The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-06-12

that / was unable 10 subscribe
anything but that would use the
s,ook possessed in the name OF
the hank 10 assist In raising the
money. The directors approved OF
my actions. The money was raised
and tho plan formulated with tho
federal reserve bank was put In the
form OF n eontuct.
Tho criminal prosecution II based
on the fact that my name instead
OF the namc OF tho bank for
which I WIS signing appeared upon
this contract. ! wanted to sign the
name OF the bank hut was advised
70 hlgn my own
w. r. Carter. prominent attor.
ney OF So. Louis. testified at the
time OF the trial that larson signed
presumably for the bank and not In
his own name. I'VE had 10 have
this money and II was agreed that
Mr.. Larson should sign for the
bank and at my suggestion no
signed his namc individually after
explaining that he had no funds
OF his own" Larson testified.
a. G.. Hansen OF Enumclaw. who
paid 100000 into the Seattle hank
for the purpose Of saving It's mem.
bershlp In tho federal reserve sys.
tenn. testified when asked by Lar.
sons attorney II Larson had signed
for the bank or for himself that
1T was for tho bank"
Frank G. Drew. nm attorney re.
siding at San Frpncisco. the law
partner OF w. II. Aetson. who was
present at the time the contract
WINS signed. testified He narson)
said he would sign II for the bank.
that he could not sign II indI.
vIduaily because he had obligated
himself 10 the fullest extent OF his
credit"
Afterwards" Larson says In
his plea, II understood that
the reason why I was not per.
mitted 10 sign the name OF the
Scandinavian-Amcr Bank of
Tacoma WIS that In the short
space Of time we could not by
any possible means get n rcso.
luton OF the board Of directors
of the Tacoma bank and that
the federal reserve bank, TO
whom the contract was 10 be
submitted, would very likely
have refused 10 accept II with.
out n resolution authorizing the
subscription Of $4,000.
MOTIVE WAS TO
AVERT CRASH
"As result OF this action / was
tried and n verdict OF guilty Of
grand larceny was returned against
me. maintain that the subscrip.
ton ] made was made with the In.
tentlon of saving the scandinavian.
American bank OF Seattle, which II
It had failed would have ruined the
Tacoma bank as well. Jafct Linde.
berg, James II. Thompson. George
Williamson, directors. AND J. II. Chill.
berg, president OF the Tacoma bank,
all agreed that my net In trans.
fcrring the stock was n piece Of
good business and necessary to
save the institutions.
~ refuse to believe that I am
10 blame for the failure. even
tho good many people silll
have that idea. II the Seattle
institution had not gotten into
difficulties, ! would have had
an entirely different story to
tell"
In concluding his plea, Larson
says In part:
~ lost everything ! had In the
ScandInavinn,A mcr lean bank In
Tacoma. cannot see what good
can come to the state OF Washing.
ton or to myself by having me con.
fined In the state penlt.ntlary for
five years. am sincerely sorry for
these failures and would like to be
nble TO help those who were reduced
TO poverty in the catastrophe In
Tacoma. am pnst 40 years old and
have wife and six children TO
support.
"Ior all these reasons l respect
fully ask tho governor OF this state
TO grant me an immediate pardon
from the conviction In this case,
land 10 cause tho judgment TO be
wiped from the records"