The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-05-05
-SPALDTNG IS INDICTED
Bills Also Returned Against Four
of His Associates.
GLOBE SAVINGS BANK COLLAPSE.

The Grand Jury Takes Action After Prob
ing into Matters-Ihe senate Committee
Winds Up Its Investigation at Chicago
and Adjourns to Meet at Springfield,
Where the Testimony VIII BE summed
Up--A Senator's Views.
Chicago, May 4.-These men were in
dicted late Saturday night i'm connection
with the failure of the Globe Savings
bank: Charles w. Spalding, president:
A. ID. Avrill. vice president; Charles T..
Churchill. cashier; w. Berry Erwin, as
sistant cashier; Allison w. Harlan, di-
rector of the bank and a surety on the
bond of Spalding as treasurer of the
University of Illinois. In all eighty
nine indictments were returned. Spald-
ing was indicted on thirteen counts for
the embezzlement of the university
bonds, on one count for the embezzle-
ment of university cash and on fifteen
counts for receiving deposits contrary to
law. The other men were indicted on
fifteen counts for receiving deposits con-
trary to law. Spalding will be required
to furnish bail in the sum of $4,000 and
each of his associates i'm the sum of $15,-
900 in order to remain out of Jail.
State Officials Scored.
1t is reported that the grand jury dis
cussed the failure at length, scored the
state officials who failed to take prompt
measures TO protect the public when
they knew Of the condition of the banks
affairs and recommended that a care
full investigation be made of those feat
ures which will enable the state to mete
out justice and secure the punishment
of certain insiders who are said to be
responsible for the collapse and as guilty
as those whom the jury decided to in
dict.
Mr.. Spalding spent Sunday in Jail, a
large portion of the time being devoted
to conversation with his son. He re-
fused to make any statement regarding
the indictment. and intimated that he
would make no attempt to find bonds
men.
Senate Investigation.
a. H. Avrill vice president Of the COL
lapsed Globe Savings bank. who was to
have been the first witness before the
senate investigating committee, which
| is probing the affairs of c. w. Spalding,
| did not appear Monday morning. Mr..
! Avrill was detained on account of hav-
| ing to furnish bonds on his indictment
| by the grand jury. Miss Blanche Nc
| Connell, who has been acting as Spald-
| ing's stenoGra pher since Miss Erwin
| gave up that position, was the first wit
| ness before the committee. She came
| to the Great Northern hotel before 10
| o'clock, and waited nearly half an hour
| before the committee convened. George
| r. Hayden, eX-state examiner, was sub
| poenaed and came before the committee
| in the afternoon. Ex-Governor John p.
| Altgeld also gave his testimony.
VIII Meet i'm Springfield.
After Mondays session the committee
| adjourned to meet in Springfield. There
the testimony. which has been given
will be summed up. If the committee
| then sees fit to summon any more wit
| nessses another session will be held In
| this city before the final report is made
Senator McKinlay, in speaking of the
work of the committee, said:
| Il think we have got evidence togeth-
| e. which will be of great use to the state
| in any litigation which may be brought
| for the recovery of the endowment
bonds In my opinion Spalding's attor-
neys were very unwise in letting him
| go on the stand at all. He did nothing
| but incriminate himself"