The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-08-09
OFFICERS PURSUE
FLEEING 1 J BANKERS [
.Defalcatioiis Said TO Amount TIL
at Least d Million
i.3 Dollars. 55si.#
PRES DENT1's SON REPAY
Three Hundred Thousand ollarsI
Removed from Vaults for II
Safekeepitig.

(ByiAssccinted press 4

(I3y Associated Press.) III K 5ss5i VI SsS5
1 tll CH1CAGO, August ,-.Theodoro STEMS.
lund, Vice president Of * the suspended
milwaukee, Avenue state Bank, and son
of the president OF that Institution, has
CONC to the rescue OF tho ~, 90 deposit.
tors, ana tonight II is the general belief
OF those who Sarc endenvorlng to straight
en- out the affairs of5 the bank that there
is n1l excellent chance for ill to receive
almost dollar for dollar when o final set
Element Is made. President stonsland to-
night announced that he 9Would withtfull
authority turn over to Receiver Fotxer
Tomorrow oil the real estate and per-.
sonal property Of Paul o. stetisland, his
father. The son places n vnlua ton OF
100000 on this collateral. vi 5;iI.
Defaulters Still at Large.
Paul Q. stenslund + president, and Henry
vs. Herring, cashier, IRE still ut large
While a thousand dcposltory shouted their
protests this afternoon, 100000 was ro-s
moved from the vaults OF the failed In u
tstltution to that OF tho National Bank
OF the Republic, where It will be held for
safckeeping until noxts Tuesday, 81 Ewhen,
tits said, distribution to the dcp2sitorB
will Begin The removal OF the IN oncy
put tho crowd III mn angry mood. and AZ
took many policemen TO keep the excited
lthrong from upsettlng the patrol Wng ons,Y
which wcre filed with bueconts as a
5bodyguard FOR the treasure wagon.
Theodore stensland. who was q rrested
yesterday onsa warrant charging him With
violation OF the banking laws OF Illinois,
appeared in court this Afternoon. 5 BY 1
agreement, the hearing was postponed
until August 18th. d rs GA 6 NJ 3iS9 III
Criminal Acts U earthed.
j58 Conclusive evidence has been unearthed
by state Bank Examiner c.. Cs$J Jones that
Paul Q. Stcns1und has been guilty OF
highly criminal acts in ID conducting the
business OF the institution Of which he
Is the head @ n
This was officially announced by Mr..
Jones q to- day. Henry w. 8s Herring. the
missing cashier, who was declared to
be an elnbezzler oflarge sums OF money,
Is being In a measure exonerate cd. because
OF tho lack OF direct proof against him.
! sworn out the warrant |. for
MIR stensland yesterday. said Mr.. J Jones
to dny, ~ I was perfectly assured l$of the
criminal ii nature OF Il tho $Y acts OF which
the banker Jas been guilty. 4 gal nst Mr..
5Hering81 have no direct evidence.
cannot say as yet precisely how far the
frauds operated By Stensand have been
carried but 1t IS to IL great length that
Is proved by! papers already brought TO
light ~ i9 " NJ rs. sss Il VIII S$
Pursue Fleeing Cashier.
Mr.. Jones confirmed statements that
the frauds amount to- over 81, 900 900.
E5D detectives were sent to. n Michiga to-
day 5in pursuit OF Henry W. Iderlng, the
fugitive cashier, who Is said to have been
seen there. I'LL fssl "a. 81
E Receiver Fetzer said to-day lie was be-
ginning rigid 5inyestiga OF the,
forged notes In corporation wi Exnm-
inerf 10 es 1T will be three or four days. !
said Mr.. Fetzcr, before he can get an
adequate idea OF the situation. Fl % said |
persons who alleged their signatures TO;
have been forged would be required to
furnish absolute proof. ~ 81