The Saint Paul globe., 1905-04-25


Premium on United States
Investment securities -. siS.0S2. 81
Cash and due from banks -. 5,17T.Si0. .0s
Liabilities-CapitaI ...... 1900, 900 90
Undivided profits ........... S49'S2S 10
GEIIcuIatlon '................ $4,000 90
deposits ACKNOWLEDGEMENTS. 1854, ,94S. S4
Total .................... s1s, So, ,271. IA
President Bigelow's defalcation
amounts to about $1,450,000, but he re-
stored 100000 The directors have
subscribed S1.6S5,O00 more, thus leav-
ing the bank better off by about S4OO,-
GOO than it was before the funds were
depicted by the peculations of the
president
SIgeIow Loses Three Millions
Bigeiow himself is left a poor man by
ms peculations and the surrender of
the securities to the bank today. At
one lme he was personally rated as a
milllonaire and this fortune has been
lost as well as the sum taken from the
pank His total losses in speculation of
various kinds in two years are esti-
mated by his friends at upwards of
-$5,O0O,OO0- He has magnificent home
on Astor street and his family is one
OF the most prominent socially in the
city: Bigelow is a member of the state
bankers association, the American
bankers association. the Milwaukee
cruz the country club, the whist club
ana other similar organizations He
mas been known as one of the most
generous donors in the cause of charity
ana mas been favorite with all classes.
he is Frustrated by the whole affair.
ana although he appeared at the bank
during the early hours of business ha
fetlred 10 his home at noon and re
| NAMED there awaiting the appearance
OF the United States marshal with the
warrant for his arrest.
In addition to his banking interests.
MT blgelow was at the head of several
large manufacturing concerns Recent
~ ne with others began a suit for the
| recovery of S5,00000 paid for a patent
AIR brake device, which it was alleged
III the complaint was worthless. He also
promoted an enormous electrical COM
Pany that mas extensive works in this
city ana is interested in several other.
concerns of similar kind He declined
10 say today whether these had inn
pared his capital. He issued this
statement:
L nave no excuses to make I do
hot care TO speak of motives which
mad and had no right to have. The
pig men among the directors of the
pank have come forward in a way that
snould give absolute confidence to the
community, and they are deserving of
the highest praise. There are no bet
Ter men III any community and no
stronger men financially, The hank
VIII be better and stronger than eyer
My family has been kept in Ignorance
| or the conditions, and their method of
liVlng is not TO be laid UP against
| them"
Put Forth by Directors
LATE today the directors issued the
| following statement:
nile the directors can saw no
| word of assurance so far as the per-
| sonal aspect of this unfortunate case
| goes, they feel that 1t is their DUTY as
citizens OF Milwaukee and persons di-
| rectly interested to assure the public
| that the First National bank is in an
absolutely solvent condition We make
this statement because there is a pos
slbilty that many people may thought
| lessly confound what is a personal
matter with the standing of the bank,
which is one of the great financial in
stitutions of the Northwest"
Trace Is but Faint
1t is reported that Assistant Cashier
Coll was seen pacing up and down the
sidewalk in the vicinity of the Chicago.
q North Western depot this afternoon
and it is surmised that he may have
taken train out of the city.
The Milwaukee Trust company.
through its president, ]. H. Van Dyke,
| and its vice president, Robert Camp,
has issued this statement:
The Milwaukee Trust company is in no
manner involved by the defalcation of
F. G. Bigelow nor will the financial
trouble of the First National bank in any
way involve the Milwaukee Trust COM
pany. F. 6. Bigelow has been director
OF the company, but the board of directors
OF the trust company have discontinued
him as such, and he has no connection
with the company. The trust company is
the demands of all depositors and credit
ors of whatsoever kind.