The Yellowstone journal. [volume] (Miles City, Mont.) 1893-1901, 1893-12-01
INDICTED.
The U. S. Grand Jury Find
Bills Against Bachelor,
Middleton and Merrill.
The Jury Records Sweeping Denunci-
alton of the Lax Practices Of
National Bank OMicers

For some days past the people OF
Miles City have looked eagerly for news
from Helena, where the United States
grand jury were considering the case Of
Harry f. Bachelor. as president and
manager OF the Stock Growers bank of
this city. Rumors were plenty and from
those who had been present at the grand
jury's sessions. it was learned that one
or more indictments were sure to be
found, but it was not until Wednesday
evening that any definite information
reached this city. On Wednesday Chas.
r. Middleton and Chas. L. Merrill were
informed by wire from the United States
marshal that indictments had been
found against them. and they were re-
quested to be ready to appear before the
United States Circuit court at Helena,
and arrange for BAIL etc Neither of
the accused parties were informed of the
charges that they were held on, nor was
there any reliable information as to what
had been done in the Bachelor case. but
yesterdays Independent. giving full
particulars is now at hand. and on ac-
count OF the interest taken in the cases.
we quote from the Independents report
of the proceedings at length as follows:
The grand jury of the United States
court completed their labors yesterday
and after handing in their report and a
number Of indictments were finally dis
charged by Judge Knowles. The report
which was quite long consisted almost
entirely Of condemnation of the methods
of the directors and officers of the sus
pended Merchants National of Great
Falls. the Livingston National of Liv.
ingston and the Stock Growers National
of Miles City. Four more indictments
were returned against Will Hanks as
president of the Merchants of Great
Falls others against Harry f. Batche
lor. PRESIDENT C. L. Merrill. assistant
cashier. and c. r. Middleton. director. of
the Stock Growers. and Alan Macon
achie. assistant cashier of the Livingston
bank. for assisting George l.. Carey, the
missing cashier. in his transactions by
which the bank was wrecked
THE GRAND JuRY's REPORT
Your grand jurors believe that they
would be derelict in the discharge of
their duty to the court if they feiled to
visit severe censure upon the directors
of the Livingston National bank of Liv-
ingston. Mont. the Merchants National
bgnk of Great Falls. Mont. and the
Stock Growers National bank of Miles
City. Mont. Each of these banking in
stitutions has been compelled to close its
doors. suspend payment to its depositors
and cease doing business. Receivers
have been appointed in each case by the
comptroller Of the currency. owing to the
unsatisfactory condition of the banks
re sources. The consequence is that the
despositors, who in good faith have done
business with these institutions and have
left their money for safe keeping. in full
confidence that it would be honestly re-
turned to them. with legal interest. have
been grossly deceived and wronged; their
confidence abused: their earnings frit
terered away in reckless speculation by
those in charge, aud in some instances
have been deliberately swindled 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 an officer or direc.
tor of a national bank ought not to give
any man license to swindle and defraud
his fellow men. The unfortunate condi
| ton OF the banks named above and the
consequent hardship and loss to limo
| cent depositors. as well as prostration oi
the business community. are. in the op
inion Of your grand jurors. largely due
to gross and inexcusable neglect of duty
on the part of the bank directors: ne
glect Of duty and an apparent inditfer
ence to their oaths as directors SO fla
grant. resulting in effects so grave and
injurious. alike to individuals and the
public. that should be distinctly de
clared to be a crime by the laws Of the
United States. National bank directors
owe duty to the United States. To the
bank depositors, and the business pub
lie, that duty is to faithfully and hon
estly oversee and manage the business
Of the bank Of which they are officers
Each director is required by the laws OF
the United States. Immediately after his
election or appointment 10 office. TO make
To make aud subscribe an oath which
contains the following words; do sol
! emnlN aAear that l will IA lar as ihs