Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1904-07-12
LOOTS AURORA BANK.
CASHIER JACOB H. PLAIN AD-
MITS TAKING $50. 900.
German American National Institu-
tion of Aurora, ILL.,, Victimized by
Embezzlensent of Trusted Employe-
Money Lost in Speculations.

Ninety InOuSanQ collars mas Deen
embezzled from the German-American
National Bank, Aurora, H., and Jacob
81. Plain, cashier, has been arrested,
charged on his own confession with
having taken the money. Three years
reckless speculation carried on with
the banks funds while he was known
in Aurora society and business circles
as Honest Jacob" is given as the
cause Of Plains downfall. Confront
ed with the facts of his defalcation,
the cashier admitted it promptly, turn
ing over what property he had and
telling in detail in what deals he had
lost
Notice of the embezzlement posted
on the bank door at first was not be-
heved. Plains reputation induced
bank patrons TO consider the notice a
joke. When crowds later surrounded
the bank, the officials prepared to meet
run" After announcing the en-
bezzlement the notice read:
Thirty thousand dollars of the to-
tai embezzlement by Plain has been
made up by John Plain, his father, and
NJ. e. Plain, his brother Eight thous-
and dollars has been turned over by
the defaulter himself. The balance of
the $90,025 loss has been charged off
from the surplus and undivided profits.
leaving the entire 100000 capital
stock Of the bank unimpaired.
7 I
to live my life over again l would
shun speculation as l would fire.
was ruined as thousands of others
have been ruined, without an evil
thought in the world"
This is part of Plains confession af-
ter he had been arrested. First sus-
picion of the embezzlement was
aroused five weeks ago, although for
three years Plain by a system of re-
cording fictitious notes, or notes that
had been paid but not destroyed; by in
Guiding in the banks assets bonds
owned by depositors and by manipu-
lating the adding machine at the BIZ
ennial examination of his accounts
had been Systematically robbing The
bank.
He was under $4,000 bond and is
the son of the banks president. Since
May "a, when the defalcation was dis
covered, bank officials have been busy
Strengthening out the accounts. That
day Examiner G. H. Bosworth visited
the bank. After footing up a column
Of figures Mr.. Bosworth turned to
Plain and said: Jacob, there's some
thing wrong here"
Plain, pretending first not to under
stand, finally admitted the crooked
ness
There's $4,000 short here, and
maybe more" said Plain. Then he
showed where SO, OPS more was miss
ing Finally by his own directions it
was figured out that he was SCOOPS
short. Directors held a hurried meet
ing, at which the father Of the cashier
begged that his son be spared dis
grace. NJ. E. Plain, another son, was
made cashier. Later it was found that
it would be impossible to avoid pub
llc1Iy. 1FeSluenI Ildlu SdIu ne WAS
willing that public statement should
be made.
Ambition to become LANDED pro-
prietor" in Colorado was the aim Of
Plains speculations. Everything
went wrong" he said. Plain, who is
as years old, declared he never gam
bled at cards or bet on horse races.
His trouble began he said, seven years
ago when his wife died. The first
money he took was to pay for land at
Sterling, Col Three years ago his
speculations began. He lost $4,000 in
a corn deal This was followed by
loss of $4,000 in the Northern Pacific
corner. Speculation in United States
Steel stock, he said was his final I'M
doing. steel looked like a good thing"
he said. Il bought it at 40. 1t went
down to H. / guess / lost $4,000
there"
AS a colonel in the Illinois National
Guard from 1893 to 1898 Plain served
on the staff of Gen. Andrew Welsh of
the Third Brigade.