The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1923-10-10
Bank Embezzler
Seeks Parole
From Prison
Frank Ridings, Convicted of
Fraud in Halsey Bank,
Claims Innocence of
Wrong Intent.


Lincoln, Oct 9.--Frank Ridings,
who Is serving an indeterminate sem
tence in the penitentiary on charge
Of embezzlement in connection with
the Halsey State bank. maintained
that certificates of deposit issued by
the bank were adequately backed.
when he appeared before the parole
board today.
The bank issued So 900 In certifi-
Gates and deposited titles to Michigan
timber land as security. According to
the prosecution the lands were "cut
over and not worth as much as the
bank officials stated, but Ridings told
the board that he personally had had
the lands ''cruised" twice, and that
the timber standing on them was
alone worth more than $4,000.
He charged that the receiver for
the bank had made no real effort to
collect on notes outstanding at the
time of the failure and had such ef-
fort been made there would have been
no loss.
The records show that Of s37 900
paid out by the state guaranty fund
s32 600 had been recovered through
the sale Of assets of the bank. An un-
! determined portion of the $13.-
goo worth of certificates Of deposit
has been repaid, according to Mr.. Rid
ings. An action is now pending In
the Iowa supreme court to determine
whether Iowa banks who hold the bal
ance of the certificates can recover
from the Nebraska guaranty fund.
Thought Transa cti0n Legal.
He had never been in the banking
business and had no knowledge OF IL.
he said, when he authorized the is
suance of the certificates. and he did
so on the assurance OF the cashier
that the transaction was customary
and legal.
He had only arrived at the bank
that day and assumed that the cash
ier, who had preceded him there by
week, was familiar with the va
rious phases Of banking. He, per-
sonally, had never gained from the
transactions. and had, In fact, lost a
good deal OF his own money In the
bank crash. he declared.
Rev David s. Hunsgcker Of Valley,
| Neb., appeared as witness for Rid
4 ings, and testified that he had lived
in the Rdings home and that 1t was
an ideal family. He was anxious to
have Rulings paroled to him
Nate Siporin, who is confined to
the penitentiary on n two to three
year septence for embezzlement. ap-
peared before the board to plead for
parole. Siporin embezzled s547.s4. He
served 10 months in the Minnesota
penitentiary on a charge of grand
larceny before being sent to the Ne
braska penitentiary.
Omahan Seeks Parole
The case Of Cyrus II. Deardorf. who
Is serving a life term for second de-
gree murder, was deferred for one
month because Of the absence from
the board Of the attorney general,
who Is In Washington.
Deardorf was committed TO the
renltentlary October 5, 1915, after
having been convicted OF shooting
his brother. At the trial he declared
he had committed the crime while
intoxicated.
Among others applying for parole
are Claude Sawyer, serving n 3 10 Is.
year term for robbery: Charles
Murphy. embezzlement; Edward Bry.
ant. grand larceny. and Louis Pecha
OF South Omaha. 2 10 10 years for
robbery committed In April, 1920.
Pecha told the board that II was
his first offense His companion in
the crime was paroled last November
and has since been discharged Pecha
offered evidence that he could obtain
employment were he paroled. War
den Fenton stated that pecha had
been an ideal inmate at the peniten'
tiarY