The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-02-12
On 4 Charge Of Embezzlement OF
s47,4a. - Of DEPOSIT
tors Money.
sq,he Testimony F'licited-hocking up
of the Jury and Remaining Oh
the Prisoner Until Friday.


srha ptate was Represented by Dietrlct Attorney
1ohn !. Ftnney and ghas. Luxembourg. while
Attcvneys II. O. Miller. r. II. Browne and Ohas
4. Rtnaleton defended the accused.
After ak peremptory challenges the follow
ans Jury VIVA obtained. Ohauncay Tyler. Hugo
Iaansch. a. w. Wilson. D r. Hkidmcre. u d.
<yonncra. n. Thornton. WIN. Tiltman. " y. ..
Ecott, Simon Hahar John II, Peters, Johh -
1Bensel ana "A. Leehana. Jr.
,rha dlatrict attorney opened the case ~
<sPar,nr IA evidence the act INCORPORATING the
f,,uia,apn Bavinga Bauk and Safe Deposit
Company
,,ha arst witness plaeed on the stand was Mr.
N. q. Randall. the expert who had examined
cha affairs OF the hank after the failure. He
aa,,l, | examined the minute book OF the bank
ana BY II found that Mr.. r. 9. Palmer had been
elected director Of the bank on the twelfth OF
July is7a az itwas the desire Of the directors O
ANA bank ID ten Ter him the presidency. The
minutes show that Mr.. Palmer we elected
nraeident on july 49, and remained ~ such
Hrr,, that tima until June 80. 1879, when the
knms FAILED I made the examination bf the
request OF the commissioners confirmed ~
s9os sssMmea charge Of the books. slnce, that
lmss And mate sc'ss Us careful examination as was
ceP insS q ap"p the books Of the
t,anf that the arm OF b. q. Palmer. y 10 were
Rdestsa e M bank ses from Ss ledger o'
Iuounsei Tor defendant here objected 70 w.t.
ness enins into any explanation "a tne ae,
SY N es ps sarss soa d ant snS AK
kan, " draw their own deduction The court
sustaiped this ohiseionl
~ tHe bank credit waa due the bank by y; ..
Palmer d O.. of tss 7eo, aud alsQ notes to the
amount q sss w e. aaa an 1H W ssf ne e
Of Oh. 900, none Q! which have been pnid
rsha stack Of the bank. by resolution pneeed
TEs ,ast entries In the books .pt the h,nk
shows that d g rslme, CO. on ne 81 az q its
failure. owed the bank pe'Weeh ss''"V anu
yopN q. WALTON. CASHIER.
Have been cashier since March, 1877; was
hanR. | made entries, one Of sSasas 10 and one
ri setec These entries We're mate under the
srsrs q III palmer the i pteslafps ,|u1 The 1s
diyidSaily, and one kept by the Arm Of Eiw. y
Palmer { Co.. There, were several amounts
sss &; - e Rsn Norton 'f Fer x1s one "f
Sisla 90, another one Of .s.7. 80 and Que 81
3iSss "a due by Wm A. Weed d. e one ,,, BY =; .sdo
NV sa Iae One re y, saoooo and one d slsse 90
sH "a ss ssssa d t R f'fR a aSs ~
fAPMssr and told him that obiscted y making
Ssye them charged to The profit and loss ac
sn,,nt Yae, | told him that 1t would not look
we'll these no.es WEIR e aseommaoh mot sh
entries might have been proper, but as thsv had
mann aiyen for consideration consider the
entries. were Improper. and 30 expressed my
Mr' Paimer'e account stood before these en-
tries we're made as having been overdrawn TO
!" ma M lncraaa,, Of stock war male In January.
asTA. some OF theae notes that remained IN
DsGh NM GAIN ha elease drainage
the extent ot eseh utu. On which was real'zad
about ti2l.ooo. The money was advances, by
Ichn O,oesles, sone Y oo'' limited q ha''lSs'
az not know the actual amount o. the capt
Cal stock held BY the eaa har an N het as sps
ATTORNEY GENERAL J. G. EaAN.
was assisted By the Attorney General Of this
wss eeissd by the sheriff tor taxes come time in
tne month u Juse. about ne tilteenth or TWEEN
a With H. mer
1dant. a. ia tho ananctal condition q the bank.
In order that the caaa should be properly IN
Mere was 4 JUDGMENT obtained aE INST the
bank TOR something over sas 600 for taxes
notified Mr. Palmer ,,r, that ma,, Inle Is II
Rim seven days notice before execution would
s sS tse sser and The bank
mani 81 taxes. under judgment rendered in
the Fifth District Court, ma ese ss, IT,
Rice and desired me to release, the seizure;
declined to do 20 at the time, We went together
% MT. Ogdem's office. the A.,oFney usnera. 2.
wa aV entirely solvent: TINT there was no danger
only those but all other obligations which abe
owed Under this statement ana under the
en- ant bic sb psa te ssva haa aSpes
tn the Supreme Couit~whieh never did
/ released the bank until next day. agreeing
Semmes and Fianey. and The understanding |
was whatever they decided. WAS to ha ahided by |
both rarties. They decided against MIR. Palmer. |
Then he agreed to settle this mattef. watch he |
never did He promised 60 let everything |
etand III stata qs,o hut instead Of that he with |
m IN she .u ah"ve testimony the State rested it's
Ths witnesses fer the defense we're then
j, n, oetsspy PRESIDENT LOUISIANA NATIONAL
II Ia not customary for banks to keep their
entire amount of capital on hand: II is usually |
teyes s Il o BANK keeps s ON hand
about twenty Ava per cent Of Its capital II ia
sometimes customary for depostors TO keep
A a matter Of convenience. should one
account be overdrawn tha deficit will be made
Hg By check % fhs cner th aeha a
officers and the dapastter4.
An arnuaited with Mr.. Palmer. and have
been for several years Never heard nts char
acter 81 reputation questioned until this az ,ir
GEORGE 8. LACEY.
Am vel, aeana.atad with Mr.. Palmer. His
general reputation ts coed. ! know that John
Croesley Sons & Co limited. Halifax. England.
were the holders Of atarge amount 81 drainage
warrants. given them hy the bank OF which
Palmer was prestd, NJ. As security for loan.
At one time they advanced $4,000. at another
sloo goo and Mt another ftoe. zoo more BY letter
OF credit Upon this letter of credit the sum OF
only sas 900 was drawn. Mesers Crosslay 4 Co.
.greed y, advan.s this money r. aid the sax.
fnrs bank In tidiDE over ta diff niles. 1t.
however. rnmir9 Is the knowledge Or the
Messrs. Crossiey that the moner. advanced by
them solely for the PURPOSE II aiding the bank
was being drawn upon by the derositors for |
their own account. hey withdrew the letter OF
credit, declining t. advance money fer the
benefit Of individual aaposters.
The total amount advanced by the Messrs
(lrossley was si7s.eoa. don't know the amount
due them to-day.
e. d. MOODY,