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...first shock was felt in Topeka, the State Capital. A national bank examiner questioned the bona fides of some municipal bonds held by the National Bank of Topeka. The U. S. District Attorney got busy, requested permission of State Treasurer Tom Boyd to check them against bonds in the State vaults. The Treasurer refused. The District Attorney went to Governor Alfred M. Landon, got access to the vaults. In 40 minutes Federal investigators found $329,000 of forged bonds held as security for deposits of State funds in Kansas banks-found them lying in the vault not more than...

Author: /time Magazine | Title: Business: Forgery De Luxe | 8/21/1933 | See Source »

Fifty miles southwest of Topeka lies Emporia. In Emporia, besides Editor William Allen White of the Gazette, who made it famed, lives Warren Wesley Finney, head and owner of Emporia's Fidelity State & Savings Bank, owner of Farmers State Bank of Neosho Falls, owner, through his wife, of Eureka Bank of Eureka. He has been one of Emporia's leading citizens, a citizen who ranked in respect with Emporia's Sage White. Last week, in fact, Daughter Mary Jane Finney was touring Russia with the Whites...

Author: /time Magazine | Title: Business: Forgery De Luxe | 8/21/1933 | See Source »

...bank in Neosho Falls. Two years ago Ronald Finney, 6 ft. tall, plump, glib, goodnatured and a lavish spender by Kansas standards, set up in business for himself. He dealt in bonds. He speculated in commodities. He hired an elaborate suite, partly for use as an office, in Topeka's Jayhawk Hotel. He ran up heavy toll bills telephoning to his brokers...

Author: /time Magazine | Title: Business: Forgery De Luxe | 8/21/1933 | See Source »

Ronald Finney went to Topeka to give himself up. His father went with him, refusing to believe that he was guilty. Said the elder Finney: "His transactions from the first of the year showed a profit in excess of $200,000, according to information given me by his auditors. His losses on the wheat market last month were not in excess of $65,000. "We have purchased 30,000 head of cattle in Texas together. Delivery is to begin next week and Ronald is to be at the loading points to check in the cattle. We have a profit...

Author: /time Magazine | Title: Business: Forgery De Luxe | 8/21/1933 | See Source »

Meantime in Topeka worse and worse transpired. Ronald Finney in his capacity as bond broker had had bonds printed for municipalities and school districts. He was accused of having had double sets of false bonds printed, with signatures forged supposedly by one of his employes, Leland Caldwell. As agent for his father's banks he deposited one set of forged bonds with the State Treasurer, gave a second set of forged bonds to banks and brokers as collateral for loans and advances. None of the forged bonds apparently was sold to the public, for then coupons would have come...

Author: /time Magazine | Title: Business: Forgery De Luxe | 8/21/1933 | See Source »

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