The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-30
CHARLES ZSCHAU FURNISHES THE
GLOBE WITH A STATEMENT OF
HIS WRONG.
HE SIMPLY FELL INTO 1T.
THINKS HE WAS VICTIM OF IN
FAIR METHODS IN SPECULA-
TING.
Which Was Unattended, He Began to
Jugg1e With the Banks
Funds.

day sentenced to the state penitentiary
for eight years for having robbed the
National German-American bank of
$4,000, as told in another column, is,
generally speaking, resigned to his fate,
but believes the penalty imposed is
somewhat more severe than he deserv-
ed. He is still anxious that all stigma
should be removed from George Jack
son and goes to prison hoping to some
day retrieve his good name Zschau
dictated the following statement to
reporter for the G l o e at the county
Jail last evening:
ct considered the sentence rather
severe, even though l did withhold the
name of the confederate, which l did
Sc as not to place another family in
the same disgrace as 1 did my own.
1 confessed as far as I was concerned,
except as to giving the name Of the
confederate, and also returning the
money l had.
'In regard to the taking of the money
from the bank l desire to correct what
I believe to be some misconceptions.
Several months before the money was
taken from the bank, 1 had been en-
gagged in small stock speculations, and
to make good a margin with a local
broker, I drew a check for about $500
en- the Union bank, where [ had a
personal account, and as receiving tel
Ter of the National German-American
bank I cashed this check myself and
turned the money over to the broker.
This check went through the clearing
house and was credited against my &C
count at the Union bank. The day the
check was received at the Union bank
it was returned to the Commandment
can bank marked mot sufficient
funds" This was wholly a surprise to
me for had no idea but that my &C
count at the Union bank was large
enough to meet the check.
when 1 realized the condition Of
affairs was at loss how to readjust
the discrepancy on this check. l had
no available funds, having lost my
own savings, about $4,000 in all, and in
an unfortunate moment I decided to
carry the shortage in the daily clear
my position, 1 was enabled to do for
some time. When I took this action
l felt positive I should have been able
to meet the discrepancy the next day.
[ thought of going to Mr.. Lusk and
telling him of the returned check, and
assigning my salary to meet the short
age, but unfortunately, I did not take
this course. 1 was not able to make
good the shortage the next day, nor the
next and so it went I carried the dis
crepancy day by day, hoping TO make
it good.
Il was specializing from time to time,
forced into it in an effort to recoup
my first small shortage. In two subse-
quent transactions with the stock
brokers I lost sums constituting the
$4,000 shortage found at the bank after
my arrest. These loses I now thor
oughly believe were forced upon me
by dishonest, fraudulent methods on the
part Of those brokers with whom I
had dealings. When I was on the
right side Of the market and the market
would go several points against me,
with ample margin, they would force
me to close it by making a demand
for exOrbitant and unreasonable mar
gins.
ITO meet these demands and to save
the money had already invested, more
money was each time taken from the
bank. and as with the shortage on
the $500 check carried in the clearing
house totals. Had these men been
more reasonable, and not employing
questionable means, even in stock
Speculattons, upon one of no more ex-
perfence than myself, I would not have
been in this position today. Twas on
the right side Of the market both times,
and if I had not been robbed, the bank
shortage would have been made good.
me, had hopes of recouping my losses.
Several days before my graduating exer-
cises l realized l must be absent from the
bank at least three days to keep with
my class at the university. During my alb
sence 1 knew the $1,000 shortage would be
discovered. and l knew not what course to
pursue. When | saw the possibility of dis
covery I devised the means of opening the
account in Jacksons name at the First Ma
tional bank a possible method Of evading
the disclosure by system of Exiting"
checks. This, If successful would keep the
shortage from the knowledge of the bank off,
Gals until | could graduate. Jackson knew
L was specializing, but had no knowledge but
that l was using my own money. On the
morning the First National bank account was
opened | telegraphed him that 1 would like
to see him at my place of employment. He
came to the bank; and asked him to open
an account at the First National in his
name and gave him $685. of my own money
with which to do this.
AT my request he signed several blank
checks which 1 could fin IN any amount
desired. This perfected my plans for a sys-
tenn of check ''kiting'' by which I hoped
to prevent discovery during my. absence at
the university. 1 then learned that it would
be impossible to kite the checks through
the clearing house for more than two days
and as l would be absent three days I real
lied with feeling of despair that my short
age would become known. Had l been even
at this stage successful in my speculations
which 1 still counted on, the $13 900 would
have never have been taken from the bank
AS was saw discovery hanging over me
and the thought occurred to me to take the
money, which I knew would be placed in
my cage for the paying teller. and meet the
$4,000 shortage in the clearing house totals.
II had, in my despair no desire to take
any greater amount than would cover the
shortage. Had 1 intended to steal 1 could
have easily taken $50 900 or $50, 000 as 1t
was as readily secured smaller amount.
1.-The opportunity to take the money came
accepted it, and with the assistance of
another, it was carried from the bank. This
second party was neither George Jackson nor
my brother Louis Jackson knew absolutely
nothing of the robbery, and Is as innocent
as has been proven by his discharge, as
though 1 had never known him. AS to my
brother. l solemnly declare he was not my
accomplish in any way. He is unjustly ac-
cused. and indicted simply because he is
my brother, and a possible means Of
forcing me to disclose the identity of my
assistant"