The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-10-16

tended history OF the organization OF the
Theodore Haughey purchased an interest in
the glue factory in the northwest part OF
the city and placed his son. Louis c.
Haughey, In charge. He put $1,000 in the
concern. A year or two later he purchased
the remaining interest and shortly after
ward established a curled-hair factory to
be operated In connection with the glue in
dustry. In the spring OF 1885 both OF these
enterprises were incorporated with a capital
stock OF $4,000 each. The bulk Of the stock
was issued in the name of l. c. Haughey,
but he paid nothing for 1t. Four hundred
shares were issued to travelling agents,
statesmen. and to the secretary and treas
owned the real estate on which the plants
were situated. and was the sole owner of
the property. Misfortunes followed the BUSH
ness from the start, and in the summer OF
1855 Louis Haughey gave up his position as
manager of the two concerns and sought
employment whe At this time the
debt OF the two companies to the bank
Schuyler Haughey was an inexperienced
youth OF twenty-three years, and his father
had left. The glue company was then in
debt TO creditors, and the money was paid
out of the indianapolis National Bank, but
Schuyler Haughey had nothing TO do with
creating the debt. He was but twenty-three
years old when his father incorporated these
companies and he knew nothing about busi-
ness.
Attorney Duncan insisted that the defend
ant knew but little about the affairs Of the
glue company when he was made vice
president OF the concern In 1890 he was
chosen president of the curled hair COM
pany and about this time he became aware
of the debt to the bank. Under the direc-
ton Of his father he got accommodation
paper to be used in connection with the
Indebtedness of the two companies. The
defendant had implicit faith In his father
procured recommendation paper in accept
ances of notes signed by the employees OF
the curled hair company and others. AT the
request of his father he had a number of
blank notes signed up and left them at the
bank. AS notes became due Theodore
Haughey would require his son to fill out
other notes. Mr.. Duncan said that nearly
all of the notes signed by. Spruance were
filled out by Il. p. Haughey. Three de-
mand notes, dated May /, July and March
q, 1893, a~ggregating $4,000, were also in the
handwriting of Theodore Haughey, and the
defendant knew nothing about them until
the bank failed. All of the notes of John F.
White, except two, the attorney admitted,
were in the handwriting Of his client: The
others were in the handwriting of the
bank president and the defendant had no
knowledge of the use to which they were
which he said would be introduced In evil
dence, Mr.. Duncan continued:
were sent by L. c. Haughey to his father
in blank. Under his fathers direction the
defendant filled them out as they now ap-
pear at the bank. A. p. ~Spruance's notes
Mr.. Spruance. and are all filed out in his
handwriting, but one demand note for 5000
under n r. date @sso Of May s 1872 which was hlled
Nv. II. Wilson'S notes amount TO $1,0l9.
These notes were signed by Mr.. Wilson
and filled out by Mr.. Spruance. Well Broth
ers' a~cceptances, to. the amount of $685.
49, 10, were all filled out by the defendant.
F. Strassner's notes to the amount of S23,-
1928, were filled out in the handwriting of
the defendant, save one dated March 80,
1893, for 50, 900, filled out by Theodore p.
Haughey. Pittsburg, Hoeveller and William
A. Baeder Glue Company's acceptances
amount to 44,176.65 Schuyle Haughey had
nothing to do with any of these except
one for 5000. and knew nothing of them
until the failure of the bank; His connection
with the 5000 was of this character. At his
fathers request he signed and Endorsed a
draft in blank and left 1t with him. 1t is
filed out in the handwriting OF Theodore
what use his father made of that draft
until after the bank failed. All the rest of
these save one are signed and Endorsed by
Mr.. Spruance. filled out by Mr.. Haughey.
drawn by the Pittsburg Glue Company,
payable to L. C. Haughey, by him Endorsed.
loan of $1,000 made by the bank upon that
paper. The defendant knew nothing about II.
s.: G: Haughey's notes AMOUNT to S4ISo;ls
In 1887, for the first time, Mr.. Haughey re-
quested the defendant to execute a number
rected by his father, would M them out
from time to time at the bank, where he
had left them with his father.
"All the notes of this character now in
possession of the receiver were signed by
the defendant, and all but one filled out in
his handwriting. This one is for 5000, dated
Feb. 4, 1892, demand note, and is hlled out
in the handwriting Of Theodore 2. Haughey:
IL. c. Haughey's notes for $4,000, signed
by l.. c.. Haughey, are filled out In the
handwriting of Theodore p. Haughey.
Charles Geist's notes for $29, 93S. 12, are filled
out in the handwriting Of the defendant. T..
f. Cooper, S33,07S.S0, were all filled out in
defendants handwriting"
The attorney related how, after his mar
riage, Schuyler Haughey spoke TO his
father about the Indebtedness and asked
how it was TO be paid. Theodore Haughey
replied that the bank would never lose a
cent. The son believed the father to be a
that his parent told him the truth when he
explained that he had a right to use &C
commodation paper in connection with the
debts to the bank. The defendant had no
reason to believe that in all these years
the directors of the bank were negligent IN
the discharge of their duty and that his
father was concealing from these people
this Indebtedness. Concluding, the attorney
disclaimed any desire to thrust upon Iheo-
dore Haughey the burden of another.
sBut, gentlemen of the jury he con-
tinued, 1.-THE greatest sorrow which could
come to him, the heaviest buroen he could
be called upon to bear, would be the knowl-
edge of the fact that the. acts and conduct
of his son, his youngest child, done through
the confidence and trust he reposed In him,
his father, at his request, might consign
him to the penitentiary."