The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1893-11-30
The Grand Jury Returns Indictment;
BY the Wholesale.
RECREANT. TO THEIR TRUST
viii Hanks Indicted on Four In
dictments, President Bachelor
of Miles City on Two and Di-
rector Maconachie on One.
special Dispatch to the Standard.

tional bank of Great Falls. Ono indict-
ment contains II counts and charges him
with converting 10 his own use Sic. .76s.2o
by means of notes aud checks of w. VI.
Burgess d. Go. at various times during
1882. The second indictment contains 10
counts and charges him with obtaining by
overdrafts S9.s6i.6l for tho use OF tho firm
OF Hanks 4 Fullerton between 1880 and
1888, knowing that the firm had no funds
to its credit. The third indictment con-
tains 22 counts and charges him with
taking and converting to his own uso
s25,2221 on his own checks aud on notes
signed by William ID. Benson, knowing
that he himself had no funds there aud
that Benson was insolvent. Tho fourth
Indictment is in effect the same as tho
one returned last week, charging Hanks
with taking 80 shares of Cascade bank
stock which had been pledged as security
for his loans, and converting il TO his
own use. The indictment which was re-
turned last week will he nollc pressed on
Friday. at which time Hanks will give
new bonds for 5000. lie will plead to the
indictments Monday.
Two indictments were returned against
II. +. Bachelor, president of tho Stock
growers National bank OF Miles City, for
misapplying funds. The indictments
contain 50 counts. {. l.. Merrill, assistant
cashier, and {. II. Middleton, director, arc
also indicted with Bachelor.
Alan Maconachie, director Of the Lir-
ingston National bank, is also indicted on
2i counts for assisting George L. Carey,
the runaway cashier, In making false en-
tries in his report TO the comptroller of
the treasury.
An indictment for murder in the first
degree in killing Henry Sieber,, ono Of tho
pursuing posse, was returned against
Charles Jones. one of the Northern Pa
ciic train robbers. Jimmy Moots was in
dicted as accessory. Elmer Z. Benner
and Frank J. Herrick were indicted for
highway robbery on Crow reservation;
Henry Edmundson, John Edmundson,
Stewart Russell and John Hewitt for horse
stealing on the reservation; Joseph
Purvis for selling whislcy to Indians, and
Milt Wall for robbing the mail in the Liv-
ingston postofiice.
The grand jury was discharged finally
after making its report. In the report
they say: "Your grand jurors believe
they would be direlect i'm the discharge of
their duty to the court il they failed to
visit severe censure upon the directors OF
the Livingston National bank, the Mer-
chants National hank of Great Falls and
the Stockgrowers' National bank of Miles
City. Each OF these banking institutions
has been compelled 10 close its doors. sus-
pend payments to depositors and cease
doing business. Receivers have boon APP
pointed in each case by the comptroller of
tho currency, owing to the unsatisfactory
condition of the banks resources. Tho
a. ,l..s .,.
good faith have done business with these
institutions. and have left them money
for safe keeping in full confidence that it
would be honestly returned TO them with
legal interest, have been grossly deceived
and wrongcd. their confidence abused,
their earnings frittered away in worthless
speculation by those In charge. and, in
somo instances. have been deliberately
swindled by the bank officials out of sums
large enough TO be considered comfortable
fortunes. The grand jurors are of the
opinion that the fact of being an officer or
director of national bank ought not to
give any man license to swindlo and de-
fraud his fellow men. The unfortunate
condition OF the banks named above. and
tho consequent hardship and loss to inno-
cent depositors, as we'll as tho prostration
of the business community, are, in the
opinion of your grand jurors, largely due
to gross and incxcusable neglect of duty
on tho part of bank directors; neglect
of duty and apparent Indifference to their
oatbs as directors SO fragrant, resulting in
effects so grave and injurious alike TO i'm
dividuals and to tho public that 1t should
be distinctly declared 10 be q crime by tho
laws of tho United States. The national
bank directors owe q duty to the United
States, to the bank depositors aud to the
business public. That duty Is to faith
fully and honestly oversee and manage
the business of tho bank of which they
are officers. Each director is required by
the laws OF the United States Immediately
after his election or appointment TO Office
TO make out and subscribe an oath. II Is
our opinion from the evidence which has
been presented TO US that the oath is re-
earded i'm tho breaking rather than in the
observance. II seems to- be made only to
be grossly violated by the directors
of national banks. Dcposiiors and the
business community have the right to re-
nose the utmost confidence in the stabii-
ity and integrity of tho national banks, in
the faithfuiness and honesty OF the Of
fcers of tho same. Those entrusted with
the funds and property Of others ought to
bc diliigcnt and honest in the discharge
of their duties. They should be held TO n
strict accountability for the failure to act
in absolute good faith in the execution of
their duties. Tho directors of the banks
above named have failed TO discharge tho
duties imposed on them by the laws and
by their official oaths as well rs by tho
considerations of fair and honorable deal
ings among men.