The age-herald., 1901-11-24
Judge Jones Orders Jury to Keep Silent But 'Grape-
 Vine'' Works OATES MAY LOSE $38,OOO New Feature of Case Is Savings Ac. count Run In Connection With
 the Bank-These De-
 positors May Lose. =

montgomery, NoYember 93 Especial. )- The officials of the Eufaua National Bank will in al, proba bility have to face a jury of their fellow countrymen an- swering a charge in an indictment found by the federal grand jury, now sitting in this city.
 Though great care las been taken about the grand jury room to keep secret the work of that body, it has heen generally rumored that almost the entire of the present week has been consumed in the hearing of the Eufauia bank case Many prominent citizens of Eufaula have been before the grand jury. including city and county officials The bank receiver and the national bank examiner appeared early in the week, and when the newspa- pers began to print stories concerning the taking up of the case by the grand jury, Judge Jones called the entire grand jury befoie him, and read them severe lecture about the privacy of the grand jury room. This lecture had it's effect, but 1t failed to put the "grapey inc out of business. A week ago it was thought that the grand jury would adjourn last Tues day. but they rust have had bigger job then they anticipated for with the exper- stlon of this week the jury is still in session. The rumor new cones that final adjournment will be had iext Monday. end that the Eufaula bank officials have been indicted as result cf a thorough inv estigation of the case. It is not known what charge is made in the indictment. though embe <zlement is hirted.
 General Oats Bonds.
 It will be recalled that General W. c. Oates had fifty thousand dollass of bonds in the bank, forty thousand of which he claims were placed there as | trust de- posit and tho remaining ten thousand were loaned to the bank. When the failure was announced the Oates bonds were gone. Investigation developed the fact that some of the bonds had been hypothecated in the Western National bank of New York.
 The bonds had been recently used, ten thousand in April and ten thousand in June. It is understood that Cashier D. B. Young claims that General Oates had gwen nlUl IUt pIlNlcBt Ol uShi6 tiiS bonds, but this is positively denied by Oates The Oates bonds were class Alabama and were placed in the Eufaula bank some eighteen years ago. General Oates stated that he put them in the Eufaula bank as a safety deposit think ing that in case misfortune should over take him he would have he fifty thou- nd dollars to fall back upon.
 The coupons of these bonds were regu- larly clipped and the interest placed to the credit of General Oates, he in turn checking against 1t for incidental ex- penses. In 1892 during the general de- pression over the country the Eufaula bank was in trouble and General Oates made the bank loan of ten thousand dollars of the bonds then deposit. These bonds have never been replaced but the interest on them has been regu- larly paid and placed to the credit of General Oates
 The Personnel of the Bank.
 The officers of the Eufaula bank are among the most respected men in all the South, and their indictment by the federal grand jury will create vide spread sensation. s. H. Dent was the banks president and E. B. Young cash Ter. The men are brothers-in-law and their family connections are the highest in the State. Both Messrs. Dent and Young have reared large families and both had sons employed in the bank.
 The families have not been considered very wealthy, though they have had suf- ficient to live in comfort. President Dent is said to reckon his individual wealth at about S4OOOO, all of which he has an- nounced will go toward paying off the banks depositors. It is said that Cashier Young has but little property in his own right.
 While no statement of the banks condi- ton has been issued, 1t is believed that depositors will receive not more than 50 cents on the dollar. It does not seem probable that General Oates will get any portion of the $3S.0OO in bonds used by the bank.
 Twenty thousand dollars of these bonds are held by the Western National Bank of New York and as that concern did not know General Oates in the transac- ton it is not liable to him. The Eufaula Bank also owed the Western National Bank $7s,000, it is stated A representa- tive of that bank has been in Montgom- cry and Eufaula during the week but he refused to be interviewed on all occa- sions.
 Had Savings Department.
 "A feature of the Eufaula National Bank failure not generally known was its savings department" said a promi- nent Eufaulian today.
 This department was conducted under the firm name of E.. B. Young & Co. It was not chartered. Interest was paid upon deposits, the depositors agreeing to give fifty days notice of withdrawal When the bank failed the books of Young & Co., showed s36.000 on deposit which had been deposited by said Young & Co., in the Eufaula National Bank. The ac- count of Young & Co. is now said to be overdrawn with the Eufaula National Bank. and the depositors with E. B. Young & Go. can hope for no returns whatever"
 The speaker said he was loser by the failure. It cannot be learned tonight what attempt. if any. has been made to arrest the parties indicted, but no trouble is feared in this connection. It will be recalled that when the bank failed both President Dent and Cashier Young volun- tarily came to Montgomery with the United States district attorney and of- fered to make any bond reauirad sG them