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RUN-AWAY BANK PRESIDENT CAUGHT HEAD OF PRIVATE BANK IN IOWA SKIPS AFTER A RUN ON HIS INSTITUTION. Des Moines, Ia., Feb. 21.-E. J. Penfield, president of the Bank of Kelley, a private institution at Kelley, Ia., was apprehended today at Watertown, S.D. He will be returned to Kelley to answer charges filed by the sheriff of Story county Penfield's bank closed yesterday, following a run. The depositors today estimated that the shortage is $52,000.
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ARREST KELLEY BANKER E. J. Penfield, Story County Bank President, Apprehended in South Dakota-Depositors Estimato Shortago at $52,000-Institution Forced to Close. Des Moines, Feb. 21.-E. J. Penfield, president of the bank of Kelley, a prlvate institution at Kelley, Story county. was apprehended today at Watertown, S. D. He will be returned to Kelley to answer charges filed by the sheriff of Story county. Penfield's bank was forced to close yesterday following a run, which was occasioned by rumors that Penfield had decamped. Depositors today estimated that the shortage is $52,000. Mrs. Penfield, who is ill in bed from the shock, received a postal card today from her hsuband, it is said, in which h stated that he would not return This was prior to the news of his arreat at Watertown. [The story of the closing of the bank appears on page 2.]
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BANKER NOT ARRESTED Previous Report of President Penfield's Apprehension in South Dakota Denied-Cashier Requests Depositors to Have Receiver Appointed. Des Moines, Feb. 22.-Cashier E. M. Eggleston, of the bank at Kelley, forced to close Monday because of a run, following the disappearance of the president, E. J. Penfield, today formally requested the depositors to have a receiver named. A special from Watertown, S. D., today says that Penfield, who was yesterday reported to be under arrest there, is not in custody.
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Receiver for Bank at Kelley. DES MOINES, Feb. 22.-Cashier E. M. Eggleston of the bank at Kelley, forced to close Monday because of a run following the disappearance of the president, E. J. Penfield, today formally requested the depositors to have a receiver named. A special from Watertown, S. D., today says that Penfield, yesterday said to have been under arrest there, is not in custody.
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Bank of Kelley Suspends. Boone, la., Feb. 21.-Special: The Bank of Kelley, located at Kelley, la., a small village between Des Moines and Ames, suspended business yesterday afternoon as a result of a run made by depositors said to have been due to disclosures made concerning the financial condition of the Institution, coupled with the disappearance of E. J. Penfield, its president. President Penfield is said to have left Kelley last Saturday morning, ostensibly for Watertown, S. D., where he has land interests. Following his departure it is alleged that discovery was made that almost all the notes and negotiable paper in the bank had been hypothecated or sold and that the bank's assets were represented by a few notes and about $400 in cash to offset liabilities of $52,000 due depositors.
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Bank of Kelly Suspends. Des Moines. - The Bank of Kelley, located at Kelley, Ia., a small village between Des Moines and Ames, suspended business as a result of a run made by depositors said to have been due to disclosures made concerning the financial condition of the institution, coupled with the disappearance of E. J. Penfield, its pres. ident.
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BANK PRESIDENT ARRESTED Head of Kelley (la.) Financial Concern Captured. Des Moines, Feb. 23.-E. J. Penfield, president of the Bank of Kelley, private institution at Kelley, Ia., was apprehended at Watertown, S. D. He will be returned to Kelley to answer charges filed by the sheriff of Story county. Penfield's bank closed following a run. Depositors estimated that the shortage is $52,000.
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Receiver for Bank at Kelley. DES MOINES, Feb. 22.-Cashier E. M. Eggleston of the bank at Kelley, forced to close Monday because of a. run following the, disappearance of the president, E. J. Penfield, today formally requested the depositors to have a receiver named. A special from Watertown. 8. D., today says that been under arrest there, is not in custody.
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BANK DEPOSITORS IN KEINEY BANKER ASK THAT SHELDAI VER. BE NAMED RE IELD'S SEEK TO HOLD P ANK LOSSES PARTNERS FO (ent's Father-inP Claimed That Law, and His Former Cashier, Were Associated With Him in Business - Missing Banker Seen in Chicago. Special to Times-Republican. Kelley, March 2.-A committee of five depositors in the bank of Kelley, which was forced to suspend because of the disappearance of the president, E. J. Penfield, will ask that R. S. Graeber, of the Sheldahl Savings Bank, be named as receiver. The depositors also will seek to show that Henry Banks, father-in-law of Penfield, and C. F. Siverly, formerly cashier of the Kelley bank, were partners with Penfield, and should therefore be held for the losses sustained. Nothing has been heard from Penfield, altho it has been ascertained that he was seen in Chicago on the Saturday that he disappeared.
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GRAEBER MADE RECEIVER. Cashier of Sheldahl Savings Bank Takes Charge of Kelley Institution. Kelley, March 3.- R. S. Graeber, cashier of the Sheldahl Savings Bank, was today named as receiver of the Bank of Kelley, which was forced to close its doors last week following a run occasioned by the disappearance of the president, E. J. Penfield.
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DEPOSITORS MAY NOT LOSE Committee Claims Henry Banks and C. F. Siverly Must Stand Back of Banker. Des Moines, March 3.-Depositors of the Bank of Kelley filed a petition in the federal court yesterday asking that a receiver be appointed to take charge of the bank. The petitioners are George Holland, who said he had a deposit of $3,000, H. O. Sandness, with a deposit of $1,000, and Anton Reinertson, with a deposit of $1,184. All are residents of Kelley. Attached to the petition is a list of 120 depositors but the amount each one had in the bank is not named. It may be that depositors in the Bank of Kelley will not lose their savings in the defunct institution. A committee of five, named by the depositors, has discovered a statement issued some months ago in which Henry Banks and C. F. Siverly are named as partners with Penfield, the missing president. If that is true Banks and Siverly can be held for the shortage and the depositors will probably bring action against them, so Des Moines attorney says. Banks is the father-in-law of Penfield.
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Receiver for Iowa Bank. Des Moines, Iowa, March 3.-R. 7 Graeber has been named as receiver for the bank of Kelley which closes last week following a run occasionet by the disappearance of President Penfield.
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ROAD EXPERTS GROW CAUSTIC Declaration Des Moines Traction Hopelessly Involved. CITY OWNERSHIP IS ADVOCATED R. F. Graeber of Sheldahl Appointed Receiver of Bank of KelleyRailway Commission Prepares Complaints. (From a Staff Correspondent.) DES MOINES. March 3.-(Special Telegram.)-At a meeting of a committee of citizens held today to consider the street car situation, C. E. Collins. an expert employed by the city to investigate the advisability of city ownership, reported that in his opinion the city can own and operate the system at a profit. He said: "Your car system here is rotten. The only solution is municipal ownership. A private corporation could never untangle the affairs of the city railway. The bonds are in bad condition and repairs are needed badly. I find that no one department of the traction company is progressive." B. J. Arnold of Chicago is also expected to investigate the situation as an expert. Receiver for Bank of Kelley. R. F. Graeber of Sheldahl has been appointed receiver for the Bank of Kelley by Judge French, referee in bankruptcy of the federal court. Mr. Graeber filed a bond of $8,000 today and will assume charge of the institution supposed to have been wrecked by the disappearance of its president, E. J. Penfield. Commission Has Complaints. The Iowa Railroad commission this afternoon prepared complaints to submit to the Interstate Commerce commission in which twenty-two Iowa railroads are made defendants. The railroads are charged with violation of the western classification freight rates into and from Des Moines to out-of-state points, in that they charged higher rates than provided in the schedules. Odd Fellows Have Celebration. Over 800 Odd Fellows and members of the Rebekah lodges held a celebration here today with a banquet in the evening in Shrine temple. Addresses were made by Grand Master Ring, Grand Patriarch Chapin, Grand Secretary R. L. Tilton of Des Moines, Grand Chaplain Kight, Grand Reporter C. E. MacCanon of Des Moines and others. Farmers Are Organizing. There was filed with the secretary of state today articles of incorporation for the Farmers' Shipping company of Kimballtown, with $15,000 capital; the Owens Grove Telephone company, Cerro Gordo county, $9,990, and the Farmers' Mutual Co-operative Creamery company, Orange City, $10,000. Deyoe is Lecturing. State Superintendent A. M. Deyoe is engaged in doing lecture work for the benefit of the schools of the state and is already in demand, though he has been in office but a short time. He went to Buchanan county last week and will go to Butler county, where the school patrons are interested in consolidation and desire information as to how to proceed. Lewis is Congressman's Clerk. William M. Lewis of this city, now journal clerk of the state senate, will become the clerk for Congressman Prouty of this district, who takes his office Saturday to succeed Captain Hull, who will retire to his home in Virginia. Judge Prouty has been in Washington some time and is expected home tomorrow. Assist in Enforcing Laws. Forty creamery men from Iowa, Missourl, Nebraska, Minnesota and Illinois met in Des Moines and appointed a committee to assist Food and Dairy Commissioner Barney in the enforcement of the Iowa pure food laws. The committee appointed to assist Mr. Barney is made up of J. W. Fowler, Grinnell; H. B. Dunlap, Des Moines; W. S. Wilcox, Mason City; F. A. Leighton, Des Moines, and J. J. Jeck, Atlantic. How to better the butter making of Iowa was the principal subject for discussion. Burned Up His Money. Going to his home in Winterset, Charlie Anderson, a young farmer of Madison county, placed $2,900 in currency, which he had taken from the bank to buy a farm with, in a trunk in his home. It was his life's savings. His one desire had been to purchase the farm so his mother and four brothers would have a home. He was awakened in the morning by the smell of smoke and going to the trunk found it burned to ashes together with/all the money, Iowa News Notes.
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LARGE SUM offered FOR ARREST OF MISSING KELLEY BANKER. NO CLUE TO WHEREABOUTS OF EMBEZZLER OBTAINED Citizens of Story County Do Not Believe Others Can Be Held Responsible for Penfield's Shortages-Depositor Abandon Hope of Securing Anything From Wrocked Institution. Special to Times-Republican. Nevada, March 13.-A reward of $5,000 has been offered for the apprehension of Ellis J. Penfield, the absconding cashier and president of the defunct bank at Kelley. The matter is in the hands of the Pinkerton people and while there have been various reports as to the man having been seen little credence is given them, by the people of his home town. The report that Henry Banks, the father-in-law of Penfield, and Clyde Siverly, now cashier of the Union bank of Ames, can be held for the deficiency in the funds of the bank is not credited in this county. Siverly was at one time connected with the bank as a clerk on a salary and while at one time Mr. Banks helped Penfield in the way of security he has never been connected in any way with the institution, but that he made a complete satisfaction and withdrawal. Depositors to Lose Heavily. The investigations of the books of the bank by the receiver, Mr. Greaber, discloses the fact that the books had always been kept in a slipshod way and the general opinion there is that there will be but very little of anything left with which to satisfy the depositors. Farmers and others who held deposits in the institution have almost given up and are accepting the inevitable. The newly organized State bank, with Captain W. M. Greeley at the head of it is starting off nicely and many of those who lost thru the Penfield defalcation are taking stock in the new institution.