Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1906-08-13
Total Amount of Defalcation of
Stensland and Accessories
Is Enormous
EXAMINERS REPORT READY
First Official Figures Will Be Given
out soon-state Bank Examiner
jones Admits the Amount of the
Shortage Will Be Close to Million
Dollars.


bank examiner, in report he will
submit to the state auditor today, VIII
say the Milwaukee Avenue State Bank
was pundered of from 100000 to ST.
600 900 Mr.. Jones is authority for this
statement. In an interview given yes
terday afternoon he said his report
would be complete and on its way to
Springfield before tonight.
He added the report would be complete
save for the losses sustained on the
collateral on real estate. 1t is impos-
sible to determine the losses on this
account as it would be necessary to
present every mortgage and every note
with real estate behind it, in court and
have the signatures tested.
The figures OF Mr.. Jones are the first
of an official character. Others have
been given, but they have been based
on the words of those engaged in the
investigation and were in the nature of
estimates. The bank examiner has had
every facility at his command He has
had possession of the books of the
bank and has had clerks at his beck
and call. He is familiar with the books
of the ordinary bank and he is certain
his figures are near correct.
Denies Charges of Delinquency.
Several paragraphs of his report will
go to serve as defense against those
charges which have been hurled at
him. He will deny there were notes
that bore no signatures save that
made with rubber stamp. He will
state the sigma lures of firms were made
with these stamps while the sigma
ture of the individual borrowing the
money was written beneath in ink, as
the law requires. He also will deny
that loans were made when a number
was the only signature to identify the
borrower. In his report he will state
these numbers appeared only on the
individual memoranda of Paul Q.
Stensland, and were the ordinary
memoranda employed by bankers.
The interest in the failure of the
Milwaukee avenue institution was not
on the wane yesterday. Hundreds of
depositors gathered about the building
and compared their financial condition
to that of one week ago. Thousands
gathered at ST. Johns CantacuZenes
church. congregation composed al
most exclusively Of Poles, and de-
manded the return of the money they
had intrusted to Father John ROgal-
ski the priest and who in turn had
intrusted it to the bank. One OF the
most peculiar runs in the history of
financial institutions was threatened
by them.
Demand Money of Pastor.
The authorities of the church have
been in the habit of conducting a
savings bank, where any member of
the congregation might deposit his
earnings. The priest was in charge
of the fund and it had reached $4,000
in st. Johns church.
The members of the congregation
became imbued with the idea all of it
had been intrusted to Mr.. Stensland
and the closing of the bank meant
they would never see it again. They
threatened the priest with violence
and he was compelled to address them
from his residence and later from the
pulpit of his church. He explained
but $4,000 had been placed in the
defunct institution. He added he had
$1,000 in his possession and would
pay all who demanded the return of
their money.
He continued by saying the arch
bishop had authorized him to mortgage
the church until he had sufficient
funds to meet all demands. 1t is not
believed there will be a rum on the
church bank this morning, but if there
is Father Rogalski says he will have
the currency in his possession to
meet it,