Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1893-09-09

SIstLu jury WHICH II 10 luNeSuSdle luc
failure of Milwaukee banks was sworn
in and entered upon the discharge Of
it's duty, but Immediately there was
rsmonstrance on the part of some Of
the persons called upon to testify before
it,
William Phnkinton does not want TO
testify, because he says the subpoena
is simply a lJse of the district attorney
to get evidence against him in the in
dictments now pending. j. b. Koetting,
through his attorney. refused to testify
because he says it would tend to crimi-
nate him. The legal points will be ar
gued at an cary day and Judge Wall
Der has ordered in the meantime
neither Piankinton nor KOetting
shall be arrested because of their fail
ure to appear before the grand jury.
The jury as finally secured was com
posed of the following men: Louis
Oenler, furnisher; Fred jess, saloon
keeper; Charles Koehne, veterinary
surgeon; Adam Kuntz, retired fireman:
Fred Gehrke, saloon-keeper; John Nc
Aullhe, retired; Henry Smith mill
right; John MaleshofSki, Saloon-keeper;
l. d. Cocker farmer; Joseph Zings-
helm, farmer; Louis Huesselmann,
429 Tweny-first street; Louis Dreves,
saloonkeeper; William DAILY, watch
man; Alex Emery, salesman.
After the jury had been sworn Judge
Wallber delivered the following charge:
Several weeks ago indictments were
presented to this court against the Off
GERS and directors of an alleged iusol-
vent bank charging them with fraudu-
lently receiving deposits and embe2zIing
the moneys inUusted to them, Since
then other banks in the city have fail
ed, bringing distress TO a large number
of our fellow men, Shattering the con
fidence in our financial institutions and
injuring the good name and reputation
of our city.
"Flagrant violations Of law, misap-
preparation of funds, dishonest and
disreputable speculations, the loaning
of money without adequate and sutti-
cient security and reckless business
methods criminal in themselves are
said to have caused these failures,
"Somc of These banks are reported to
y
charged that they were insolvent long
before they closed their doors, and
knowing or having good reason TO
know that such banks were unsafe and
nsolvent, its respective officers and
agents are said to have continued to re-
ceiye money on deposit in violation Of
law A rigid investigation Of all the
focts in the premises is essential to
the public welfare
'srhe men who manage our financial
institutions have the most sacred
duties to perform and they must be
he'd to the most rigid accountability
1t is not like using ones own means
for the purposes Of speculation, since
if disaster come in the latter case it
affects only the individual who invited
it by his reCklessness When men
speculate with the funds Of others en-
trusted to their keeping the loss when
1t comes, falls on innocent heads, and
upon people who have placed conf
dence in the integrity of those whose
actions have been the cause Of loss.
All bankers must be honest at all times
or suffer the penaty for injuring others
by dishonesty.
81 therefore deem 1T my duty to call
you together for the purpose of closely,
carefully and impartialy looking into
the affairs and management Of these
banks and the conduct Of their officers,
directors and agents and of inquiring
whether any man or men have been
guilty of criminal acts or negligence by
gF glN1t
was imperiled or by which any other
person has been wronged. You have
the right to send for such witnesses as
you may deem necessary to a full in
veStigation of the matters referred to,
The evidence, however, viii relate
solely to the case of the prosecution.
Witnesses for the defense cannot be
examined, as the inquiry Of a grand
Jury is not in the nature Of a trial, but
simply an investigation for the purpose
Of determining whether the evidence
on part Of the state is such as TO
proudce conviction that there is proba-
Die cause to believe that a particular
person is guilty Of a crime and ought
% be put upon his trial. In the dis
charge Of your duties you viii have the
aid Of the district attorney.
You are not, however, confined to in
vestigation OF those matters only of
which I have spoken 1t is your right
and privilege also to examine into such
other matters and to act upon ana
present such other offenses as may be
preferred before you by the prosecuting
attorney Of this county.
You are to make dilligent inquiry
and true presenlnent for the state Of
Wisconsin in and for the body Of the
county of Milwaukee Of all matters
given to you in charge by the court or
district attorney and you are SO
charged The counsel for the state Of
Wisconsin. your fellows and your own,
you win keep secret. you are not per