The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1909-12-03
WHAT WENT WITH
BIC FOUR MONEY!
Warmer Claims to Have Lost
It In Speculation
ONLY PART ACCOUNTED FOR
Balance of ss25,ooo In WARMERS De-
falcation Cannot Be Explained
Even BY Search of Stock
Brokers Books.
ONLY PART ACC JUNTE0 FOR

Cincinnati, December More than half
of the $643.000 which Charles l.. Warmer,
former local treasurer of the Big Four
railroad, admits to have been stolen from
the railroad cannot be accounted for.
The indicted treasurer has furnished a
statement which accounts for $3lS,W0 sS4,-
900 of which he says was paid in black
mail and claims that the balance of $780,
900 was lost in speculation. The IN
quiries OF the railroad officials detec-
tives and lawyers have completely failed,
however, to substantiate the explanation.
According to Warmer he carried on
his stock market operations through the
New York brokerage firm of Henry
Clews & Co., but an examination of the
books of that concern, it is said, show
that in the entire course of his transac-
lions with them he could not have lost
more than s17oW.
With every succeeding day the mystery
which surrounds the gigantic defalcation
deepens and daily rumor supplies new
names to be linked with the great theft.
But the question which perplexes the
railroad officials is What became of the
money!" The grand jury will resume its
inquiry into the case tomorrow, and
subpoena has been issued for Frank M.
Couden the federal official who claims to
have given the New York Central author
tiles their first intimation of the en-
bezzlement incidentally Mr. Couden de-
clared today that the sole motive FOR
his action was commercial" He claims
to have been promised a reward which
he has not yet received.
Mr.. Couden would not say what amount
he expected to receive. as reward for
his information. He declared that the
matter was in the hands of his attorney,
United States Senator Charles Dick. At
the same time he made the rather start
ling statement that he had known of the
shortage for the last 10 years.
In his statement regarding the War
riner exposure Mr.. Couden, who is CASH
Ter In the office of the local federal col
lector of customs, says his Information
regarding the shortage came to him
through Chicago man who was for
merly connected with the Big -Four in
this city. Detailing today how he came
to tip off the Warmer story as alleged
to President Brown of the New York
Central Mr.. Couden said:
IT went to Washington on business
in which Senator Dick was interested.
You might say 1t was a sort of political
fight in the Sixth congressional dis
trict Dick and myself went to luncheon
and during the conversation l hap
pened to mention that l had heard OF
the shortage. He said that 1t was my
duty to inform the railway officials
about the matter. / told him that
was doing a wrong in not telling II,
that wrong had been of long standing,
for l had known for about ten years
that there was some crookedness In the
local financial department of the Big
Four. However, Senator Dick impressed
me with my duty and said that II
would agree to 1t he would arrange
meeting for me with President Brown.
The meeting took place and l told all
that 1 knew. Now, recollect. 1 did
not then know all of the details that
have since come to light. l originally
got the story from - - himself
about ten years ago and have known
it ever SINCE"
Senator Dick, while in Columbus yes
terday declined to discuss the matter,
saying that Mr.. Couden was his client
and that the latter had doubtless made
public such facts that he thought prop
err. 1t is not known whether or not SEN
ator Dick will be asked to come here
to give testimony before the grand jury.
but it is regarded as probable that such
a request will be made, inasmuch as
he has been mentioned in the affair as
attorney for Couden.