The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1906-08-09
MISSING BANKER
SEEN IN SUPERIOR.
STORY OF POLICE SERGEANT OF
WISCONSIN CITY STARTS CHASE
FOR P. o. STENSLAND.
Depositors Losing Hope Of Recovering
S4,2o0,0o0 Entrusted to Chiefs OF
the Milwaukee Avenue Bank.

SUPERIOR. Wis, Aug. IL Special
Darwin Scoon, sergeant of police OF
superior, says he saw Paul O. Stems
land, carrying a heavy grip on Duluth
Superior car this morning, returning to
Superior. Stensland, Scoon says, wore
the light suit, straw hat and in all par
ticulars, Tailed with the description
sent out by the Chicago police.
Scoon and five detectives are Row
making a search for Stensland and the
peculiar grip.
Search at Superior.
Chief of Police McNennan of Supe-
riOr, Wis, said today that he believes it
possible that Paul .. Stensland Went
to Canada by boat from Duluth. He
said to the Associated Press today:
1T is my belief that that story was
told for the purpose of giving the par
ties a little leeway. | don't think Stems
land has been i'll st. Paul"
Madison Daughters Story
MADISON. Wis, Aug. IL Speciall
Mrs. lnga Sandberg, daughter of Pres
ident Paul y. Stensland of the Milwau-
kee Avenue State bank Chicago, said
today she did not know the whereabouts
of her father, that her brother heard
from him a week ago. He was then IN
ST. Paul, alone.
Mrs. Sandberg is noted pianist and
an instructor in the school of music of
the University of Wisconsin. She lives
at the Chi Omega Sorority house.
Warrants Ready for Bankers.
CHICAGO, H., Aug. 7.-President
Paul .. Stensland of the Milwaukee
Avenue State bank will doubtless be ar
rested as soon as he enters Chicago or
can be found. Bank Examiner Jones,
who closed the bank yesterday, said to-
day that Mr., Stensland surely had guilty
knowledge Of the footing of the bank.
The $1,000 depOsitors in the bank are
gradually losing hope of recovering the
S4,20O,OOO they entrusted 10 Stensland's
care.
\ warrant was issued today for the
bank president and John G. Fetzer was
appointed receiver under Sl,OOOOUO
bond.
Stockholders May Pay.
The largest stockholders of the bank
met today and decided that if an assess
ment is necessary they will be ready to
for an assessment of 100 per cent.
on all state bank stock in case the assets
of the bank are insufficient to meet la
blitcs. This will mean that there will
be S25O,0OO cash Immediately available
to meet the demands of depositors.
Detectives for surety company are
searching for the missing president and
cashier. 1t was said the company held a
$4,000 bond on Herring, which runs to
the corporation and not To President
Stensland personally.
Officials May Be in Canada,
Detectives are now seeking Cashier
Henry W. Herring, alleged embezzler.
Detective Cannon, who has the warrant
for Hering's arrest charging embeZze-
ment, has information to the effect that
the missing cashier was in Detroit. Il
secured information from reliable
sources that Herring left for Detroit
Saturday night" said Cannon today.
His destination, | understand, is Can
ada"
There was a crowd Of several hundred
working people around the bank this
morning, Notwithstanding that the doors
We're closed and there was no prospect
of recovering funds.
Crash Causes Two Deaths,
Two deaths yesterday followed close
upon the crash of the Milwaukee Ave-
nue. State bank. One depostor dropped
dead, .probably from heart disease, when
he heard of the failure and another
killed himself with a revolver because
his savings were lost.
In the list of stockholders of the Mil
Niuhct Avenue Dirk Is contained the
name of Mrs. +. Crosby, Racine, Wis.
Money in Vaults Gone?
Persons with money in the vaults
were said to have found their savings
gone. These rsmors originated in the
butcher shop Of Otto Blaura, Marshheld
avenue and Cornelia street Blaura said
his sister had 5000 in the vault and when
she went to get the money it was gone.
Other stories of alleged tampering
with the contents of boxes were passed
through the crowd and helped to excite
the banks patrons. More police were
called out.
1t was learned today that the pecua-
tions of the banks funds began before
the year 1901. At the beginning of that
year a shortage of S25O,O00 is now said