Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-08-09
sTENsLAND's ANsWER.

STENsLANDS ANSWER.
lie sat for moment. and then
said Yes. | know but have every
reason 20 believe win have a. an fixed
w shortly. | think ! have a buyer Tor
my Belmont avenue and River proper
~, ] am also most certain Of finding a
purchaser for the Schultze property
(Which Is right across from the bank,
and N I can make a dicker with Wat
son and get possession Of the whole ~
the Paul O. Stensland subdivision ! can
sell Il IN a lump. Don't worry Il VIII
all be taken care Of
"A moment later he said. j have
also had an offer for my Elmwopd GENE
etery stock but don't think IL is
enough and viii hold it for better
price
PRESIDENT SKIPPED.
This talk with Herring evidently was
the thing that led Steusland To- make up
his mind TO skip The next week he
spent a LOT OF time I'm the directors
room and in his own private office,
locking the door 50 that he could not
be interrupted.
He worked not only during the day
time but late at night. He evidently
was casting up the amount he had
stolen and preparing the document
which was found IN his safety deposit
box last sunday In the latter. which
his son received and which brought on
the crash. he stated that In the mem
orandum In the box would be found a
record OF his Indebtedness 20 the bank,
footing up 100000. and also state
ment by Cashier Herring OF a further
Indebtedness Of $780, 600 which. to quote
the letter, Herring says ! owe the
bank"
Mr. Herring admitted last night that
he had made out this statement and il
was the one submitted hv him 10 his
chief FIVE weeks ago. when he made a
demand on Stensland TO hN matters
up
Stensland did not act IN any unusual
manner prior 10 his departure. showed
no anxiety and carried ON business I'm |
the same old auiocratic Wav that al
ways marked his business methods. but |
all the while he was getting ready for
his flight
MAY PROSECUTE DIRECTORS.
Chicago Aug. g.-E,idence which |
may lead 10 the prosecution OF the d. |
rectors FOR responsibility Tor President |
Stensland's 81 03 COO THEFT by forgery |
was among the general Developments |
yesterday. touching the mulcted Mil !
Waukee Avenue State bank
II developed that the direc- /
tors OF the Institution neglected 20 |
enforce such precautions as would |
nave made impossible Stensland's |
operations in fictitious paper directly |
under their noses. Stensland never
vas required 10 account for the vast |
amount Of money which spps rently /
was being borrowed by small trades
lneH IN ihe ueighborhood, and by small /
depositors in the bank.
II Is expected that the evidence will
be laid before the states attorney a.
soon as Receiver Fetzer and Bank
Examiner Jones can complete their
report
one Of the results Of Herings reap-
pearance wa be that the cooperative |
store said To have furnished a channel !
Tor dissipatng nearly 100000 Of the |
banks funds. viii be closed.
Receiver John &. fctzer said this |
morning that he viii ask instructions /
or Judge Brentano on the disposition |
Of the stock in the store. Another |
development expected today Is that |
the estate 90 the fleeing bank presi- /
dent, N an estimated value OF $500 |
900. win be decided To the receiver By /
Theodore Siensland
Collecting BANKS ASSETS.
u am collecting the assets or the
bank not running business enter
prises.' said Receiver Feizer today. |
80 THIS store win De closed The .
SooN00 In cooperative store bonds /
mentioned by Csshier Herring were dis
covered In the banks vault yester-
day.
Receiver Fotzcr declared that the |
first statement ~ cash In hand at the .
bank was 5000 too high II was
said thorc were Si.050O00 cash I'm sight.
Instead there Is only about ,5so.OO0.
This does not necessarily mean 2
loss" Mr. Fctzer cyplsiued. but there
were many items carried on tho banks
books as cash that we're not 50 IN
reality
ANOTHER WARRANT.
Another warrant charging violation
NJ the state banking laws was sworn
out today for the arrest 81 Theodore
Si'nslaud ,icC-prcsidcnt 81 The sus-
pended bank NiCc-Prcs Stensland
viii not be- arrested on this warrant
today according 20 the police.
Charles lisbol the complainant.
charge Stcnslsnd with violation Of the
banking laws iuasmuch as he permit
tod him 90 deposit sls5 In the bank on
SATURDAY last when Stcnsland knew
the bank 90 be insolvent. Stcnsland
was arrested last Monday on similar
warrant
Rank Examiner Jones. IN an inter
view Wherein he declared that only
bank examiner who was q mindread-
or could have forcsecn the impending
crash. said that part 81 Cashier Her
ing's published defense he believed 10
be true Other parts he said he knew
to he untrue. He declined 70 10 more
explicit RE pointed out that Herring,
as cashier. was under heavy bond.
while Siensland. the president. WAS
not. As Tar rs Mr. Jones has been
able 10 learn.
Inspector shppy today sent a dotcc-
tive TO Rstaboo. Wis. 10 interview n
woman who Is said to be- well scquaint-
"a with the missing president and who
Is believed hv tho police 80 have some
knowledge 81 his whereabouts
Vice President Theodore Stenslsnd |
" ~ lHhfli filih llNllff AltNN''Nfl EIil- /
py's office during the DAY and uues-
TONED for nearly an hour 4 stenoE-
iapher and notary public were present
during tho Interview Before enter
Ing tho inspectors office Vice Pres-
dent Stensland was asked concerning 4
his father. lie declared that he has
not heard from him and knows MOTH
ing ~ his whereabouts
Although the police had fully ev-
pected Cashier Herring would appear /
81 I o'clock this afternoon 10 place /
himself under arrest. Al $50 o'clock /
none Of the stations had reported his |
arrest
BRITT AND HANl0N