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Show mm mmm WMMM 'STOWS - wmrn m obf; 'mm won : - IN PLUNGE, SOT LOSSES TOE HEAVY I Police Have Suspicions Regarding Story Told by Confessing Cashier; Stensland Palsied for Years; Making forgery by Him Almost Impossible. i appoint a receiver under the order aa Boon as possible. ' Notice was giren the Co-operative store today by an attorney representing three New 1 ork creditors that it intended in-tended to 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 peti-tioners now before the court. Stockholders Number 6000. The stockholders of the Milwaukee Avenue store number 6000 persons, many of them workmen, holders of shares of $10 each. The individual liability lia-bility of these shareholders, it is claimed, is a mooted point, ana it may be that the court will hold that the creditors of the company have recourse upon- the individual property of them all. Herlng at the Bank. - Henry W. Ilering, cashier of the suspended sus-pended bank, was today taken to the institution he is alleged to have helped ruin. He was taken to the bank by two detectives, and every precaution was used to get him inside the building without the knowledge of the several persons . who were around the place. Safe inside the. bank, Cashier Hering immediately began to direct the authorities author-ities aroumV toheMUffereat vaults and secret chests. CHICAGO, Aug. 10. In addition to .. the discovery of a private ledger, kept by President Paul O.' Stensland of the wrecked Milwaukee Ayenue State bank, and in which was concealed a record of $191,000 of savings bank deposits, an-. an-. Father sensation book came to light dur-Jng dur-Jng the examination of Cashier Henry W. Bering by Assistant State's Attorney Attor-ney Olsen, at the bank last night. This book showed Stensland in a new role that of sport and race-track gambler. gam-bler. The book showed that the missing ? resident, in company with a coterie of riends, was a heavy plunger on the races. It contained memoranda of the campaign on the turf. Won $60,000 One Day. One day Stensland and his companions compan-ions bet $75,000 to. win $60,000 on a horse called Gen. Bragg. The animal won. There were lots of losings, however, to offset this big winning. win-ning. rThis shows,' said Ilering, as he brought the book from Its hiding place, 'that I'm not te only fellow around here who 'followed the ponies.' " Chary About. Hering. . . - The authorities are chary of repos- ' ing implicit confidence in Hering s statement- that be did not forge the names on certain notes and by implica-I implica-I tion insinuating that Stensland did. The reason is this: For the last two or three years Stensland has not been physically perfect. His nerves have given him a lot of trouble, and so poor has been his control of them that his hands have shaken as if ho had tte palsy. ' No wavering, penman could do tne ' high-grade forgery that has been going on ' ' Today Ilering will be confronted with the crooked signatures and ques-; ques-; tioned point blank about each one. How Scheme Waa Worked. The actual securing of money on bad i paper always was put through at noon, j when the" paying teller was out at i lunch. Then Hering would enter his j cage, take the money, and leave a debit slip on the book. This is what happened on July 8. Hering admits that he took $1000 from the paying teller's drawer, put the money in his pocket, and put on the spindle ft slip charging the sum to mvthical 'fUmbach." No such person exists, so far as known, and the transaction trans-action was a plain case of embezzlement. embezzle-ment. . ' -,-Vrtat Hering Tells. X In the case of the money borrowed : Wjy Stensland from the bank, Ilering Vs'ajd that Stensland had instructed him to make between $700,000 and $900,000 in forged notes, signed chiefly with the. names of prominent patrons of the bank. This,- he said, he . did, under Stensland 's specific direction. Also at Stensland 's dictation he cared for these notes and credited interest on them frdm time "to time. - He said he also was directed by Stensland to keep them carefully away from the eyes of the note teller, in or- " der that notices should not be sent to bank patrons whose names were forged, . and who would thus be apprised of the crime. . , ' Those who listened to Henng's story were State Bank Examiner C. C. Jones, Assistant State 's Attorney Harry Ol-ten Ol-ten Assistant State's Attorney James Barbour, Assistant Superintendent of Police Sheuttler, Police Inspector Shippy, Attorney Joseph Weisenbach, representing Receiver John C. Fetzer, and a squad of detectives. Peculiar Kind of Thief. One of the investigators remarked that Stensland was a peculiar kind of a thief. ,He left $1,000.000 . m his bank and other banks where he could have reached for it quickly had he been so inclined. At any rate be could have cut in bis pocket just before he left about $200,000 in cash, and nobody would bav.fi been the wiser until he was far away. But it seems that he bad a theory that so long as he gave a note, even ' if it was a forged one, he was riving a sort of "value received." and - he persuaded himself this was not . 4 ling. . fTo Dissolye Co-operative. The first step in the dissolution of . outside companies with which Paul O. Stensland, the missing president of the Milwaukee Avenue State bank, is identified iden-tified was taken today, when a petition in involuntarv bankruptcy was filed against the Milwaukee Avenue Co-operative store by attorneys representing a State street department store. The petition was filed before Judge Bethea, and arrangements were made bj hi to |