The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1921-07-22
ICY" Thomson Has Had
Fall From Pedestal
NONE GO ON BIG BOND
Twenty-Five Thousand Dollar
Security Is Not Receiving
The Signatures
Associated Press Dispatchl


Austin, Mimi, July IA. w.
Wright, counsel for Thomson, an
nounced today that no effort would
be made for the present to obtain
his clients release on bail, as he
had learned the prosecution would
cause his re-arrest on new charges
600. This amount, Mr.. Wright
said, could not be raised.
Austin, Mimi, July 19.-Audit
Of the accounts of r. J. Thorn
son, former comptroller of the
George A. Hornet and company
local packers, so far show a
shortage Of $4,000, it was an
. nounced today by Jay c. HORNED
vice president of the company.
Mr.. HORNED made the announce
ment after a conference with two
groups of auditors checking the
eompany's books. Thomson, who
has confessed to the defalcations,
Is in the county jail as he has
not been able to furnish $4,000
bail.
The auditors have practically
finished their work, Mr.. HORNED
said. A complete statement detail
ing the manner in which Thomson
worked will be announced at a
meeting of the corresponding banks
Of the HORNED company to be held
at Chicago tomorrow morning.
The shortages date back to jan
uary 1, 1916, the auditors found,
the heaviest specuIations occurring
since that time. The amounts grew
lighter as the auditors worked back.
The heaviest single item disclosed
thus far is $4,000.
The total valuation of the three
Oakdale farms was placed at ST.
SOC, 900 J. c. HORNED stated, for the
benefit of the creditors of the Oak
dale farms. The indebtedness of
farms ,approximates 100000. Thorn
is still held in the Austin Jail in
lieu Of SOS, 900 bond.
Austin, Mimi, July 19.-Effort
were to be renewed today to obtai
$25, 900 bail for Ransome J. Thomson
former comptroller of the Geo.
HORNED and company, packers, spe
officially charged with misappropriat
ing a $4,000 check of the compan
but who has admitted embezzling q
least $4,000. Thomson was arreste
and spent last night in jai
Thomson, once the idol of tw
enterprises attracted national atten
ton, apparently had lost his host c
former friends for none would com
comment of citizens, it was indicate
hof hnA Fol - he
timation of the public since his ar
rest. Until he was taken into custod
scores Of persons voiced their belle
that he would come through hi
q, oubles all right and that his recog
nized leadership in all big project
o the city and county would carr
him through.
How The Scheme Was Worked.
Austin, Mimi, July 19.-Furthe
details of how Cy Thomson covere
his shortage became known when
was stated that he had an amazin
check hting' system in operatio
for years, which kept funds on han
to eQualize the amounts he appro
priated from the HORNED compan
and placed to the credit of his Oak
dale farms.
Using Boston banks in some case
1t was said Thomson would draw
HORNED company check to cover til
amount he needed. 1t took five day
for the check to get back to Mime
sofa. At the end Of that time b
would write a check on an institu
ton at this end to cover the Easter
bank. The checks were kept passin
each other for years.
This" said one of his associate
at the plant, explains, perhaps, VIII
Cy never took vacation. II
couldn't afford to be away when hi
checks came home"