The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1874-03-26
CITY NEWS.

} JUDGE HUGHEs.-Atter our repor
closed Yesterday, the examination Of wit
, nesses for the petitioners In the case o
. Cappell & Co. VS.. The Building Fund ant
Dollar Savings Bank was commenced.
, A. Capped was the first witness examined
He said that A. Capped & Co. were credi
tors of the Dollar Savings Bank in the srn
of about two thousand dollars t',is
amount had never been paid by the bar k
but the firm had given checks, which were
certified by the bank, and with these we
had paid various parties; had sent Dix
d Steiner, of Baltimore, certified check
for $500, which had been returned to them
as not good did not know whether pay.
ment of it had been demanded of the bank.
Thomas S. Armistead, ESQ.,, lately
cashier of the Dollar Savings Bank, was
sworn, and testified as follows: That the
bank SUSPENDED payment on the 23d of
September, 1878; the bank book of Cap
pell & Co. was shown him, which he re-
cognlzed; he marked the check $500
good, to be paid out of the old fund I; he
had never seen it since; that the balance
of Cappell q Co., as appeared on the
book, was $S39.95; he was tested to
look at Tyler's account on the ledger /;
could make nothing out of it without the
journal; he also looked at Smiths ac-
count on the ledger, but without the jour
nal could make nothing out Of it; he
was requested to look at Burch & Bros.
account on the ledger, and testified that he
sold them some of the paper Of the bank,
and charged it against their account /;
James III. Smiths account was seven :
teen hundred and odd dollars; Mr.. Smith
decline the paper of the bank !; he YVES
requested to look at Garber's account, but
could tell nothing about it without the
journal; same testimony with regard
to the account of III. Whitlock testified
that Mr.. John Mccormick had 5000 to
! his credit in November, which he thought
had been paid in money; he was re-.
quested to look at William r. Tyler's ac-
count, and on October Goth, 1878 I; found
it charged with $1,000, which was paid in
paper the bank at the date Of the deed
did not owe 500 900, but thought it owed
over $4,000 at the time of suspension.
Cross examined-The bank suspended on
the 23d of September, 1873; he thought
he had right to pass paper in payment of
checks did not know when he resi- gned
as cashier, but the books, In the hands o f
Mr.. Warren, would show; made a state
ment of assets and debts at the time of
the suspension of the bank, which showed
it would eventually pay its creditors and
stockholders /; thought at the time the
deed was made that the banks had assets
more than sufficient to pay all of its credi-
| tors.
At this stage Of the testimony Mr.. Arm
| istead was told to stand aside, and Mr..
Wren was called to the stand, but the court
adjourned, without hearing his testimony,
until this morning at ten o'clock.
| The deed of trust mentioned in Mr..
Armistead's testimony was made on the
Sth of July, 1873. Notwithstanding the
fact that the Coleman trial was progressing
in the Hastings Court, and several meet
| ings of great public interest were being held
| yesterday, the United States District Court
room was filled with a large crowd of anx-
ious spectators. Our people are deeply
| interested in this case.
Mr.. Robert Verne was the first witness
called upon the opening of the court this
morning Stated that he was the financial
manager of the firm of Cappell & Co.;
bank owed the firm balance of $500 at
time of suspension drew check in favor
of Dix & Steiner as collateral for debt
due them, and had it certified had an
other similarly certified in favor of J. d..
Briggs; neither were paid, and the same
result obtained in the case Of another
check neither one of the firm consented
to the deed.
Cross-eramined. Banks suspended 23rd
September made deposit that day of
$3.50; gave checks after learned Of bank s
suspension, but, with the exception of $72,
never got any money from the bank after
that date; got some money from Mr..
Armstead after that date as personal
loan, which was returned; the bank
offered me some paper in satisfaction of
the amount owing to us, which we refused !;
am stakeholder in the bank; was not
present at the meeting Cappell g. Co.
were not stockholders; we are each
stockholders, individually knew there
was to be O meeting of the
stockholders of the bank; don't re-
member the manner in which ] received
the information might have been told by
some person, or may have read notice in the
papers believe there was notice in the pa
pers was not present at the meeting gave
my proxy to Mr.. Henry Bodeker, to vote for
me in the election of officers; was present
at a meeting of the depositors of the bank
a short time after the execution of the deed
of trust; the meeting was called to take
counsel as to the best mode of proceeding
to protect the interests of the depostors ;
various plans were suggested; commit
tee was finally appointed to wait upon the
trustees appointed by the stockholders and
have conference with them; did not
attend the subsequent meeting of the de.
|positors to which the committee were tc
make report.
| Mr.. John Il. Bossieux called, when the
counsel for the petitioners moved that the
deputy clerk be directed to take the testi
monY of this witness, as he desired to use
it as the basis of future motion. The
clerk was accordingly directed so to do.
! The witness stated that he was
. president of the bank from it:
organization up to the time the trus
tees took possession had never form
ally resigned the office; his duties were
those usually pertaining to bank president
to supervise and overlook the affairs Of tn,
bank /; had no special powers conferred
upon him by the directors, other than thos
: ordinarily delegated to such an officer /; tn
: finance committee, appointed from tn
board of directors, supervised the discount
and loans this committee met every day
:, or two, as business required, but had nj
regular time of meeting they were within
easy call and could be convened at shor
!, notice; there were some funds il
n A