Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-10-24

house in Copenhagen in a style that
never before had been attempted by
any subject of the king He bought the
controlling interest. in the leading
Danish paper. the Dannebrog. and
welded through its columns immense
political power Members of parlia-
ment flocked to his house for help and
advice. bankers and financiers sat in
his waiting room to obtain the views
of the great man. artists and writer's,
young government officials and Off
GERS of the army and navy competed
for his favor in order that his vast
influence might assist them in their
respective careers.
WIFE ONCE A BARNARD.
When Nine Albert, who had begun
life as barmaid and had become his
wife during his early years OF dissipa-
ton, after his divorce, sent out invita-
tons for dinners and receptions, the
most select representatives of the
highest and most exalted circles of
Danish society came TO sit at her table
and to sue for a glance and smile ar
her gorgeous social gatherings Al
berti was more influential than the
prime minister himself. and he exploit
ed his power to the uttcrmost.
METHODS WERE CLUMSY.
One of the curious features about his
financial frauds is that they were per-
pretrated with extreme clumsiness and
with practically no attempt at conceal
ment and without any of the tinesse
which would have attended the
sWindling operations Of real ffnanc-
Ter. Albert carried out his operations
by pure bluff, relying on his high repu-
tation and great influence to escape
detection. The accounts Of his differ
ent companies aud institutions were
revised in u slipsfod and SoYenly way.
and Albertfs statements and figures
We're accepted by the auditors without
the least question. He made false en-.
tries amounting to tens OF thousands
of dollars, and they We're not detected.
He declared that the savings bank pos
sessed securities 10 the value of
two million dollars and no one cues
tlonel his assertion and no one asked
TO see what securities they We're He
declared that the fire insurance COM
pany had n reserve capital Of one mil
lion dollars. and no one asked him
where this capital was invested or what
he had done with 1t. In the same
way he persuaded the members of the
Danish Farmers Syndicate that thcy
commanded n reserve fund of more
than one hundred thousand dollars.
and precisely in the same way. they ac-
cepted his account without question
and implicitly believed in the imam
cial soundnes Of their business.
GOVERNMENT swINDLED.
Alberti.s greatest and most audacious
coup was achieved when he persuaded
the government TO lend 100000 to the |
iceland Savings bank, OF which he had |
supreme and absolute control. The
government had so much confidence in 1
Altarti that this large sum vas lent |
10 the bank on the most slender securi- |
i 4 I. l.
L and squandercd IL on his own per-
,onal pleasures. The sum total Of
all his financial frauds on the govern
ment and oil the shareholders In the
different companies which he directed |
and on private individuals by means '
IF transactionsaof a smaller character I
amounted to s7.500,000 These frauds /
we're spread over a period OF - years t.
4nd thus yielded an average yearlysin- I
,omc OF $500, 900 from the swindling OPP
.ratious. which, in such a small coun- |
ny as Denmark enabled Alberti to I
igurc as the Danish Rockefeller.
During all these years Of deception +
md fraud Albert was not only the
most powerful man in the country, but 7
friendship of the king and princes of
he royal family, ana was admitted
RELY to the innerncst royal circle as. a
avored aud honored guest.
BETRAYED BY WOMAN.
a few months ago the attacks of the
newspa per, the Politiken,
,egan 10 shake the foundations of AL
ertiis unsound financial structure. Just
It that time Alberti celebrated his
ifty-seventh birthday. Curiously
nough It was his old=loHe for DISH
alton that led to his downfall One
f his women clerks whom he