about II years
of age. He was a man in middle life,
being about 45. The police say that
Mr. Hammond has acted strangely for
several days, but a telephone message
from the house stated that nothing out
of his usual manner was noted Thurs
day night. She family do say how
ever, that if he jumped into the lake
the cause must have been mental aber-
alton. Mr.. Hammond has, in some
quarters been openly accused of wreck
ing the gigantic financial institution of
which he was the second vice president.
The first open charges against the
business integrity Of Mr.. Hammond
were made only about ten days ago.
Then he was accused of enacting the
character of "kiter." He was accused
of deceiving the directors of the bank,
the depositors, and deliberately violat-
ing the national bank law. His al
legged Irregularities were said to have
begun many years ago. when the vice
president began to use the money and
credit of the bank in outside specula-
tions This was done in such manner,
il was generally reported that not only
were the directors deceived, but the
bank examiners as well. Even old en-
ployes of the bank, thoroughly famil-
lar with the inside workings of it, were
said to have been unaware Of what was
going on under their eyes.
Had wild Schemes.
When II was openly charged that the
second vice president had falsfied the
bank accounts and investigation sug-
gested that the Irregularities must have
begun at least four years ago. AT this
time Mr. Hammond is said to have in
terested himself IN the now famous Cal
umet Electric railway. 1t Is now be-
lieved that the first overdrafts to this
railway amounting to $175,O00, were
made at this time, when the comptroller
of the currency Immediately called fol-
a statement from the bank, ana Ham
mond allowed himself to disguise the
irregularity by designating the over
drafts foreign" exchange.
This alleged irregularty only came
after many years of diligent service In
the institution, the wreck of which
proved disastrous to SO many. In these
years he had saved money, worked
early and late, and the prominent posi-
ton he came to occupy was only the
natural result of his years of frugality
: and merit With the first desire to aug
ment his proper salary his speculative
eye turned far from the bank.
Some of his savings, invested legiti
E. mately in mining schemes, brought hin
good profit, which he Immediately pu
2 into the stock of the bank. After he haC
served as cashier and come to be sec
ond vice president of the bank, with al
the duties, obligations and responsibili
! ties Of that position upon him, HI
: looked further for a field. With sucl
large sums of money requiring invest
ment II is said he began to PERSONAL!
interest himself in many corporation
which were applicants for loans ant
, that in this way, in course Of time, hi
I Judgment became biased.
The Way the Money Went.
From a careful banker those who ar
now engaged i'm clearing away tn
wreckage of the financial house o
Q which he was practically the head sa,
i he soon drifted into unwarranted spec
: ulations. Where these turned out bad
$ ly the vice president is now accused o
4 sending good money after bad and dis
4 guising his over loans in various an
: illegal ways. When ii was known tha
: he had developed this speculative ten
$ dency he was besieged by scores o
e those whose projects might be terme'
{ somewhat shady and whose credit wa
Q in the main the promise of unusual an
: unmercantile returns. One of the vic
presidents early investments, said {
have been with bank funds, was tn
purchase OF bonds of Streets Wester
9 Stable Car company at "a cents on tn
r dollar which. II Is said, he then sold {
n himself as director of the company a
y par.
: IL Is further charged that so com