The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-06-14

70 them TO say whsther Baker was ssers: psrtnsr OF
Young at the time Of the which rise
to present controversy The jury will render sealed
verdict this morning. ~
TRIAL OF Barker Burnett, Late Cashier Of the
M. and M. Bank, Nantucket -
lFrom the Nantucket Enquirer June III
This important came before the Court Of Com
mon Pleas in session in this town. last Wednesday
morning We presume It is very generally known that
the Manufacturers and Mechsnics Bank blew up about
the middle Of February, ls4o and that examination
Of its affairs which was gone into Immediately after that
event. disclosed the astounding fact that only
the entire capital stock Of institution disappeared
but that its assets sufficient, by many thou
sands of dollars to pay the depositors and redeem its
circulation SO entirely was TINS dsporabs
the explosion the stock ofhs bank had
done believe for nearly yeas IN the mar
preceding failure represented the bank being In
very prosperous condition, although at the time
| in October we beeve-Mr. Burnell had resigned the
cashiershp in which Office he succeeded by Mir An
The excitement here in consequence of the failure of
| the bank, intense; and the affair continued for
uation the public interest in it being kept alive by the
mystery which surrounded the of the
nsy. Suspicion naturally fs upon Mr.; Barnell-with
showngand some time last summer he was complained
Of before magisrate arrested and committed to pri
SOM from which, however he was soon liberated having
given bonds satisfactory to Of our magistrates for
his at the October term of the Court Of Com
mon Pleas. At that term of the court, an indictment
was found against him-charging him with embezzle-
| ment Of the funds of the bank-but trial then
had the being continued at the request Of his
counsel Messrs Choate and T. g. CONN to the present
term Of the court MIR Burnel has remained In prison
ever since October We should say here, that some
time last summer after ms arrest however ne
with the receivers settlement Of the civil suit which
had been commenced against him in behalf OF the bank
by giving up to them property amounting AS we near
some $40 600 Mr. Burnell assigned the why
he asked continuance last October, that he under
with the receivers that II he would give up he did,
the bulk Of his property to tho bank he should never
near any thing more OF the criminal prosecution:
On eanesaAy mosnng' Inc aocussu appearea peiole
..'c couIe " lake ns .,iS new III .nree
counts mad been found against him BY the grand Jury
Two OF wntn weie uroPpea ~ .ns as.rc. ~.
Inc a M nat on Inc nsen Ji d nn
Sss ne a anu ns 1o nm .od aha I h
verted to ms own use chsSs '0I 20 gov sg9ea py MIN
favor Of Messrs sampson and TaDpan. PAYABLE on The
4th March following ff'
this was nav charpe which thu prisoner,s counsel
had had NO onnortuntv 10 exsmns the trial was at
their 1 request adjourned to Yesterday morning at s
for the nmrnoss of urv MANY had anti
cpated dicuitv in ssiectin Sut none was found
IL In comnosed Of the FOLLOWING GENT amen =
Edwara Barker Foreman: ;eorre c. Allen. John
Arlington John r Barnard David Baker George Brown
Obed bunker, ID William Cobb, Elihu Conin, Seth B.
Cof1in Charles C. CioQgeshal John b Coffin
The case was opened yesterday in behalf of the Com
monwealth by the district ttorney j. H. Clifford Esq
His address to the jury was than an hour long
Touching the belief by the prisoner that IA
of the ustment of the money caimwhch
the bank against him criminal was to
be dropped Mr. Clifford said that not the slightest
thing had been done said the part of the Common
wealth to warrant tho of any such belief
In the course Of his remarks upon this point Mr. Clifford
said that when application was made to the re.
oevers the part Of the prisoner the effect that
criminal should be dropped if the
the bank satisfied their reply was that
they could nothing about itthat the complaint had
they to Of exciting any unfounded
that they referred the to the dis
our citizens went to New Bedford to seen him Mr. Cliff
ford and few days after, when he in Boston, he
received an to confer with the counsel Of the
them
The indictment was founded on the Gath section Of
follows
If any cashier other officer servant Of any bank
shall or fraudulently convert to his own use
or shall fauduleny take or with intent to con-
vert to own use auy effects or belonging to
such bank or deposited therein he shall be punished
as is provided in the one hundred and twsntv.sxth
| chapter.
The District ATTORNEY then gave a brief account of
the real condition Of the bank ut three nrioSs ~
| existence
On the sth of April ls4a thorough examination of
it's affairs was made bv the Bank Commissioners Thev
it's capital stock to be $50 or Ss4 900
Originally 500 OOOSl6 900 or SIT 900 having been lost
thing was nerfectIv regular and in good order Tho
Commissioners having instructed the Directors to make
no more dividends until the stock should be at par
none were made for twelve or eighteen months He
should prove this to have been thorough and true ex
animation. 1t signed and sworn to by b. Burnell
Cashier.
One year after March 3Oth, 1874, tho bank was ex-
amned by the Directors, and from that examination
thew to believe that the stock was at mar within
$676s slthat is they had made up in IL months some
$2 900 Of the old deficiency. This not the true
the bank which deficient ut that very time
nearly $lS0O0 The misrepresentation consisted main.
y in false account of balances due from foreign banks
| few specimens given. The Merchants Bank Of
New Bedford represented owing the Manufactur
ers and Mechanics Bank $94s4 o. while In truth the
| NJ and NJ. Bank owed the Merchants Bank $40 10.
The balance due from the City Bank of Boston put
down ut $62 l23 H. the true balance known by rendi
ton made to the prisoner and approved by him, being
this great amount OF money absorbed from August,
s43 to March &c. e44 that during the first six months
OF the year. the administration Of the defendant
fectly correct and honest.
In March s45 the directors were made to believe the
bank in frst rate order The deficiency was all made
up and there was surplus OF $672l H. Yet at that
time the stock was all gone and $H oOO more In Dec,
iS4e, burnen was susceeded as cashier by andrew )
Norton who received statement representing the
BANK as IN very gooo conotion AI.er ne came IN an
examination nad Wnlcn ul6closcu the state