The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-10-20
HOLDING Up ABANk
DISHONEST EMPLOYEES TRYING TO
ESCAPE PUNISHMENT.
EmbezzIed. specuIated and Lost, Then
Deliberately stole All the Money
in the Institution.
POSSIBLY 100000 TAKEN
BY TELLER SMITH AND BOOK
KEEPER SWIFT, OF LOWELL,
Who Are Said to Have Committed the
Theft for the Purpose of Forcing
the Bank to Make Terms.
CONFESSION OF ARMITAGE
MESSENGER WHO ROBBED THE
BANK OF NEW AMSTERDAM.
Woman Named Marie, n Roadhouse
Frequenter, Alleged to Have
Stolen His steaIings.
CONFESSION OF ARMITAGE
MESSENGER WHO ROBBED THE
BANK OF NEW AMSTERDAM.
Woman Named Marie, n Roadhouse
Frequenter, Alleged to Have
Stolen His SteaIings.

LOWELL Mass. Oct. 19-Business at
the Merchants National Bank. from which
Teller Alfred c. Smith and Bookkeeper
Lewis X. Swift are missing, opened briskly
to-day, but there was no indication of a
run President A ]. Pollard said this MORN
ing that there was change in the situa-
tion and experts are still working on the
books. but the officials decline to state the
amount missing from the funds.
President Pollard. when asked about the
missing men, would only say that they
were stiH absent Mrs. Smith. wife Of the
teller. admitted to-day that she had re-
ceived a message stating that her husband
would not return home. She refused TO
tell where the message came from. 1t was
stated during the day that lawyers have
been retained as counsel for the missing e
men, with power 10 negotiate a settlement,
provided there shall be no prosecution for
any deficiency in the funds of the bank. AS
TO this matter the bank officials refused TO
make any statement.
The information leaked out later in the
day that the young men had been specu-
Iating and had lost heavily. Realizing that
detection must come, and in order possibly
to secure immunity from punishment, it is
claimed that on Thursday night the men
went to the bank vault and took all the
money there deposited. This, it is said.
placed them in a position TO compel the
bank TO make terms. This seems to re-
sembIe former bank defalcation here in
which the deliquent took all the money he
could find in the bank. and, with the late
b. r. Butler as counsel, made a settlement
and escaped punishment The bank officials
would not express themselves when told
the shortage was reported to be between
$4,000 and 500, 600.
The bank opened and closed its doors at
the usual hours to-day and nothing out Of
the ordinary occurred 10 interfere with
its business. A slight depression I'm busi-
ness was noticed. however, and inquiries
respecting balance were more numerous.
but the run for which the directors had
prepared did not materialize- The bank
had money enough TO square accounts with
all depositors. The only information of
the proba BILE loss was given this morning
by one OF the directors, Charles j. Lilley,
who. when asked as TO whether or not the
report that the loss was $4,000 was likely
TO be an exaggeration, replied that he be-
lieved it would turn out 10 be so. Tonight
the loss Is thought to be even greater than
that amount however, the continued ST.
lence OF the directors being construed as an
unfavorable Indication.
The whereabouts of Smith and Swift may
be known 10 their wives, their lawyers and
the directors of the bank, but all efforts
upon the part of others TO trace them have
proved unavailing. The cities of Boston
and Montreal are the places most men
toned in this connection, but nothing of a
definite character has been found. The
houses OF the two men in Lowell are under
constant surveillance by the police.
At meeting of the banks directors to-
night the affair was fully discussed, but at
the close OF the meeting the directors were
unwilling to make any statement