Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-04-16
CAN'T Be FOUND.
Bonds Belonging to the University
of Illinois Still Missing.
NO TRACE OF THEN YET DISCOVERED.
bad State of Affairs Shown In tho
Globe Savings Bank of Chicago
-Ex-Gov. Altgeld IL Placed in
nm Unenviable Light.

Chicago, April 14.-Treasurer Spald-
ing, of the board Of trustees Of the Uni.
versity of Illinois, who was expected to
come before meeting of the board
Tuesday aud explain the disappearance
of university funds intrusted to his
keeping, failed to put in an appearance.
At the meeting which was held behind
closed doors E. G. Keith was elected
treasurer in Spalding's place.
1t was evident that the trustees are
agreed on one point, and that Is that
Spalding has hypothecated endowment
funds and that the board must now
conane its attention to the work Of
corraling securities sufficient to cover
the missing bonds and cash fund of
$4,000 which was in Spalding's pos
session when the Globe savings bank,
of which Spalding was president,
failed. The list which was received
from spalding, giving the kind and de-
nomination Of the securities which he
offers to cover his liability for the en-
dowment bonds, was submitted This,
the trusteesagreed, was an admission by
spalding that 100000 Of endowment
bonds are not in the state, where he can
obtain possession of them.
Additional charges are made in regard
to the alleged mismanagelnent of the
affairs of the Globe savings bank in an
amended bill filed Tuesday by Charles
Z. Churchill, cashier of the defunct
bank. The bill is part of the receiver
ship proceedings, and brings into the
case number of persons not hereto
fore involved. President Charles w.
Spalding's connection with the bank is
dealt with extensively in the amended
bill. 1t is averred that Spalding In
duced H. G. Haley to make three prom
issory notes, aggregating upwards Of
$4,000, payable to the order of Spald-
ing or the bank, upon the assurance by
Spalding that he would deposit $40, 900
in merchantablc bonds as security.
spalding, it is charged, used the money
for his own benefit, and set apart $4o,-
900 in bonds.
Property belonging to the bank has
been applied by Spalding, it is declared,
in the purchase of real estate, and it ia
charged that he caused portion of
this real estate to be conveyed to others
besides himself, in order to conceal his
interests. 1t is also averred that Spald-
ing had used the money of the bank to
pay life insurance premiums, having
| policies to the extent of $15O,0OO.
Another section of the amended bill
says that Spalding, Edward Hayes,
Charles j. Ford and John w. Lanehart
deceased, the latter either for himself
or for ex-Gov. John P. Altgeld, pur.
chased tract of lind of so acres in
Cook county, and Spalding, it is alleged
paid for his share of this property out
OF funds of the Globe savings bank
and it is also charged that Ford, Lane.
hart or Altgeld knew this.
OF sum of 100000 which the state
auditor ordered charged to the prof,
and loss account of the Globe savings
bank, it is represented that 900 was
Indebtedness of John P. Altgeld, and
that $4,000 was indebtedness nominally
due from John w. Lanehart. It is
charged, however, that the last amour,
was, in fact, loan to ex-Gov. Altgeld.
1t is also claimed in the bill that ex
Gov. Altgeld has been transferring hi.
property with the intention of keeping
it from the creditors of the bank. Pres
ident Spalding, Vice President Avril
and Cashier Churchill, of the bank, pu1
in an appearance Tuesday in the cour
of Justice Hall and gave bonds for thei,
appearance April 10 to answer u charge
of embezzlement preferred by Adolpt
Fdelman, one of the depositors in til,
bank,