The Montgomery advertiser., 1906-08-15
 WILL WAR ON
 BUCKET SHOP Candidates Announce
 Their Positions. CASE OF YOUNG CHISHOLM To Be Arraigned Before Commis-
 sioner Monday.
Assistant District Attorney steele Am noances That Enort win be Made To Convict Broker. witA
 Whom Chisholm Traded.

Ihere was not ripple or excitement in banking circles today following the denouement yesterday that Paying Teller Alexander R. Chisholm. of the First National Bank had embedded funds which amounted to sloo.ooo and had used the same. or the greater por- tion of it In stock and cotton specula- ton in local establishments. Chisholm, who had been In the custody of . United States marshal since his bond was fixed at s50.o00 by United States Commissioner Watts. has repeated the story of hts downfall not only to the directors of the First National bank but to his father. He spent today in the private offfce of United States Mar shal Long. Last night he was at the Hillman hotel.
 Efforts were made during the day to arrange the bond required. Sims and Hays the two cotton and stock ex- change manager and clerk. respective ly whoawere placed under arrest yes- terday. made the bonds required of them with ease. F. c. Smith. of Foster and Go, for whose arrest q warrant was i, issued at the same time yesterday that the other warrants came out went to New York Sunday and 1t is expected that his arrest will be effected in the next day or two.
 Because of the prominence of the young teller and his family the an- nouncement of the dedication was talk cd all day. Much sympathy was ex- pressed for him and feeling has been aroused against cotton and stock ex- changes, Candidates for office today came out in strong dennnclation Of the bucket shops" and wire specula- ton establishments, promising to vote for bills to put these establishments out of business just as has been done In Georgia. Pete Beddow, candidate for the state senate from Jefferson coun- ty, in an interview announced this morning that he would Introduce a bill to put the bucket shops out of business in Alabama
 Bonded for 850,o00.
 Rumors nxewailed today that the l Guaranty Company that was on the bond of young Chisholm for $s0,000 may not pay the amount named. a claim being made that the duties of the teller were not altogether stated In the application for the bond or that more privileges were allowed him than was entitled to the position. However. there Is no definite information as to not paving the bond The statement of the embezzlement has been forwarded by the local representatives of the guaranty company to headquarters and 1t is expected that special agent will be in Birmingham shortly to make a full investigation. Announcement Is made that if the bond is not paid that suit will be filed to collect 1t. An important announcement was made today by Assistant United States District Attorney N. L.. Steele. He states that efforts will be made to con- vict stock exchange proprietors as well as the young teller. Against the teller Is the charge of embedding funds or national bank and against the stock exchange people aiding and abetting the embezzlement of funds of na- tional bank"
 When the preliminary trial Is called next Monday before United States Com- missioner WStts 1t Is expected that there will be many people on hand to hear the testimony. While it Is be- lieved that the defendants will waive examination and give bond for their appearance before the grand jury, there are some who think that witnesses will be placed on the stand. The district attorneys have secured the books of the cotton exchanges and have gath cred together the entries and charges off in the case in particular It is not denied that Chisholm did his trading" in another name than that of his own.
 Win Not Make Bond. After consultation with his attorney Cant Frank s. White, Alexander R. Chisholm, the defaulting cashier of the First National Bank, has decided not to make further attempt to furnish $50, 900 bail. which has been fixed, for his appearance at a preliminary hear ing on Monday.
 Assistant District Attorney N. l.. Steele has decided that he will not send Chisholm to jail. but will permit him to spend the time from now until Monday In a hotel Chisholm will stay either at the Birmingham Hotel or The Florence. Two deputy marshals will be with him constantly.
 Further details of the manner in which Chisholm concealed his ernbez- clement from the bank oficiaIs have been revealed in a confession which he made to National Bank Examiner g. IT. [. Cooper. It seems that 1t is the GUS tom of many of the large manufactur- ing companies of the city to telephone to the bank that they would reed so much money for a pay roll. giving at the same time the change list. The paving teller of the bank makes up this pay roll and places a memorandum charge on his file against the com pany, who some time do not get in their check to cover the amount until after banking hours of the day.
 Chisholm's scheme was. at the close 
 memorandum for tho amount of hls shortage at one of these companies to the bookkeeper, who thereupon made an entry on his books charging tho company with the amount. The next day Chisholm would make a deposit slip in favor of the company in ques- ton for the amount involved, and turn 1t over to the bookkeeper, who would make the credit entry. This would re- sult in a simple cross entry. which would not be placed on the pass book of the company.
 That Chisholm kept close tab on his speculations of the banks funds is evidenced by the fact that when searched after his arrest a memoran- dunn was found on him which was complete and aeurate record of each and every amount and the date upon which it had been taken.
 When he left on his vacation, it, of course, was necessary for him to make some disposition of the shortage in his cash. and this he did by overstatinE