The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-05-03
OISPIRACY CHARGED.
..;tors Of Globe Savings Bank
Tell Their Suspicious.
/, GOVERNOR ALTGELD's DENIAL.

- u,s Great Confidence I'm the
institution and Its President,
hectares He Was I'm No way 10
-. for the Coiiapse--omcers Made
10, Eaorts To secure business for the
Close Relations Existing.
,.ago May CONSPIRACY is the
,os, charge ia the Globe Savings bank
,,ootion. 1t is strongly intimated
least five persons-all bank OH
ja,.-conspired to defraud the public
1. soliciting all the deposits possible
t. the bank after March 10, the GATE
80 meeting Of the eastern stockhold-
|. a. which the 80 per cent. assessment
&c repudiated. Charles w. Spaiding
looked upon as the head of the con-
piracy
nepositors of the defunct financial IN
,,,,t,on in their testimony before the
|rond jury, told OF the close relations
I,norently existing between the officers,
Ia said they made special effort to Sc
,ra business for the bank. Edward
o,es NJ Red Oak, Ia. a director and
sorrer cashier in the Globe Savings
bank. in view of late evidence STANDS III
|ad light. Ex-Governor Altge'd In MS
bterview to the press, said with regard
him: "As soon as Hayes went 70
Fork the bank began to go down.
In Touch with Spalding.
Tho governor. further, strongly limited
of HAYES was guilty Of criminal In
Int" II seems evident that he was
foselv in touch with Spalding at al
[,nst every turn, although the statute
n limitation may operate in his favor.
Sx- Governor Altgeld defended himself
rom the attacks made upon him. HIS
tatement was largely in the nature or
denial The most important portions
I his declarations are quoted verbatim.
He said:
"In the first place, / want to say that
never got any benfit, directly or in
5irectlv. from the Globe Savings bank.
When I was connected with the bank
saved II to be all right in every way.
|gotS into politics in 1892. and, finding
}at I would be unable to give proper
3teny lion TO the bank, / withdrew. Mr..
MlAfI look Clldl sc Oh Oh VI my 60
firs about the middle of 1892.
"Dnuring the panic some paper which
EaaSbeen sold in the east for me came
| lex. as I was informed. and while the
bank was not legally liable to take II
|lp. IL was responsible to do so to keep
| IS custom. When returned from
Springfield last January. ! found owed
! Inc hank 0.0O0 Since then | have paid
800. had made arrangements to take
y. 500. had made arrangements to take
AGAINST me, when it closed it's DOORS
Had Faith i'm the Bank.
To show his faith in the bank, the
Ex-Governor said: MY wife, my broth
&r-in-law. Mr.. Ford, and several of my
intimate friends are losing heavily by
he failure" AS to the placing of the
University bonds, Mr.. Altgeld said:
Various members Of the board COM
blamed because the treasurer had not
bald interest on balances. / was asked
u did not think a treasurer could be
secured who would pay interest. l re-
piled that I was satisfied such a man
tould be found j was asked then to
recommend some one"
The ex-governor declared at that In
Fervew he made no recommendation
Later several trustees were at Spring
field and reported the names of two ap-
tplicants for the treasureship. Both were
willing to pay 2h per cent. These mer
|were John r. Walsh and Mr.. Spalding
told the trustees" said the ex-gov'
Ietnor that both men were good. Ir
REPLY to a question / said / had ne
choice"
Further. Mr.. Altgeld declared he hat
done nothing to influence the trustees II
Their selection.