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HOLDS STATE FUNDS. LANSING. Mich., June 22.-The First National Bank of Ironwood, which has, acting under an order of the comptroller of the currency, closed its doors, has been one of the state depositories. The bank only had on deposit about $2,500 of state funds at the time it suspended business, and this sum is amply protected by a $5,000 bond.
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HOLDS STATE FUNDS. LANSING, Mich., June 22.-The First National Bank of Ironwood, which has, acting under an order of the comptroller of the currency, closed its doors, has been one of the state depositories. The bank only had on deposit about $2,500 of state funds at the time it suspended business, and this sum is amply protected by a $5,000 boad.
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Ironwood, Mich. Bankers Held to U. S. Jury DEPOSITORS LOSE HEAVILY PRESIDENT, CASHIER AND AS. SISTANT CASHIER ARRESTEDBANK HAD $600,000 DEPOSITSASSETS FOUND AMOUNT TO ONLY $100,000. Ird d, Mich., July 2.-Pres. H. F. state hier T. T. Larson and Ass't. Jahn, Cashie orge H. Meadow, of the First nal bank of this city, have all bee und over to the federal grand j which meets at Marquette, Sept. 7. The cl against them are the the failure of the bank outgrowth which wa sed last week by the federal au ies, briefs) Meadow jail at Bessemer in default of $60,000 ball, while Jahn furnished $25,000 and Larson $10,000 bail bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on the other assets. Embezzlement is Charged. The loss to the depositors will probably be heavy as it is alleged that Larson has in the past two years embezzled to the extent of $200,000 of the bank's funds. The president is accused with aiding and abetting the cashier in falsfying. The assistant cashier faces similar charges and also one of embezzling $1,500.
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WRECK BANK SENT TO JAII Michigan Bankers Held For Crime. GO DEPOSITS OF $600,000 Cashier Accused of Robbing System. E. T. Larson in . Cell and Presh and Assistant Cashier Are Held Under Heavy Bonds. Ironwood, Mich., July 2.-Preside H. F. Jahn, Cashier E. T. Larson Assistant Cashier George H. Meado of the First National Bank of this have all been bound over to the Ma eral grand jury which meets at quette September 2. The charges against them are outgrowth of the failure of the which was closed last week by the eral authorities. Larson is in jail Bessemer in default of $50,000 while Jahn furnished $25,000 Meadow $10,000 bonds. The bank had about $600,000 in posits and the receiver has now in hands about $100,000 in quick assets. is not known what amount can be ized on other asseta The loss to depositors will proba be heavy, as It is alleged that Lar has in the past two years embessio to the extent of $200,000 of the bani funds. Larson has also been char with making false entries setting fort that the bank owned $75,000 more bonds than it held and with takin $33,000 from the deposit box of a a positor and putting it with the banl cash to swell the assets. The President is accused with aidir and abetting the cashier in falsifyin The assistant cashier faces a simili charge and also one of embezzling 91 500.
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BANKERS ARRESTED; $500,000 IS MISSING IRONWOOD, Mich., July 2.-President H. F. Jahn, Cashier EE. T. Larson and Assistant Cashier George H. Meadow, of the First National bank of this city, have all been bound over to the federal grand jury, which meets at Marquette, September 2. The charges against them are the outgrowth of the failure of the bank which was closed last week by the federal authorities. Meadow is in jail at Bassemer in default of $50.000 bail, while Jahn furnished $25,000 and Larson $10,000 bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on other assets. The loss to depositors will probably be heavy as it is alleged that Larson has in the past two years embezzled to the extent of $200,000 of the banks funds. Larson has also been charged with making false entries setting forth that the bank owned $75,000 more in bonds than it held and with taking $33,000 from the deposit box of a depositor and putting it with the bank's cash to swell the assets. The president is accused with aiding and abetting the cashier in falsifying. The assistant cashier faces a similar charge and also one of embezzling $1,500.
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$300,000 MISSING, OFFICERS HELD PRESIDENT AND CASHIERS OF IRONWOOD BOUND OVER TO FEDERAL GRAND JURY. CHARGED WITH EMBEZZLEMENT -$600,000 CAPITAL, $100,000 QUICK ASSETS. Ironwood, Mich., July 3.-President H. F. Jahn, Cashier E. T. Larson and Assistant Cashier George H. Meadow of the First National bank of this city, have all been bound over to the federal grand jury which meets at Marquette, September 7. The charges against them are the outgrowth of the failure of the bank which was closed last week by the federal authorities. Larson is in jail at Bessemer in default of $50,000 bail, while Jahn furnished $25,000 and Meadow $10,000 bail bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on other assets. The loss to depositors will probably be heavy as it is alleged that Larson has in the past two years embezzled to the extent of $200,000 of the bank's funds. Larson has also been charged with making false entries, setting forth that the bank owned $75,000 more in bonds than it held, and with taking $33,000 from the deposit box of a depositor and putting it with the bank's cash to swell the assets. The president is accused with aiding and abetting the cashier in falsifying. The assistant casrier faces a similar charge and also one of embezzling $1,500.
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BIG DEFALCATION ALLEGED Officers of Ironwood (Mich.) Bank Under Arrest. Ironwood, Mich., July 2.-President H. F. Jahn, Cashier E. T. Larson and Assistant Cashier George H. Meadow of the First National bank of this city have all been bound over to the federal grand jury, which meets at Marquette Sept. 7. The charges against them are the outgrowth of the failure of the bank, which was closed last week by the federal authorities. Larson is in jail at Bessemer in default of $50,000 bail, while Jahn furnished $25,000 and Meadow $10,000 bail bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on other assets. The loss to depositors will probably be heavy, as it is alleged that Larson has in the past two years embezzled to the extent of $200,000 of the bank's funds.
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BANK OFFICERS HELD. Federal Officers Closed Their Bank-Depositors WIII Lose Henvily. Ironwood. Mich., July 2.-President H. F. Jahn. Cashier E.T.Larson and assistant Cashier George H. Meadow of the First National bank of this city have been bound over to the federal grand jury which meets at Marquette September 7. The charges against them are the outgrowth of the closing of the bank last week by the federal authorities. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in assets. The loss to depositors will probably be heavy. It is alleged that Larson has In the past two years embezzled $200,000 of the bank's funds. He also has been charged with making false entries, setting forth that the bank owned $75,000 more in bonds than it held, and with taking $33.000 from the de. posit box of a deposition and putting It with the bank's cash to swell the assets. Jahn is accused of aiding and abetting the cashier in falsifying. Meadow faces a similar charge and also one of embezzling $1,500. Larson is in jail in default of $50.000 ball while Jahn furnished $25.000 and Meadow furnished $10,000 bands.
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NATIONAL BANK AT IRONWOOD CLOSED AND THREE OFFICERS ARE ARRESTED| BIG DEFALCATION IS CHARGED Banks has Deposits of $600,000-Pres ident Out on $25,000 Bail and Assistant Cashier on $10,000. Ironwood, Mich., July 3.-Embezzle ment of $200,000 is charged in connec tion with the arrest here of three of ficers of the failed First National bank of Ironwood. One of the officers is in jail at Bessemer, confined in default of $50,000 bail. The bank, having deposits of $600, 000, was closed June 21, by National Bank Examiner George E. Luther, of Grand Rapids, Mich. On June 21 Philip Tillinghast, from the office of the controller at Washington, was ap pointed receiver and took charge of the affairs of the bank. The arrests followed, the officers were arraigned and held to the grand jury. The Officers Arrested. The officers under arrest are: H. F. Jahn, aged 50 years, president accused of aiding in the alleged ille. gal operations of the cashier, and held under $25,000 bond. E. T. Larson, aged 38, cashier, charged with falsification of the books to deceive the national bank examiner, and with the embezzlement of $200.000. Held in jail at Bessemer, Mich., in default of $50,000 bond. George H. Beddow, aged 30 years, assistant cashier, charged with aiding in the operations of the cashier and with the embezzlement of about $1, 600. Held under $10,000 bond. Mr. Jahn had been connected with the bank since it was organized in 1887. At that time he was bookkeep er. Mr. Larson entered the bank only a few years later. Beddow had been with the bank for about five years. The three men are all married. Bank's Condition Not Kknown. The condition of the bank's affairs is not known. The deposits were about $600,000. The amount of the shortage has not been given out and it probably has not been ascertained. In the information sworn out against Mr. Larson, he is accused specifically of having entered $33,000 in bonds, held in a safe deposit vault for a client, among the assets of the bank. He is charged with falsifying the entries with intent to deceive the bank examiner. The officers were arrigned before United States Court Commissioner John Shea and bound over for a grand jury hearing at Marquette, Sept. 7.
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EMBEZZLEMENT LAID TO CASHIER NATIONAL BANK AT IRONWOOD CLOSED AND THREE OFFICERS ARE ARRESTED BIG DEFALCATION IS CHARGED Banks has Deposits of $600,000-President Out on $25,000 Bail and Assistant Cashier on $10,000. Ironwood, Mich., July 3.-Embezzlement of $200,000 is charged in connec tion with the arrest here of three officers of the failed First National bank of Ironwood. One of the officers is in jail at Bessemer, confined in default of $50,000 bail. The bank, having deposits of $600,000, was closed June 21, by National Bank Examiner George E. Luther, of Grand Rapids, Mich. On June 21 Philip Tillinghast, from the office of the controller at Washington, was appointed receiver and took charge of the affairs of the bank. The arrests followed, the officers were arraigned and held to the grand jury. The Officers Arrested. The officers under arrest are: H. F. Jahn, aged 50 years, president, accused of aiding in the alleged illegal operations of the cashier, and held under $25,000 bond. E. T. Larson, aged 38, cashier, charged with falsification of the books to deceive the national bank examiner, and with the embezzlement of $200.000. Held in jail at Bessemer, Mich., in default of $50,000 bond. George H. Beddow, aged 30 years, assistant cashier, charged with aiding in the operations of the cashier and with the embezzlement of about $1,600. Held under $10,000 bond. Mr. Jahn had been connected with the bank since it was organized in 1887. At that time he was bookkeeper. Mr. Larson entered the bank only a few years later. Beddow had been with the bank for about five years. The three men are all married. Bank's Condition Not Kknown. The condition of the bank's affairs is not known. The deposits were about $600,000. The amount of the shortage has not been given out and it probably has not been ascertained. In the information sworn out against Mr. Larson, he is accused specifically of having entered $33,000 in bonds, held in a safe deposit vault for a client, among the assets of the bank. He is charged with falsifying the entries with intent to deceive the bank examiner. The officers were arrigned before United States Court Commissioner John Shea and bound over for a grand jury hearing at Marquette, Sept. 7.
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$300,000 MISSING, OFFICERS HELD PRESIDENT AND CASHIERS OF IRONWOOD BOUND OVER TO FEDERAL GRAND JURY. CHARGED WITH EMBEZZLEMENT -$600,000 CAPITAL, $100,000 QUICK ASSETS. Ironwood. Mich., July 3.-President H. F. Jahn, Cashier E. T. Larson and Assistant Cashier George H. Meadow of the First National bank of this city, have all been bound over to the federal grand jury which meets at Marquette, September 7. The charges against them are the outgrowth of the failure of the bank which was closed last week by the federal authorities. Larson is in jail at Bessemer in default of $50,000 bail, while Jahn furnished $25,000 and Meadow $10,000 bail bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on other assets. The loss to depositors will probably be heavy as it is alleged that Larson has in the past two years embezzlea to the extent of $200,000 of the bank's funds. Larson has also been charged with making false entries, setting forth that the bank owned $75,000 more in bonds than it held, and with taking $33,000 from the deposit box of a depositor and putting it with the bank's cash to swell the assets. The president is accused with aiding and abetting the cashier in falsifying. The assistant casrier faces a similar charge and also one of embezzling $1,500.
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OFFICIALS HELD IN BANK FAILURE Ironwood Men Accused of Making False Entries. CASHIER LARSON IN JAIL Institution Had About $600,000 In Deposits - Money on Hand Now Amounts to About $100,000-Charge That $75,000 Was Removed From a Private Box and Placed With Assets to Help the Institution Make Good Showing. Ironwood, Mich., July 5.-President H. F. Jahn, Cashier E. T. Larson and Assistant Cashier George H. Meadow of the First National bank of this city have all been bound over to the federal grand jury, which meets at Marquette, Sept. 7. The charges against them are the outgrowth of the failure of the bank, which was closed last week by the federal authorities. Larson is in jail at Bessemer in default of $50,000 ball, while Jahn furnished $25,000 and Meadow $10,000 bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on other assets. The loss to depositors will probably be heavy. Among the charges involved in the case are the making of false entries, setting forth that the bank owned $75,000 more in bonds than It held, and the taking of $33,000 from the box of a depositor and putting It with the bank's cash to swell the assets.
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SAVED EXPENSE OF A TRIAL Ex-Bank President Charged With Forgery and Embezzlement Used His Revolver. [Gate City Leased Wire Service ] IRONWOOD. Mich., Sept. 4.-P. F. Jahn, former president of the defunct First National bank of this city. who was to have been tried in the United States court at Marqueette last week on the charges of forgery and of participating in the embezzlement of $20,000 committed suicide at home, by shooting himself through the heart with a revolver. Two other officers of the bank, E. E. Larson, cashier, and George H. Reddow. assistant cashier, are awaiting trial on embezzlement charges. The bank, with deposits of $600,000 was closed June 21 by National Bank Examiner George E. Luther, and Phillip Tillinghast was appointed receiver. The three officers were arrested June 30.
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Bank Officials Held. Marquette, Mich., Sept. 7.-The Federal grand jury convened here today to investigate the charges against President Jahn, Cashier Larson and Assistant Cashier Meadow, who are accused of wrecking the First National Bank of Ironwood. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in assets. The less to depositors will probably be heavy. It is alleged that Larson has in the last two years embezzled $200,000 of the bank's funds. He also is charged with making false entries, setting forth that the bank owned $75,000
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BANK OFFICIALS ARE HELD BEFORE A JURY Michigan Bankers Accused of Wrecking the First National Bank of Ironwood and Appropriating Its Funds. MARQUETTE, Mich., Sept. T.-The federal grand jury convened here today to investigate the charges against President Jahn, Cashier Larson and Assistant Cashier Meadow, who are accused of wrecking the First National bank of Ironwood. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in assets. The loss to depositors will probably be heavy. It is alleged that Larson has in the last two years embezzled $200,000 of the bank's funds. He also is charged with making false entries, setting forth that the bank owned $75,000 more in bonds than it held, and with taking $33,000 from the deposit box of a. de-
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# IMPORTANT SESSION OF THE U. S. COURT AT MARQUETTE Term Opening June 14 Likely to be the Most Interesting Held There # MANY CASES WILL BE HEARD The June term of United States court promises to be one of the most important ever held in Marquette. The spring term was originally set to begin in May, but for the convenience of the attorneys and court officials, it has been postponed until the second Tuesday in June. Grand and traverse juries for the term were drawn some time ago, but as all of the venire has not yet been summoned, the names of the jurymen are as yet kept a close secret. Two criminal cases of unusual interest will in all probability be tried. One is that of George H. Beddow formerly assistant cashier of the defunct First National bank at Ironwood, who is charged with embezzlement, and the other that against Richard, alias Felix, Wagner, a Soo resident who is charged with having been engaged in the business of smuging Chinese across the St. Mary's river. Both of the cases will doubtless be hard fought, and the trials will undoubtedly be followed with much general interest. In connection with the Ironwood bank failure, there are some twenty-five or thirty civil cases, brought by the receiver against a large number of upper peninsula residents for payment of notes found among the assets of the bank. Most of these notes, on which payment is protested, are "accommodation notes," so-called, and the persons by whom they are signed allege that they were given without any consideration, other than to accommodate the bank officers. As many of these cases involve the same legal points, it is not likely that all or any great proportion of them will be tried, the decision in one applying with equal force to several others, in many instances. There will also be a considerable number of Chinese cases, the defendants in which are fighting deportation. The government holds that these Chinese are not legal residents of the United States, but quite a number of them do not propose to go back to China without making a fight.
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ANOTHER IRONWOOD BANK CLOSES DOORS MARQUETTE, Mich., June 13.-After standing a run which lasted for two weeks, the People's bank, at Ironwood, of which S. S. Curry, is president, suspended payments yesterday. The liabilities are placed at $82,000, but it Is said there are ample assets to pa ydollar for dollar. The suspension is directly due to the closing of another bank at Ironwood, a private institution owned by the late Fred Karste, of Cheboygan, Wis. The latter had deposits of $300,000. and its affairs are said to be in bad shape. It was only three years ago that the, First National bank of Ironwood failed, resulting in the president taking his own life, and the cashier going to prison.