The Montgomery advertiser., 1906-08-08

I to excite the banks patrons.
 Later Assistant Chief of Poiics 1 Schneider with Inspector shippy and Bank Examiner Jones went to Justlcs | Stevenson and asked him to issue war. rant for the arrest of President Stems. land. The charge in the ompiaint ask. Ing for the issuance of the warrant |, l fraud Justice Stevenson was not in- | clined to issue the warrant and ths three returned to the bank empty hand. ed. It was expected, however. that 8 l warrant would be issued later in tht day by Justice Stevenson or some othe, justice Bank Examiner Jones reiteral ted his statement that he could give no estimate of the amount of the short age
 specuIafed for Five Years. l It was learned today that the specu- lations of the banks funds began be- fore the year 1901. At the beginning of that year q shortage of s25o.00o is now said to have existed. It was also learned that Theodore stensland now holds power Of attorney from his father The son is said to have been further authorized by stensiand. Senior, to dispose of all property. including real estate beionging to him (the fa- | ther) in order to make good, as far 1 possible. the speculations.
 | Members of the clearing house com mittee expressed their belief today that both Cashier Herring and President stensland are now in Canada A ru- mor today that Theodore Stensiand had also disappeared. grew out of his faii- I ure to keep an appointment with of- l flcials of the police department, and l search for him was begun. Judge Rren&ano Of the Superior Court today appointed John c. Fetzer receiver for the closed bank The bill of complaint filed in court alleges mismanagemeft by officials. The appointment Of a receiver was | obtained by two women who hold claims aggregating less than ssoo. The petition sets up that the two women are depositors: that August 6. the bank was closed and has not opened i since that it may never resume busi- ness; that the officials of the bank are not in their places and have departed l from the city. The court was informed that the complalnants and others ara facing the loss of their money in the bank. and that immediate action was necessary to protect them. The court was told that there are more than 20.- 00e persons who have money deposited In the alleged defunct institution and that most of these creditors are per- sons of little means and who know little or nothing about business meth ods
 Charges were made that the oficers 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 they can be found
 Warrant fox President. After further consultation with As- sistant Chief of. Police Schuetler and Inspector shippy Justice Stevenson de- cided to issue the warrant for the ar rest of Presfdent Htsnsland. The com plaint was sign@6 hg Bank Examiner Jones. and ]alieHAa violation of Sec 1 specifically % rsesNIng deposits after kHowiedHs Of insolvency
 The court fixed the bond of Receiver Fefzer at kl,8g0, ,03D The Police Department at f2.2B D. sn. today sent broadcast throughout the United States message giving a description of President stensland and asking for his arrest The message was as follows:
 Look out for and arrest for viola tion of the Illinois state banking law, Paul O. Etensland. about 56 years of age, i've feet. nine or ten inches in height, blue eyes, about 200 pounds in weight. Understand he has shaven his beard and has a smooth face. He
 
 seen, light suit and straw hat. He is light complexioned. tending to sandy He was last heard from at Duluth Send all information to Chief of Police Collins.
 (signed.) George M. shippy.
 Inspector of Police"
 Stockholders Hold Meeting.
 The largest stockholders of the bank met today and decided that if an as- sessment is necessary they will be ready to make payment.
 The Illinois law calls for an as- sessment of 100 per cent on all State bank stock in case the assets of the bank are insufficient to meet liabiii- ties This will mean there will be 325O, 900 cash immediately available to meet the depands of depositors. De- tectives for a surety company are searching for the missing president and cashier. 1t was said today that the company held a s10,000 bond on Hering which runs to the corporation and not to President Stensland per- sonally.
 states Attorney Hea1y said that in-, ouiry Into the affairs of the bank will not be made by him until after the state Bank Examiner had concluded his work in the institution.
 Mrs. Mary Grabolskt drew from the safety deposit department of the
 
 She had the money In her possession but d few moments when she was robbed of her purse in the street car. When she discovered her loss she set up such an outcry that the car was stopped and the passengers made ev- cry effort to aid her in the search for the pickpocket. The robber, however. escaped.
 David R. Forgan. Vice President of the First National Bank of this city, today called "inhuman" the circulation of stories 10 the effect that small de- nosftors of the Stensland bank will lose all of their savings. T am pre- pared to say that no matter how much had paper is found there" said MT. least 85 per cent and maybe 75 per cent. of their money.
 ssThere Is over sl.0oO, 900 in cash available now and that Is more than ao per cent. of the savings account. with my information l am prepared to say that more than 75 per cent. will be available"
 Not in ss. Paul.
 St. Paul Minn.. Aug. 1.--f Paul O. stensland Is still in St. Paul at any of the hotels, he Is living there under en assumed name The clerks at the Ryan. Frederick and Merchants ho- tels. when asked if Stensland was at their resp<ctive hotels replied that there wss no man by that name reg istered there.
 Nova Scotia Exclusion Act.
 St Johns, N. S, Aug f---Ihe measure adopted at the last session or the LeEis- lature requiring Chinese entering the coll ony to pay head tax or ssoo eAen was lrs ss.t ~ the imperial ministry was se-