Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-09-21

On the AFTERNOON before. Monday
while the Traders bank WAS In the
rush Of closing hour. between two and
three. Mr.. Jacob Trautman, president
OF the Pearl Brewing Company, came
into the bank to lift loan. Al %
curity for the loan he had deposited
some 800 International Steamship
Company 5's, In total value 100000
Mr.. Trautman went to the loan clerk
and. after certain formalities had beer
gone through. the loan clerk went t.
the vault. Mr.. Trautman, who wa,
large and genial German. waited TO,
time. whistling under his breath
The loan clerk did not come back
After an interval, Mt Trautman saw
the loan clerk emerge from the vaul,
and go to the assistant cashier: the
two went hurrfedly to the vault. A
lapse Of another ten minutes, and thu
assistant cashier came out and an
preached Mr.. Trautman. He was no
ticeably white and trembling. Mr.
Trautman was told that through al
oversight the bonds had been mis-
placed, and was asked to return thu
following morning, when everything
would be made all right.
Mr.. Trautman. however, was
shrewd business man, and he. did no,
like the appearance Of things. HI
left the bank apparently satisfied, ant
within 80 minutes he had called up
three different members Of the Trad
ers' board Of directors. At $3.50 there
was hastily convened board meeting,
with some stormy scenes. and late In
the afternoon . national bank exam
liner was In possession Of the books.
The bank had not opened for business
Tuesday.
At 1880 o'clock the Saturday be.
fore. as soon as the business Of the
day was closed. Mr.. John BaiIey. the
cashier Of the defunct bank. had taken
his hat and departed. During the aft
ernoon he had called up Mr.. Aronson,
a member Of the board. and said he
was Ill. and might not be at the bank
for . day or two. As Bailey was high
~ thought Of, Mr.. Aronson merely ex-
pressed regret. From that time vn-
til Monday night. when Mr.. Bailey
had surrendered to the police, little
was known Of his movements. Some
time after one on Saturday he had en-
tered the Western Union once at
Cherry and White streets and had sent
two kilograms. He was at the Green
wood Country club on Saturday night.
and appeared unlike himself. It was
reported that he would be released
under enormous bond some time that
day. Tuesday.
The article closed by saying that
while the officers of the bank refused
to talk until the examiner had finished
his work, 1t was known that securities
aggregating million and quarter
were missing. Then there was q dia-
tribe on the possibility Of such an
occurrence; on the folly of one-man
bank. and Of a board Of directors that
met only to lunch together and to
listen to brief report from the CASH
Ter, and on the poor policy Of gov
eminent that arranges three or four
day examination twice year. The
mystery, 1t insinuated. had not been
cleared by the arrest of the cashier.
Before now minor officials had been
used to cloak the misdeeds Of men
higher up. 1nseparable as the words
speculation" and population have
grown to be, John Bailey was not
known to be in the stock market. His
only words. after his surrender. had
been: Send for Mr.. Armstrong at
once" The telegraph message which
had finally reached the president Of
the Traders bank, in an interior town
in California, had been responded to
by telegram from DIR. Walker, the
young physician who was travelling
with the Armstrong family, saying
that Paul Armstrong was very i'll and
unable to travel
(To Be Continued.)