Banker Found

A more imaginative man might have killed himself. A more unscrupulous man might have sailed for South America or Africa. A more logical man might have surrendered to the nearest representative of the law. But Charles Delos Waggoner, quixotic President of the Bank of Telluride, Col. adopted none of these courses. Having fraudulently obtained some $500,000 from six Manhattan banks to save his Telluride bank (TIME, Sept. 16), Mr. Waggoner was last week apprehended in a Wyoming tourist camp. He was traveling in his own car and under his own name, although he had adopted the subterfuge of shaving off his mustache. Arrested, he admitted his guilt, said that he expected to spend the rest of his life in jail, maintained that it was better for the depositors of the six Manhattan banks to lose $500,000 than for that loss to be concentrated on the depositors of Telluride. It was believed also that he had a grudge against Eastern capitalists who had purchased and closed down (to eliminate competition) various mines in the Telluride district.*

* The Telluride district contains gold, silver, lead, zinc. Famed mines: Liberty Bell, Silver Pick, Tomboy, Black Bear, Smuggler.