The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1851-07-08

An Important Trial-In Morristown. N. j., last
week. Harvey Dayton, Cashier of the Stale Bank
at Morris, N. j, which failed about two years
since, under strong suspicious of fraud, was tried
for perjury. The charge was that in making the
affidavit required by law, that the bank had a
sufficient cash capital to enter upon its business, he
had sworn falsely. He had sworn, with The pres
dent, that the bank had cash capital of $40 900.
1t came out in evidence that this cash capital con-
sisted in great part of checks drawn by individu-
ais, and of notes of the Bank of Susguehanna,
which failed about the time the Morris Bank did.
1t was insisted, on The part of the State, that the
legal meaning of the term cash capital for bank
ing purposes" was either specie, or that which
was convertible into specie, at the will of the bank;
and that the Susquehanna bank notes were not
specie, were at a discount in the market, and the
banks would not receive them on deposit; that the
checks were not specie nor its equivalent; that
when they were placed in the bank they were not
placed there TO be used for the purposes of the
bank, but merely to make up the sum necessary to
start the bank.
To this it was replied, that such checks had
always been treated by banks as cash, and were
stated in their daily balances; that the Susque
hanna bills, though at a discount, were good and
that banks treated such funds cash in their daily
transactions.
The trial was commenced on Tuesday last; a
number of witnesses were examined, and the ar
gument closed on Friday, w ~ Judge delivered
his charge, and the jury iced at quarter to
seven q CLOCK. IN TWO N0urs ttley returNSO, anU
rendered verdict of guilty, thus deciding that
Dayton, in swearing that the bank had cash cap.
ital committed perjury, because that capital con-
sisted of notes of other banks, and checks of indi
| vduals.
| 1t is said that the manner in which the jury ar.
rived at their verdict is curious enough. One Of
| them proposed, as soon as they were called up
/ that each should write his opinion on slip O
paper and put it into a hat, and that the slips
should then be taken out and read. This wa.
agreed to, and the result was, ten for guilty, ant
i two for not guilty. The same process was agaiL
| tried, and the result was the same. Each wa.
| then asked his opinion Uiua Uoce, when it was as
ceriained that Owen, who is cousin of Dayton
and whose wife also bears the same relationship
him, was for not guilty; also Bodine, who, beiort
the trial, had expressed himself favorably towards
| the accused After some discussion, the ballo
was tried the third time, when there was complete
unanimity-all Of the ballots bearing the wore
guilty.
After the jury retired, the Court called tbs
case of Lambert Norton, the President of the Bank
for the same offence with which Dayton, the
Cashier, stood charged, both having sworn jointly
to the affidavit asserting that there were $40 OCT
bona fde cash capital in the bank. Mr.. Penning
ton replied that his wife was sick, but that he
pected him in the morning.
The Court suggested that, in the absence o
Norton counsel proceed with the case against tn
Directors, for conspiracy to defraud the Stat
Bank at Norris by erasing the name of Peter San
derson, endorsed upon draft found in the bank o
the 31st of October, 1S49, the day the bank failed
Counsel on both sides agreed, and the wa
therefore proceeded with. baltimore Patriot
Note.-By the mail received in New Orear
! yesterday, we learn that the Directors have bee
! acquitted The decision is deemed strangely il
consistent with the conviction of Dayton. [Edito
Crescent.