Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-12-27
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PRISON TERM MAKING oooD s
His DEFICIT.
SHARES PROFITS SINCE
RELEASE WITH pEpoeIroAS
Deposits 80 Per Cent Of Earnings VIII
Chicago Man Who Caused Arrest
After Lens esareh-sts nsland Flsd
TO Moroceo-Msds cenfsssien In
Which Hs Blamed Cashier.

uhas Tdu1 ~ otcnsianu. 1oTme1s pIeBi-s
dent OF the milwaukee, Avenue State
Bank. arrested In Morocco and par
doned after serving a part OF his sen-
tence. Is now working to repay all de-
hcits to depositors OF the bank. was
made last night by James Kelley. who
brought about Stensland's arrest. The
statement was made at dinner given
by members OF tho Chicago Association
of Commerce to sons Of members ae
Hotel LaSaiie.
Mr.. Keeley had been introduced by
the toastmaster. Edward e. Gore. as q
man who had sold newspapers. had
been a boot-black and had made 4ooa
tracing a banker who had proved dis
honest In response Mr.. Keeley said:
"The banker whom they say I
brought back ] wish to say has come
back. He went TO the penitentiary
anu stayed tIoro four years. no casmu
out. Two days before Christmas this
year no called upon mo and was the
happiest man have seeo In ten years.
willing sc 9e@.. l=.===
'Hc 10 on his feet again. He has
made some money. but he has taken a
certain percent Of that money-over -
1t II In my hands tonight-and he
hopes to add to It until he can pay Off
the IL per cent that was not paid by
the receiver Of that bank.
Tho man was coward when ho
ran away. His bank was solvent, He
could have taken million dollars from
the vaults In Chicago had he been a
thief. and he could have taken 5000. 900
that was on deposit from New York
banks.
II want to tell you that there 10 :
man who has been in tho depths and
who has como out again and - making
good. He II going to be Q citizen agnln
and there IN no man that know any
where for whom have moro love and
affection than Paul o. stensland.''
When this statement was reported to
John c. Fetzer. Of Hinsdale. Ill, re-
cetver for tho bank, he said that tho de.
posfts In the bank amounted to about
$5,0oo.000 and that 80 percent OF this
sum remained unpaid. He did not
comment upon the reported attempt to
restore the lost sum.
Fled 20 Morocco.
Stensland fed to New York on July
49, 1905, and from these went to Moroc-
co. On. Aug. 6 state Bank Examiner c.
c. Jones officially closed the doors of
the Milwaukee Avenue bank. Stems :
lands whereabouts were unknown
At that time 1t was announced that
the bank president had forged notes
and absconded with 100000. His SON.
Theodore Stensland. vice president OF
the bank. announced that he believed
his father was in st. Paul 1t was es-
timated that the bank was nearly
s2.ooG.o00 short and suspicion turned
also to Cashier Henry W. Herring.
| The bank at that time had $4,000
deHositors.
Early in September OF the same year
It became known that Stensland had
been seen In Tangier, Morocco. and
that detectives were close on his trail.
Assistant States Attorney Harry Olson
! finally arrested him in n hotel In Tan
gier on Sept. 3. and the banker con-
fessed to have stolen $780, 900 OF the de-
| positors' money.
Blames Herring.
| He made full confession and charg-
| ed Cashier Herring with being his evil
genius. He said that Herring was re-
/ sponslble for the balance of the short :
age 81. 100000.
one of the foremost educators in Ar
! The formal complaint against Stems
J land was signed by several OF the direc-
| tors, chief among whom was NJ. A. La
Buy, who signed n complaint charging
Stcnsland with embezZlement and for-
gerry of notes amounting to s1.0o3. 400.
Stensland was sentenced finally to an
jindeterminate term of from one to ter,
years In Joliet penitentiary. Herring
was arrested and also served time.