The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1905-05-19

sets is as follOWS:
Furniture '"Oo' O00
Horses Observation-Disclosures. S'UOO
carriages m COO
Books OBSERVATION-DISCLOSURES. 10'0W
House NEUTRALITY-SUSPICIOUS.. 1''oo0
Methods of the Looters.
Little by little the details of the
manner in which Bigelow and his &C
completes worked are coming out, and
to-day for the first time it was re-
vealed how the steals were discovered.
The first dip into the banks funds, it
is said, was made only ,hree months
ago, since which time Frank G. Bige-
low has undone the enviable career
he had been 80 years in building. The
first false entry was late in January,
on the same day that 100000 was
sent to a New York depository. The
amount covered by the false entry was
100000.
Assistant Cashier Coll and two
bookkeepers, whose names are with
held by the bank officers, handled the
books in which the reserves were re-
corded. This ring was established by
Bigelow with a promise, it is said, OF
reward to all connected. All the
funds for reserve were directed by
Bigelow. In the three months, it is es-'
timated, from casual examination, just
about one-half the amount shown by
the entries was RENTED to the de-
positories in other cities.
After the first shortage in the re-
serve funds, the system became more
complicated. The mails which brought
the regular statements and the &C
counts from the repositories were care
fully watched and held out from the
regular course of business, and it is
said that Coll now has the package of
correct statements on his person.
His Business Connections.
And this man whom reckless specu-
Iation has led to criminal acts, has
sacrificed wide business connection
and influence, for not only was he
president of the First national bank
of this city, but he was identified with
the:
Bankers National association.
Northwestern Mutual Life Insurance
company.
National Electric company.
Milwaukee Trust company.
North American company.
Wisconsin Telephone company.
Milwaukee Chamber of Commerce.
Merchants and Manufacturers asso-
citation.
Socially he was a member of the:
Milwaukee club.
Town club.
Country club.
Deutscher Athletic club.
Positions He Has Held.
He has been a:
Receiver for the Northern Pacific
railway.
Commissioner of public debt.
President of the Bankers associa-
ton.
Candidate for United States treas
urer.
He has:
Three daughters-Mrs. Bernard Beck
er, Mrs. Arthur N. McGooch and Miss
Elizabeth Bigelow
Four sons-Gordon, Tom, Garth and
Lester.
His wife is one of the sweetest, most
lovable women of the city. His home
life was ideal, his charities were most
extensive, his personal habits most
exemplary, his love for the highest
and best so marked that he has al
ways been spoken of as good man."
How then in five months, with honor
high perched on his name, could he do
what he has done?
The Dramatic Exposure.
Breaking the news of the great bank
looting was attended by dramatic
scenes.
When Charles F. Pfister, the Duke
of Milwaukee" called his IL fellow
directors into the secrecy of a room in
his hotel and told them, the financiers
were struck almost speechless and re-
fused to believe it. Pfister was the
first director to learn of the defalca-
ton.
A minor clerk, whose identity has
thus far been concealed, went to Mr..
Pfister's residence late Friday night.
Pfister had retired and the servants
refused to awaken him, but the clerk
created such disturbance that he
finally was awakened.
Something is wrong at the bank"
said the clerk to the millionaire. 81
have worried about it night and day
for week. cannot be silent any
longer"
'Why haven't you told Mr.. Bige-
low" inquired the disturbed million
aire, referring to the trusted president.
Because ! believed somebody above