Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1894-04-02
THE FOLSOM CASES.
Specific Charges On Which S. NJ. Fol
som is Now Oh Trial at
Albuquerque.
False Entries and Statements-Gist of
the Indictments-Trial to Last
All Week

Stephen M. Folsom, president of the
defunct Albuquerque National bank, viii
soon follow Dane, the Deming and Silver
City bank wrecker, if one-half the allega
tions contained in the indictments against
him are true.
There are three indictments containing
twenty-eight specific counts or charges
He is charged with continually making
false entries in the records of the bank
and false statements with the intent to in
jure and defraud the public and to de-
ceive the officers and agents of the United
States. He is also charged with embez.
element of large sums at various times
Below will be found synopsis of each
count in the three indictments:
The first count of the first indictment
charges Stephen M. Folsom with having
on the 25th day of September, 1891, made
statement, which was sworn to be true.
of the condition of the bank. The state
ment contained an item marked: "Indi-
vidual deposits sub iect to check, 81
937.O3." The Indictment charges W no
such sum was on deposit.
The second count charges that the
statement alleging that $l9,214.89 was
due the bank from other national banks,
was false.
The third count charges that the state
ment reporting bills of other banksAat
$14,171 was false.
The fourth count charges that the state
ment alleging there was no borrower of
more than $17,50O, which would be 10 per
cent of tho capital stock of the bank, as
much as the law allows one person, firm or
corporation to borrow, is false, as W. b.
Slaughter, j. A. johnson and the Aztec
Cattle company were each at the time
borrowers of more than $l7 800 from the
bank with Mr.. Folsom's knowledge.
The fifth count charges that Folsom on
the 9th day of July, 1891, maoe stale-
ment of the affairs of the bank, and in
which it was reported that there was on
deposit in the bank subject to check
S169,29364 This statement is declared
to have been false.
The sixth count charges that the state
ment reported overdrafts to the amount
of $13,67S.O1. There was much larger
sum due the bank, and the statement is
branded as false.
The seventh count charges that the
statement claimed $14,6S2.37 as due from
approved reserve agents. There was not
that much due.
The eighth count charges that the state
ment claimed $l4,795.39 due from other
national banks. The indictment says
there was not near that amount due.
The ninth count says the amount re-
ported as due from state and private
banks and bankers, $19, 9,105,0S, was false
The tenth count charges that the banks
statement showed that the demand GER
tificates Of deposit on hand, at $124,575,-
SO, when there was not this amount on
deposit.
The eleventh count charges that in the
general balance item of the statement the
sum of $4,000 appeared opposite the
name of the New Mexico Savings Bank &
Trust company, making it appear that
the Savings bank owed the Albuquerque
bank this sum. The Indictment declares
that no such amount was due.
The twelfth count charges that the
statement reported $1,000 as having been
transmitted to the Hanover National
bank, of New York city. The statement
was false as no money had been trans
mitted.
The thirteenth count charges that
$1,000 was purported to have been re-
ceived from the American National bank
of Kansas city, whereas nothing was re-
ceived
The fourteenth count charges that So,
600 was purported to have been transmit
ted to the National Bank of Commerce
of Kansas City. This is branded as false
The fifteenth count charges that $4,000
was purported to have been transmitted
to the American National bank, of Kansas
City, whereas no sum was transmitted.
The sixteenth count charges that $1O,.
900 was said to have been transmitted to
the National Bank of Commerce, of Kan.
sas City. 1t is charged that this entry
was also false one.
The seventeenth count charges that the
declaration by the bank officers that there
was on hand certificates of deposit to the
amount of $4,000, whereas no sucf
amount was on deposit. says the indict
ment.
The second indictment contains min,
specific counts or charges. The frs