OCR Text |
Show BANKERS FORGED I ' TB IMJGTIOil HI Theft of Many Millions From Efl r Big Institutions Has Aroused IS J the Financiers. H9 MUST DEVISE MEANS OF Kj PROTEOTING DEPOSITORS IB'1' One Theory Advanced Is That IK , Trust Employees Are Paid fcfcfer Too Small Wages. K t A FEW BIG BANK THEFTS: t Edwin Wider, cnshlcr Kueso-Chl- 41 nese, charged with tho theft of i $000.000., 4 Officials of His Denver Savings 4 4 bank, Jl.700.000. 4 .l 'V T. Lcc Clarke, Enterprise bunk of r - Pittsburg, $1,200,000. 4- l7 ' Henry Rleber, paying teller, John 4- 5 4 Young, cashier Farmers' National 4 4" bank. Pittsburg. $1,105,000. - t$ 4 August Ropke, Fidelity Trust com- 4" if. pany: Louisville. $1,140,000. 4- 14 4 Oliver M. Douglas, bookkeeper A -J- Trust Company of America, $1,300,- t 000. tS r C. S. Hixson, bookkeeper of tho v H Union Trust company, Pittsburg, 4 I $125,000. I J. Howard Lowcy, cashier Utica J , 4 (N. T.) National bank. $115,000. t, 4 The grand total of money stolen F. 4 from bonks and trust companies by A- I 4 officials and intrusted employees In 4 the past llvo years, is over 35,323,- 4 I 4 000. Ft r v I .2..j..;..;..;..'..;..;..;... ;..-u;..,;..t....;..;-..... I . Bj' leased Wire to Tho Tribune. fjt NEW YORK, July 30. When the Bank- K era' Association of America convenes In P Los Angeles, Cal., shortly, steps will be , taken to establish safeguards about bonks which will prevent financial instl-tilons instl-tilons from being looted in the future by unscrupulous officials and employees. Al-' Al-' leged thefts from two New York banks and a big financial institution in Louisville. Louis-ville. Ky.; recently have compelled the attention of tho American Bankers' association, as-sociation, and - when tho annual convention conven-tion is held a movement will be inaugurated inaugu-rated with a view of protecting the funds of the depositors more carefully In the future than thoy have been protected in the past. An elaborate system of safeguarding safe-guarding banks from thieving employees will be "inaugurated. The fuct that more Mian $35,000,000 has been embezzled from banks and trust companies lu the past few years brings the question of embezzlement embez-zlement looming up as one of the most important things to be considered in modern mod-ern banking. That tho bankers are alarmed is evident from the preparations which are being made for tho handling Df this subject. Results of Speculation. In a majority of caseG tho money stolen stol-en from banks has been lost in stocks and grain gambling. Temptations to crime are often held out in alluring "get-rlch-qulck" circulars of brokers and others, oth-ers, Tho underpaid clerk steals to make money. He gets in debt and steals more in the attempt to recoup his losses. The banks will put a ban on all literature like "got-rich-qulck" circulars. He will also ask that stricter rules be laid down In dealings with their customers. Bankers claim that If brokers would Investigate conditions of clients they would llud many times, that they were receiving stolen money for stocks and bonds. Whether the question of raising tho wages of bank employees will be considered has not been made known. Some banks are In accord with the proposition to Increase the salaries of clerks, bookkeepers and underlings as a means of removing some of the temptations of poverty. However, something will bo done and something very drastic, too. |