The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1906-08-14
WRECKED
BANK CASE

closures developed in connection with
the ruined Milwaukee bank today.
1t was learned on the night of July
Is, the night of the disappearance
of Stensland a farm wagon was en-
gagged to take trunk from the Stems
land home in Irving Park at midnight.
The police are now making a search
| for this wagon and it's driver believ-
ing it will lead them to the place of
the missing bank president, who is
now thought to be hiding within a
few miles of Chicago.
Coupled with a statement made
this afternoon by Inspector Shippy 10
the effect that Theodore Stensland,
vice president of the bank, and son
of Paul o. stensland, the missing
president may be implicated directly
In some of his fathers schemes and
| that his part in the deals was not
| wholly innocent.
FARMERS WAGON.
The inspector admitted that his
men were trying to trace the missing
farmer who backed up to the Stems
] tohN hohhC o1 July I'D anu
into whose wagon was loaded trunk.
Was it money or was 1t clothing and
such effects as would be needed by
the fugitive during period of hiding
] that was in the trunk is the question
that is asked.
| At meeting of the directors of the
institution held at the home of Marius
\ 1.lx hxr % .,,ks n
president of the First National bank,
and e. A. Potter, president of the
American Trust and Savings bank.
were present the offer to take over
the business of the defunct insti-
tuition was made.
Mr.. Kirkby said after the meeting:
Mr.. Fergan, Mr.. Potter and other
bankers were present at the meeting
and proposed to take over the busi-
ness of the bank just as soon as the
examiners were through with the in
vestigation if we were willing. They
offer to pay the depositors dollar for
dollar and reopen the bank, and es-
tablishing it on sound basis again. .
| The "forgers' nest, wherein was
Matched the ruin of the Milwaukee
Avenue State bank, was unearthed to-
day by Assistant States Attorney
Harry Olson in his examination of
Cashier Haring, arrested yesterday.
He discovered two bulging envelopes
containing several hundred bank
notes with forged signatures and sew
eral hundred completed notes amount
ing to several hundred thousand dol
lars; also said to be forgeries.
CASHIER ADMITS GUILT.
| A sensational late development to-
day was the announcement by Attor-
ney Frank D. Comerford that Herring
admitted to him that he WAS guilty of
uttering forgery. The specific in
stance was that he had cashed a note
bearing the signature of M. A. Labuy,
knowing 1t was a forgery. Herring
gave the money to Stensland.
While the scandal was widening
word came from Madison, Wis, that
the police had become confident of
Stensland's arrest soon.
Detective Larson who is in Madi-
son, was informed by long distance
telephone by Inspector Shippy that
the arrest is certain Larson has
| started for Chicago.
Madison is the starting point of the
important clew which is expected TO
result in the arrest of Stensland. He
and Cashier Herring went to Madison
week ago Wednesday from Slough
ton, Wis, according to three persons.
VINO nave since positively identified
them from photographs. The two
men attracted attention in Madison
at the time.
200 BLANK NOTES.
High police officials stood aebast
and Herring turned pale when from one
of the envelopes Mr.. Olson drew forth
more than 200 blank notes to which
signatures were attached. 1t was dis
covered later that the signatures had
been traced over signatures to good
notes which had already gone through
the proper channels in the bank
This discovery laid bare the method
followed by the forger in his mad
pursuit for gold.
The notes were found hidden in
President Stensland's private vault. It
was explained by Cashier Herring that
whenever ready money wan needed
one or more of the blank notes were
filled out and deposited in the bank
to some account. If to Stensland's ac-
iount, then the president would draw
out cash and charge 1t to his account
which had been swelled by the notes
In the other envelope were found
about 200 notes properly filled out
but which it was declared are forger-
les. Herring called the attention of
the authorities to the fact that sig
natures were in blank ink while the
amounts OF the notes were written out
in blue ink.