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on Charge Rochester, Oct. Kelsoe, Minneapolis traveling man, in jail here today complaint charging that he maliciously circulated rumor that the Olmsted County Bank and Trust Company was insolvent. His arrest climaxed an investigation begun when on the bank resulted such heavy drawals that the bank closed 10 to protect depositors. Two agents of the state bureau of criminal authorities in questioning
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SALESMAN CHARGE Bankers Invoke Old Minnesota Law Against Minneapolitan Alleged to have uttered false and malicious statements against the Olmsted County State bank of Ro. chester, Minn., causing run on the bank resulting in closing last week, Bert Kelso, 40 years old, Minneapolis traveling salesman, today was under arrest Rochester charged iwth criminal libel against bank, the first case of its kind in history of Minnesota courts. Kelso was arrested his home, Nicollet avenue by Irie Mallette, operative of the state bureau of criminal apprehension, on warrant by the county attorney Rochester. He was. lodged the Hennepin county and turned over Rochester authorities Sunday be taken to the southern Minnesota city for arraignment day. First Action Under Law Although the Minnesota banking laws for years have included provision for arrest and punishment persons uttering falsehoods about the condition banks in state, this is the first time the has been invoked, Mel. vin Passolt, chief of the bureau criminal apprehension. Filing the unprecedented charge Kelso's arrest said to resulted from the campaign of Minnesota State Bankers' association halt "whispering campaigns against banks of the Several weeks ago association officials they intended to trace all false and malicious rumors garding banks and prosecute persons in spreading the rumors. Details Unavailable Kelso, married and reprein south. was said to been Rochester shortly before the run on the Olmsted County State bank that resulted its said. No available garding his alleged activities in the case. Bank Had $725,000 The warrant for Kelso's arrest sworn out last Thursday Lamprecht, of the bank, days before the bank orderclosed by its board of The last Wednesday and Thursday, officials The warrant gave details of the charges, simply stating Kelso alleged to "maliciously and falsely started rumors" tending diselose that the bank was carious position. bank had deposits of $725,000, directors
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WITH CAUSING RUN ON OLMSTED BANK FIRST WARRANT FOR CHARGE SWORN OUT IN STATE, OFFICIALS SAY St. Paul, Minn., Oct. what officials said the first warrant ever issued in the state for causing run on bank, Belt Kelso, Minneapolis was held today for Rochester authorities. The warrant was sworn out in Rochmunicipal court on Oct. The original complaint made by Lamprecht, cashier of the Olmsted County bank. which closed Oct. hysterical run. The complaint charged that Kelso "maliciously and falsely made statements tending to disclose that the financial situation of the bank was solvent." Kelso arrested at his home in Minneapolis by Ira Millette and Art Erickson, state criminal operatives. Deputies from Olmsted county expected today or tomorrow to take the man to Rochester. The Olmsted County bank had deposits fo $725,000. Lamprecht's complaint was sworn out two days before the bank closed its doors by order of its board of directors. Kelso salesman for Milwaukee hat company.
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Man Jailed For Closing Of Rochester Bank Rochester, Oct. 1'. (/P)-Bert E. Kelsoe, Minneapolis traveling salesman, was in jail on a complaint charging he maliciously circulated a rumor the Olmsted County Bank & Trust Company was involvent. His arrest climaxed an investigation begun when a run on the bank resulted in such heavy withdrawls the bank closed ten days ago to protect depositors. Two agents of the state bureau of criminal apprehension are assisting local authorities in questioning Kel-
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OLMSTED BANK OWNERS FAVOR REORGANIZATION Stockholders Name Committee to Perfect Plan-Depositors to Meet Thursday A majority of the stockholders of the Olmsted County State Bank and Trust company favor immediate reorganization, said C. Dabelstein, president, following a stockholders' meeting yesterday afternoon in the Hanson Hardware ompany's building at Broadway and Center street. Approximately 100 of the 150 stockholders attended the meeting and a majority of those present signed for stock in the proposed reorganization, Mr. said. committee of 10 was appointed to perfect the reorganization. The committee is composed of Jay Benedict, J. F. Cooke, J. R. Sullivan, S. A. H. Henke, David B. Shonyo, Brakke, Lynn Duncanson, Henry Kitzman, Corwin Stoppel and John Steiger. Mr. Benedict is chairman. A depositors meeting will be held at the armory Thursday at which committee is expected to be elected to appraise the assets of the bank.
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KELSO RELEASED AFTER QUESTIONING State Bureau Operatives Free Man Brought Here in Bank Closing Inquiry After being held for questioning in reference to the origin of false rumors regarding the condition of the Olmsted County bank and Trust company, Bert E. Kelso, traveling salesman of Minneapolis, has been released by operatives of the bureau of criminal apprehensiou who are investigating the source of the rumors which resulted in a run on the bank. Kelso was released after he agreed to return Rochester wanted by detectives for further questioning. He was not brought into court here to answer charges in the complaint that he circulated the false report. Two agents of the state bureau continued the investigation today. half-dozen persons have been questioned.
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BANK CLOSED BY RUMOR MAY REOPEN Plans to reopen the Olmsted CounBank and Trust company Rochester, Minn., were outlined while Olmsted county authorities were preparing to prosecute Bert Kelso, Minneapolis salesman, alleged to have started the run on the bank which resulted in its closing, spreading "false malicious rumors" regarding its financial position. Kelso, who lives 4221 Nicollet avenue, held jail Rochester awaiting arraignment on the charge. Plans for the bank's reopening will presented to depositors by Dabelstein, at meeting in the Rochester armory Thursday.
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MAN IS CHARGED IN BANK FAILURE Bert Kelso, Minneapolis, Is Said to Have Started Run On Institution. St. Paul, Oct. 13(UP) On what officials said is the first warrant ever issued in the state for causing a run on a bank, Bert Kelso, Minneapolis salesman. was held for Rochester authorities. The warrant was sworn out in Rochester municipal court on Oct. 8. The official complaint was made by A. E. Lamprecht, cashier of the Olmsted county bank. which closed Oct. 1 after hysterical run. The complaint charged that Kelso "maliciously and falsely made statements tending to disclose that the financial situation of the banks was insolvent.' Kelso was arrested at his home in Minneapolis by Ira Milett and Art Erickson, state criminal bureau oper atives. Deputies from Olmsted county were expected to take the man to Rochester. The Olmsted county bank had deposits of $725,000. Lamprecht's complaint was sworn out two days before the bank closed its doors by order of its board of directors. Kelso is salesman for a Milwaukee hat company. HUGE KANSAS SUNFLOWER. Kansas City, Kan.(UP) Kansas, "the sunflower state." got its nickname, obiviously. from the big yellow flowers which dot its prairies. But not even Kansas produces very many specimens as big as the one which grew up, uncultivated, in Elmer Reed's backyard. This flower was 17 feet. 10 inches tall and during the year bore 458 blossoms.
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KELSORELEASED, EXONERATED IN BANK RUN Minneapolis Man Explains Rochester Situation Bert E. Kelso, Minneapolis sales. man arrested on warrant charging that he circulated "false mallcious rumors" regarding financial condition the Olmsted County Bank and Trust company of Rochester, Minn., today was at liberty the charge against him dismissed. He was released Monday after be ing questioned by authorities Rochester, it became known today. The charge that Mr. Kelso's leged rumors started run on the bank resulting its closing last week was completely disproved, was announced by investigators. Explaining his position, Mr. Kelso told E. Witters, operative for the state bureau of criminal apprehension, had repeated to two friends in Rochester story that the bank planned to close, but he had not originated the story. having heard from prominent Rochester busi ness man, he Tells of Phone Call "I merely gave couple of my good customers in Rochester tip that had been given to me in good faith,' Mr. Kelso said. was in Rochester store when the proprietor got call from someone informing him that the bank was close. He told me about it and passed it on to my friends to protect them." Search was under way today for real estate dealer believed to have started rumors of the bank's closing. Meanwhile. plans were for meeting of depositors in the Rochester armory on Thursday to discuss plans for reopening the bank Mr. Kelso was connec tion with the case his home, 4221 Nicollet avenue, Sunday, when the warrant. sworn out by the cashier of the bank. was served on him by criminal apprehension operatives. He was taken to Rochester where he conferred Monday morn. ing with Mr. Witters. being released immediately afterward. without even being arraigned in court
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Minnesota-lowa Border News Man Arrested For Run On Bank Is Released Rochester, Oct. 16-Bert E. Kelso, Minneapolis traveling salesman. was released from jail here Wednesday after being questioned in connection with the spreading of rumors that caused run on the Olmsted County State Bank, and forced it to close its doors. Kelso and a half dozen others were questioned by two operatives of the state bureau of criminal apprehension. Kelso promised to turn if urther in-