The Hartford republican. (Hartford, Ky.) 18??-1926, 1910-07-15
'EMBEzzLED
BANK FUNDS
Uses Money Belonging to
Fidelity Trust Co.
Gambled in Stock With Resul
Disastrous to Employees
and Himself.

Louisville Ky, July 11.-StocE
gambling and speculation is said tc
have been the direct cause of the ar.
rest this af ernoon of August ROpke
bookkeeper and assis ant secretary oil
the Fidelity Trust company, on a
charge CT embezzling, the banks
funds. Il is authoritatively stated
however, hat though the chragt
against him in the affidavit is for only
5000, the amount of the banks
shortage will be many ines tina
amount.
Ropke was arrested at 1:3O
o'clock in room 30l at the Gait
house. where he had spent the las,
two days in company with two de-
tectives. He has been under close
surveillance for the past ten days.
The warrsnt for his arrest was
sworn out by John w. Barr, Jr.,
president CT the bank, who WIS ac-
companied by Norton Goldsmith, the
banks attorney.
Ropke was presented in the po-
lice court before Acting judy
Cooke, who fixed his bond at $25,-
900. Nd application for bond was
made, and Ropke was taken 10 Jail.
The specific charge in the affidavit
is that August Ropke made n false
entry in a book owned and belonging
to The Fidelity TruAs company. with
the felonious and malicious intent OF
cheating, and defrauding said COM
pany. -. ~
ROpke, who has been m the en-
plov Of the Fidelity Trust company
as a clerk and bookkeeper for the
pas: eighteen years, Is a son of the
late John II. Ropke. a former dlrec-
tor of the German Insurance bank
WHO died about eighteen years ago.
The eldr Rcpke was, in his time.
one of The leading German citizens
of the community and widely known
as a man of in egrity and financial
responsibility. The mother has been
dead about five years.
Ropke resides at 1892 Hepburn
street. where he has a wife and ore
son. about fifteen years Of age. He
also has two brothers, will Ropke
and John Ropke.
What became of the money which
Mr. Rcpke is charged with taking?
No ono for moment entertains an
idea that he. has any appreclable
amount Of it now. practically every
one says it must have been lost in
speculation and in this connection
here are reports that he has for a
period of five or six years been one
of the heaviest spectators in the
city. It is said that he has not only
specula ed in local bonds, but has
specialized heavily in New York.
He traded through several broker
age houses and also through three
Or four bucket shops. 1t is said the
commissions en- his business at II IL
cents a share have been running be-
'ween $4,000 and $4,000 a year.
Orders for 1000 shares it is said,
were frequently executed for him. 1t
seems that he distributed his BUSH
ness in such a way that the houses
handling it never had occasion tol
think he was over-,rad.ng. 1t is said
he kept his margins up.
One phase of his SpeculatiOns was
to whipsaw the bucket shops. As
an example, 1t is said he would sci
a thousand shares or sometimes sew
eral thousand shares in a bucket
shop az the quotation at the time Of
the order. He would then place an
order with Legitimate broker to sell
On the New York stock exchange the !
same stock, 100 shares at a time, I'M
til the stock declined a point or
more, and then he would order the i
bucket shop to close out che transac-
ton and buy back the stock sold in |
New York. OF course. this plan did
not always work successfully but 1t
Is, said that it worked more often
than it did not, and that it was so
successful that the bucket shops
ceased taking his orders.
1t was stated by one man to-day
hat Rupke is said to have won be-
,ween 100000 and 100000 in