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ACT PROTECT DEPOSITORS AS THEFT IS BARED Directors Elect New President. BY JAMES DOHERTY. Press Service.] back page.) Aurora, Oct. Gambling and high financing put John Esser, 38 old president of year Aurora Trust and Savings bank the Kane county jail today on charge of embezzlement, and the bank's directors are paying at least for their trust in the man they regarded as wizard of finance. No definite statement of the amount Esser's peculations is available, but the bank expects that with what the directors are paying, and the $100,000 bond which Esser furnished as president, and his offer to make restitution in perhaps another $100,000, that Esser's gambling losses will be about balanced. In any event, the depositors who have between $2,000,000 and in the Aurora bank were assured against loss, the bank continued ac. deposits today with the tion State Auditor Nelson. Ready to Pay for Fling. Esser made no denials of his guilt. He is ready to pay for his fling, he and will do everything in his power to reimburse the bank directors for their loss. still young he said, when get out of make good what lost. know how money and feel confident will ever be loser because of Esser's head was bowed as he talked. Dressed immaculately and handsome, Esser He in large cell with dozen vagabonds used the of asking couple dollars for tofrom Esser's visitors. Yesterday one of the most respected men in Aurora, regarded as genius, today Esser was downcast but not in despair. He had contemplated suicide and he had contemplated flight, but he said when he thought of his wife and his three children he could do nothing else than meekly await discovery. Arrested in Priest's Home. Last night he stood the street from the bank he built up largely by his own ability from nothing substantial financial institution that enjoyed the confidence and the patronage of Aurora's business associations. The auditors were working on the auditors not of his choosing. He knew the had He went to the home of priest, Father Linden, his pastor and confessor. Later in the evening State Auditor Nelson summoned to the clergyman's house and then about o'clock this morning Esser was served with warrant that termed him embezzler. Auditor Nelson communicated with Attorney Alschuler, general counsel for the Insull here, brother of Federal Judge Alschuler and the directors the Aurora Trust and Savings bank. It was Alschuler who had caused the torney of the bank's books, and by auditing time he talked with Nelson there the no question of shortage in the was bank's accounts. Directors Pledge Protection. The only question was in the amount Aurora's business men and bankers were called into meeting. The directhe bank were there and tors pledged their all to protect depositors. of the Alschuler bank and later in the day he issued the following statement: After discussing the situation with the bankers and State Auditor Nelson became evident that the bank was it position to continue in business. The directors willingly undertook the liability of providing necessary that the capital would not funds impaired. We have insurance be the amount of $100,000. The other banks all assistance necessary, and is opinion that is sound my now that the sore has financially, been with proper manageit destined to be much ment, greater $40,000 as Confidence. you Mr. Alschuler met all callers at the and assured them there was no door $7,500.00 Tribune Accidanger. One Aurora business man, he said, dent Insurance Policy! $40,000 an deposited in the future of the bank. confidence others, including Former dozen Ira Copley, No other newspaper in AmerCongressman likewise, stated. do ica has ever offered so much Early in the afternoon real protection for so little rumor of Esser's arrest bewhen the was slight run money! current the bank. Every who asked page column
