Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1905-05-03
A LOW AIM.


happens that when man prominent
in finance goes wrong, the full truth
comes out in the first reports. Rea-
sons for this are obvious. The rami-
flying moves of man laboring un-
der strain and seeking to avoid dis
closure that means ruin, make it hard
to follow the trail back; and, more
over, there is the natural disposition
on the part of conservative business
men to tone down as much as posi-
BILE the first accounts, that the shock
upon the community may be lessened.
Hence, although the report that Frank
G. Bigelow, president OF the First Ma
tional Bank of Milwaukee, was a dc.
faulter in the sum of $1,5O0,O0O, was
news that staggered all who read it,
later developments show that only
half the truth came out. Mr.. Bigelow' S
total defalcations will run much heav-
Ter than this. The full amount may
reach $3,O00,OOO.
management of great bank, and
whose name appeared on the boards
of other large companies, as the
Northwestern Mutual Life, the Mil
waukee Electric Railway & Light
company, besides a number of less
prominent corporations. Additional
to this he was trustee and administra.
tor and had the handling of much
property in mortmain, including that
of the old Brodhead estate and of the
| late Henry G. Payne, recently post
master general. The Payne estate is
found to be little affected, if at all
but Mr.. Bigelow owes a round sum to
the Brodhead estate. Additional to
the $1,5OO,O0O due the First National
of Milwaukee, there are five other
Milwaukee banks with claims for con
siderable sums, three New York banks
and one in Chicago and one in St
Louis, the aggregate of this Other
bank Indebtedness being $4,000. A
amounting to SG6,000.
Mr. Bigelow's private accounts arr
found to be in state of confusion
that, to those who We're familiar with
his methodical mind, appear at frs
almost inexplicable. The reason, how
ever is not hard to find. Bigelow was
specializing and there were man!
things that it was dangerous to com
NIT to writing even in memorandum
form, least some one should acciden
tally see them and discover the sec
ret. Hence grew the habit of carry
ing large affairs in mind only. Lat
terly circumstances forced him to re
veal his secret to three men in hi
own bank, and he must have realize
that discovery was question of tim
only. This feeling no doubt prompte
the last desperate plunge for recon-
that would make everything square
1t failed and utter ruin is the result.
The case is highly interesting 70
many things that ordinarily come
light after such a crash are not fOun
here. Bigelow was a gentleman. N
wine or women affairs appear. II
was devoted to his family. His HON
, represents a value of $40,0OO-not e,
travagant for man in his position
It's furnishings, including a few goo
pictures and collection of choic
books, approximate 100000. Not on
! thing about his private conduct c
his home life betrays anything BIT
, the admirable. Ambition gained tn
9 mastery and led him on until it wa
, too late.
J.. But what wretched failure he ha
q made for himself and for his fan
q ily With a legitimate income stuff
: cient to provide not only every con
fort. but every luxur, that reaso
, could ask for, he was willing to jeO
ardize all that he had, including h
o good name and the honor of his fan
o lily, in the hope, not OF adding an
thing that was needed, but simpl
p that his overmastering greed for mo-
, ey and the power that money give