Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-12-19
MANY RUINED BY DEFAuLTER.
Indiana County Treasurer Case Ex-
ample of Ruin in Wake of Dishonest

ample OF KUN IN wake OF Oisnonest
Official.
Logansport, Ind, Dec. 19.-The de-
falcations of Elder Frank Obenchain,
treasurer of Cass county, have proved
so much more extensive than at first
supposed that they now threaten not
only the bankruptcy of his dozen
bondsmen but the financial ruin Of
three or four business firms.
They have already caused the APP
pointment of receiver for the Misk-
linen Furnace company, of which Ob-
enchain was treasurer, and brief run
on three local banks was only averted
by the alacrity with which the cashiers
heaped gold upon the counters and
paid all corners.
There was muclr sympathy for OBJ
enchain, who was believed to be the
victim of selfish friends, but it has
changed to wrath among his bondsmen
when 1t was diclosed that in addition
to having shortage Of $4,000, which
the records show he advanced to prl-
vate firms and individuals. Obencha1n
had a further shortage of $4,000, when
he now is believed to have taken with
him when he fled.
His bondsmen will confer on Wed
nesday to consider offering $4,000 re-
ward for Obenchain's arrest. They nS-
ure that If he can be brought back anu
induced to aid in untangling the county
finances, they will save double that
amount. Expert accountants will begin
work on Oberchain's books on Mon
day. The impression prevails that the
books have been juggled ana that the
| 4
Feared to Face Accounting.
| The bondsmen say that the sndica-
lions now are that Oberchain began to
inappropriate money within a few
weeks after he took the oath of Office
four years ago. The disclosure came
about in checking up the books prepar-
atory to handing over the office to
owen McGreevey, a young republican
elected to assume the treasurership OH
January 1. Knowing an accounting 10
be inevitable, Obenchain disappeared
on December /, saying he was going
to indianapolis to attend a banquet OF
the, Mystic Shrine. From indianapolis
he telephoned his wife that he was go
| ing to Martinsville to a sanitarium.
| The bondsmen sent messenger to
Martinsville and found that he had not
been there. They promptly took charge
of the office and installed Joseph Guth-
RE, one Of their number. Obenchain
was located in Indianapolis on the day
Guthrie took charge. Since then he is
alleged to have left the country.
Sent Stenographer Flowers.
Since his disappearance his friends
have located Miss Kittie OFT at In
dianapolis, who admits having received
from him boxes of flowers. She alleges
/ that he told her some months ago that
because of stenographer here who
was in love with him and threatened
to expose him he would soon have 70
fee the country. His relatives believe
other women helped him spend money
and are seeking clews in that direc-
ton.
| An injunction against the county
commissioners is threatened. The tax
payers claim that suit to recover Oben-
cnain's property should have beer
brought by his bondsmen, and not at
the expense Of the county he defraud-
| ed.
] Some OF the attorneys retained are
Oberchain's bondsmen, and IL Is al
legged they are to receive more In ices
than the amount they Will pay tht
county in making good the shortage.
The extent of his defalcation was
at first believed to be $o4,ooo, account:
ed for by real estate he had purchaseo
and loans made to various firms, FOL
which he had taken stock IN exchange
The stock is appraised at about one
fourth it's face value. The bondsmer
hope to realize $4,000 from 1t. Inc
real estate is worth $4,000. But tne
report of Auditor o. G. Gard, filed late
on Saturday, disclosed even greater
shortage. 1t was found that obencha1r
was charged with s137.s4S, and tha'
cash on hand, including a receipt Iol
| $500 paid the state, aggregated $ol,'
900. This made the shortage nearly
/ s75,S5O. The result was panic among
the bondsmen.