Omaha daily bee., 1906-08-08
BANK BOXES LOOTED
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committee expressed their belief today that
both Cashier Herring and President Stems
land are in Canada.
rumor that Theodore Stensland had
also disappeared grew today out OF his
failure to keep an appointment with off,
cials Of the police department and search
for him was instituted.
Judge Brentano OF the superior court to-
day appointed John c. Fetzer receiver for
the closed bank The bill OF complaint
filed in court alleges acknowledgement by
officials.
Women Secure Receiver.
The appointment Of a receiver was OBJ
talned by two women depositors Of the
bank. who hold claims against the in
stitution aggregating less than $500. The
court was told that there were more than
10000 persons who have money deposited in
the alleged defunct institution and that
most Of these creditors are people of little
means and VINO know little or nothing
about business methods. Charges were
made that the officers OF the bank have
taken with them large sums Of money
belonging to the institution and the court
was asked to summon them to appear
before him in the event that they can be
accounting Of the money said to be in their
possession.
After further consultation with Assistant
Chief of Police Schuetler and Inspector
Shippy, Justice Severson decided to issue
the warrant for the arrest OF President
Stensland The complaint was signed by
Bank Examiner Jones and alleged viola
ton Of section 25-A OF the banking act,
which refers specifically TO receiving de-
posits after knowledge Of insolvency is
had by banking officals.
The court fixed the bond OF Receiver
Fetzer at 100000 The police department
today sent broadcast throughout the
United States a message giving a descrip-
ton Of President stensland and asking for
his arrest The message is as follows:
Look out for and arrest for violation Of
the Illinois state banking law, Paul P.
Stensland, about IS years old, Ave feet nine
or ten inches in height. blue eyes, about
shaved his beard and has smooth face
He IL stout built and wore when last seen
a light suit and straw hat. He is light
complexioned tending to sandy. He was
last heard from at Duluth. Send all in
formation . to Chief of Police Collins.
INSPECTOR OF POLICE sHIPPY.
David r. Forgan. president OF the First
National bank of this city. today called
'1nhuman' the circulation of stories TO
the effect that small depositors of the
stensland bank will lose all of their saw
ings. II am prepared to say that no mat
ter how much bad paper is found there"
said Mr.. Forgan, the depositors will get
at least 65 per cent and maybe 70 per cent
of their money"
There is over 81 200, 900 in cash avail
able now and that is more than 80 per
cent of the savings account 1 am pre-
pared to say, with my information, that
more than 75 per cent will be available"
Stockholders May Pay.
The largest stockholders of the bank
held a consultat ton today and decided that
II an assessment Is necessary they will be
ready to make the payment. The Illinois
law calls for an assessment of 100 per
cent on ALI state banks IN case the assets
Of the bank are insufficient to meet liabili-
ties This will mean that there will be
$780, 900 cash Immediately available. .s..
Detectives for the American Surety COM
pany are searching for the missing presi-
dent and cashier. s. 8. Hartshorn. chief
Of the surety company's detectives, said
! today that the. company held a $4,000 bond
on Herring, which runs to the corporation
and not to President stensiand personally
I'VE are seeking both OF them" said
Hartshorn. But can't understand how
the hank could have been plundered for
so large an amount and the directors know
nothing about It,"
| Chief Of Police Collins this afternoon
denied report that President stensland
is in Chicago. He said he knows where
Vice President Theodore stensland is and
could produce the vice president when 1t
became necessary. -..
safety Deposit Box Robbed.
Mrs. D. Herman, "a Sangamon street.
complained this afternoon to Inspector
Shippy that the contents of her deposit
box in the safety deposit vaults of the
suspended bank had been tempered with
and 1855 taken. She was greatly excited
when she went to the police station and
made her complaint. According to her
story she had placed $500 in three en-
velopes in the safety deposit box which
she had rented until 1907
Mrs Herman said that when a clerk
opened the box where the money was she
found that an envelope which should have
contained $3.50 was empty and that S1I5
had been extracted from another envelope.
. StensIand Not I'm st. Paul.
ST. PAUL, Aug. III Paul o. stensland
is still in St. Paul at any Of the hotels, he
II living lllcIo hiAuNl OH oSouLltu
The clerks at the Ryan. Frederick and
Merchants hotels, when asked IL Stensland
was at their respective hotels replied that
there was no man by that name registered
there.
Chief OF Police John o'Connor does not
believe the story given out yesterday IN
Chicago that Paul o. Stensland was in
Est Paul on his vacation. He said to the
Associated Press today:
"I don't think Stensland has been In
st. Paul. He is probably out of the
country by this time. We have not been
asked to look out for him nor Cashier
Herring"
| stenEland Mt Superior.
| SUPERIOR, wis. Aug. 7.-Darwin Scoon
sergeant OF police OF Superior. says he
saw Paul o. stenslsnd carrying a heavy
grip on a Duluth-superior street car this
morning Sergeant scoon and FIVE detec-
tives are now making a search for Stems
land.
! SUPERIOR, Wis. Aug 7.-Chief OF Po-
lice McKinnan OF this city said today that
he believes II possible Paul o. Stensland
went TO Canada by boat from Duluth.
Stensland IL not registered at any hotel In
either Duluth or Superior. The police are
looking for him.
FetEsr FORMALLY Lived in Omaha.