The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1922-10-21
j. s. MARSHALS
MAKE ARRESTS
IN BOND CASE
President of Midway State
Bank st. Paul Makes
Statement
ACTED FOR CLIENT
More Than Three Million of
Stolen Securities Market.
ed In Twin Cities

Minneapolis, Oct 21.-Deputy
United States Marshals today con-
tinued their search for the re-
mainder of the 28 persons indicted
by the federal grand jury on charges
Of violating the penal code in con-
nection with the disposition Of
bonds stolen in mail truck robberies
in New York and Chicago.
Nine OF the indicted persons had
surrendered yesterday and several
others indicted they would do so to-
day. All those taken into custody
were released on bail.
Lafayette French, United States
district attorney for Minnesota,
said today that the bonds referred
to in the idictments were circulated
practically in New York, Chicago
and the Twin Cities.
"Chicago," he said, "seems to
have been the clearing house. Fully
$1,000,000 were circulated in Mime
apolis and St. Paul. These are be-
lieved to have been brought here
from Chicago by two men who then
were aided by local accomplices."
"Some of the buyers undoubtedly
had guilty knowledge that the
bonds were stolen. Other persons,
however, were no doubt innocent
purchasers believing they we're OBJ
tanned legitimate securities"
In this connection, "A. B. Christoel-
son, president of the Midway State
Bank of St. Paul, who with the vice
president Of his bank, were arrested
yesterday, declared that his bank
had been unwittingly involved in the
disposition Of stolen bonds through
handling them as security for a
client in deal. ..'..
Arrests in the bond theft case
reached ten today when Clarence
Radcliffe was taken in custody. He
was arrested by deputy United States
marshals and lodged in the Mime
apolis city Jail. 1t is expected that
he will be arraigned today.
Postal inspectoAs whose investiga-
tions of the two sensational mail
robberies which led to the indict-
ments of the 20 persons on charges
of dealing in stolen bonds have un'
earthed $750,000 worth of the secur.
tiles in the Twin Cities, it was said
today, by Lafayette French, Jr
United States district attorney.
It was estimated that 100000
worth of the securities had been
brought to the Twin Cities, so that
the inspectors are credited with find
ing rs per cent of the loot. The
stolen securities arc said to be- in a
number Of banks, where they were
put up as collateral on loans or held
in block by individuals.
The presence Of these bonds. 1t
is hinted, may lead to raids on safe
ty depasits and examination Of bank
accounts by the inspectors. Whether
innocent purchasers Of the bonds
will lose as the result of acquiring
them remains a question today.
II cannot say offhand whether they
will lose or not" Mr.. French declar-
ed. "That is legal question ia, be
taken up latter"
The list of those taken into Gus
tody in connection with the bond
thefts was swclled to 13 at noon to-
day when James Connolly former
Minneapolis newspaper man, and his
wife and Abe S. Ginsberg, an attor-
ney, surrendered.
Connolly and Ginsberg were rcleas-
cd on $4,000 bond each and Mrs
Connolly was given her liberty un-
der bond of $4,000. Additional ar
rests were expected today, officials
said