The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-09-27

you and the cabinet company to the Indian
a2olis National Bank was matter OF
absolute indifference 10 you, was II not!
Witness-No. sir. IL was far from that;
it was one OF the greatest cares had.
Mr.. Burke-Did you care enough about
ii TO know how much IL was?
Wit-ess-I did at all times, nearly
Mr.. Burke-Then / will ask you, sir,
when you declared your first dividend after
the organization OF the cabinet company
and the borrowing of $4,000 from the IN
dianapolis National Bank. how much you
then owed the bank?
Witness-I couldn't tell now.
Mr.. Burke-1 Will ask you II III Two years
after the organization OF your company you
didn't owe the bank $4,000?
Witness-I think so. sir
Mr.. Burke-And il kept on increasing, Mr.:
Coffin. until about the LIST OF July, 1897, IL
was $4,000, was X not?
Witness-It was, sir.
Mr.. Burke-Did that give you much con-
Germ.
Witness-It did.
Mr.. Burke-What part of ii was it that
gave you the most concern, your inability
to pay the debt or the manner in which you
had increased 1t?
Witness-No: the fact that we owed that
much money always gave me concern.
The district attorney produced small
memorandum book, which the witness lden-
tified. 1t said il was reconcilement of the
cabinet company's ledger and pass-book
used in keeping the account with the bank.
Francis CONN, Percival Coffin and A. S.
Reed. The witness did not remember ever
having seen it before the trial.
Il suppose not" sneered the district at
torney. 1T would not be in keeping with
the dignity of the president of the cabinet
company to look at a small book of that
kind" Witness admitted that he signed
bank. lFa
Mr. Burke-Here's draft for 5000 which
you have admitted you have signed. What
did you presume was TO be done with 1t
when Won mt II in fbe hank
Witness think some money was drawn
upon it, bs1
Mr.. Burke-Was there ever any attempt
made to pay any of these drafts off?
Witness-Yes; they were paid off by the
shipment of goods and the sale of them.
Mr. Burke-Here's another draft, for e.
600? or course, It's of no consequence, and
you don't know anything about 1t. do you?
Witness-Except as to my signature.
Mr.: Burke-Can you call the attention OF
the jury to any single transaction where
you ever paid off debt to the bank?
Witness--I knew nothing about the gen.
eral transactions with the bank and don't
know that single dollar was taken out on
that paper.
RBED DIDN'T TAKE A DOLLAR
Mr. Burke-Mr. Reed didn't steal any of
the money. did he? %
Witness-No; DON'T think Mr.. Reed ever
took dollar. sw
The witness was asked why the cabinet
tional Bank after Mr.. Mafott had extended
a line of credit of $4,000. He admitted that
after the first mortgage was filed with Mr.
Haughey the Indiana National demanded
that their debt be paid at once. The cab:-
net company owed 900 which they could
not pay and their relations necessarily must
be severed with the Indiana National. The
witness further admitted that when the
Richmond bank failed the cabinet company
owed it $4,000 in Endorsements and dis
the witness for s.. COO the note of John
Roberts for 800 and the notes of William
f. Coffin for $1,000 This debt with the
bank was settled by the cabinet company
giving the receiver bonds of the company
for $4,000. Witness admitted that he rep
large and f,ourishinr business rs in oM indian
apols, but denied having settled with the
receiver on the grounds that he was in
salary was as secretary of the cabinet COM
pany. As president he drew 5000 year
and got $3.50 a year while he assumed the
duties of vice president and president
Percy Coffin drew 5000 year His salary,
with the others. was drawn out of the In
dianapolis National Bank by check. He
was asked If, while he was connected with
the cabinet company, he did not draw
$4,000 in salary and dividends. but could
The government produced the records of
the meetings of the stockholders of the cab
nes nd s dna e sur
February and April, 1893: Witness identi-
fed the books. but Didn't Know whether
lean system of bookkeeping. Witness said
that i'm January Theodore Haughey COM
planned that the cabinet company was TAX
ing property out from under his mortgage.
More drafts were at once drawn to secure
the debt Witness didn't remember that
money was taken out on these drafts. At
torney Burke produced the appraisement
lists of the cabinet company's assets fixed
about the time the company failed. The
witness admitted that he fixed most of the
values.
Mr.. Burke with his habtual sneer)-
Here's an item of twelve postal cards that
were valued at ID cents. You didn't fix
witness don't reeollect that.
Mr.. Burke-1Oh, no. being the president
Won wouldn't have YOUR attention called to
so small an item like that. Well. let me
see, there's beer keg and a jug appraised
here somewhere running his finger down
the rage) Here's a new broom and thirty
pounds of old rags and a feather buster
and spittoon A feather buster valued at
5 cents. That didn't seem to escape You,
S beer II keg an And nih hei9 s5 photographs in
the hands of custorffers valued at SIS. Were
these photographs of yossrSs sell. Mr.. Cohn?
appraised the good VIII OF the company, too:
now tell the jury what the good will was
VIZ - COFFIN AT RICHMOND.
Witness said that his father-in-law put
the good will at $4,000 He thought under
favorable circumstances July 1, 1893. the
good will would have easily brought 100000
ON redirect examination by Mr.. Winter,
the witness explained in detail his transac-
ton with the Richmond bank. Before he
came to Indianapolis he had been engaged
in farming near Richmond 1t was the GUS
tom of the Richmond bank when they were
compelled to take real estate for debt to
turn 1t over to the witness as trustee. TAX
ing his paper for the amount represented by
the land. When the bank failed, it had
$685. 600 tied up in this way. The seceiver of
the bank asked him for title to the land
referring him to General Harrison and John
r. Elan, who represented the Seceiver The
title was transferred and the notes of the
witness Cancelled. The debt of $4,000 due
the bank from the cabinet company repre-
sented notes given TO take up the paper
Of sewing machine companies which had
been Endorsed by the cabinet company.
These notes were to be afterward taken up
and the bonds of the cabinet company given
the bank. Later the matter was taken out
of che hands of the receiver by the witness
borrowing money from Theodore Haughey
| and purchasing the bonds which were turned
| over to the Indianapolis National Bank
| Witness gave Mr.. Haughey his personal
| note.
| case will begin some time to-day. This
morning the defense will recall the New
| York and Boston bank clerks and the gov
eminent will have some evidence in rebuff
| tai The defendants attorneys had not de-
! cided last night whether or not Percival b.