The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-04-28
TO SAVE SON.
The Father Embezzled
a Million and a
Half Dollars.
ATTEMPT A FAILURE

Milwaukee, Wis, April 24.-Follow-
| ing the arrest late this evening OF
Frank G. Bigelow for embezzling
million and half of the funds of the
| First National bank, 1t developed that
! this greatest financial blow that has
ever been struck to Milwaukee came
! through the effort of father to save
the business reputation of a son. The
son, Gordon B!gelow, of Tracey G. Co.,
brokers, of New York and Chicago. is
not saved, and the father faces long
prison term, although the shortage has
been made good by directors of the
bank.
Frank G.. Bigefow, president of the
First National bank and former pI esi-
dent of the American Bankers Asso-
citation, was arrested at his home on
Astor street at 5 o'clock this afternoon.
The warrant, which was sworn to by
United States District Attorney But
| terfield, was served by United States
Marshal Reid in person. The banker
and his family were about to sit down
to dinner, when the officers and
crowd of newspaper men from Mil
waukee, Chicago and surrounding
cities arrived. There were no formali-
ties except the reading of the warrant.
On the way down to the Federal
building Mr.. Bigelow talked, though
with some reserve, about his troubles.
ut is the old story" he said. "It is
not unlike that of the small clerk who
borrows a S. bill from the till of his
employers to bet on the races. He
thinks he is going to make tidy sum.
But. alas, he loses, and then he bor-
rows $40 to get even. He gets further
and further in, always hoping to make
the grand strike, settle all and quit his
gambling"
Mr.. Bigelow refused to confirm the
report that he had been carried down
by the speculations of his son, Gordon
Blgelow, of Tracey G. Co. and also re-
fused to confirm the report that he had
been involved in the Gates attempt to
corner May wheat. but he would not
deny that May wheat and the big
slump of Saturday and today was the
cause of hisIruin. ''." '''7a
Henry Coll, assistant cashier Of the
First National bank and the man who
stood between the president in his de-
falcations and the board of directors is
missing He is accused OF manipulate
ing the books so that Bigelow's steal
ings were covered up. He was last
seen near his home at Cass and Mason
streets at noon. He was pacing back
and forth until about time for North
western train to Chicago. About train
time he was seen to run toward the
station.
When Mr. Bigelow was taken before
Court Commissioner Bloodgood, his
bond was placed at $4,000. This was
merely nominal for a man who has
controlled millions of money for the
leading capitalists Of Milwaukee, and
there were score of people anxious to
go on the bond of the man they are
more than willing to continue to show
confidence in. A. N. McGeoch and
Dr. Horace M. Brown qualified, and
within five minutes Bigelow was again
free.
The directors of the bank are amply
able and willing TO make good the
shortage.
Mr.. Bigelow made the following
statement: 81 do not w!sh 20 try to
excuse my action at all, nor to say
anything about motives had no right
to have. The big men in our board
Of directors will make the bank better
and stronger than ever, and they are
entitled to all praise and confidence.
"My family has always been kept In
ignorance of conditions and has not
been to blame for methods of living"
Mr.. Bigelow has transferred to the
bank all his available assets, real es-
tate, securities, etc, to the amount of
about 100000, leaving the deficit about
81, 100000, or just about the amount of
the surplus and undivided profits of
the bank, which at the time of the last
statement was 81, ,143,323.
Mr.. Bigelow confessed the defalca-
tion Saturday night. The directors
took charge of the bank Monday morn
ing. Mr. Bigelow was deposed as pres
ident, and the directors signed an
agreement loaning to the bank the sum
of $1,635, 900, thus placing it's solyency
beyond question, 1t is believed.
How long Mr. Bigelow has been rob-
bing the bank is not yet certain. He
L.. oil
few months. Some Of the directors
doubt this and think the thefts must
have covered a much longer period.
His method, as he explained 1t to the
directors, was to take the cash, and
with the assistance Of certain en-
ployes, falsify the statements OF
amounts on deposit in Chicago and
other banks.
The disclosure came the last Of the