CRIME: How to Buy a Bank

In the industrial town of New Kensington, Pa. last week, an almost classic example of bank embezzlement came to light: Bank President Ludwig R. Schlekat confessed that he had swiped $600,000 of the passbook holders' money.

His institution, the Parnassus Bank, was the oldest in town (pop. 25,226), and Schlekat was so quiet, so respectable, so trusted by the public that any experienced bank examiner would have found both the crime and the criminal familiar to the point of triteness. Grey-haired, spectacled "Luddy" Schlekat, a local boy of good upbringing, started at the bank soon after he got out of...

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