The Irish standard., 1905-04-29
EXCITEMENT At
milwaukee ENDS
BANK DEPosIToRs REASSURED
AND CONDITIONS ARE
AGAIN NORMAL.

BANK DEPosIToRS REASSURED
AND CONDITIONS ARE
AGAIN NORMAL.
POLICE SEEKING FOR
THE MISSING CASHIER
Every City in Country Notified to
Watch for Him-Payne Heirs and
Others May Lose Through Bigelow
Defalcation.
Milwaukee, April 27.-The excitement
in banking circles caused by the defalca-
rion of Frank G. Bigelow, late president
of the First national bank Of this city,
has entirely subsidized and business has
again assumed normal conditions.
There was total absence of any de-
positors within the region of any OF the
banks prior to the opening of the doors
for business Wednesday. The deposit
ors who for two days clamored for their
money at two of the banks were given
reinsurance from SO many sources OF
the soundness of the institutions affect
| ed that the excitement died away al
most as rapidly as it had sprung up.
Seek Missing Cashier.
| Interest now centers in the capture OF
the former assistant cashier, Henry G.
Coll, who is believed to have left the
city. United States Marshal Thomas
b. Reed had enlisted the services of the
city police, and Chief John T. Jansen
has notified the police departments in
every large city of the country to look
| out for him. The authorities are conf
dent of effecting his capture within a
| short time.
Payne Heirs May Lose.
There are rumors that several large
estates are in Bigelow's hands and the
heirs are fearful that he has used their
money as we'll as that of the bank. The
estate of the late Postmaster General
Payne was in his hands, he being an
executor without bonds. An examina-
| tion is now being made to determine ii
his defalcations have been confined to
| the bank.
Personal Fortune Gone.
| The story that Frank G. Bigelow has
! turned over stock in an electrical com.
pany to the amount of 81, 800 900 to his
| wife is untrue. 1t was stated at the
First national bank that the stock was
| turned over to the bank some .i1ae ago
| by Mr.. Bigelow as security for loan
| A director of the bank stated that as in.
ivestigation of the banks affairs goes or
facts are revealed which 80 to show that
| the defaulting banker spent his entire
I personal fortune before tampering with
| the banks funds.
Cannot Plead Until Indicted.
According to the federal procedure. d
prisoner cannot plead guilty or not guilty
jury. Frank G. Bige!ow will not, there
fore, appear in court until the grand
| jury has considered his case. Assistant
| unitsd States District Attorney T.. j
Hennings says that in all probability
only one indictment can be returned, but
that there may be Il number of counts
in separate instances. The grand jury
is called by the United States district
! Judge, while the date has not been set. il
is understood that it will be about the
middle of May.
State funds amounting to nearly hall
a million dollars will not be withdrawn
| from the First national bank. This con.
cusion was reached after conference
between state officials and local bank
ors Tuesday. The state officials, il is
said, were given a complete statement
regarding the finances of the bank. Tho
state bank examiner, 1t is understood
also conferred with National Bank Ex
aminer Bosworth.
Controlled Big Estate.
Kingston, N. Y, April 27.-Frank G
Bigelow, the defaulting president of the
First national bank, of Milwaukee, is al
executor Of The estate of the late L. H
Br0adhead, of Milwaukee, and formerly
of Ulster county, this state. Mr. Broad
head left an estate which is estimated by
| heirs here to have been worth 81 ,0OO, 900
and it is understood that its securities
are under the direct control of Bigelow
The Kingston heirs include the family
of John c. Broadhead, and they are now
asking that an investigation be made
to ascertain whether Bigelow has made
improper use Of any of the Broadheat
trust funds. Julia A. Chaffee il Mil
waukee, is also an executor of the Broad
head estate.
Comptroller Will Not Interfere.
Washington, April q. Comptroller
of the Currency William B. Rdgeley
who has charge Of national bank affairs
talked with treasury officials Tuesday
about the defalcation of Frank G. Bige
low. president Of the First national banl
of Milwaukee, Mr. Ridgeley expressed
the opinion that in the present case II
would not be necessary for his office tc
interfere and take charge Of the bank
as it was a wealthy institution, with &
large surplus and still larger fund of un
divided profits. In addition, Mr.. Ridge
ley pointed out the directors of the banl
are wealthy men and have guaranteed
that everything will be all right in the
protection of dcpOsitors and others do
ing business with the bank. The comp
troller said that as long as the bank is
solvent, as the iirst national is, there
is no occasion and no authority for his
office to interfere except to report the
dcfalcation to the department OF justice
which would prosecute the offending