The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-03-12
CHAPMAN WANTS
BANK TROUBLES
PUBLICLY AIRED
Extent of Robbery Is Placed at
$106,250 Following His
Declaration.
HE RESENTS POLICY OF
THE BANK EXECUTIVES
BRINGS OUT THAT TWO OFF,
GERS OF BANK MADE GOOD
PART OF LOSS.


Following a meeting of the directors OF
the Utah National bank yesterday aft
ernoon, James Chapman announced that
he had demanded that the directors OF
the bank issue to the public a statement
Of the facts concerning the recent rob
berry of $4,000 from the reserve chest
of that bank. After considerable discus
sion It was decided that w 5. McCOr-
nick. the president Of the bank, should
give out whatever statement he cared 10
make concerning the robbery
Mr. Chapman said that he would not be
party to any deception concerning the
robbery and made public yesterday what
he understood to be the facts in the
case. He declared that the actual amount
stolen from the reserve vault was $lO6,000
and not $40, $50, the amount that had been
given out previously. He said that the
actual loss to the stockholders of the
bank was approximately $4,000. that much
of the rest Mr. Mccormick. himself HAD
made good out of his personal funds.
The $4,000 which was not replaced viii
be crossed off the reserve. said Mr.. Chip
man, the same though il were lost in
a business transaction.
The developments of yesterday indicate
that the bank robbery mystery, if nOt
solved in the near future. will result IN
serious complications. Almost every one
even remotely connected with the bank
has been more or less affected by the
unpleasant nOtOriety attaching TO the rob
berry
Chapman on Policy.
i guess 1 have let the cat out of the
bag" said Mr.. Chapman last night. Il
imagine I'll get a Taking over from those
fellows for making the correct statement
IT the 4acfs Of the case, hut think that
the truth concerning this affair win not
hurt the bank nearly so much as the pol
icy that has been pursued Mr.. McCOr-
nick, l believe, was guided by the advice
of the PinkeTtOn detectives in making the
statements that he has made.
For my part | can see no good rea-
son why the public should not know the
truth of the matter. The actual amount
stolen was Sl06.000. This | know to he
true because Of what has been told me
by the officers of the bank and because
of the report of the United States comp
trOller of the treasury, which was sent
TO the bank. This report gave the amount
as sl06000 and the information contained
in this report I believe was furnished 10
the treasury department by the national
bank examiner.
The actual loss 10 the bank was an
proximately $4,000. The rest was made
good by Mr.. Mccormick personally.
do not think that the stockholders will
be asked to reimburse Mr.. Mccormick Tor
the money that ne replaced in the re
SSA Fc- AiC e1ospvu viii merely De crossed
off. II was a part Of the fluctuating re-
serve and does not In any way affect the
capital stock Of the bank
Inspected by Plnkertons.
Il have just returned from a trip TO
Mexico and am not familiar with what
has been done in the case. / was not in
formed what progress, if any, had been
made in the efforts to discover the rob-
Der and when l returned to Salt Lake I
was somewhat displeased at the condi-
ton of affairs. 1 could see no reason Tor
the statements that had been given out
Continued on Page 2.