The Helena independent., 1893-11-30
THE GRAND JURY REPORT.

Officers Of Several suspsnded Danks Are
Severely Ce.surod.
The report of the grand jury says they In.
vsstigatsd oil cases brought 10 their notice,
wherein Witnesses and necessary papers
could be procured. In q number Of cases
whore the defendants had been bosnd over.
the grand Jury say that they found the
evidence insufficient to warrant them In
finding Indictments, and recommend that
the defendants bs released. These cases
were as follows: Frank L. Carey. book
keeper In the Livingston National bank,
making false entries; ]. A. Savage. A. W.
Miles and Alan Maoonoshis. attestinR, as
directors of the same bank. . falae rsroTt
Il. Merrill. assistant cashier of the Stock
growers bank, Of Miles City. On . specific
charge Of making false entries in the books;
John DunniQan and John Brown, obstrsot-
ing the mails; J. w. Collins, Antoin Benz
and Herman Konnenan, violating internal
lily, conspiracy to rob the mails at Mann,
Cascade county. . charge on whish some Of
them had proviouely been tried. and NO
conviction secured. The report then takes
mp the business methods Of some OF the
suspended banks Of Montana, and on this
point IL says:
"Your grand jurors belisve that thsy
would bs dsrsliot in the discharge of their
duty 10 the court il they failed to visit
severe csnsavs u,on the directors Of the
Livingston National bank of Livingston,
Mont, the Merchants National bank Of
Great Falls. Mont; and the stoekgrowsrs
National bank Of Miles City, Mont. Each
Of these banking Institutions has been
compelled TO close its doors. suspend pay
ments TO its depositors and cease doing
business. Receivers have been appointed
In each case BY the comptroller of the our
renoy. owing TO the unsatisfactory 0ondi-
tion Of the banks resources. The conss-
faith have done business with these insti
sutions and have loft their money for safe
keeping. In full confidence that II would b
honestly returned to them. with legal inter-
est, have been grossly deceived and
wronssd; their onndenee abused; their
speculation by those in charge. and. in
some instanees. have bsen deliberately
swindlsd by the bank officials out Of sums
large enough to be considered comfortable
fortunes. Your grand Jurors are Of the
opinion that the fact Of being IN offiosr Or
director OF nationsl bank ought not to
give any man license TO swindle and do
fraud his fellow men. Tho unfortunate
condition Of the banks named above and
the consequent hardship and loss to inno-
| cent depositors. a. we'll a. prostration of
the business com muntSy. are. in the opinion
| of your grand Jurors. largely duo to gross
and inexousablo neglect Of duty on The part
Of tho bank direoso 9; neglect Of duty and
An appar eut indife snce to their oaths 40
directors SO fragrant, resulting in sffeots 20
grave and injurious, alike TO lndivtduals
aad the public. shat should be distinctly
declared TO be a crime by the laws of the
United States. National bank dirsotors owe
a duty to the United States. to the bank de-
poaitors and the business puotio; that duty IL
to faithfully and honestly oversee and
rage the business OF the bank OF which
they are Offices. Each director 10 re-
quired by the laws Of the United States,
i'm ediatsly after his election or appoint
ment to Office, to make and subso ibe an
oath which contains she following wo ds:
DO solemnly swear that will. a. far a. the
duty devolvss upon ms. diligently and
honestly administer the Affairs Of said
association; that l will net knowingly vio-
late or willingly permit 10 be violated. any
Of ths provisious OF the statutes OF the
United States. under which this assooiat tion
has been organized This oath 10 required
to bs forwarded by each national bank
director to the com pt6oilsr Of the currency
and is kept ON file by that ofdoer at Wash
ington. 1t 10 our opinion from the evil
denee which has been presented to uA that
this oath IL regarded In the brsskinR
! rather than In the Observance. II seems
to be made only to be grossly violated by
the directors Of national banks. De-
positors and the business community
have right 10 rspose tho utmost confidence
in ths stability and integrity Of national
banks. in the faithfulness and honesty of
the officers OF the same. Those entrusted
with tho funds and property Of others
OF pht TO be diliQsnt and honest In the dis
charge Of their duties; they should be held
to a striot accountability for failure 70 act
In absolute good faith in ths execution Of
the duties OF their offioe. Ths directors Of
the banks above named have failed to dis
charge the duties imposed upon them By
law and by their official oaths NJ we'll ~ BY
considerations of fair and honorable deal
ing among men. We. your grand jurors.
dee IN ID our duty a. sworn officers of the
law In sha manner 10 call the attention Of
this hon orable oourt to ths conduct Of the
said directors and 10 TeQasst that this our
public rsprimRnd and csnsure bs spread
upon the records of this court"
THE lNDICTMRNT&
Hank Offoers. Outlaws aud Other AL