Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1909-01-22
ARIfUL ANDY JONES
Something About the Op-
erations Of tn 9 North Da-
kota SWindler

Bralnerd, in which several Little Falls
people are interested, has called at
tention to the methods of Andy
Jones, the North Dakota banker whose
fraudulent notes led to the banks
failure, and who is now known to
have victimized financial institutions
and individuals all over tho country.
Following are extracts from various
papers in regard to Jones and his
system
Grand Forks, Jan. 16.-The opera
tions of A. H, Jones, cashier of the
Rugby National bank, and mayor of
the city, who disappeared two weeks
ago, appear to have been on larger
scale than anyone has supposed and it
IS now stated that there has been dis
covered about $162, 600 worth of value
less paper which has been peddled
about the country by Jones, most Of
which was given an apparent value by
bearing, In addition to the name of
Jones as an individual, his endorse
mefit as cashier of the bank.
is no record on the books of the bank
and because of this Recorder Swords,
who is In charge, has refused to
recognize them. There is a question
as to whether or not this ruling can
be made to stand, and whether these
notes may not be finally recognized as
claims against the bank.
A New York bank, the Hanover,
was the correspondent of the Jones
institution, and this bank IS under
stood to hold some .$22, 600 Of paper.
A Rollingstone. MIMI, bank is said
to have $50, O000 worth of the paper.
A Wisconsin man has SIG, 600 of the
paper, and has sold some $50, 600
worth. supposing 1t to be good.
A good deal of this paper represents
stock in a sheep company organized by
Jones. The assets OF the sheep COM
pany are nil. There are no sheep,
and there is no wool. but Large
blocks OF stock have been sold and
traded, and so far as is known, no
the returns nave disappeared with Mr..
Jones. It is stated that many of the
notes which have turned up were
signed by stable men and others in the
employ OF Jones. and are absolutely
worthless
The belief IN Rugby is that the
actual total of the worthless notes
issued IN this way IS much greater
than has yet appeared, as some
holders Of papers, after sizing up the
situation, and finding that they had
been vlctimlzed, have quietly dropped
out OF sight, the theory being that they
preferred to pocket their losses quietly
for fear Of damaging the credit of the
institution with which they were con
nected.
The state of North Dakota is inter.
ested, having had funds on deposit IN
both the Rugby bank and the Barton
bank, which had close business rela.
lions with 1T. It is reported at Bis,
marck that the deposits in these banks
exceeded the amount permitted by
law. but it is believed that the surety
bonds given the state will be sufficient
to protect it.
Jones had taken an active part in al
the political fights in this section, anG
he was looked on as the local re-
preventative OF the 'stalwart'' element
In state politics. He has beer
vigorously opposed by strong ano
active minority IN his home town,
and he has been charged in the loca
press with the use of methods il
which whisky, bullying and ASSAULT
and battery were frequent and i'm
portant elements.
The Bismarck rumOr IS that II
consideration of the use OF his in
fuence at home his bank was give1
latitude to which the laws did no
entitle it.