The Jailbreak of Port Angeles’ Fake Banker
After fleecing investors and local organizations, Benjamin F. Schwartz slips past his jailer to disappear into the night.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
PORT ANGELES, Dec. 30—Ex-banker Benjamin F. Schwartz has made his escape from the county jail. Late last night, he slipped by the jailer, who was making a fire, and walked out of the open door. The jail is an insignificant affair, originally built by the city to confine drunkards. Schwartz, who is small and had convinced his keepers there was no danger of flight, had been allowed to stay in the office area. Evidence suggests the escape was planned; his wife was seen on the streets shortly before he vanished. Theories circulate that he was spirited away by Indigenous people across the straits, or that a waiting sailing vessel whisked him toward Seattle or Port Townsend. Schwartz, 42, is a well-traveled man of varied 'fakir propensities,' having been a newspaper conductor, collection agent, theatrical manager, and treasury clerk. In Port Angeles, he founded the First National Bank and later the 'Bank of Port Angeles,' which functioned primarily as a vessel for speculation and false representations. He was eventually convicted of embezzling a mortgage note and sentenced to eighteen months. The list of victims is long, including local residents, the Knights of Pythias, and banking institutions from Seattle to San Francisco.
“It enabled Schwartz to do collecting, buy warrants, issue a little exchange—make a lie. He was, therefore, enabled to borrow money from other banks.”
Benjamin F. Schwartz was a classic 'confidence man' of the frontier era, mirroring modern investment scams where the lack of actual capital is hidden behind a veneer of local legitimacy. While his escape seems comical, the financial damage he caused to individuals and small-town institutions like the Knights of Pythias underscores the high stakes of frontier banking.
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