Arizona republican., 1895-05-22
FIVE INDICTED, Browning Work of the
 Late Grand Jury. The Tempe Bank FaiI-
 ure Reviewed. Indictment of All the Officials and P. P. and w. A. Daggs. The Defendants Gave Bond Last Night and Will Be Arraigned
 in Court Today.

The final report of the grand jury was partially made public yesterday by the arrest of R. E. Daggs, P. B. McCabe, ". L. Van Horn, P. P. Daggs and W. A. Daggs, all indicted for embezzle. ment in connection with the failure ot the Bank of Tempe. All this was pretty we'll understood the night be- fore, 80 that the disclosure was official rather than surprising. The report itself has so far been seen only by the officers of the court, so that the specific charges set forth in the indictments have not been made known to the de. fendants themselves.
 It is even now difficult to say just how many indictments were returned [, though it is known just how often each defendant was indicted. The mem bers of the grand jury appear to have been testing their remembrance of the eub- ject of algebraic permutations and to have endeavored to ascertain in just how many positions it was possible to arrange each defendant with respect to his O. defendants. The result is that R. E. Daggs was indicted three times, once jointly with W. A. Daggs, P. P. Daggs, P. B. McCabe and W. l.. Van Horn; in another indictment he was arranged with W. A. and PIP. Daggs and in still another his co-defendant was P. P. Daggs.
 Seven indictments were presented sgalnst P. P. Daggss- three against ". A. Daggs, one against P. B. McCabe and five against W. L. Van Horn. The only person indicted singly was P. P Daggs.
 The first bench warrant was served upon R. E. Daggs. Mir. McCabe learn. ing of his indictment came down from Tempe and offered himself to the off cers. His bond was fixed at $2,500 His sureties were Messrs. J. A. Flemins and W. T. Smith. Later ill the day Mr. VanHorn came in and was arrested His bond was not fixed yesterday and he YVES released on his own recogpiz auce.
 The bond of R. E. Dapgs was placed at SC, 900 covering the three indictments against him. He came into court lat, in the afternoon with his attorney Judge Woodward, and presented bono signed by W. M. Billups and A. J Daggs. About the same time P. P Daggs appeared and his bonds covering the seven indictments resting upol him was fixed at $12,50O.
 Still later came W. A. Daggs, who's, bond in three indictments was $8,500.
 Last night all the defendants excep McCabe and VanHorn were at the dis trict clerks office and su omitted thei bonds which were examined and ap proved. The sureties for R. E. Dagg as before mentioned were W. M. Billup and A. J. Daggs for P. P. Daggs, w M. Billups and R. E. Daggs; for ". A Daggs, J. W. Frakes and A. J. Daggs. |.
 The defendants will be arreigned to day.
 The Bank of Tempe failed in July 0 last year and an assignment WAS mad to D. 4. Abrams at the time of tn failure, R. E. Daggs was president, " L. VanHorn was cashier and Daggs VanHorn and McCabe were the diree tors. The failure was ascribed to tn prevailing financial depression and wa not wholly unexpected. In fact it ha been rumored in Phoenix a half dozel
 times during the preceding two month
 that the bank had failed. A statemen of it's condition showed that it was in debted to other banks in the sum C , $7 ,OOO and to individual deDosltors $27 900. Its schedule of assets embracin cash, notes, bond, mortgages and shee i, aggregated $SO,000. The failure wa not considered hopeless one and ther was no expressed suspicion of irregu . larity. The Daggs brothers became CT , tangled in a variety of litigation whic in one way or another involved the a F fairs of the defunct bank.
 Two grand juries beside the one jus discharged have sat since the failure
 If any attempt was made to investigat
 it's circumstances it resulted in nothin and it is proba ble that the matter wa
 never presented for investigation. A
 the beginning of the present term
 court it was predicted that the lat
 grand jury would take the case up, an it was as confidently predicted that il dictments would be found against a : connected with the bank at the time
 it's closing.
 ! A friend of the Daggs brothers WE asked last night what had precipitate
 an investigation at this time, since tW
 grand juries had already passed over
 He replied, "So far as I know, thel l, have been no recent developments col
 corning the failure. A great deal