Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-11-29
.FORG[DAR[ NUMEROUS
Crooked Work Of Cashier Stand
ring Grows as Investigation
Progresses
BANK IN RECEIVERS HANDS
Probable That Depositors Will Lose
Large Number of Farmers Names
Signed to Bogus Notes - Standrins
Borrowed Much Money From His
Friends and Relatives.
Special to Times Republican.

Special to Times Republican.
Corwith. Nov characterization of
the affairs of the State Bank of Cor
with shows that the manipulations of
Cashier Standring took wide range,
and that the affairs of the bank are
badly involved--so badly that the state
ship necessary. Mr.. Oelke, of Corwith,
has been selected as receiver. 1t Is
| quito probable that q new bank will
he organized Immediately. the affairs
OF the old bank to be handled entirely
under the direction OF the receiver,
and finally closed up after all assets
are converted into cash and paid to
depositors and others. The forged
notes now amount to over 100000. q
number Of farmers in Kossuth county
| being involved. 1t Is freely predicted
by many that future developments
will reveal that Standring had help
from some party in some other city to
aid him in selling the notes and con-
verting the drafts into cash. The farm
ers whose names are forged are meet
ing today to make partial arrange
ments for their defense and select an
attorney.
Used Many Methods.
Various methods We're used by
Standring to obtain money. the most
extensive being forged notes. which
up to Tuesday noon amounted to
about $4,000. A few of these notes
expired before he fed but not many.
his operations in this line showing
notes dated between Oct. ] and s,
and possibly disposed of as late as
this month. The names of over thirty
farmers in the vicinity of Corwith.
comprising the richest farmers of the
community. and whose farms are free
or nearly so, from debt, We're forged
by Standring to notes of from $500 to
$1,000 each. The names Of several
farmers appear on two or three notes,
so that they have the undesired honor
of having notes to the amount of over
$4,000 bearing their names. Among
those whose names we are informed
were forged by Standring are Ed Will
Jams, Peter knudsen, Jefferson Yea
KEEL, Charlie Jurgenson, John Jurgen-
son. Elias Long, William e. Gourley,
William Erdman, ]. j. Bonneston, AL
bert Skully, Lon Gaskill, VIII Gaslill,
Wash Minor, Fred Oxley, Frank Oxley.
Eli White Fritz Gerard, Henry
Wagner. The note blanks used by
the bank when loaning money were
used by Standing; they are made pay
able to First State Bank of Corwith,
Interest from date at s per cent. time
ranging from a few months to over
year.
Banks at ST. Benedict, Grundy Gem
ter. Garnavillo, Fort Dodge, Des
Moines and Chicago bought these
forged notes 1t is presumed he paid
the interest as it became due. and
one or two are known to have been
| renewed
Where and how Standring converted
into actual cash the bank drafts re-
ceived in payment Of the forged notes
sold and what he did with the money,
is an unsolved mystery. He is known
to have been badly in need of money
to carry on his land deals in Minnesota
and Iowa, but it hardly seems posi-
BILE that the entire sum Of his various
populations should have been necessary
to tide over his speculations in land
One certificate Of deposit of money
received has shown up of which no
record appears There will be no sur
prise If others are presented. as they
will likely be held by parties IN var
ious states and will be slow to put
in appearance.
Borrowed From Friends.
Standing gave his personal notes to
number of his friends and relatives
who had money to loan on "giltedged
security" These little side deals eX-
tended up to the day of his departure.
The report that he embarrassed no
one belonging to the Masonic lodge, of
which he was member, appears to
have been somewhat premature, as
he is known to have both borrowed
money from his brother members and
also forged their names to notes. The
only redeeming feature we have found
lis that he decided to the bank his
farm of 500 acres south of Corwith, in
which he had an equity Of about s15,-
600. However, it is reported this farm
was part Of the assets of the bank,
being carried in Standings name. He
also borrowed money from the bank
previous to his departure, to what eX-
tent has not been made known.