The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-22

fed. 1t was alleged that the Indebtedness
OF the Indianapolis Cabinet Company TO the
defunct bank was 100000; that Francis A.
sum OF $4,000 and that Percival u. Cofiin.
the secretary, had secured similar
amount 1t was further said that $4,000
had been loaned TO the branch of the cab
met company at Richmond. besides large
amounts of capital that had been forward,
ed to the London branch. 1t was alleged
that the interest on these notes had not
been paid in cash, but that the amounts
due had been paid by the transfer OF ether
notes and in overdrafts. In aooItl99n
to these alleged irregularities. the lndi-
owe the bank between s260.o00 and 100000.
On Aug. S several mortgages were filed at
the Office of the county auditor by repre-
sentative of the Indianapolis NATIONAL.
which was the first confession That there
had been direct violations of the national
bank law in loaning money above the 10
per cent. limit. These documents were 10
secure loans by the bank, one being chat
tel mortgage of the Indianapolis glue works
on it's plant for S27,799.19. The document
was not dated. but had been acknowledged
on July %. The authorized capital stock
of the glue works was $4,000. There was
also chattel mortgage to the indianapolis
curled hair works in the sum of $4,000,
which also contained no date of execution,
but had been acknowledged on July %. The
authorized capital stock of this establish
ment was $4,000. Another mortgage was
filed by Theodore z. Haughey and wife for
49, $50, which embraced all the real estate
Mapleton. This mortgage was to secure
four notes, one for $3.50, executed June II;
two notes for 5000, executed July q and
July "a. and another for $4,000, executed on
the latter date.
The real truth of the demoralized condi-
ton of their funds aroused feelings of in
dignation in the minds of the depositors of
the looted bank. There were loud clamor
ings for justice, and in the numerous mass
meetings held by the outraged depositors
vigorous demands were made on the United
States authorities for redress. The presi-
this fact did not subdue the mutterings
OF those who demanded that he with others
be punished. On Aug. q the district attor-
ney acting upon affidavitS signed by the
receiver OF the bank, placed in the hands
OF the United States marshal warrants for
Ter {: Haughey, Francis A. Coffin, Percival
Il. Coffin and Albert S. Reed. Marshal
Hawkins and United States Commissioner
van buren, drove quietly out to Mapleton
on the afternoon of Aug. q and arrested
the Haugheys. Deputy Marshal Taylor, in
the meantime, had found Percival Coffin
and Albert 5. Reed at the office of the In
dianapolis Cabinet Company. and had
placed them under arrest. Francis Coffin
was found at his home on North Ala
bama street. The scene that ensued be-
tween him and his young wife at the en-
trance of the United States official was the
most touching and pitiful that has yet
characterized the bank prosecutions The
prisoners were all taken to the Office of
the marshal, where they produced bond in
the sum of $4,000 each, except Albert s
Reed, who was admitted to bail on giving
5000 in sureties. The preliminary hearing
before Commissioner Van Buren, was set
down for Aug. IS. and that date the
prisoners were bound over to await the
action OF the federal grand jury.