Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-09
BANK DIRECTORY
WAS NEGLIGENT
Latest Developments in Chi
cago Bank Failure.
MAY BE HELD FOR LOSSES
Evidence to Be Laid Before States
Attorney.
CASHIER Herring STILL MISSING
Another Warrant Out for Vice Pred-
dent stensland Of the Looted In
stitution-Revelation
CASHIER Herring STILL MISSING

CHICAGO. Ill, August 9-Evidence which
may lead to the prosecution of the director.
for responsibility for President Slensland..
II 600 theft by forgery was among ,,a
general developments yesterday toucbt,o
the muicted Milwaukee Avenue State Rank
II developed that the directors Of the
institution neglected to enforce such
precautions as would have made imposs,-
Die Stens1and's operations In fictitious
paper directly under their noses Stems
iano never was required to accoun. for tha
vast amount or money which apparently
was Deing borrowed by small tradesmen In
the neighborhood and by small depositors
in the bank.
1t is expected that the evidence wiz ha
laid oetore states Attorney Healey as soon
as Receiver Fetzer and Bank Examiner
Jones can complete their report
''he OF the results, Of Hering's reappear-
ahce VIII oc lAdt the cooperative store said
% nave 1urI,'shec channel for dissipatinR
-edf!y sSE,cD o: the banks funds will he
closed. Receiver John c. Fetzer said this
morn rg that he will ask Instructions OF
Judge hrentano on the disposition of the
ssh N the store. Another development
expected today Is that the estate Of the
fleeing bank president, of an estimated
value OF 100000 will be decided to the re-
ceiver by Theodore Stensland.
The Receiver is Busy.
i am collecting the assets of the bank.
not running business enterprises" said Rs
celver Fetzer today. $50 the store will be
closed. The 100000 in cooperative store
bonds mentioned by Cashier Herring were
discovered in the bank vault yesterday"
Receiver Fetzer declared that the first
statement of cash in hand at the bank was
nearly $4,000 too high. 1t was said there
is only about $4,000 This does NOT nee
essarfly mean q loss, 'HMr Fetzer explained
pul there were many items carried on the
banks books as CASH that were not SO in
reality"
another warrant, charging violation of the
state banking laws. was sworn out today
for the arrest of Theodore Stensland, vice
president of the suspended bank
Vice President Stensland will not be ar
rested on this warrant today, according to
the police. Charles Habel, the complainant.
charges Stensland with violation of the
banking laws inasmuch as he permitted
him to derosit S125 in the bank on Saturday
last when he (Stensland) knew the bank to
be insolvent. Stensland was arrested last
Monday on a similar warrant
Inspector Shippy was surprised when he
was told that Herring has been in Chicago
since Monday. 'All 1 can saw" said IN
spector Shippy, rs that If Herring shows
himself to the police he will be taken in
custody"
Bank EXamiper's Statement.
Bank Examiner c. C. Jones today. in an
interview, wherein he declared that onIv a
bank examiner who is a mind reader could
have eoreseen the impending crash. said
that part Of Cashier Hering's published de-
tense Is true. Other parts. Mr.. Jones said,
he knew to be untrue. He declined to be
more explicit. He pointed out that Herring,
as cashier, was under h&eavy bond, while
Stensland, the president. was not, as far as
Mr. Jones had been able to learn
Inspector Shippy today sent a detective
to Baraboo, Wis, to interview a woman
who is said to be well acquainted with the
missing president, and is believed by the
police to have some knowledge of Stems
lands whereabouts