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Show CRIMINAL CHARGES AGAINST DIRECTORS CHICAGO, Aug. 8. Evidence which may lead to the prosecution of the directors for responsibility for President Stensland's Stens-land's $1,003,000 theft by forgery was among tbe general developments yesterday yester-day touching tbe mulcted Milwaukee Avenue State bank. It developed that the directors of the institution deliberately neglected to enforce en-force such precautions as would have made impossible Stensland's operations In fictitious paper directly under their noses. Stensland never was required to account for the vast amount of money which apparently was being borrowed by small tradesmen in the neighborhood, and by small depositors in the bank. In view of the distress brought to the 22.000 poor savings depositors by mismanagement, misman-agement, responsibility of tbe directors is declared to be nothing short of criminal, crimi-nal, and will be made the subject of an investigation by the grand Jury. It Is expected that the evidence will be laid before the State's Attorney as soon as Receiver Fetzer and Bank Examiner Jones can complete their report. One of the results of Hering's reappearance reap-pearance will be that the Co-operative store, said to have furnished a channel for dissipating nearly J 500 ,000 of the bank's funds, will be closed. Receiver John S. Fetzer said this morning morn-ing that be will ask instructions of Jndge Brentano on the disposition of the stock In the store. Another development expected ex-pected today, is tb2 the estate of the 0 fleeing bank president, of an estimated value of $600,000. will be deeded to tbe receiver by Theodore Stensland. "I am collecting the assets of the bank, not running business enterprises," said j Receiver Fetzer today.' "So this store i will be closed. The $300,000 in Co-opera- i tlve store bonds' mentioned by Cashier i Hering -were discovered in the bank's vault yesterday." j Receiver Fetzer declared that the first i statement of cash in hand at the bank was $300,000 too high. It was said there were $1,060,000 cash in sight. Instead, there Is only about $750,000. "This does not necessarily mean a loss." Mr. Fetzer explained, "but there were many items carried on the bank's books as cash tbat were not so In reality." reali-ty." Another warrant charging viclation of tbe State banking laws was sworn out today to-day for tbe arrest of Theodore Stensland, vice-president of tbe suspended bank. Vice-President Stensland will not be arrested ar-rested on this warrant today, according to tbe police. Charles Habel, the complainant, charges Stensland with violation of the banking laws Inasmuch as he permitted him to deposit $125 In tbe bank on Saturday Sat-urday last when Stensland knew the bank to be Insolvent. Stensland was arrested last 'Monday on a similar warrant. |