The representative. [volume] (St. Paul, Minn.) 1893-1901, 1898-09-07
ANOTHER BANK BROKEN.
4 Leading Republican Goes to Smash

PRESTON. Mimi, Aug 26.-As new deuel.
Opments are presenting themselves in the
Fillmore county bank failure, the people
or Preston are amazed beyond description.
1t has just been learned that a bank at
New Richland. Mimi, failed yesterday.
claiming that the cause of their failure
was the fact that the Fillmore county bank
mad $4,000 of their money to loan for them
Mr.. Clemens, of La Crosse, was president
OF the Fillmore county bank, until about
five years ago. when 1t is claimed he with
drew and about that time he started the
recently defunct bank at New Richland
From letters found in Mr.. Todd's private
desk, it is found he has been in constant
correspondence with the cashier of the New
Richand. bank, and that the cashier had
made many visits here to see Mr. Todd
The people have but one theory of the
whole matter that is, that all the money
has been dumped into Mr.. Clemens hands,
who lives at La Crosse. Mr.. Todds last
visit to La Crosse was last Saturday night,
and in fact all his visits to. La Crosse
were night trips. The liabilities are in
creasing all the time, and now footing up
to $4,000. with but SIS cash and $3.50 in
small notes as assets. Committees have
been appointed at various times since Mon
day to see Mr.. Todd and get statement
from him where the money is, but he will
not reveal to any one. A warrant was
sworn out this afternoon for his arrest,
and he will have a hearing at D. m
when Mr.. w. E. Todd of Albert Lea, ar
rives. Yesterday Mr.. Todd wrote the fol-
lowing telegram to the general superintend-
ent of the Chicago, Milwaukee & ST. Paul
railway which was not allowed to be sent.
however:
Il am in trouble and want to get to some
quiet place to live: I only have enough
money to support my family for three
months. Please send me pass for nv.
self and family" 80 ''"'''''''' '''
bol
with this bank he having retired five year.
ago. -. -
PRESTON, Mimi, Aug. 26-M r. Todd.
cashier of the wrecked bank at this Mace
was lodged in jail yesterday evening. Ar
one time In the forenoon a mob gathered
with the avowed intention of lynchinr
Todd. but Sheriff Blexrud hastily swore in
a posse and this display of force and the
persuasion of the cooler heads ut,ieted fhe
crowd. The streets fear the bank were
crowded with people all day, however, and
they dispersed only when Todd was landed
in Jail. The deputies held the crowd ba cA
while Todd was put into a carriage and
driven rapidly away. Todd's only state
ment is that he has lost the money at diff
terent times. The defalcation now foots
up $4,000. and the indications are that the
total will reach $150.00O Todd presented 9
CHASTITY appearance and could scarcely walk
across the space from the bank door to the
| carriage.
The assignment Monday by Todd is SAID
| to be due to his disastrous speculation il
the wheat pit on the Chicago board III
trade.
A committee has made a hurried exam
| nation Of the books of the Preston bank
and found them a tangled-up mass of ir
regularly kept accounts. The state had !
deposit of $500, which will have to b,
paid by about ten bondsmen The bank
| has about 1890 of school money, abou
$500 of the village funds. and about s., 10
of funds belonging to the county.
We have been told for years past