The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-24
s(oLi NOW HELD
,,,.,t II the Globe National
d trouble
,,xEp WITH ENTERTAINMENT
.,,eses Ni.appproprin-
~ .mounting to Three
~, =. thousand po'l"r''

IMAGES Misnppprop
- Amounting to Three
"a. =. rsou.and p0''"r''
". c.l,, December ss.- c,.s.
s ,,'a.rly president :, of aa the G TsSe
MI at hotel , in this m .e'ty,
I charged in a complaint a.,ls n a,,,h
s,rI.tion and emoeaz'en'A' "
Z tout counts n,..u,,, A..
,oceived a letter fDm the
nDs .sv at Boston asking that
into custody upon a charge
s-,,tlon of the funds OF the
''''ss,I'' bank, now in the hands
s.r United states Marshal
,,.saed to the hotel where the
81 staying and learned that
\ ii I'D gone to the Red0ndo. Mr. VIZ.
u accompanied Osborne 70 ms
..,n,np place at the Redondo,
J, co,e was informed that the
rthorlties had requested his de-
mr. Cole agreed to the return
,,,o,es and dlsclaimed any III.
- r's desire to escape. He stated
Z. s,mily visited California Tor the
= Mrs. Coles health. He as
~ oiacer that he would make no
~ avoid the serving of the
" later Mr.. Cole stated thar
IL long incumbency as presideh,
~ nione National bank there mad
.,.r,osns but these he had made
s'm Ms personal property and this
y. .s'I demonstrate. He intends TO re.
I, ,ustice 10 himself, TO answer all
Ind disproye or explain them.
~. .uhstantially all that the banker
A I'd concerning the case. He mas
f.,issaI advice TO safeguard his In
,coIs.s son seemed astonished at the
E,iIou and declared that he knew
M concerning his fathers affairs aud
M authorized 10 speak for him, say
Nj me only explanation he coIlc
n the bringing of his father intt
|nsa was that the securities he had adj
u. ia cover the overlcans had beer
Ered insufficient by reason of stool
Euticps. He stated that his fathel
N copper mines in Utah.
4 warrant had been served by tn
4 United States officers at late. hou
afternoon. After his first state
Il regarding the arrest and his con
tisr With the Globe National, Mr.. Col
zsa 10 be interviewed and spent tn
ID bis apartments. Mr.. Cole wa
rhent Of the Globe National bank 70
by years, but resigned about tire
d go.
cstcn. Mass, December 23.-Until tn
Is vas received here today of the arres
E.aondo, CAL, of Charles II. Col,
ns'ly president of the Globe Nationt
Il u this city. It had not been know
The United States authorities ha
p any action In that direction.
b developed that the warrant had bee
VI during the forenoon by Unite
ts Commissioner Fiske. on a swor
cement by Special Examiner Wing, act
fnier order OF the comptroller OF Il
ffHty The warrant charges embei
nert on four counts. The aggrega
ault involved is 100000, the sums
'tNo and 100000 being mentioned
respective counts.
.aniner Wing refused to make know
nature OF his investigation which lie
eoes arrest. Bankers, however, wi
Y ben In touch with matters cor
'ea with the Globe bank, say tn
Nas are not hard to find. The bank
s alies date back far beyond last NJ
ssl, when Mr.. Cole resigned. Ear
november the directors decided tn
w loans had been made on tern
aaeied unsatisfactory. These loar
Y sss'eloped, had been made largely
y transactions i'll which PresideI
I was, was associated with Edward A. Clai
William Coolidge. The dealings we
y 10 United States mining and Unit
" OIL and certain coppers and t
WY o. loans aggregated $1,000. 900. {
.ueas!n OF these facts the directo
\ Mt. Cole to resign and he wit
y president November 16, havil
'.ssu with the directors that he a
.0l'eagues, Clark and Coolidge won
wy Inc loans. additional security
esposlted with the bank.
.a.efs understood when the diffic,
~, !, me bank first came to light tt
I, Iasoleaness of 100000 to the cleari
n aao been found. This, it W
-. ~, was not the banks account,
~ borrowed in the name of the bal
~, slount, 1t Is ALLEGED, did not
issi ne books of the bank, but pass
~, ss.'uuai accounts. 1t also was l
~ Ivy among those acquainted with
~ situation that this sum v
,ssa In the $4,000 indebtedne
!. .4'sp oy Mr.. Cole and his associa
u ~ retired from the presidency
@,utut!on. Recent declines in G,
ts1roed settlement and last W,
ak found itself EMBARRASSED q
NJ !" ask aid from the Boston Gle
I ~. association. The clearing no
sHsa'uiaay advanced $3.50O,OOO and
.ougnt no further trouble would
'r'saced. Early in the week, howey
~ aepositors began to withdraw til
y; ,sl ~ and in a few days more Il
N, was taken from the Globe
n Dank' This proved too great
= c snd being unable to secure furt
comptroller Dawes was advised
,"uauon and the bank was orde
~ lrst intimation the general pu
c,ss mat there was anything al
4 1--WE banks affairs which might
NJ arrest was received yesterday /
II. OF the. creditors OF the John
~ = smpany. H. w. Chaplin, the
". y me firm, stated that the ind
4 o. the corporation to the G.
snnss ~ osen misrepresented aud n
, ~ almost double what It re
phls =. chaplin today said that
NJ mad been known for some I
i ~ Will the bank had been close
!. >vasldered unWisa for husiness