Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-04-10
WARRANTS ARE OUT.
Officers of the Globe Savings Bank
Charged With Embezzlement.

Chicago, April 9.-Warrants for the
! arrest of Charles w. Spalding, presi-
dent, A. d. Avrill, vice president, and
c. E. Churchill, cashier, of the defunct
! Globe Savings Bank, have been sworn
out by Frank Il. Stone, Of the firm of
Stone & Francis, depositors in the in
stitution. Mr. Stone went before JUS
tice w. T. Hall, and a complaint charg-
ing the officers Of the bank with embez-
Element was drawn up. The three war
rants were at once issued.
The officers may have some difficulty
in finding Spalding. Since the failure
| Of the bank he has been Frustrated.
! Friends say he is under medical care in
/ the city. AT the Plaza Hotel, where he
| lives, it was said last night that he had
not been there for twenty-four hours
or more.
The complaint charged that Spalding,
Avrill and Churchill, officers of the
bank, corruptly, wilfully, fraudulently
and feloniously did receive from Frank
e. Stone, of Stone & Francis, the sum
! of 5000 in lawful money, on account Of
that firm, which was in no way indebt-
| ed to the bank at that time. The de-
post, it is alleged, was made on March
| "a, and after that date the sum Of S35
was withdrawn. The complaint fur
ther charges that when the deposit was
made the bank was inSolvent, whereby
and because of such insolvency the
money was lost to Stone & Francis,
making the officers guilty of embezzle-
menU.
The complaint is similar to the one on
which e. S. Dreyer was arrested at the
instance of Frank E. Kennedy, one OF
the depositors in the formers bank.
On Sunday afternoon meeting of de-
positors of the Globe Savings Bank Will
be held. Mr.. Stone and other deposit
tors have sent out a notice to the de-
nositors of the Glove Savings Bank to
attend the meeing, when action will be
taken "to form an organization to in
vestigate and probe the failure o1 the
bank and take such action as VIII pro-
tect their interests in the premises.
Acting on the suggestion Of the trustees
of the University of Illinois, Receiver Le-
man of the Globe Savings Bank, which
closed its doors last Monday, has begun
euj+ for Injunction in the Circuit Court
70 restrain President Spalding from taxi
ing ANYTHING out of the vaults of the GLOBE
Safety and Deposit Company which were
used bv the bank. This action is said 10
have been taker because 1t is not known
where the bonds belonging othe endow-
ment fund. valued at $4,000, are being
kept.
Mr.. I,eman. in speaking of the suit, said
ha d;d NOT know what was in the vault
boxes but he wanted to he on the safe
side and for that reason he secured the
Injunction to prevent Mr.. Spalding from
having access to them. Spalding was sup
noead 70 keen the bonds belonging to the
endowment fund.
NASHUA. n. H., April 9-The news
that warrants have been issued for the
arrest of President Charles w. Spalding,
Cashier c. E. Churchill and Vice President
A. D. Avrill of the defunct Globe savings
Bank. of Chicago, the stock OF which IS
largely owned in this State, was no great
surprise to the Nashua STOCKHOLDERS
While no OPEN charges OF Ncriminai con-
duct have been made, there have oeeh
many complaints Of acknowledgement on
the mart of the bank officials, and when'
about two weeks ago, request that the
stockholders contribute an assessment OF
30 per cent. was made, committee OF two
was annointed to look into the banks af-
fairs. Among the holders of the stock in
New Hampshire are the Nashua Savings
Rank Wilton Savings Bank, Milford Saw
inrs Rank. New Hampshire Banking
COMPANY. two banks at Keene, and sew
oral nrivate individuals. The banks how
ever are not as heavily involved as are
the individual investors.
c. E. Churchill, cashier Of the suspend
ed Globe Savings Bank, for whose arrest
warrant on charge Of embezzlement
was sworn out yesterday, surrendered him
self to-day and furnished bonds or his ap-
nearance President c. w spalding and
Vice President a D. Averill. for whom
warrants are also out, have not yet put
in an appearance. Developments to-day
have brought o. t1t the fact that a fan
greater amount df University Of Illinois
funds is involved fn the suspension Of the
hank than has beep supposed Two years
aro the State Legislature appropriated