The Savannah morning news., 1903-05-14

and l had nothing whatever to do with
the transaction.
Another indictment charged me with
wrecking and rendering the bank In
solvent, and this indictment was predi
Gated upon two charges: First that
/ had sold 151 shares of stock Of the
bank owned by foreign stockholders 10
Cashier Powell and Assistant Cashier
Holmes, and that l had knowingly
suffered them to pay for it out Of the
funds of the bank. This was wholly
untrue. The offer made by the Barnes
willie syndicate to me, as agent of the
foreign stockholders, at $125 per share
was accepted, which amounted to 151
shares. This stock was paid for by
Messrs. Powell and Holmes, but not
cent of the money came out Of the
bank but was derived entirely from
an independent private source, az
Messrs. Powell and Holmes will testl-
fy and prove, except $1,000, which they
borrowed upon the written authority
of the directors of the bank, as the
minute book shows. The second spec
if1cation of this charge was that
loaned more than 10 per cent. of the
capital stock of the GAINESVILLE Saw
ings Bank to the GAINESVILLE Manufac-
turing Company and the Hanson Craw-
ley Company. The bank did lend more
than $4,000 to these two institutions
but it was without my knowledge or
consent, and in the face of repeated
written and verbal protests. However,
four of the seven directors of the
GAINESVILLE Savings Bank were also d.
rectors of these two mills owning
very, very heavier interest therein,
while they owned only about twelve
. shares in the bank. and the repeated
renewals and continual increase OF
| these two mill debts was made by 9TH
ers than myself. The failure of these
two mills to pay this debt finally broke
the bank, but had, prior to it's failure,
! resigned my office as president.
owned not one cent of interest in eth
er one of these mills and was in no
way responsible for the large and IN
1udicious loans made to them by the
bank. In proof of this the receiver
OF the GAINESVILLE Savings Bank has
on ME over twenty letters from me
protesting against these loans.
Inc above is a simple and accurate
statement of the facts as they really
existed Upon the recommendation Of
the Hon A. A. Murphy and Mr.. r.
r.. tumble assignee and receiver of
the bank, the solicitor general asked
the court to direct verdicts of mot
guilty. This the court did. remark
ing TO the jury when the Verdicts were
received, as follows THE verdicts in
thcae cases meet with my entire ap-
prevail. and / am glad the cases have
been finally disposed of to the satisfac-
ton of all parties concerned"
paid neither directly, nor Indirect
~, any sum to settle these criminal
prosecutions. ! did own at the time of
the failure of the bank eleven shares
of its stock, for which l was liable In
law to pay $500 for the benefit of the
creditors and depositors of the bank.
and / did settle all civil liabilities
against me by paying $500 and no
more. | have stood ready at all times
to pay this or any other sum I might
be under duty to pay.
This is a frank statement which |
make TO unprejudiced business men. If
any reader of this article questions the
absolute truthfulness of any statement
herein, l can furnish him with afti-
davits which will thoroughly satisfy
his mind.
| can, and do, refer with pride to all
of the bank presidents and cashiers of
Georgia, with whom 1 have transacted
a very large business during the past
! fifteen years.
was born at Lagrange Ga, and l
began life with many difficulties in my
path, and have tried hard to act up
rightly, and this is the first time that /
have been charged with wrong-doing
My complete vindication in these cases
will be received with pleasure by all
! unprejudiced minds.
w s. Witham