Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1902-08-27
ANDREWS Is GUILTY.
DETROIT BANK wREcKER is CON-
VICTED.
He Got Away with 81 STD, O0o-Money
Believed TO Have Been Lost in Stock
Speculation Plunges The History
of a Sensational Case.

Believed to Have Been Lost in Stock
Speculation Plunges The History
of a Sensational Case.
Frank C. Andrews, former viee-presi-
dent OF the Detroit City Savings Bank,
has been convicted Of footing that insti-
tuition of S1,576, 900, wrecking the bank
and sweeping away the savings of hun
dreds of persons in moderate or poor cir
cumstances.
When the verdict was announced An
drews became deadly pale. It's a ter
ror," he gasped. 1T is unjust. l never
intended y defraud or cheat anyone. God
knows it."
The trial had been in progress four
weeks. Recorder Murphy gave the ease
to the jury at noon and a verdict was
reached at 1;15. but was not brought in
until 2 O'Clock. Only two ballots We're
taken. The first stood ten for conviction
and two for acquittal, but the latter two
soon Joined the majority.
Attorney Kirchner, representing the dr.
PENDANT, Immediately moved for stay
in pronouncing sentence, announcing that
an appeal would be taken. Recorder Muir
ply granted a stay of sixty days to per-
NIT the taking of an appeal.
Lived in Fine style.
s few months before the crash came
which swept away his fortune and left
him in a felon's cell, Andrews was one
of the richest and most prosperous men
in Detroit.
He lived in magnificent style in a house
On Woodward avenue, which cost him
N. h. mis- sss,sa
he owned stock in half dozen banks,
in several electric railroads and in num-
eroas valuable properties, was the vice
president of the City Savings Bank, con-
trolled leading newspaper and was the
treasurer of three trolley lines.
Wfthin six months he had lost every
farthing of his wealth, and to feed his
passion for speculation had robbed others
of very nearly S2,000,000.
Rise Was hidden.
Andrews career is an illustration Of
the proyerb concerning the beggar on
horseback. He was born about thirty
years ago in the little town of Romero,
Mich, and until 1890 his ambition had
not enabled him to rise above a elerkship
in a country store.
In 1890 he went to Detroit with 50 in
his pocket and secure Job as a clerk
in a real estate firm. His push, his tire
less energy and his inordinate love for
work won him quick promotion, ana at
the end of his first year Of service he
! had $4,000 in bank.
Then he went home. married his sweet
heart and returned to Detroit to begin
real work.
At the end of the two years Andrews
had cleared $4,000 and was still win
ring. He was placed at the head of the
loan department of the real estate firm
and began his third year in Detroit as a
fuii partner in the house.
In 1893 the rising young capitalist and
financier first felt tie fever Of specula-
tion which was ultimately to prove his
ruin. Thus far he had wisely invested
his savings in bank stock, and was now
a power in the financial world of Detroit.
His fortune waxed larger and larger, I'M
til in 1900 he had acquired so mucn of
the stock of the City Savings Bank that
he succeeded in getting himself elected
yice-president. The president Of the
bank was Frank c. Pingree, a brother OF
the late Hazen Pipgree, but the actual
management of the institution was large
ly in the hands of the daring young finan-
cier from Romero.
Methods We're Open.
Andrews had by this time proved him
self a successful Spectator, and he was
open in his advocacy of that method Of
getting rich. He speculated freely, bet
on stocks with the GOODNESS of veteran,
and, as was generally believed, won
some millions in his ventures But the
day on which he was drawn into the bet
ting on Amalgamated Copper stock was
the beginning Of his downfall
The banker played copper heavily, and
by degrees he added property after prop
erty to the burning pile. His railroad
stocks went, then his real estate, then his
home, then his stock in the banks of 9TH
er cities, and finally he saw ruin staring
him in the face.
One day in January last President Pin
gree took little trip to New York to
be gone a week or So The first day
that Andrews was left alone he overdrew
his ACCOUNT at the bank for 81 ,000.0 600
and cashed worthless checks for $500. coo
more.
Then came the explosion, but the buoy
ant young fnancier did not seem to care.
He was cheerful in his prison cell, and
did not worry about the mean things said
of him in the papers. Although he had
many friends before his f,ll. it was only
with the greatest difficu r that he secur-
ed bondsmen for the $40 ft0 at which his
bail was fixed.