The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1912-12-13

3, 1912
will lay before the jury at this time
involves only one item for $4,000,
which Parker secured and took with
him on the day of his flight from
Winnebago.
Banks Exchanged Currency.
The banks in that place were ac-
customed to exchange currency in
meeting daily needs and it is charg-
ed that Parker went to the First
National bank OF Winnebago and
secured either by means of a cash
ier's check or draft on Chicago, the
sum of $4,000. 1t is this act which
will be brought first to the atten.
ton of the jury. 81!
Kelsey Chase, superintendent Of
state banks, made an exhaustive eX-
animation of the Bank of Commerce
soon after it closed it's doors and
it is understood that he and his
deputies found evidence that the
bank had been looted of $4,000 or
more. Mr. Chase will be here when
the grand jury cOnvenes and it is
presumed will start additional ac-
tons against Parker. ss
| There is also chance that Park
er will make clean breast of the
matter, plead guilty and begin SEN
tencer at, once. -'t -aw
.a Was Arranged Today.
John Sharp, arrested at Dexter
| yesterday afternoon at the instance
of the state banking department,
the story of which, appeared in The
Free Press last evening, was taken
to Blue Earth today for arraign-
ment. s.'. A@~- @ si-
The arrest of Sharp was the Sec
ond development i'm the. Bank of
! Commerce investigation. Shortly af-
ter state officials began perusing
the books, H. w. Parker, vice presi-
dent and cashier, left town and was
not heard from until several days
ago, when he was taken into GUS
| tody at West Point, Ga, where he
was living under an assumed name.
He had remarked. Parker confess
ed to having embeZzled $4,000 of
the banks funds. -.
Sharp was brought to Winnebago
after his arrest and released on his
own recOgnizance. He was arraign-
ed before Justice Strout at Blue
Earth at noon today.
1t is expected that the special
grand jury which has been sum
mOned to convene there next Mon
| day afternoon to consider the case
| against Parker, also will take up
the charges against the bank presi-
dent. :
Parker will arrive in Blue Earth
from Georgia at $50 o'clock Friday
| forenoon.
: Charges Made BY State.
Kelsey Chase, state superintend-
ent of banks, said last night the
prevent his leaving the country.
Gle has been away from Winnie,
bago quite bit since the bank
trouble" he said, land we did not
care to take chances. Mr.. Sharp
filed report February 20 last, which
showed that the overdrafts were
$4,000 less than they actually
were, and that the cash on hand
was $4,000 more than really existed
Besides, there were other discrep.
ancies The statutes of 1909 are
wide in scope and it was under
these statutes that we charge
/ Sharp with obstructing the superin.
tendent in the performance of his
duties. -.. ~.a
Mr. Sharp when arraigned in Blue
Earth today waived examination and
was bound over to the grand jury
He gave bonds for his appearance
His attorney is w. Fl. Hodgeman OF
i WinnebagO
Move BY Depositors.
Minneapolis December 5.-H. A
! Johnson of Winnebago, one of the
members of the depositors' commit
tee of the defunct Bank of Com
merce of Winnebago, who is in the
city, was authority for the state
ment made yesterday that the de-
positors had consulted counsel pre-
liminary to taking steps to deter
mine the responsibility of the di
| rectorS.
THE methods employed in the bank
were very loose" said Mr.. Johnson
Harry aPrker was the only man
who knew anything about the af
fairs of the bank. When the insti
tuition closed it's doors its assets
were really in excess of its liabili
ties. However, much of the paper
held by the bank was poor security
The first examination showed that
$4,000 was in poor security First
of all, Parker loaned money to ir
responsible persons. Then he allow
ed friends of his to take up some
of the securities. f.
There are about 500 depositors
who are awaiting the settlement OF
| the affairs of the bank. When the
final settlement comes it is likely
that the depositors will receive
about 80 per cent, perhaps more, on
the dollar"
John Quitting, a young man in
the employ of the Faribault Seed
and Nursery company at Faribault
voluntarily gave himself up the pc.
! lice last evening when he learned
that warrant was out for his ar
rest on charge of beating board
! bill sss.
Quitting has been a guest at the
Commercial hotel at Faribault for
about five weeks and Monday he
left for Morristown on business. In
! the evening he called up William
Mentz, the proprietor of the Com
mercial hotel and informed him that
| his business in MOrristown would
keep him over night and that the
| next day, Tuesday, he would come