The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-09-12


draw that instantly, and the draft would have
been just as good as the greenbacks. In speak
lns Of MIR. Englishs investment of this money,
MI. keteham grew eloquent on the value of
per cent bonds, and depicted to you what an
elegant investment they were l want you to
remember his eloquent description of the value
and security of per cent bonds. He said there
is no danger of loss per cent. bonds; there is
no trouble about the shrinkage in them al you
have to do is to take your shears and go around
twice year and clip off the cou-
pons, and they are. as good as the
gold. Gentlemen, want you TO remember Mir.
ketcham's statement on that point. If Morrison
and Miller had done that and nothing more with
the per cent. bonds that the bank had when
John Z. New and John c. Wright delivered that
stock to them, those bonds themselves by the
middle of 1882, would have been worth to the
bank over $500, 900. and no shrinkage or loss
them. Ii they had just held those bonds and
nothing more, they could, out of the premium
on them, and tho interest on them, have paid off
all the banks losses. When / come to talk to
you about the actual condition of that
bank, want you to remember what Mr.. Ketch-
am said about the value of per cents. as good
Investment
But Mr.. Ketcham says that Mr.. Lynch has
sworn falsely with regard 20 the anonymous
letter upon which he required by the Comp
troller to make the examination or Oct. 3, 1877.
He says that letter came in the due course OF
the mail by Sept. IS, and that the examination
took place on the 9Th of October. You remem
says when the letter came he
may have been away from home; that
he very often was away from home for week at
a time; that he does not remember when he got
the letter, but as quick as he could he made the
examination. He swears, furthermore, that he
did not tell the managers of the bank of the ex
lstence of that letter. and they to you tho
first they ever saw of it or knew Of it was when
1t came in this certified copy of the examination
procured for evidence in this cause Now, what
is the use of charging Mr.. Lynch with swearing
falsely on that9 What motive had Mr.. Lynch
to do any wrong in that matter away back In
October 1877, long before it was ever supposed
there wouldsbe any negotiations between Mr.
Morrison and Mr.. Miller and tho officers of the
First National Bank9 What possible motive is
there now for Mr.. Lynch to lie about the matterl
Mr. Ketcham says that the November dividend
was paid right after Mr.. Lynch had
out to profit and loss, and that, instead
of doing that, the officers, New and
Wright paid the dividend That is true, gentle
men, and why is it true? It is true simply be-
the fact to be, that the officers of the bank had
not then got ready to charge
out the shortages, and the Comp
troller did not find any fault with their action.
Mr. ketcham, in talking about the amount due
to the First National Bank by Wright and New,
says that there were overloans. The evidence
proves that Mr. Morrison was complained OF by
the Comptroller for making overoans to himself,
mer to show that the Comptroller ever complained
of John c. New or John G. Wright for making
overloans to themselves. Mr.. Ketcham says
these excessive loans were granted because they
had plenty of real estate; but, ne says, real
estate is not money. 1t is a truism, believe,
recognized the world over, that real estate is not
money. Mr.. Ketcham went on to say that real
estate could not be realized then. He said it
was very bad and unlawful for them to make
such large loans to themselves, although they
had al Of TAFT Mr. oil oh
swears to you that he would not have hesitated at
all to have loaned them even than they
borrowed | expect Mr.. Ketcham did not think
just where his remarks would apply against him
and his case. Do you remember John l.. Ketch-
ans testimony as to the condition Of the Indiana
Banking Company at that timer What was the
capital of the Indiana Banking Company? Three
hundred thousand dollars. What did the part
owe TO the Indiana Banking Company?
Forty nine Thousand dollars on their individual
accounts How much real estate did the Indiana
Banking Company then carry? Two hundred
and twenty-five thousand dollars. That is what
John l.. Ketcham swears. Now, Ketcham says
real estate is not money; still, while the Indiana
Banking Company had all of its capital except
$75 900 invested in real estate, and while its
partners owed to it $50. 900 out of the remaining
S75, 900, and while it really had only about $25-
900 of available capital, it bought, if j. l..
Ketcham and F. A. W. Davis correct. $780,
900 worth Of national bank stock! What do you
think of that? That is the evidence just as john
IL. heCcndm ana Davis IeaVe It. JOnn IL. hetch-
am admitted squarey that it was a matter of
grave doubt if the Indiana Banking Company
could then. if pressed, have paid its debts on
liquidation; that it would have taken long time
and careful management and that if it had
gone into the hands of a receiver it
and yet while in that condition he swears that
it bought 1892, 900 worth of the First National
Bank stock. There is morals for you!
Mr.. Ketcharn said that plaintiffs had not the
evidence Morrison. do
prived them of his evidence and that they had
to rely on what could be picked up here and
there. In that connection l ask once more,
what was in the white envelope that came out of
the tin box9 Why, Mr.. Ketcham put man after
man to work hunting down Mrs. Morrison, and
even procured a man to go there and get her
daughter to rummage through her papers in her
absence, to see whether they could not find
something more. And what is the evidence?
Every time anybody went to Mrs. Morrison and
asked her about it, she said: Il gave Mr. Duy
all the memorandum books and the memoranda
had with regard to these transactions, and he
took them down to the INDIANA BANKING Com
PANY." That comes out. every time Talbot
went to see her at my request, through Mr.
Wright and she told him the same. Mr. Duy
testified that he went to Mrs. Morrison's house.
and got what he thought belonged to the papers
of Mr. Morrison; that he had access to them,
and that he took them down to the Indiana
Banking Company-and the yellow envelope
turns up with some memorandum in it, and
the white envelope turns up with none in 1t!
Gentlemen, +. A. w. Davis and John l.. Ketch-
am were then in charge of the Indiana Banking
Company Mr. Ketcham told you, gentlemen Of
the jury that John c. McCutcheon is perjurer
and asked me to define what his action was, if it
was not perjury. When | get little further
along think can do that to your satisfaction
l think you are already perfectly aware of the
facts in the touching John c. McCutcheons
sworn statement of the condition of the bank
and that he coud not have made them otherwise
than he did: but [ shall have something to
say about that in another connection. / call
your attention to it now for the purpose of sta
ting that Mr. Ketcham, notwithstanding he
says now that he then had in mind@he state
ments sworn to, and he had them all ready for
evidence, and although he knew he was going to
put Mr. McCutcheon on the stand, and make
him testify regarding them, stifl he sent word to
him to come to the Courthouse and help them,