Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1909-10-27
THE MINERAL POINT AFFAIR.

The defalcation and forgeries that
brought about the downfall of Phil
Allen Jr.. vice president of the First
National Bank of Mineral Point, fol-
owed by the tragedies related by The
Herald last week in the suicide of the
cashier and the immediate death of
his mother in-lav, caused by the
shock in the knowledge of his act and
she closing of the bank. which came
closely upon the heels of the other
troubles, become more and more
deplorable as the the particulars in
the case are more fully known.
Mr.. Allen is a man whU is widely
known throughout this section of the
state aud has a number of warm
friends in this city who are greatly
grieveo and shocked at the disclosures
that have come to light. He was
looked upon in his community as a
most exemplary citizen, man of
monumental integrity and philan-
thropic endeavor. and for twenty five
years has been held mp by fond par
ents as a model for their boys to
emulate He was a leader in the
church and an ordained minister of
the gospel, and enjoyed the unbound
ed confidence Of everybody.
Not only was he manipulating the
bank funds in his many speculations
and covering up his acts by forging
notes of citizens. while the genuine
paper was hypolhecated and the
proceeds used in his deals, but many
thousands of dollars belonging to
elderly residents of the community,
to estates and widows aud orphans,
who had such confidence in his
ability and integrity that the money
was placed in his hands for safe
keeping or investment. often without
even the scratch of pen to show for
it, was also appropriated for his
speculative use, and these people in
their old age and extremity are
betrayed and robbed by the man in
whom they placed the most implicit
faith
Aliens career, as now exposed.
seems to have been of the Doctor
Jekyll and Mr.. Hyde variety. and is
simply astounding as viewed in the
light of facts that are now brought to
the surface.
He is now in Jail at Madison pend
ing the securing of bail, which has
been placed at $50, COCO Instead of
the broken down man whom it was
reported previous to his arrest twas
critically i'll at his home and whose
death might be expected at any
time, he arrived at Madison in charge
of the deputy marshal looking healthy,
vigorous and apparently happy and
care free. Instead of the forlorn
looKing man he had been pictured.
penitent and resigned to his fate,
ready to plead guilty and take his
punishment. he intimated to the
newspaper reporters who visited MIN
that plea of guilty was not con-
templaJeA and that he would make
fight
''If there are any shortages in the
accounts of the First National bank
they were not caused by investments
in mining properties. said Mr..
Allen
81 almost invariably made money
In my mining investments. he con-
tinued. the shortage of $166. 900
charged IN the warrant is excessive.
In fact if the property and securities
turned over by me to the bank were
properly handled they would amount
to between $3.50 900 aud $3.50 900,
There was no money lost in mining
or stock speculations !"
Speaking in reference to the aIlega
tions of forgery and that safety
deposit boxes had been 1riaed Mr..
Allen said: mo forgeries were
committed. neither were any safety
deposit boxes rified. /"
When asked where the money went
Mr.. Allen did OF reply.