The Kalispell bee. [volume] (Kalispell, Mont.) 1900-192?, 1900-11-20

thing of a Napoleon in finance and
that he stood a good chance of Sc
curing the presidency. Then Jew
EFT. went to them with proposition,
an. they bought him out paying
handsome bonus.
The success of his first deal in
bued Jewett with greater confidence
and secured him more money from
his hacker. On hrs suggestion a
syndicate was formed whose object
was to wreck banks for profit. Jewett
was the prime mover
His first field of operation was the
Pemberton National bank which he
entered in the same way as the Me-
thuen bank, going so far, however,
as to become its president. The
Pemberton bank was an old one and
had big surplus. He wrecked It,
and, according to all accounts, clear
ed for himself $l5O,O0O.
While president of the Pemberton
bank .Jewett started the Arlington
National bank in the same city. This
bank is now one of the most solvent
institutions in the country. 1t was
started by .Jewett with 100000 For
directors he secured Congressman
Knox, Joshua Higgins and Franklin
Butler. He made himself pres-
dent. Jewett never put up dollar
of his own money in the Arlington,
but he was the most active agent of
the institution. He quickly secured
mills and merchants, drawing from
his old acquaintance who were de-
positors in the Pemberton bank. He
appointed Albert f. Butler brother
of one of the directors, cashier.
The young Butler is described as a
gOOd-natured, homes, cOnfiding ind-
vidual. 1t was not long before the
president of the Arlington National
bank hat his cashier badly mixed in
his accounts. Jewett had access to
the money. Butler found himself
count for the shortage he appealed
to Jewet~ for hep.
Jewett did help him, but as But
Ter continued to become more in
volved, his pride and fear of dis
grace drove him to suicide The
cashier shot himself. and the family
blame Jewett.
Ihe directors of the bank by this
time were tired of Jewett. They tried
to get rid of him on the preteXt that
he could not be president of the Penn
berton and Arlington banks at the
same time, and do credit to both.
However, he would not be forced out.
Finally they bought him off.
No sooner was JeWe, out of the
Arlington bank than II was found
that he had been quietly been buy
ing stock in five other banks. These
were the Windsor National bank of
Vermont the Edgartown National
bank of Vineyard Haven, the Essex
National bank OF Haverhill, the Lake
National bank of Wolfboro, N. H., and
the Amesbury National bank of Ames-
bury, Mass. In every case he sue
ceeded in having himself made pres
ident.
The Edgartown, Essex and Ames-
bury banks were worked on the same
lines as the Arlington bank in Law
renee, and each bought Jewett off at
a big bonus. He met his Waterloo in
Wolfboro, N. H., when he wrecked
the Lake National bank.
The wreckng looked like a gold
mine for Jewett, but i. proved gold
brick, for the surplus, although nom
inally large, represented securities all
but worthless. When he took the
Lake bank he borrowed $4,000 from
the Arlington, giving as collateral 100
shares of the Lake bank. He after
ward pledged 25 more shares for this
note. This stock was assigned in
, blank, but the assignment was not
recorded, and Jewett admitted that
{ in October, 1895, he made oath that
, he owed the Arlington National bank
this $4,000. The Arlington bank
never received cent of dividends
on account of the 125 shares they
held, but he appropriated everything
for his own use. then, after liqui-
dating the Lake National bank, he
, appointed himself liquidating agent
and stole the banh.
The warrant for Jewetus arrest was
, sworn out on the complaint of Fred
: l.. Leighton, cashier of the Arlington
. bank, four years ago. On that in
dictment Judge Brown in March, 1899
sentenced Jewel, to seven years i'm
5 prisonment and now he has reaffirm-
Inl hot pnytn