The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-01-29
BANKER HUNT is INDICTED,
CHICAGO PAN-ANERICAN FAIL
URE CAUSE OF ARREST HERE.
Receiving Deposits I'm Ins0ivent Concern
and SBO,O00 Shortage Charged
Prisoner Has Private Hank In New
OrlS--"InternatiOnal" Trouble Echo.

william II. Hunt, banker, OF OIL Wall
street, president of the Pan-American
Banking Company OF 1856 Dearborn street,
Chicago, was a prisoner In the West Side
court yesterday. having been arrested on
a telegram from Supt. O'Neil of the Chicago
police, which stated that Hunt had been
indicted for the embezzlenent of $50, 900.
He was held until Monday and Magistrate
Barlow fixed bail at IS, 600. which was
supplied by Frederick E. Mills. The Pan
American Banking Company's doors we're
closed on Thursday.
Mr.. Hunts lawyer, Julius Seymour,
would not permit his client 20 DISGUISE the
case yesterday.
mfr. Hunt" said he, SIS reputable
private banker, living with his family at
PSI West Ninety ninth street While his
arrest 81 unfortunate. il Is easily explained.
The banking laws Of Illinois are far more
stringent than those OF this State. Bank
officers are liable 10 arrest IL deposits are
accepted after it is known that the institu-
ton is insovent Nr. Hunt did everything
that he could to avoid the failure Of the
Chicago bank"
Mr. Hunt. he said. had been UP the State
trying TO borrow money to aid the bank,
but he had not started West because
he had not succeeded. The lawyer de-
clined TO give any information regarding
the liabilities or Assets OF the bank.
When asked II Hunt would fight extra
dition. Mr.. Seymour replied that his client
had no idea OF hiding from justice. He
foresaw no trouble for or from depositors
in the private bank Of William H. Hunt in
this city.
William II. Hunt. as w. Hill Hunt, was
head Of the international Bank and Trust
Co. the $4,000 corporation when went
into the hands of q receiver III this city IN
December 1908.
lied under the laws OF West Virginia, and
the Pam American Securities Co. were, it
1t said, the outgrowth of the reorganization
OF the International
The capital stock OF the Pan American
company was $500, 900. of which $50 900
was paid in. IL had branch Offices in
Mexico
Later in the day Mr.. Hunt gave out a
typewriter statement in which he said
that the resignation OF two directors caused
a withdrawal of deposits from the Pan
American Bank. He came East to redis-
count paper in order TO furnish cash TO
meet the run. He expected TO telegraph
ample funds from New York on Thursday
night. but was unable 70 get here untu
1890 Friday morning. He said;
There have been no defalcatious In tho
bank. no rnisappropriatioh Of funds, and the
story Of the embezzleTnent ofsse, 900 ie based
solely upon the Illinois statutes which pro
vide that any hank receiving deposits after
the officers are informed OF the insolvency
are guilty OF ernbezzlement.
The bank. to the best Of my knowledge
aud belief, was solvent the day 1t closed
and every day that IL has transacted busi-
ness
CHICAGO, Jan. 2s.-One charge against
William H. Hunt is receiving deposits,
knowing that tho bank with which he was
connected was insolvent Another charge
is that OF embezzling $4,000. The name
OF the complainant Is Victor Durell. Hunt
was indicted by the Cook county Grand
jury late yesterday. States Attorney Healy
announced to-day