Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-03-14
Utah NATIONAL
POSTS A REWARD
nireotors Authorize $4,000 for
information Leading to Con-
ylction Of Guilty Parties.
STATEMENT TO THE PUBLIC.
ooiciaI Review Of Facts Surrounding
The Now Famous Bank Rob
berry of s1o6,2oo.

AS the result of a long session of the
siroctors Of the Utah National bank
,,otd Yesterday afternoon a reward OF
s,oOO was posted for the detection of
,ho thief or thieves who participated
l., tho robbery, and full statement
~ FACTS was issued to the public.
The notice of reward is as follows:
rho 1rtah National b anlS hereby Of
f..s a reward of ten thousand 100000
dollars for information leading to the
rrest and conviction of the party or
nerties guilty of the theft.
". s. MCCORMICK, President
r. n. BADGER, Cashier.
with this notice the statement given
below came from the directors of the
bont. IL having been unanimously
agreed TO by all directors except John
Henry Smith and j. P. Gardner. who
were absent from the meeting owing to
not being in the city:
ITO the Publio-In view of the many
conflicting reports which have been
placed in circulation concerning the
theft of funds of the Utah National
gossip and rumor, made and circulated
In the community, we make the follow
ing MS an accurate statement of facts:
con Ian. H. 1908, it was discovered
that the sum of $106,250 in cash had
been feloniously taken from the vault
of the bank. This discovery came ut
a time when the feeling of uneasiness
and apprehension as to the financial
situation was still prevalent through
81, nv
trusted our strongest institutions. The
responsible officials of the 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
precipltate widespread disaster Ac-
cordingly. upon the advice of experts
employed on the case, and by conf
mon consent, the facts were kept from
the public Immediately, at the expense
OF the bank the services of the Ptnker-
ton detective agency were secured and
they have ever since been and still are
in charge of the case
$63,250 PLACED IN BANK.
mir. w. S. Mccormick, the president
and owner of q 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 inn
mediately, at once placed in the bank,
by way of voluntary contribution, the
sum of $63250 in cash, Mr.. Mccormick
furnishing $4,000 and Mr.. Nelson Sl3,-
$50. The surplus of the bank, as will be
seen from its published statements is
sued prior to the discovery of the theft,
was in excess of $4,000. After the
contribution made as above stated, the
let loss of the bank was $4,000, and
this LOGS. il will be observed, in no
way inpairs 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 as a voluntary gift or con-
trbution and 1t rests with the stock
holders of the bank as to whether 1t
will be refunded to them.
From the first the Pinkerton agency
has had responsible charge OF the in-
yestigation and the work of detecting
the criminal and recovering the money
stolen. Acting upon the advice of their
men the information was given out
that the loss of the bank was $4,000.
1t was thought that this was as much
as the public was interested in know
ing. The fact of the loss and of the
payment made to repair the same, and
the exact condition of the bank, to-
gether with the steps being taken to
discover the guilty party We're reported
TO the comptroller OF the currency,
and his acknowledgment of the receipt
OF this information with a request to
be kept advised as TO the progress of
the investigation, is on file.
PINKERToNS HAVE CHARGE.
THE Plnkerton agency stll 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 % recover the money taken, and
the Utah National bank hereby offers
reward of $4,000 for information
leading TO the arrest and conviction Of
the party or parties guilty of the theft.
I'VE ask the public to bear In mind
that We are charged with the duty. not
only of detecting and exposing the
guilty, but of protecting and vindicat>
Ing tho innocent We do not propOs,
10 let anything interfere with this rn-
suit We are acting as far as possible
under the best advice we can obtain.
We are certainly more interested as
officers and stockholders of the bank
lhan any one else can be. and we ask
That the public suspend its Judgment
IN respect to matters not fully UNDER
stood until further Developments are
made
wv. S. MCCORMICK.