The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-07-26
Emp|oye Has Disappeared
With Largs Amount Of
Banks Securities
CIRCUMSTANCES OF CASE
APPEAR VERY PECULIAR
Counsel For Missing Man Says Bank
Officials Know Where He Is and
That They Promised Not To
Raise An Otucry

| New York. July 25.-Wanted. Erwin
Wider, about 80 years old, five feet five
inches in height, weight about 135 pounds,
swarthy complexion with a small black
moustache curled at the ends; wears rim
less nose glasses; talks with German ac-
cent is timid in address.
The foregoing general alarm sent out
by the police today for the missing
cashier OF the Russo-Chinese bank it Is
believed will bring results. The dis
trict attorneys office said tonight no
aid had been asked of the department by
the bank and no application for war
rant had been filed.
| The contradiction is only one in series
of incidents 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 Cornelius Al
word stole s606,0O0 from the First National
bank, served term in Sing Sing and
then retired to the secluson of a princely
country place.
When the Russo-C Chinese bank first
made public the fact that its strong box
was short, the amount was given at $780,
900, all in negotiable bonds. a list of
which was furnished. This afternoon
the amount suddenly jumped to 100000
of which the additional $4,000 is said to
be in stocks partly owned by the bank
and partly by its customers.
No statement Made
| No positive statement has been made
yet as to where these stock certificates
now are or with what intent they We're
stolen. or whether itrwas Wider, $ inten-
ton to hypothecate them with brokers
as collateral for stock speculation or to
realize on them and plant the proceeds.
No list of certificates or of the
owners in whose names they stand on
the books of the companies by which they
were issued is available.
Inspector E. Markowski now in charge
Of the New York branch of the bank
during the absence on vacation of Man.
ager Gertz says he is convinced that
Wider had an outside accomplice.
when Wider entered our employ" ex-
planned the inspector, "he was modest.
|
feel sure that some man of strong per-
sonality has gained control of him and
changed his whole life. I am satisfied
that Wider did not steal of his own voli-
tion or on his own initiative"
1t is said a hope of laying hands on the
person who shaped the course of the
cashier has become almost a certainty.
Wider's counsel, L. R. Ginsberg, declares
from the first that the bank was in touch
with his Client and tonight after the gen.
eral alarm had been sent out Mr.. Gins
berg reiterated they know where he is
| lust as we'll as | do"
Ginsberg's Reasoning
| Ginsberg was quick to supplement the
| foregoing statement with two qualifica-
| tions. First, he wishes 1t understood he
| said that in his attempts to arrive at
| an understanding with the bank he Is
not trying to impound felony and Sec
ond he said he charges bad faith on the
part of the bank.
"It was intended to have my client
come forward at the proper time said
the attorney land take his medicine
but Wider objected to being locked up In
the Tombs during the hot weather when
ne might be unable to get bail. That
was his only reason for keeping out or
the way"
On the second count Ginsberg spoke
with emphasis There was a gentle
mans agreement that the loss of the se-
curities was not to be made public at
this time he declared. 1.-THE plan was to
restore the securities without loss to
| the bank In the fall, but instead of car
| rying out the agreement the police have
been put on the case, and I have been
dogged by detectives myself"
at want to say it was not Inspector
Markowski who discovered the loss'' sald
the attorney. 'as he did not know about
it. Nor did anyone at the bank know It
until my client confessed"
| How Bonds Disappeared
| 1t was made known yesterday that the
stolen bonds had been taken with the
| knowledge of brokers, and the bank knew
where they were. The names of the brok-
| ers are still withheld. Today the list
| of possibilities narrowed down to two
well-known houses.
1--WE shall Institute suits to recover
| from two-well known Wall street firms
the securities they obtained from WIDER
said Inspector Markowski. ''They knew
he did not own them"
On this score a prominent attorney not
connected with the case said the court
of appeals of this state had decided that
there is no such thing as an innocent
holder or buyer of stolen securities, and
added that the owners may recover from
the holders -
The Russo-Chinese bank is credited In
Wall street with possessing a capital OF
Sis, 100000. 1t could not be learned today
what assets or capital are credited to the
branch in this city. The New York
branch Is not under the jurisdiction of the
state banking department as 1t does not
attempt regular business in deposits. 1t
makes loans with foreign funds.
The New York branch was established
in 1907. 1t has as correspondents the
First National and the National City
banks of this city and the First Ma
tional bank of Chicago.
Fear of Crop Damage