The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-03-14


The Utah National bank hereby y
y offers a reward of Ten Thousand =
= $50 000) dollars for information =
> leading to the arrest and convic- =
ton of the party or parties guilty =
= of the theft.
w. S. MCCORMICK. President. =
r. T. BADGER, Cashier.
%++%+<%+%%+< +%%+%k+<%+++++
At a meeting of the board of directors
of the Utah National bank yesterday
afternoon it was unanimously decided
to offer a reward of $4,000 for infor-
nation leading to the arrest and con-
viction of the man who stole the $106,-
600 from the bank. II was also decided
to issue a statement TO the public set
ting forth the facts Of the robbery and
explaining the position of the bank.
The statement shows that the bank is
putting forth every effort to accomplish
the arrest of the guilty person.
The meeting of the directors was
attended by all of the members of the
board with the exception of ]. p. Gard
ner and John Henry Smith, who are out
of the city. All agreed on the statement
to be issued, and the meeting was har-
mOniOus.
The statement issued by the bank fol-
lows:
Statement to the Public.
To the Public:-In view of the many
conflicting reports which have been
placed in circulation concerning the
theft of funds of the Utah National
bank, and the destinations based upon
gossip and rumor, made and circulated
in the community, we make the fol-
lowing as an accurate statement of
facts:
ION Jan. Il. 1903. il was discovered
that the sum of $106,250 in cash had
been feloniously taken from the vault
of The bank. This discovery came at
a time when the feeling of uneasinGSs
and apprehension as to the financial
situation was still prevalent through
out the country. and many still dis
trusted our strongest institutions. The
responsible officials of tie bank re-
allied that it would not only serve
no good purpose to make public the
loss at that time but such a course
might precipitate widespread disaster
Accordingly, upon the advice of ex-
perts employed on the case, and by
common consent the facts were kept
from the public. Immediately at the
expense Of the bank the services Of the
PinkertOn detective agency we're Sc
cured and they have ever since been
and still are in charge OF the case.
Place Money In Bank.
Mr.. W. S. Mccormick. the president
and owner of a majority of the capital
stock of the bank, and Mr.. Joseph Nell
son. the cashier. also a heavy stock
holder. realizing that the impairment
of the capital must be remedied i'm
mediately. at once placed in the bank
by way of voluntary contribution, the
sum of $6S,250 i'm cash. Mr.. Mccormick
furnishing $4,000 and Mr.. Nelson
S13.250. The surplus of the bank, a.
will be seen from its published state
meats issued prior TO The discovery 0f
the theft. was in excess Of $50. Oe0 Ant
er the contribution made as above
stated. the net loss of the bank was
s43, GOO. and this loss. it viii be oh
served. in TO way impairs the capital
but reduces the former surplus by the
amount stated.
Under the national banking laws
this money paid in by Mr.. Mccormick
and Mr.. Nelson cannot be regarded as
loan, but is a voluntary gift or con-
tributiOn and ii rests with the stock
holders of the bank as TO whether il
will be refunded to them.
From the first the PinkertOn agen-
cy has had responsible charge of the
investigation and the work of detect
ing the criminal ana recovering. the
money stolen Acting upon the advice
of their men the information WAS Civ
en- out that the loss of the bank was
S43, 600. It was thought that this was
as much as the public was interested
in knowing. The fact Of the loss and
of the payment made TO repair the
same, and the exact condition of the
bank, together with the steps being ia
ken TO discover the guilty party we're
reported to the comptroller of the cur
rency. and his acknowledgement of the
receipt of this information with a re-
quest to be kept advised as to the
progress of the investigation. is on
file.
Pinkertons in Charge.
THE Pinkerton agency still has
charge Of the case, and no effort or
expense has been spared or will be
spared to fix the guilt OF this crime
and to recover the money taken. and
the Utah National bank hereby offers
a reward of ten thousand dollars for
inforpation leading to the arrest and
conviction Of the party or parties
guilty of the theft.
Continued on Page 2.