Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-07-26
MOST puZZLING DEFALCATION
IN WALL STREET HISTORY
tBy Morning journal Special L~Assa Wtrei

IN WALL SIKEET ifiSIOitl
tBy Morning journal Special LsAssa wtrei
New York, July 25.-A general
alarm was sent out by the police to-
day for trace of Erwin Wider, miss
ing cashier of the Russo-Chinese
bank, although oddly enough the dis
trct attorneys office said tonight, no
aid had been asked of it by the bank
and that no application Tor warrant
lhad been filed
But this contradiction is only one
of series that have kept step with
every development of what is now ad-
mitted to be at once the most puzzling
and the most serious defalcation in
the history of Wall street since Cor
nelius Award stole $606. 600 from the
First National bank, served term in
Sing Sing and then retired TO the Sc
clusion Of a princely country palace
When the Russo Chinese bank first
made public that it's strong box was
short, the amount was given as $50
600, all in negotiable bonds. list Of
which was furnished This afternoon
the amount suddenly jumped TO
$6OO,O00 Of which the additional
$500, 600 is said to be in stocks part
ly owned by the bank and partly by
its customers.
80 positive statement has been
made yet as to where these stock GER
tificates now are, or with what in
tent they were stolen.
Inspector Il. T.. Markowski, now in
charge Of the New York branch of the
bank in the absence on vacation Of
Manager Gertz, says he is convinced
Wider had an outside accompliee.
When Wider entered our employ" ="
explained Inspector Markowski to-
night, "he was modest, exemplary
clerk. Within the last year | feel
sure that some man of strong person.
ality has gained control of him and
changed his whole personality. | am
satisfied that Wider did not steal on
his own voltion or on his own initia-
tive"
II is perhaps with a hope of laying
hands upon the power who shaped the
cashier to his own ends that the bank
has dealt so delicately with Wider.
His counsel and neighbOr l.. r. Gins
berg has said from the first that
the bank was IN touch with Wider,
and even tonight after the general
alarm had been sent out Mr.. Ginsberg
reiterated.
They know where he is, just as
well as | do"
Ginsberg was quick to supplement
this statement with two qualifications.
First, he wishes il understood that In
his attempts to arrive at an under
standing with the bank, he is not try
ing to compound a felony, and, sec
ondly. he charges bad faith on the
part of the bank.
1t was intended 10 have my client
come forward at the proper time.
said the attorney. TO take his medi-
cine: but Wider objected TO being
locked up in the Tombs this hot
weather. when he might be unable TO
get bail. This was his only reason for
keeping out OF the way
on the second count Ginsberg
spoke with emphasis
There was gentlemen's agree
ment that the loss OF the securities
was not TO be made public at this
time" he declared.
THE plan was 90 restore them
without loss to the bank In the fall
but instead of varying out the
agreement. the police have been put
on the case and have been dogged
by detectives.
Il want to say that il was not In
spector MarkoWski who discovered
the loss. He knew nothing OF IL, nor
did any one else In the bank until my
client confessed"
IL was knoun ,-fefprdav that az
least the stolen bonds had been hypot-
hecsted with brokers and that the
bank knew where they were. The
names Of these brokers are stiil with
held. but today the list Of possibilities