The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1920-04-06


GEO. ALEXANDER
IS PARDONED
Armed with pardon from Gov
ernor Edwin Morrow, George Alex
ander, former banker, accompanied
by his faithful daughter, Miss Kate
Alexander, left the Frankfort Re-
formatory, behind whose walls he
had spent five years, yesterday after
noon, a free man. The pardon was
granted late yesterday afternoon,
and was taken IN person by Miss
Alexander to her father. Rumors
had been in circulation for some
days to the effect that the pardon
would be granted this week, and
yesterdays happening marks the
end of long wait.
For several hours yesterday THE
NEWS endeavored to learn whether
the pardon had been granted or not.
A message was sent to The Frank
fort State Journal, with a request
for definite information. The reply
came at six o'clock, as follows:
frankfort, KY, April S.
THE NEWS, Paris, Ky.
Alexander pardoned. He and
daughter, in Will Stolls car, left
Frankfort, destination Lexington.
"THE STATE JOURNAL"
Miss Kate Alexander. daughter
of the former banker, has labored
indefatigably to obtain a pardon for
her father.
Alexander has. served approx
mately five years of a practically in
definite sentence. Those who know
Alexander say that few of his most
intimate friends would recognize
him to-day. When he entered the
penitentiary he was man of distin-
guished bearing, and apparently in
perfect health. He is said now to be
literally a mere shadow of his for
mer self. His health is reported to
have been shattered, and it is said
that Governor Morrow consented to
pardon him largely for this reason.
Failure of the Alexander State
c;e, nf he
biggest financial sensation in the
history of kentucky. Hundreds OF
depositors, a great many OF them
persons of limited means, lost all
their savings in the crash. :
Repeated efforts were made to
obtain the release of Alexander
from the penitentiary, but all re-
suited in failure until yesterday.
Upon the closing of his banking in
stitution, known as George Alexan-
der & Co., State Bank, May 10,
1914, Alexander was considered to
be among the most prominent and
respected citizens of Central Ken
lucky. He and his family were So
cial favorites They belonged to a
distinguished family and until the
failure of his bank, Alexander was
regarded to be man of considerable
wealth. He was majority stock
holder of the company, and so great
was his prestige that even when
those "on the inside" doubted the
solvencV of the bank, it's stock
changed hands at approximately
$3.50 a share few weeks before the
crash.
Even after the closing of the
bank a number of the depOsitors
believed implicitly that Alexander
promptly would cover any deficits
found by the examiners. When,
however, suspicion was confirmed
that the shortage would approach
quarter of million dollars, and
that it was due to alleged irregular
tiles on the part Of the head OF the
firm, no surprise was occasioned
when the announcement was made
that the institution would not be
reopened, but would have to go
through the long process of liqulda-
ton.
AS the firm was not national
bank. but was in business under a
State charter, the arrest and sub
seuunt prosecution and conviction
were brought about under the juris-
diction of State courts. He was SEN
fenced to and since has been confin-
ed in the Kentucky State Prison.
The failure, the prosecution and
the conviction attracted widespread
interest, not only because of the
commence of the A1exanders, but
cause of the extensive loss to de-
positors of all rank and conditions
of life.
The pathetic element of the case.
aside from the losses suffered by the
depositors, was said to be the sorrow
and humiliation visited upon the
family of the defaulting banker.
I Relatives sought to sustain and
comfort him both before and after