BIG SWINDLE.

Auckland Star, Volume LX, Issue 222, 19 September 1929, Page 7

BIG SWINDLE.

SALT LAKE CITY, September 12. "My bank was busted. I tried to borrow in Wall Street, but they wouldn't give mo any, so I just went and took it anyway. I'm sorry now, for that 500,000 dollars ( £100,000) .won't do any good." With this confession, Charles Waggoner handed himself over to the police, whcs had been seeking him for a week for the purpose of solving one of the most mysterious transactions that detectives have ever been called upon to investigate. w■ v * Waggoner, president of the Bank of Telluride (Colorado), was the leading citizen of that town, head of the Chamber of Commerce, and financier for half of the industries of the place. _ During the last year, however, mining languished, and the bank was hard up for cash. „ .. "I turned every way for money, said Waargoner, "but nobody would give me any. Then I carefully worked out a swindle, if you call it that, to repay my depositors, who really were given the worst of many deals by the clever, financiers of Wall Street: I sent coded telegrams and then went to New York and presented the drafts and got the cash. I was just trying to get back their life savings for the people who trusted my bank. Now tliey are broke, and I'm going to prison, I suppose."