The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-26
MILWAUKEE BANK IS SAFE.
RUN FOLLOWING DEFALCATION
rs CHECKED.
Clearing House Committee Announces
That the Institution Il SOlvent-Day's
Deposits Exceed Withdrh Wals-Autho Or
tics Hunt for Assistant Casiier Coll.

That the Institution u SOlyent-Day's
Deposits Exceed NithdraWals-Author'
ties Hunt for Assistant Cashier Coll.
MILWAUKEE,, Wis, April 25.-The financial
] crisis resulting from F. G. Bigelow's defal-
cation Of s., 300, 900 Of the First National Bank,
/ appears 10 be over. The run on the bank s
( fun 8 which started yesterday continued
! to-day. but was checked at noon when the
last depositors left. The thirty day rule on
savings and time deposits is being enforced
and confidence has been restored. Over
5000 600 was placed at the disposal Of the
bank to-day and the deposits during the day
were far greater than the Withdrawals.
Bank Examiner c. II. Bosworth Of Chicago,
who was sent to Milwaukee by the Comp
troler Of the Currency, arrived early to-
day and proceeded at onoe TO his work, which
will probably occupy him several days.
Mr. Bosworth could not be seen.
The following statement was issued to-
day:
The clearing house committee Of thN Mil
vaukee Clearing House Association has "N.
amined carefully all the assets and collateral
Of the FIRST National Bank Of Milwaukee.
and A. a result Of the examination are salts
Ned that the F'rst National Bank i perfectly
solvent and able 10 pay all its depo'itor@.
At noon the run, il it could he said to
have ever reached the proportions Of a
run, ended and the bank resumed its usual
appearance. entrance 10 both the bank
proper and the savings department being
free and without obstacle. The reassuring
announcements, especially the statement
Of the clearing house committee, did much
TO quiet the excitement The untiTing
efforts Of John |. Bangs, who worked in
cessantly among the crowd making short
addresses to the people, was an important
factor.
One Of the most spectacular happenings
Of the morning was the action OF Mayor
Rose in walking down Wisconsin street in
full view Of the crowd with men carry ing
$500 900 in currency and gold in CanNah
bags. He was surrounded by policemen
and detectives and walked into the bank
with the treasure. This money was part
Of the shipment from Chi, ago banks and
some from other Milwaukee banks. The
city has over $500 900 and the State $500 600
in the bank which will not he withdrawn.
No trace has yet been found Of Henry G.
Coll. assistant cashier of the bank and IL
is supp = q that he has left the city, United
States Marshal Thomas B. Reid has made
every effort to obtain clue on his move
ments. but without success. The Nilwau-
kee police force is cooperating with the
Federal officials, and the Secret Service
force in the entire country Is watching
for the missing man.
Developments to-day brought 10 light
an effort TO commence state proceedings
against both Bigelow and Coll. A con-
ference was held between United States
District Attorney +. G. McGoveTn with
this action In view. II il felt that the
marsha's force Is doing all in its power
TO catch Coll, but the marshals office has
not such facilities with which 70 work az
the State Department possesses.
But the question Of Jurisdiction may pre-
vent the State Department from taking any
action along this line. The fact that the
bank IL a Federal institution and comes
primarily under Federal laws and regula-
lions has made the State Department
hesitate in attempting 20 extend its juris-
diction.
That there was deliberate plot to rob the
bank and that G +. Bigelow and II. G. Coll
were at the head Of the conspiracy oan no
committee to-day convinced itself that with !
out assistance Bgelow could not have car /
RED on his transactions.
When amounts we're Withdrawn for de-
post With Chicago and New York banks
as reserve funds they we're pOCketed by
Bigelow and charged against the hanks.'
Another method was 10 double on the books
the amount Of bills for collection and dcu
the amount Of the payments thereon bigc-
low retaining the amount in excess Of the
real sum paid out and fixing the books /
TO correspond with the fictitious sums so
secured. BY this means he and his assoc /
ciates were able TO secure from the bank /
large amounts on all collections
Slili ar other method was adopted |
When Bigelow desired to draw out sum |
Of money draft OF check would he drawn !
payable 10 a Chicago bank. When the nc 7
count Of the Chicago hank would come I
back IL would DO % KID by Cashier Coll, I
and the bookkeepers who were in tho trans /
action would see that the proper entries /
were made upon the books 10 hide the |
transaction.
Charges are being made on all sides that |
Gordon Bigelow's wheat decls caused his |
fathers ruin. Young Bigelow has lor g |
been a plunge for years he has figured in |
enormous speculRtions, and rumors bave |
usually had II that he Lost These IDEAS |
have lnng been town gossip. but his fathers /
enormous wealth was rever Questioned. /
r. a. Bigelow was asked to-day II Gordon's /
deals had dragged him down. He denied |
they had and said they bad nothing 70 do !
with any Of his ansactions.
As said yesterday all my aheirs In no |
way involve my family. and nobody else |
am TO blame
Gordon Bigelow would not be seen. While |
BiRelow Il assuming ell blame for the !
crash. il Is charged by bis friends that he |
ia not alone and that Gordon Bigelow's |
Io..os dsd rY,tfch 70 drag him down