The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1875-07-13

The PARKER CAsE.-This Court met at
10 a. NJ. yesterday. The Court stated
that, in consequence of the illness OF Mr.
G. d. Melton, one of the attorneys for the
defendant, jury No. 1 would he dis
charged until this morning, at 10 o'clock,
and jury No. 9 until 10 o'clock Friday
morning next The Court then ad-
journcd until 10 y. II. to-day.
The following is substantially the case
as made ont by the State against Niles G.
Parker, defendant: During the time II.
II. Kimpton WIS Financial Agent of the
State, it was his duty, among other
things, to effect loans for the State. pav
the interest due on bonds then outstand-
ing' and to meet loans thus made as they
became due and payable. In order to
rothccatc the bonds of the State as Sc
curity to the lenders. These bonds thus
hypothccntcd, had attached to them cou
rons, which indicated the interest due
on the bonds, and these bonds had never
before passed out Of the hands Of the
State by sale, and, consequently, rs the
State does not pay itself interest on its
own property, the Financial Agent was
not called upon to pay these coupons.
These are called dead coupons. These
bonds had been hypothecnted as pledge
1t is true; but, until the pledge Became
forfeited, the property or ownership of
them remained in the State The loans
thus effected were met by the Financial
Agent when they became due, and the
bonuS were returned to the Financial
Agent before forfeiture. The coupons due
on these bonds before they were sold were
detached and sent by kinipton to Niles G.
Parker, then Suite Treasurer, to be can
celed according to law. It was the duty
OF kimpton TO pay in gold the interest
on the bondJ which had been sold by
the State, but not hypothccatcd, or, if
hypothecnted, had been forfeited. TO de-
tnch the coupons then due, as vouchers
OF payment, and return them to Parker
MS Treasurer, to be Cancelled also. Kimp
ton sent Parker the coupons actually due
and paid, and the dend coupons which
had become due and were dead before
the State parted with the bonds to which
they belonged, and Parker receipted to
kimpton for them oil. There we're
S460,OO0 Of these dead coupons, and
these, with the coupons actually due and
pald, should have been cancelled by Par
kcr MS soon MS they came into the trea.
sury; for, If by any means they should
again pass out Of the treasury before they
were Cancelled, the State would become
liable for them to innocent holders. as il
would be impossible for the public to
know whether these coupons hud become
due before or after the State hnd sold the
bonds to which they were attached.
These dead coupons, however, show
upon their fnce to what bonds they be-
long, us, indeed, do all coupons, and the
treasury books show when every bend
IL ~ H..
cinls con detect them, although outside
parties cannot. Now the State claims
that the defendant, Parker, Cancelled
these SioO,UO0 dead coupons, and placed
them in the stead of $3.50. 600 coupons
which kimpton had paid in gold,
which latter coupons he distracted
from the treasury upon or before
his retirement therctrom, without
having Cancelled them. The State
has proved that there nre SloO. COO dcad
coupons cancelled in the treasury, and il
has proved that Parker, in May, 1873.
was III the possession of certain coupons
which he said he had got from kinpton
in the final settlement Of the State with
her Financial Agent. It has proved that
SlSO, Go0 of coupons which, according to
fnrkors receipt to kimpton, should
have been i'll the vaults Of the treasury,
were missing and Unaccounted for when
the present incumbent, Mr.. Cardozo.
went into office. 1t has further proved
that Mr. \. j. p. Owens, Senator from
Laurcns County, rs ''agent, funded over
S2oO,oO0 of coupons; and, according to
the testimony of Mr.. w. B. Gulick and
Capt. j. 0. Lndd, Parker admitted to
them that he had employed Mr.. Y. J.P.
Owens to fund his coupons for him.
That he had coupons and wanted to have
them funded is also proved by Parkers
letter to Ladd, while the latter was in
Charleston. Mr.. Y. j. ?. Owens was
subpnnaed MS witness for the State, but
failed to appear, and this is considered
strong circumstance in fnvor of the the
ory and proof of the plaintiffs cause
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