New-York tribune., 1912-04-07

was stolen have been and still are under
constant watch.
more serious defalcation than that
which has now been disclosed was SUI
fered bv the Windsor Trust Company
in The summer Of 1907. Chester B. Run
van. the paying teller. disappeared on
June %. taking with him in suitcase
$4,000 of the company's money. he
was arrested on July : in an uptown
fat. in which he was living with Laura
NJ. Carter. whose acquaintance he had
made in the street two or three weeks
previously. This woman, who had seen
his picture in the newspapers, informed
the police where he was concealed
Runyan's total thefts amounted 10
around $4,000. Of which about S15,Ooo
had gone in stock speculation some
time previously.
At his trial he testified that he had
given the woman $15,SO0 in all. IT was
supposed by him and by the police that
she had taken another $4,000. making
up the total amount which he had car
ried off, for S54,41O were found in the
suitcase in the apartment when he was
placed under arrest. Runyan PLEADED
guilty to the charge of grand larceny
and was sentenced on September ii,
1907. TO seven years in state prison.
Figures in Another Theft Story.
Two years later. in August, 1909, the
Windsor Trust Company figured in an
other story of theft, although not itself
this time a loser financially. This was
the complicated case of the disappear
ance Of Davis DAILY Copper and Ohio
Copper stock. which had been deposited
with the trust company as collateral for
a $50, 1000 loan obtained by NJ. M. Joyce,
friend Of F. Augustus Heinze, the
principal owner of the two properties.
Joyce thought the loan was from the
trust company, and the $4,000 stock
which he put up as collateral for the
loan was pinned to his note for the 500
600. on his understanding that II was 10
be held by the trust company. Within
q day or two however. the stock GER
tihcates were again in his hands. hav-
ing been delivered on buying orders
which he had executed in Davis Daily
and Ohio Copper Some one had paid
off the loan and taken up the security,
and Joyce went TO the District Attorney
to have the mystery cleared up.
The Windsor Trust Company declared
that 1t had not acted as a principal in
nd he avI r,c
Jerome later In open court exonerated
II from suspicion of wrongdoing. Sterl-
ing Birmingham. head Of its loan de-
partment, who had had charge of the
transaction, was dischf ed by the COM
pany.
Donald l.. Persch. note broker;
Charles Katz. president of a brewing
company, who, according to a represent
ative of the trust company, made the
loan TO Joyce. the company acting
merely as clearing agent; Walter L..
Clark, a loan broker. and John S. Sher-
wood. who also figured in the transac-
ton. were indicted for grand larceny
and Leonard ]. Field was indicted for
grand larceny and perjury
kdtZ was COnNlCleu anu was senleHCSu
to a term Of not less than three and not
more than seven years. The Persch
jury disagreed. as did the jury in the
trial Of Field on the perjury charge.
Clark and Sherwood were not brought
to trial. Civil actions We're brought on
behalf Of Henze against Fields firm
for heavy amounts.
John Alvin Young resigned the presi-
dency of the Windsor Trust Company
In January, 1911, being succeeded by
August Heckscher, who announced that
he would serve only temporarily, and in
June of that year Clark Williams was
elected head of the institution. Strong
financial interests are represented in the
mamherSbip of tho hoard