The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-09-04
Chicago Bank President is A.
rested in Tangisr, Morocco
TRACED ALL OVER EUROPE
travelled as P. Olson of Norway and
Intended to Spend the Month of
October In the Canary
Islands.

Chicago, September "A cablegram to
the Chicago Tribune from Tangier, Moroc-
co, today announces the capture in that
city of Paul o. Stensland. the president
and manager of the Milwaukee Avenue
State bank, which closed its doors ON
August 6.
The arrest was made by representative
of the Tribune and Assistant States At
torney Olsen of this city, who have been
on the trail of Stensland since August 1S.
Stensland had many friends. among
women of this city, on whom he was ac-
customed to spend much money, and one
of these, feeling that she had not been
treated by him with due consideration,
came to the Tribune a few days after his
flight with information regarding the di-
rection in which he had gone. This infor-
nation was somewhat indefinite, but in
yestigation proved its probable accuracy.
A representative was sent to States Attor-
ney Healey, who al that time was east,
with the information and the request that
a representative of the states attorney
office he permitted to accompany the
Tribune representative on the quest of
the fugitive. Mr.. Healy agreed and sent
Assistant States Attorney Olsen with the
Tribune's correspondent.
Sailed for Liverpool.
1t was ascertained that Stensla I'd
fed from Chicago on July r. going dire
ly to New York, and sailed in steamer
of the White Star line for Liverpool. He
remained in that city for two days and
then took a steamer for Gibraltar, which
he reached ON July 81 From there he took
a boat for Tangler. The Tribune corre-
spondent and Assistant States Attorney
Olsen were hot on his trail and arrived In
Tangier about one hour after he had left
it for trip for the east coast of Africa.
1t was ascertained that he had deposited
$4,000 in bank of Tangier and believing
that he would soon return the two men
decided to await him there. A dispatch
printed In the regular edition OF the Trlb-
une this morning, declared the arrest of
Stensland would only be a matter of hours
and four hours later a special edition was
issued declaring that the Fugitive had
been taken into custody.
Travelled Under Assumed Name.
During the period intervening between
his flight and his arrest, Stensland has
been going under the name of p. Olsen of
Norway. 1t was learned before his arrest
that he had figured on spending the month
of October in the Canary islands and from
there going to London, as he had ordered
all his mail sent to the Metropole Notel in
that city from Tangier.
A reward of $1,000 had been offered for
the arrest of Stensland, and since his de-
parture from Chicago many detectives
IL f..., 1. fnt,p fa1.s.
were received almost daily from all parts
of the world declaring the fugitive had
been seen there and only three days ago
1t was declared with much positveness
that he had been seen In Brazil and that
his arrest was only a amtter of few
days.
Henry w. Herring, former cashier of the
Milwaukee Avenue State bank, learned
early today of the arrest of Stensland
and expressed his pleasure. He said that
he was surprised that Stensland had been
taken alive, expressing his belief that the
man would have committed suicide before
permitting himself to be captured.
''I do not know" said Herring, who the
woman could have been, who Is said to
have given the information which led to
the arrest Ttensland had many personal
callers, but | have never known whether
they called on personal matters or on
business"
Woman's Name Kept Secret.
At the office of the states attorney all
regarding the name or the
woman who had indirectly caused the ar
rest was refused 1t was announced thai
Assistant States Attorney Olsen had
since embarking on the pursuit Of stems
land posed as the son of "Olsen,' the
name used by Stensland. declaring that ne
was anxious to overtake his rather VINO
was travelling just ahead or MN. As
Stensland apparently made no effort to
conceal his trail the following was not
difficult
The closing of the doors Of the Milwau-
kee Avenue State bank, which occurred
on August 5, probably caused more an
guish, suffering and trouble than any SIM
liar event in the west in many years 1t
was followed by several cases Of suicide
and a number Of people were driven to
Stensland lived fast life, spent
money recklessly, speculated widely and
In one way or another got away with
about 100000 of the banks money be
fore the crash came. More than zZOOV
ia miles had money deposited In the bank
and the failure came as crushing bloW
to the majority of them. The vast ma
iority Of the depostors were wage earn
ers and the money lney Hdu III thV Dn'n
all they had been able to save
from the earnings of years. Stensand
had for years plundered the bank by
means of forged notes. the juggling or
the books, direct embezzlement and bogus
mortgages. A memorandum left by Stems
Ia nd showed notes to the amount 81. 100000
made up of more than 200 items ranging
In amount from $1,000 to $1,000 each that
were, for the most part, forgeries.
Sunk In Real Estate Speculation
The proceeds of these transactions had
been sunk in real estate speculatlons.
Part of the banks money was popularity
thought to have gone to Cashier Herring.
who was fond of race horses, and had
also the automobile fever. Herring, who
surrendered himself later, and who IS
now In Jail in default Of bail to the
amount of s6S OO0 has always denied
that he was implicated in the wrecking
of the bank. but has asserted that he
was the dupe Of Stensland. At the time
of the failure of the bank the deposits as
gregated $4.300.000 The receiver appoint
ed by the courts has paid 20 per cent to
the savings depositors. and further pay
ments Will be made in a short time
The news of the arrest OF Stensland