Tale of infamous Hormel embezzler closes history series
Published 10:36 am Tuesday, August 23, 2011
Laura Helle, executive director of the Hormel Historic Home, has worked hard for months on something of great historical significance to Austin.
She’ll get the chance to share that information at the Mower County Fairgrounds at noon on Thursday, Aug. 25, when she presents “How Cy Thomson embezzled $1.19 million from George A. Hormel and Company.” The program is the final installment of Mower County Historical Society’s Lunchbox History Series, where the public can enjoy a free presentation over its lunch hours.
Though Thomson’s story has circulated around the area for years, Helle hopes to shed even more light on one of Austin’s most important events in history.
Helle will go beyond the story itself and question how devastating events could have been if Thomson had bankrupted Hormel. Even Dustin Heckman, Mower County Historical Society executive director, is eager to discover more of the story.
“What if (Hormel) would have closed 90 years ago?” Heckman asked. “What would Austin or Mower County look like if we didn’t have Hormel?”
Helle said the scope of Thomson’s crime was huge, especially compared to today’s standards. Helle said the scheme would be like someone
stealing $14 million today. Thomson stole money throughout the 1910s to 1921, when he was finally caught. Hormel had been in existence for 30 years when Thomson was caught, and the company was already strong. However, Helle said the amount taken was more than Hormel’s annual growth, which was seriously damaging the company’s cash flow, something to which company founder George A. Hormel and his son discovered.
Furthermore, the story is ironic. Thomson committed his crime while being one of the community’s most respected citizens.
“He was very well-liked, well-respected, thought highly of,” Helle said.
He was a Sunday school superintendent, host to community events on his farm, head accountant for Hormel, and he never missed a day of work. But Helle added those second two facts explain how he was able to pull of such a large scheme. Thomson abused his power by fooling banks, fooling investors and especially fooling his superiors at Hormel. He was the man nobody ever would have expected of committing such a crime. Even after Thomson was caught, he knew where all of the money went — all of it.
And because he was such a smart and seemingly upstanding citizen, that piques Helle’s curiosity even more. Because of his qualifications and demeanor, Thomson could have made a lot of money the honest way, Helle said. But had Thomson not done what he did, Helle wouldn’t be speaking this Thursday, either. And she encourages anyone interested in Hormel, Austin or history on any scale to attend the lunchbox session.
“It’s one of the most fascinating chapters in Austin history,” Helle said.
Local author Eileen Evans will also be on hand to share information and sell copies of her book, “Cy Thomson: The Generous Embezzler.” Between Evans, Heckman and Helle, there will be a wealth of knowledge, which could play out well for the question and answer afterward. Furthermore, Helle continues to dig up new facts every day. She’s working on her presentation right until the last minute — partly because her research has been an adventure.
“Every detail that you dig up is just like ‘oh my gosh,’” Helle said.