The Montgomery advertiser., 1906-08-10
wEATHiR FORECAST. waxhfuufon. Aug. D---FOr Alabamai Fair Friday and Saturday, light south winds.

amounts.' he giving me memorandum of the amountsi | then made out the notes and handdh them to him or sent them to him inIthe regular routine of business Late generally the next dav. they werel returned to me duly signed by varidls people or at least they had the alhged signatures of va rious people.
 Mir Stensland then ordered me to place them to the credit of his personal accounts and tlfn draw checks on hts i personal accoudt for the various en- l terprfses which dragged him to ruin. | Did he ever ttiiize the names of the l smployes on tfltse notes?"
 1 T only know of one instance. Be- | fore the last Ieport to the auditor. there was an ovIrdraft of s26,00o which had to be takefi care of in some nan ! Ter. He got tdo employees of the Co., I operative storel which was the chief riillStone around his neck. to sign notes I for this amount, and this paper was I used to coneeaiFhe overdraft
 l When did youfirst become suspicious l that somethineIwas wrong?"
 l My suspiciois were aroused some I time ago. but made up my mind that is was my dutf to say something to Mr stensland kbout i've weeks ago.
 The inflnitude d notes piled upon notes had worried md so that I became sick I from anxiety, and 1 went away for a I few days. restl During this time ] made up nay hind to speak to Mr. Stensland.
 ssyyheu 1 cand back walked into his loffsce ana saidi Now. Mir. stensiand. you know this indebtedness.'
 Were you niore specific as to this EindebtednessT
 Nc. he kne4 what I meant, for I q handed him a paper containing a list
 of notes footiniz up s5S0,00O, which
 have reason to believe should not be
 among the assdts of the bank.
 Debt Too Large.
 This indebtedness is getting toe large I continued. and 1t ought to
 be fixed up In some other way or the
 bank will be ir trouble.
 He sat fof q moment and then
 said: Yes, know. but l have every reason te believe will have 1t all fixed
 LID shortly. I think have a buyer fot . ny Belmont Avenue and river property aIn also almost certain of finding purchaser for the Schultze propertS (which is right across from the bank , lasd if I can make a dicker with Wat son and get possession of the whole of the Paul o. stensiand subdivision, can sell 1t in lump Don't worry; il
 Will all be taken care of"
 This talk with Herring evidently was
 the thing that led Stensland to make up his mind to skip. The next week : he spent a lot of time in the directors room, and in his own private offce
 locking the door so 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 deposl'
 vault last Sunday. In the letter whicr his son received and which brought or
 tho crash, he atated that in the memo lrEndum in the box would be found
 record of his lndehzedness to the bank footing up $5e0.o0o. and also state' > r,enl by Cashier fIering of a furthsl Indebtedness of s530,0oo. which. tS quote the letter 'Hering says l ow'
 strensIand did not act in any unusua manner prior to his departure, be trayed no anxiety and carried on bust ness in the same old autocratic wa, that always had marked his business methods, but all the while he was get
 ting ready for .his flight.
 Herring Under Bond. Bank Examiner C. c. Jones. in ar ! interview wherein he declared tha
 only a bank examiner who was mind IrtadeI. could have foreseen the impend ] ing crash, said that part of Herring . publlshed defense he believed to b. true. Other parts, he said, he knew t' be untrue He declined to be nor
 explicit He pointed out that Herring
 as cashier, was under heavy bond while stensland, the President, was no
 as far as Mir. Jones has been able t;
 learn.
 , Vice President Theodore stenslant was taken into Police Inspector snip py's office during the day and ques ! tioned for nearly an hour stenos
 during the interview. Before enter ing the inspectors ofice Vice-Presi , dent Stensland was asked concernini l his father. He declared that ne ns ! not heard from him ana knows hoth ing of his whereabouts
 } One of the results of Hering's reap
 pearance will be that the co-operattv
 store, said to have furnished a chan
 nel for dIssipating nearly S50o,o00 O the banks funds, will be closed. Re
 ceiver John c. Fetzer said this morn ing that he will ask instructions o
 Judge Brentano on the disposition Q the stock in the store. Another de
 veiopment expected today is that th [ l estate of the fleeing bank president , an estimated value of $600.60O, Will D
 deeded to the receiver by Theodor q am collecting the assets of tn
 hank. not running business enter nrises.'' said Receiver Fetzer todaA !so the store will be closed. Tn s30O. .OO0 in o-operative store bond , mentioned by Cashier Herring was dis
 covered in the banks vaults yester Receiver Fetzer declared that tn first abatement of cash in hand at tn hank was nearly S300.000 too high. l xvas said there was $1.O50.000 cash | z l strht. Instead there is only abou | S75o.0OO, '"This does not necessaril 5 mean a loss." MT. Fetzer explained
 l but there were many items carrie | on the banks books as cash Una
 | were not so in reality.
 Another warrant, charging Violauo l of the State banking laws was swor
 out today for the arrest of Theodor
 Stenaland. Vice President of the sus
 nended hank The Vice-President WI
 | not he arrested on this warrant toda. s accordtng to the police. Charles Ha ] his inc complainant. charges Stems E land with violation of the bankin ianSs inasmuch as he permitted hil B to deposIt $125 in the bank on Satur , dsv st He (Stensiand) knew tn f hank to be insolvent Stensland wa arrested last Monday on simlla
 warrant. Inspector Shippy was SUI
 prised when he was told that terln has been in Chicago. since Monday "Au can say. said lnspectt - shippy. "is that if Herring shows hin ' self to the police he will be taken . custody"
 D,Az RECEIVES COMMITTEE.