The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1905-04-25
LARGE SHORTAGE.
Bark Prssident confsssss to DefaicatlIn
Of Over Million Dollars.

AEIiwaaxee. April z5.--Frank @. Bige-
low. until Monday president Of the
First National bank of Milwaukee. was
arrested. charged with the embezzle-
ment of over 100000 OF the banks
funds The arrest OF Mr. Bigelow fol-
lowed his confession to the board OF
directors that he was defaulter to the
extent of sf45o,oo0. Following Mr..
Btgelow's confession be was removed
from the presidency OF the bank, and
the facts OF the case were laid before
the Federal authorities.
The complaint was sworn to by Unit
ed States District Attirney Butterfeld.
1t charges that Bigelsw, as president
OF the First National bank. embezzled
a sum exceeding 100000 A complaint
and warrant identical with those I'm
Bigetow's case were made out to Henry
o. Con. assistant cashier Of the bank.
President Bigelow was before United
States Commissioner Bloodlow MONDAY
night de waived hearing, and was
held to the Federal grand fury under
N-"sNFN ''t41Ns III II ~ tjIDNn ana
A. N. McGeoch certified az securities.
and Bigelow was released
The announcement of the dafafcation
was followed by rush Of depositors
to withdraw their money from the Wis
consin Trust company and the First
National bank. the Wisconsin Trust
company being the savings department
or The bank Many thousands of dol
lars were withdrawn. but on the other
hand. large number of people having
confidence IN the institution increased
their deposits. Arrangements were hast
ily made 20 meet the run.
President Bigelow's confession vas
Hade at special meeting of the board
of directors Saturday evening and con-
tinued Sunday and all Sunday night
Ia addressing his fellow directors Pres
ident Rgelow said he had painful
statement to make. a confession that
ne had inlsdrectea the funds Of the
bank. aud an examination Of his books
ana a comparison Of figures show that
ne was Indebted ~ the bank 10 the
amour. Of over 81 $50. 600 This money
ne said had been lost in Speculation in
wheat and stocks Not a dollar Of II
could be recovered and the only sum
he could offer toward concentrating
the bank was his personal securities
valued at approximately $500 .oQo.
When the Federal marshal called n
the BigeIow residence 10 serve the war
rant the former hank president was IN
The library with his wife. Mrs Bigelog
refused 20 withdraw. ard the warrant
was read ir her presence
I'm he ready 10 80 with you nj once ~
said the banker Then he kissed his
wife an afectinate farewell ard left
with the officer. the two walking Ia
the Federal building. where court
commissioner was In waiting None Of
Mi. B'geiov's friends were In TIE ci,Irt
room during the brief proceedings.
When the resolution was adopted re-
moving Mir Bigelogg from the preslaen-
CT OF the bank Henry Coll asgiatan Mt
cashier was also removed The rernov-
al 81 the assistant cashier was due "a
the statement OF MFR Blgelow that no
was aided by Con In concealirg the |
shortage in the banks accounts
The method adopted was an old one /
Collection accounts were manipulated |
- the extent Of 90 and I'm some cases |
90 peC cent To make il appear that the |