The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-09-04
Fugitive Banker Relates History
of His Downfall.
HE NEEDED THE MONEY
Began by Borrowing Cash ON
His Own Note.
Could Have Taken Quarter OF
Million But Didn't.

Chicago. Sept. A cable dispatch
10 the Tribune from Tangier says
Paul stensland's confession, made to
Assistant states Attorney Olson yes
terdav. clears up much of the mystery
surrounding the events leading up to
the crash which involved the ruin Of
the Milwaukee Avenue bank. He took
much of the blame upon himself, but
declared Cashier Herring was the forg-
. er and that Herring got most of the
money. He exOnerated his son, Theo-
dore. and the bank directors. He de-
ciared it lie that he had spent any
money on Leone LangdOn Key or any
other woman He declared that he
never spent more than $4,000 year
himself and that all the money he
stole he put into real estate or invest
ments in the hope of making good
In his heart of hearts. he was glad
he was no longer a wanderer on the
face Of the earth.
WHY" said he, think of signing a
name not your own. 1t is worse than
stealing 1 did not know it would be
so hard to be a fugitive"
you have not been found guilty
yet: you have chance to make a
fight in court was suggested. stems
land laughed and said: II know what
Chicago jury Will do to me. / know
Chicago Juries."
Stensland told of his thoughts of a
fight in Chicago. He decided first to
kill himself. but postponed the act till
dawn and with the sunlight came the
primal instinct to hold on to life and
flight won over death.
His preparations were hurried He
had surrendered his life insurance
policy for S5S,O0O and had received
$4,000 as commission on the sale of
certain property and drew $1,500 as
salary from the Mount Olive Cemetery
association. This was all the money
he had taken with him.
why, with a million dollars cash in
the bank. did you not take more ~
IT could have taken a quarter of a
million dollars without trouble, said
he, but I did not want to- / never
took one cent of cash from the bank
snd put it in my own pocket. never
took dollar belonging to other peo-
pie
When stensland boarded the train on
the start of his flight. he tainted. On
board ship he was again stricken and
for four days was on his back. In his
first few days in Tangier he was far
from well.
Steusland made no attempt to deny
his guilt, but he was surprised to learn
that the total loss involved in the fall
ure would reach $1,000 600 He said:
II can not understand how the short
age can be $1,000, 000 To my certain
knowledge my liability to the bank does
not exceed $500. 600. Anything over that
must have been stolen by Herring.
My Indebtedness began long while
ago, in 1895. It was a small affair. a
small amount, and God knows never
intended to steal. I was in a tight hole
and needed money. I put my own note,
genuine. not a forgery, in the bank
Then IT was suggested TO me that the
bank examiner would stand for it, and
he did"
Who suggested it2~
Herring 1t was the beginning. He
pointed out that it was easy to obtain
money that way. Then, when my own
notes became too numerous he suggest
ed the forgeries"
And you acuuiesced2 %
es. First he tempted, then he urged 4
and 1 fell Ever after that I was abso-
lutely in his power. He owned me,
body and soul"
How many Of the forgeries did you
do yourself?"
Not one Herring. [ think did all.
Cashier Herring was Allied with bit
terness today when he read the state
ment cabled from Tangier in which
SteHsland accused him of being the
author Of the ruin of the bank Herring
denied this with much energy and
teilefatec his statements of yesterday
"a which he declared Stensland led
him into the trouble, instead Of biS
leading Stensland