The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-12-05
VI BANK CASE.
some of the Ways In Which Hatcher
Used the Banks Funds.

.",s ~"
Great Falls. Dec. Judge Jere Les
lie handed down a long opinion. aver
aging IL pages of typewriter matter,
in the case of lanes T. Stamford. re-
ceiver of the Northwestern National
bank. versus Joseph A.. Coram and
Benton d. Hatcher. The decision is.
in fact, a judgment against the defend
ants for s29. 44S.19. and in 1t are some
hints of h manner in which Hatcher
manoeuvered with the banks funds
without the general knowledge of it's
other officers. The suit arose from the
suspension of the Globe National bank
OF Kalispell. which was organized in
1892 and went out of business on June
"a. 1894. 1t seems that three days after
the closing of the Globe some arrange
ment was made between Coram and
Hatcher for the liquidation Of the
banks affairs. and in pursuance of that
agreement the two secured the assets
of the Globe. among which were notes.
These they turned into the Northwest
ern National bank of this city as cash,
guaranteeing their ultimate payment.
but obtaining an understanding that
the notes should be renewed from time
TO time upon such terms as the North
western should deem satisfactory. The
first note Is one given to the Globe by
the Libbey Town e. Lumber company
for SO. COG. 02. IL was renewed from time
10 tlT1e, dCtOTuluB 10 dRTttfltHl, lnt
last time being on Dec. 2. when II
amounted to s1l. 73s. 76.
The defense claimed that the pro-
ceeds of a certain note. payable to the
townsite company, were applied as part
payment OF this note, but the court
holds that this money. something e
81, 1000, was never received by the
Northwestern National bank. but hat
Hatcher took 1t as agent for the de-
funct Globe.
A second note was given by Ouelette
and Teriault to the Globe in the sum of
SO, 742.s2. and was likewise frequently
renewed until Ian. 20. 1897. when II
amounted to s3.25s.54. The original
note had been partly secured to the
Globe National bank by a chattel
mortgage. out of which the Northwest
ern finally realized $500. The court
finds that the Northwestern. in thus
disposing of the property, used due dill
gence and are and that the evidence
does not show that the property was
worth more than the sum realized.
The third note m for $5.S23.24 was
given by John weightman. 1t was re-
uewed for the last time on March s
1895, in the sum of ss. 2 "a. In settle
ment Of this note Weightman, in Janu-
airy, 1896. executed a deed OF some real
estate in Kalispell to B. ID. Hatcher
agent. and the note was turned over tc
iiid III III u pidtt III tnt
Northwestern bank Hatcher substi-
tuted a note signed by himself al
agent. The court finds that Hatcher
had been duly authorized bv the stock.
holders Of the Globe bank to wind vi
it's business; that II was his custom
while acting In such capacity. TO sigr
his name as "B. d. Hatcher. Agent
that in substituting the above tote In
| the Northwestern. he was acting a,
the agent Of the Globe stockholders
including the defendant Coram: tina
none OF his acts in such capacity were
known to the officers Of the Northwest
ern nor approved by them: that Coran
was aware OF this note substitution In
February. but did not notify the North
western that he disapproved OF tn
transaction or of the part which
Hatcher played In II.
These are the courts findings OF fac
and in the conclusions of law II give
judgment for the plaintiff on each o
the three counts.