The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-03-19
WANTS HIS MONEY
IMPORTANT SUIT Tc WHICH Ma
TIONAL BANK Is PARTY.
Henry Newbeein Brings Shit Against the
Money Paid for StOek--SOma Interest
ing Letters are Read in the Federal
Changes His Tune and Writes Like .
Calamity HOwIer--Ciaims the Bank In
creased its stock When Insolvent.

Henry Newbegin of Defiance, Ohio.
has a case against the Newton Ma
tional bank now on trial in the United
States court that is attracting a good
deal of attention.
Henry Newbegin is fine looking
man, in appearance 81 years old. and
he is in court with his attorney Judge
Peters of Newton. Mr.. Newbegin is
himself a lawyer and practices in all
the courts of Ohio and he is helping 10
manage this case. c. S. Bowman of
Newton is representing the Newton
National bank and he and Judge Peters
agreed upon the voluminous correspon-
dence that should be presented 10 the
jury.
1t appears from Judge Peters state
ment to the jury and a large number
OF letters and dispatches offered in
evidence that in 1890 the Newton Ma
tionaI bank concluded 70 increase its
stock from 800. 900 TO 5000, 600.
Henry Newbegin came in possession
of a letter issued by G. r. Mclean, cash
Ter of the National bank of Newton
which represented the stock to be a
very desirable investment.
He finally concluded to take some of
the stock and induced his friends 10
do the same thing. He subscribed for
sixty-six shares and sent the money
to pay for his stock. This was III the
summer of 1890.
The correspondence between Newbe-
gin and Cashier Mclean is quite inter
esting reading. McLean's letters were
colored a rosy hue until after the stock
of the bank was increased and almost
Immediately after Newbegin had paid
in his money there was a great change
that appeared to have echpSed the
financial sunshine of Kansas.
The times were hard and Mclean re-
ported a number of bank failures to the
new stock holders. The corn crop fail
ed and the farmers alliance threatened
to carry everything in the state. In
short McLean's letters were regular
calamity epistleS-
This made the Defiance man suSpic-
ious and he wrote to the cashier of the
Newton National bank that he had de-
ceived him and that he knew his rights
and would commence suit II the money
was not paid back to him.
Then the bank tried to resume and
there was some very interesting cor
respondence in regard 10 that all or
which was read TO the jury by Judge
Peters. Mr.. Bowman sits by to see
that Judge Peters does not make any
mistakes in the reading.
Some sharp letters from some or the
Newton Stockholders to Mr.. Newbegin
were read The sum and substance of
these letters were that the Newton
stockholders wanted MIR. Newbegin 10
go ahead with his suit and if he could
win and come in as a depositor OF the
bank instead of as stakeholder then
all the other depositors might do the
same thing. Some of these letters were
evidently intended as burlesques
There will, however, be a good deal
of interest until il is found out whether
the Newton National bank was insol-
vent when it increased its stock as Mr..
Newbegin charges: The bankers in this
city are taking a good deal of interest
i'm the case as it progresses.
Republicans. register without faiito-
dav. This is important.