Show LEGAL L GAL ENTANGLEMENTS Receiver Asked for fot Milwaukee Ave Aye Avenue Aven nue n Cooperative Store Chicago Aug 10 The first step in inthe inthe inthe the dissolution of outside companies with which Paul PaulO O 0 Stensland the missing president of the Milwaukee Avenue State bank is identified was taken today when a petition in involuntary involuntary involuntary bankruptcy was filed against the Milwaukee Avenue Cooperative store by attorneys representing a State street department store The petition was filed flied before Judge Bethea and ar at arrangements arrangements were made mae by him to ap appoint appoint appoint point a receiver under un er the order as soon hoon as possible Notice was given the co cooperative cooperative cooperative operative store today by an attorney representing three New York creditors that he intended to t take similar action but in view of the filing of the petition by the local concern it is now probable that the creditors wIll join with the petitioners pet now before the court The stockholders of the Milwaukee avenue store number persons many of them workmen holders of shares of 10 each The individual lia ha liability liability of these shareholders it is claimed Is a mooted point and it may maybe maybe maybe be that the court will hold that the creditors of the company have recourse upon the individual property of them all Hering at the Bank Henry W Hering cashier of the sus suspended suspended suspended bank was today toda taken ot the institution he is alleged to have helped ruin luin He was taken t ken to the bank by two detectives and every precaution was used to get him inside the build building building building ing without the knowledge of the sev several several severa eral era persons who were around the place Safe inside the bank Cashier Hering immediately began to direct the authorities around to the different vaults and secret chests Application for the appointment of a receiver for the Milwaukee avenue store met with strong opposition An attorney for Receiver John C declared that the Milwaukee Avenue State bank had a large interest in the concern and that Receiver Fetzer de desired desired desired sired to complete his investigation be before before before fore any action which would tie up the assets of the store be taken The case was continued until next Tuesday Receiver for Personal Estate The Personal estate of President Stensland valued at was today placed In the hands of a receiver Wil Vil William liam Ham C Black president of the Chi Chicago Chicago Chicago cago Title Trust company being ap appointed appointed appointed pointed receiver in bonds of Frank P Schmidt was appointed special special special cial master In chancery in the litigation litigation litigation tion resulting from the suspension of or orthe the Milwaukee Avenue State bank by Judge Brentano in the superior c urt today Mr appointment was made at the request of Receiver Fetzer who filed a petition with the court asking for the appointment An intervening petition was also filed in inthe inthe Inthe the same court by the Polish National Alliance of ot North America which or organization organization had deposited in the closed bank it is claimed more than The court was asked in the petition to allow the alliance to become a party complainant to the receivership pro proceedings proceedings proceedings hind and officers in the alliance expressed to Judge their con eon confidence confidence in Mr Fetzer as receiver Assistant States Attorney ey Olsen found what he termed a regular for Continued on page 2 PAYING TELLER KILLS HIMSELF Continued from page 1 guYs nest while going through the books and papers of the Milwaukee Avenue State bank with Cashier Her Hering ing and State Bank Examiner Jones today The rhe nest was composed of two envelopes filled titled with notes and blank forms torms The blank forms con contained contained tamed signatures which had been traced from the regular depositors sig signature signature signature nature book According A to Mr Olsen these were ready to be filled in for any amount which would be charged to the account of the person whose name was signed The other envelope con contained contained tamed notes running up to thousands of pf dollars with the names of many prominent business men attached The authorities will wm endeavor to discover v hether or 01 not these names were forged f The notes were found hidden in President private vault Proof of Forgery Francis S Peabody and F Herhold were re two t wo of the men who went to the bank and with Cashier Hering look lookIng lookIng Ing lag on gave absolute proof that two pi es s of the paper were forgeries Po Polke lice lUe Inspector who was present during the investigation said I The thing is a good deal worse than thanT T J had supposed We have hae proved that worth of the paper are absolute forgeries One note for bearing the signature of F S Peabody was ex cx examined by Mr Peabody who declared It was not Ills His signature Mr 1 Peabody had heretofore insisted that the only note he was concerned in was for The Herhold forged note was Receiver Fetzer made the following statement this afternoon There are worth of mort mortgages mortgages mortgages gages the value of which we know nothing about Considering the devel devol developments of the day in regard to the theother theother theother other securities it is doubtful if these mortgages will prove good |