The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1912-04-25

Commercial Savings bank In Albion,
resigned and became secretary and
treasurer OF the new company. In re-
organizing the company gave mort
gage on its property for $4,000 to the
bank.
About the time of the reorganiza-
ton, j. III. Cook, a former salesman,
came over from Homer, Mich, ana
interested us In the gasoline engine
business" said the younger bearing
"His plan looked so good to Us tnat
we were I'm fever OF excitement. we
counted too much on our hopes. EV'
erything between the bank and the
company up TO that time had been on
the square. started the crookedness
I'm this way. When a man gave me
his order for an engine drew sight
draft and turned il into the bank. get
| ting the cash and taking up the draft
when the man paid. II started In
legitimate way. but pretty soon the
money was slow in coming in. we
had 40 TO 90 men working for us at
times. and we had TO have money TO
huy material Then the thought
! struck me TO put q note in the bank
and get the money. always expecting
, the business TO pick up and redeem
the note. IL started In such small
way. the prospects looked so bright
that Il never occurred TO me at first
what MIGHT follow. II requires a
lot OF capital to run a businss OF this
kind; the companies with capital be-
hind them sell their engines on three,
four and five years time"
Always a Little Behind.
THAT was the only trouble, put IN
the elder Mr.. bearing. I'VE lacked
the capital. We were always taking
from the bank, but were always just
little behind the game. The total
sum taken looks big, but We never
took enough at any one time. because
Ii looked to be too much. II we had
had plenty of capital there is no
doubt we would have made a success
OF the business"
Eyes. | understand that the receiv-
er figures we were just S42 behind the
game every day we did business,
sighed the younger bearing, looking
at his father.
Now, that is a mighty good engine
and some one could make a lot, or
money on 1t IL he went into 1t In the
right way" he continued. What, |
90 back into Il? I am going to strike
out for the west when / get out OF
prison, and I'm. going to go on a
stock farm. My wife is going TO Ster-
ling, H., until then AMI work Tor her
sisters, and in that way she will keep
herself and our two boys until | get
out. Then we will go out west
The younger man could not restrain
his emotion as he spoke OF his family
and that far-off time when they would
go out west.
Returning to the thread of his story
young bearing said:
my fault was not only in taking
money from the bank through my
father. 4 had an open account ON the
bank through the Cook company, ana
u had overdrawn that account Tor my
own purposes. But the company did
not lose anything through that. be-
cause I turned over TO them deed
to my SS-acre farm, all my farm tools
and stock, to the value Of nearly $6,-
600. They were amply repaid for all
II took from the Cook company. And
what became Of Cook? Well, he step
ped out of It long ago. wish / had.
III had 140 shares worth $40 share in
the company and was in hope OF
lseefffx things go differently.
X Would Take An the Blame, 80
sIf 4 co,iidNhave taken all the blame
and all the punishment for the whole
shortage and thus shielded my father,
n would gladly have done so. In fact,
| thought ! could at first This was
how the exposure was brought about:
II was going home, New Years night,
when a friend asked me il I had heard
that the bank examiner had closed
the banks doors. had not known
of it. but i fastened to father. |
could not say much, because his wife
was there. but he told me he knew
the doors had been closed. The fol-
lowing morning we made a clean
breast of the affair before the bank
examiner. We even picked out the
bad notes for him"
Father and son paced back and
forth in the same cell block, each
convinced In his own heart that he
was to blame for the others misfor-
tune, each willing to bear the misfor-
tune OF the other, each comforting
the other.
Judge Angel was very good to
u.s." said the elder man. Perhaps We
might get parole in couple OF
years. i have hopes OF coming out Of
this trouble alive and living a few
years with my family. do not wish
to see them while | am in the peni-
tentiary--that Is, / don't wish them
to see me too often. II win sadden
them the more and do little good.
Il feel better today than I have for
years, physically. Why, would you
believe It, enjoyed the best nights
rest in years right here in this Jail
after had unburdened myself of my