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BANKER ADMITS BANK BURGLARY Iowan Tells of Taking Private Papers of Another. Sept. vice president of bert A. Read, First bank here, the closed said to be willing to plead who was and accept on charge guilty into the bank and removing box of private papers. had not appeared in district court at Sidney afternoon. His failure to late this appear at Sidney taken by Shenandoah an indication that had changed his mind and stand trial. Read confessed. officers claimed. to having entered the bank last week. After his yesterday he waived preliminary and was held to the grand jury in bond of $5,000. The attempt of Read to recover private papers from the First National bank and his subsequent arrest and confession of the robbery, one series climaxes. somewhat less sensational than this last. to mark the history the Read family and their banking interests in this section. The Reads, of whom there, are three. are H. Read, 86, who president the closed First National: Elbert Read, son, vice president and acting manager. and Henry Read, another cashier. The bank was found here in 1877 and E. H. Read had "been its hear for nearly 50 years. The bank, still the hands of the J. Spurway. The Reads one time owned string of five banks in this section, all of which they have lost in recent years. These were banks at Gravity, Farragut, Imogene, Coin, and in this city. Oppose Giving Up Homes. The failure the First National here been followed by show of much bitterness, many of the creditors claiming that the Reads should be compelled to up their fine homes and property for the benefit of the depositors. one time, proposed that this would be done. In fact, the Reads announced that they would protect the depositors promised that no one should suffer the bank failure. However, nothing ever came of it. being understood the Reads would not agree to the manner of disposal of their property and the amount to be thus credited to the bank assets. During all the controversy over this angle of the bank failure, the Reads have had the advice of Edson Sunderland, brother-in-law of Elbert Read. Sunderland head the law department of the University of Michigan Ann Arbor and is said to have advised against giving up their property. Luella sister of Elbert who dean women Grinnell college, also said to have conferred with her brother and relatives and to have opposed the property division: Although Elbert Read expressed desire go to Sidney, plead guilty and accept sentence today. said there may be hitch in such proceedings. Up to noon today the federal government, which much interested in the proceedings, had not taken any action, which it was said might be done.