The Irish standard., 1897-04-17
Can Be FOUND.
Bonds Belonging to the University
OF Illinois stil Messing.
10 4TRiCE'oF THEN YET DISCOVERED.
Had state Of AAairs shown In the
Il Globe Savings Bank Of Chicago
,.E,<-Nx-Gov. AltgelA 10 Placed in
an Unenviable Light.

C0lC88O, ApE1A x4s-41ed0ufe1-0paAO
ing, Of the board Of trustees of the Uni-
versity Of Illinois, who was expected to
come before meeting of the board
Tuesday and 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 OH one point, and that is that
-6palding ,has,hypothecated endowment
funds and that the board must now
confine 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.
'thetrustees agreed, 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
ftoqs 10 the alleged, rmismanagement of the
affairs Of the Globe savings bank in an
amended bill filed Tuesday by Charles
E. Churchill, cashier Of the defunct
bank. The bill is part of the receiver
ship proceedings, and brings into the
case a number Of persons not hereto
fore involved; President Charles w.
Spalding's connection with the bank 10
dealt with extensively in the amended
bill. It is averred that Spalding in-
duced H. c. Haley to make three prom
issory notes, aggregating upwards Of
:: 5,00o; payable to the order of Spald-
ing or the bank, upon the assurance by
6palding that he would deposit $40, 900
in merchantable bonds as security.
spalding, it is charged, used the money
for his own benefit, and set apart $40,-
900 in bonds.
- Property belonging to the bank has
been applied by Spalding, it is declared,
in the purchase of real estate, and it is
charged that he caused portion Of
besides himself, in order to conceal his
interests. It is also avcrred that Spald-
ing had used the money of the bank to
pay life insurance premiums, having
policies to the extent of $15O,000.
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 land 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 tzis also charged that Ford, Lane
hart or <Altgeld knew this. -.
OF sum of sos, 900 which the state
auditor ordered charged to the profit
and loss account Of the Globe savings
bank, it is represented that $4,000 was
Indebtedness of John p. Altgeld, and
that $4,000 was Indebtedness nominally
due from John Nv. Lanehart. It is
charged, however, that the last amount
was, in fact, a loan to ex-Gov. Altgeld.
It is also claimed in the bill that ex-
Gov. Altgeld has been transferring his
property with the intention of keeping
it from the creditors of the bank. Pres
ident Spalding,@ Vice President Avrill
and Cashier Churchill, of the bank, put
in an appearance Tuesday in the court
of Justice Hall and gave bonds for their
appearance April 10 to answer q charge
Of embezzlement preferred by Adolph
Edeinnan. one az fhe f1enositors in tho
bank.