The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-08-09
SON Of FUGITIVE
AIDS DEPOS|TORS. /.
Nlce-President Of Defunct Chi
cagO Bank VIII Turn Over
Fathers Property.
MAY POSSIBLY SECURE
THEM DOLLAR FOR DOLLAR
President Paul @. Stensland and
Cashier Herring Are Still
Sought for in Vain

CHICAGO, Aug. S.-Theodore Stems.
land, vlce-president of the Milwaukee
Avenue State bank and son Of the
fugitive president of that institution.
has come to the rescue of the $4,000
depositors, and tonight it is the general
belief of those who are endeavoring to
straighten out the affairs Of the bank
thnt there Is an excellent chance that
all those who have deposits in the
failed institution will receive almost
dollar for dollar when u final settle
lnent is made. The improved condition
OF the banks affairs was brought
about by young Stensland, who tonight
announced that he would turn over to
Receiver Fetzer tomorrow all the real
estate and personal property Of Paul
o. Stensland, his father. The son
places valuation of 100000 on this
collateral. and he stated tonight that
he had full authority to make the
transfer of the property for the benefit
Of the depositors,
Arranging for Transfer.
Arrangements were made tonight for
q meeting tomorrow between Vice
President Stensland and Receiver Fetz-
er,, when the holdings of the father
Will be placed in the hands of the re
ceiyer According 10 Stensland, the
property of his father is of such char
acter that it can be easily realized on
without any delay.
Paul 0. Stensland, president, and
Henry W. Herring, cashier, are still
MT large, and search for these fugitives
IS being made ali over the country.
Five thousand pictures of the two Off
cials are being prepared, with full de-
scrlptIons OF both, and these will be
spread broadcast throughout tho entire
world
Depositors Are Excited.
At one time this afternoon it ap-
| pearcd as If there would be serious
trouble with the depositors, who
swarmed around the doors Of the failed
bank. While fully thousand Of the
depositors shouted their protests, over
$500 200 was removed from the vaults
OF the institution to those of the Ma
tlonal Bank Of the Republic, where it
will be held for safe keeping until next
Tuesday, when, it is said, distribution
to the depositors will be made The
removal of the money put the crowd i'll
an angry mood, and it took big police
detail to keep the excited throng from
upsetting the patrol wagons, which
were filled with bluecoats.
A statement of the banks affairs is
promised for next Monday by Bank
Examiner Jones.
Theodore Stensland, who was arrest
ed yesterday on q warrant charging him
with violation or the banking laws OF
Illinois, accompanied by his attorney
and bondsmen, appeared in court this
afternoon, and by agreement tho hear
ing was postponed until August Is.
Sickness May Aid Officers
There is hope that physical ailment
of Banker Stensand may lead to his
arrest For five years he has been
severe sufferer from bronchial disease.
This throat trouble almost caused his
death one winter. Since then he has
been forbidden by his physician to go
out nights. Stensland's q condition is
now said to be such that he cannot go
long without medical attention
Detectives were sent to Michigan to-
day in pursuit Of Henry w Herring,
the fugitive cashier, who is said to
have been there. The police are said
to have received information last night
that Herring had crossed the lake when
he left Chicago and the officers will
follow this trail Receiver Fetzer said
today that he was beginning n rigid
investigation of the forged notes in
cooperation with Examiner Jones, 1t
will be three or four days, he said, be.
fore he can get an adequate Idea of
the situation. He said persons who al
legged their signatures to have been
forged would be required to furnish
absolute proof