St. Paul daily globe., 1888-07-18

OOO.
SAT that time our firm had some s13,-
600 in bills receivable" continued Mr..
Shotwell, "but we were receiving lot
every day."
'Do you know what your balance in
the hands of the bank June l wasp
asked Mr.. Jamison.
81 can not tell without seeing my
books" replied Mr.. Shotwell, smiling
serenely.
When did you begin sending these
checks East?"
"About the middle of May"
"When you left Minneapolis, the
evening of June 2, you did not know
what your balance in the Hanover bank
was, did yOu?'
81 did not"
"You said yesterday that you could
remember what your balances were
there every day, did you nOt?'
81 might have said so, but | cannot
ing at a memorandum made at the time.
On the I'd and 5th of June / think there
was an increase in my deposit in the
bank at Hanover"
''Did you go into the Hanover bank
when you arrived in New York?'
81 did not.''
''When did you send this telegram to
Mr.. Clerihew in Minneapolis telling him
everything was all right?"
1.-The evening of the 5th."
''When you sent this telegram you
did not know what your balance was,
then?"
81 did not; but on the 5th deposits ag-
gregating $4,000 were placed in the
bank to my credit.''
Mr.. Shotwell wanted to get his men,
nd in, lot 60 HI I>,,ns \,
the bank, in order to verify several
statements, but-was not allowed to do
so just them.
'YOu are very certain" asked Mr..
Jamison, ''that this memorandum was
not made up last night, are you?"
''YeS, sir" replied the witness, 81 am
certain this memorandum was not made
up last night-in fact can prove it was
not, for when | came home from New
York handed it to the bookkeeper at
the store"
At this point Mr.. Shotwell was al
lowed to go to the office and secure this
memorandum book. While he was gone
the court took recess.
On his return with this memorandum
he read it, showing the balance to be as
follows:
June 6, 81, 465 rs; June z, in the morn
ing, S27, 7,465.75. Of this amount s25, 600
was borrowed in New York, nothing be-
ing given in exchange. A check for
$4,000, given in Minneapolis several
days before, came in there on June z,
and was paid out of this S27, 7,465.75.
June s, in the morning, there was bal
ance of S27, 1876 in the bank. Mr..
Shotwell did not know exactly when
this check was paid, and could not give
any definite testimony in regard to the
balances. Finally he said he thought it
could not have reached New York the
Sth or 9th. He knew checks were out
which would considerably reduce this
balance. The $4,000 check was due on
the Sth, and he presumed it was paid on
that day.
In the afternoon of the Sth the bal
ance in the bank was S1S,539.15. The
morning of the 9th the balance was the
same as the evening before. A $1,000
check was paid the 9th, leaving bal
ance in the bank of S36, ,539.13. The way
the money in the bank was increased
was by depositing borrowed money
there. He had not even given his note
or security for this borrowed money.
George A. Clark had loaned him $50, 600.
for which he had been given in eX-
change three checks of the Nicollet Ma
tional Bank of Minneapolis for $1,000
each. These checks Mr.. Shotwell drew
himself before leaving. The morning
of the 18th there was balance of $751;
539.13 in the bank, check of $1,000
having been drawn on the amount the
day before. In the afternoon there was
a balance of S1,371.41 left in the Hano-
yer bank.
''ThiS was the balance l was actually
entitled to- said Mr.. Shotwell. 1.-The
morning of the 10Th the balance was the
same, excepting $500 had drawn out
for my own use, leaving some 500 in
the bank. The same day notes for
about $4,000 came due at this bank,
and were taken up. These notes were
in favor of various persons, as follows" +"
and Mr.. Shotwell read the names and
amounts.
''The bulk of the money deposited in
the bank was deposited by George A.
Clark d Co. to your credit, was it not?''
asked Mr.. JamIson.
''It was," replied Mr.. Shotwell.
"What arrangements had you made
in the East for borrowing money before
you left here June %"
II had made no arrangements at all. ;"
"Yet, when you went away, you had
given checks aggregating S120,000 OH
the Northwestern and the Nicollet Ma
tional banks, had you not?"
Yes, sir; somewhere near that
amount"
"At no time had you enough money
to meet these checks, had yOu?''
Il did not have money enough to
meet all of them.''
'When you gave the three $1,000
checks on the Nicollet bank to George
A. Clark q Co. you knew you had not
enough money to pay them?''
''That'S the way things stood; but we
had a running account with the bank.''
''lt ran most all one way, did it nOt?''
asked Judge Shaw.
mo, sir, it did not; the bank has
used considerable of our money!" re-
piled Mr.. Shotwell. as a laugh went
around the room.
Had you made any definite arrange
ments to secure money from any one on
the 9th day of June?'
81 had not"
"And you sent Mr.. Clerihew a tele-
gram telling him everything was all
right on the 5th, did you not?"
81 did, but before this w. l.. Strong
and others had agreed to advance us
money on our individual paper. This
money could not get, however, as they
finally refused to let me have it. There
was no question raised as to my credit,
but the inconvenience 1t would cause
the lenders of the money"
did you and Mr.. Clerihew talk over
financial matters before you went
East?'
Eyes, sir, and l told him thought
that had drawn on the Nicollet bank
more than he would be able to meet
and if he should find himself short to
draw on the Hanover bank.'
"YOur hope then was to raise money