The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1880-07-09
A Financial Sensation in Columbia.

q
the Supreme Court of the State, and also with
the funding Of the bills Of the Bank of the State
under re ;ent Act of the Legislature, had made
affidavit before Trial Justice Fickling, charg-
ing Alexander Laughlin with grand larceny.
in that he had unlawfully and with fraudulent
intent appropri tied to his own use cei tain bills
of the Bank of the State presented to the spe-
cial commissioners for funding under the Act of
l8798O.
The high character which the accused has
hitherto borne operated in his behalf last night,
md after the disclosure had been made n num-
Der of prominent gentlemen were found ready
to guarantee the prompt appearance of the ac-
cused TO. day. At IL o'clock this morning, the
hour fixed by counsel on both sides for n preim-
mary hearing, the accused, ccompanied by
his counsel Messrs. Wallace, McMastcr and ex-
Judge Melton, appeared before Trial Justice
Fickling, the State being represented by Attor-
ney- General Youmnns.
In opening the case Mr. Youmans said it was
grave charge to be preferred against any man,
| and without formality the counsel for the State
was willing 10 disclose the eutire case so far rs
they knew it, and in that view, in the examina-
tion of Col. James C. Colt, he would stand upon
| no tecbnicalities.
Hon. james c. Colt, sworn, testified, rs fol.
| lowe: The Act provided for pert 10 exam
| inc tho bills presented and determine bet weeu
their validity or invalidity. 1t was impossible
| for him to examine them oil in person because
| the elimination Of the tninted from the spurious
| or counterfeit bills was involved. Witness was
unable to distinguish between the two. Under
tho provisions of the Act he employed Alexan-
| der Laughln so to examine those bills
| Laughlin was employed upon the recommended
tion of Col. Z. W. NcMuster, who spoke Of hint
as an expert who had long been cashier of ths
Exchange Bank of Columbia and who was fa-
miliar with bank bills. His duties were TO ex-
anime packages OF bills presented for funding
and count them, separating The genuine from the
spurious bills, and to cancel them after exami-
nation, put them up IN packages, seal and certi-
fy upon the face of each package the amount of
bills found valid, also the amount found invalid.
The packages were tied up in brown paper, and
all the corners sealed with wax and stamped with
q seal specially made for the purpose.
The first ntimation that things were going
wrong on the 29th of June when Governor
Simpson sent for witness and said that he had
been informed that there suspicion that ir-
regunrities existed in connection with funding
the bills. Witness went to the State treasurer
and told him that he desired TO make exanr1
ination CT certain packages. Upon the couDd
the witness did not find the bills TO correspond
Il with the amount certified on the face of the
package. The package said to contain S2,Ol5 So
was found to contain only Sl,GlG 10. Mr.. Cola
stated that SIX hundred thousand dollars of bills
had been counted sealed and certified, for which
only about $lG0, 900 in bonds had been issued.
In the cross. examination by defendants attop-
ney Mr.. Colt said Laughlin had no regular az
sistant in his work. The cnnceiling of the bills
was done by machinery, Adam Green, the coll
OTcu messenger, HeNcrally OelnR emplOyeu IN
this service Up to tha 9th of June witness had
two assistants in his Office, Lee Ilagood and H..
Nj. Davidson. The latter kept the Key Of the
safe. Langhln counted tho bills, aud The cus~
tom was 10 put the packages intNe SAFE. Wit
ness was sometimes absenu duriug tho counting
and cancellation Of the bills.
The Attorney General argued that the case
was one of great importance;. involving the va
lidity of over 100000 OF B;ls. That bond Of
81, 900 would be mockery of Justice. He asked
thaf thn h..v a oh,
than 100000. rs, 49,
Afler further argument the .Csart decided TO
6x ils bail at $4,000 f0r tke appeasaucs or thsS
defendant at the July term of the Sessions
Court. 2,-' -ar.' - . i-, iy,,!., I
COLUMBIA. July y.3.-After the examination,
which was held before Justice Rckling yester-
day, it was determined to have further and
closer count Of the bills which had been pre-
sented atthe earliest practicable moment. With
this intention, COL Colt secured the assistance
of Messrs. julius III. Walker, bookkceper. and
". Hasel Gibbes, teller of the Central National
Bank John ID. Alexander and George w. Par
ker, brokers and experts in financial matters.
proceeded to count the packages which had not
been filed in the Treasurer's Office These genr-
8 tlemen were introduced as witnesses TO day ON
the motion by the counsel for the State to in
crease the bail, testified that they counted tho.
contents of seven packages said 10 contain twen-.
Weight thousand dollars. In one package five
hundred dollars was found ~ be missing.
John ID. Alexander, bond and stock broke er
, Of Charleston, testified that he had occasion to.
. examine some Of the packages certified TO by
1 Laughlan. In one package examined by witness.
: Today, certife by Laughlan to contain So GOO.
3 only 500 were found.
Geo. w. Parker testified that since Laughlan
had been employed as an expert in Colts uffice,
he had offered TO witness some small lots Of bills
Of the Bank of the State for sale. These lots he
bought in April and May. Two or three weeks
after that. he had asked what witness would
, give for two thousand dollars in bills lie said
the bills were sent to him by friend from the.
: up-country.
Thomas S. Gibson, broker, testified that he
had bought in May June over four thousand
dollars face value of these bills from the defen-
dant They were brought to him by accus ed in
: envelopes marke Laughlin, Columbia" pur-
porting as coming from the country
ID. Gambrill, broker, testified that about the
middle of June Laughlin came to his Office and
enquired what he would give for the bills of the
\ Bank Of the State. saying that q respondent
of his (Iaughlin's) baG about four thousand
, dollars which he desired to fund il he could not
sell for forty. five. Witness bought them at for.
!, ty-fve and gave Inughlin q check for eighteen
, hundred dollars in payment therefor.
The evidence was closed here, and Justice
Tickling granted an order for un increase of tho
bail from twenty FIVE hundred dollars to fifty
thousand dollars.
No doubt is now entertained as to his guilt.
the evidence of Gambrll aud Gibson being con-.
elusive to the most casual partial observer.
Hewas sent TO Jail about o'clock this afi ernoon,
5 IL being impossible TO give the $50 900 bail re-
quired by u Q trial justice. The whole affair is
greatly regretted here.
LATEn.-It is said upon good authority that
Charles Logan, broker, here, who IL The attorney
in fact for ex-senator Robertson, who held sew