The news & observer., 1905-11-22
Haigh and Myroyer of
Bank of Fayetteville.
RESTITUTION OF PART
When Case Was Called the Bank
Joined With Solicitor in Asking
for Suspension ::of Judgment.
Bonding Company Pays Bank
$17,500.
Especial to News and Observer

(Spec1al to News ana observer
Fayetteville, N. c., Nov. 21-Mes-
sers. John c. Haigh and George My
rover formerly cashier and teller OF
the Bank of Fayetteville. plead guilty
to the charge of embezzlement in the
Superior court today and Judgment
restitution having been made to the
bank.
Hon. Fred Moore. Judge presiding
had the forlowing order entered i'll
the several cases:
North Carofina, Cumberland County,
In the Superior court. Nov. Term.
1905.
State vs. John c. Haigh and George
Myrover.
The defendants. j. C.. Haigh anu
George G.. MyrOVer came into court
accompanied by their counsel ana
plead guilty to the bill of indictment
pending against them and it appear
ing to the court that restitution has
been made, upon the recommendation
of the Bank of Fayetteville, the prl-
vate prosecutor, and by the consent of
the solicitor, it is ordered that judG-
ment be the same is hereby sus-
pended upon the payment of the costs
of this. action to be taxed by tho clern
of this court.
Immediately after court met this
afternoon the argument of counsei
in a petty larceny case was stopped
and the case OF Messrs. j. G. Haigh
and G.. G.. Myrover, charged with en-
beZZlement was called.
n. A. Sinclair. Esq. of counsel for
Mr.. Haigh, addressed the court and
entered the plea of guilty.
He said q settlement had been ar
rived at whereby the bank and the
Bonding Company were satisfied and
that the ends of justice would be met
if judgment was suspended on pay,
ment of costs.
Judge Sutton made like statement
in behalf of MyrOver.
Hon. John G.. Shaw, of counsel fu"
the Bank of Fayetteville, said thor
ough investigation had been made
and conference Of those interested
had been had and that he thought the
ends of justice would be met if this
was done. Solicitor Lyon gave his
approval
The amount restituted was $17.50o.
the total amount of the trust company
bonds Mr.. Haigh was represented
by n. A. Sinclair. Rose and Rose ana
H. l.. Cook Mr.. Myrover. by Judgs
sutton; The Bank of Fayetteville. by
Robinson and Shaw and S. H. Nc
Rae and the Trust Company by Ed
mond Watkins, of Chattanooga Ten
ncsSee.
A great sensation was created last
FEBRUARY by the closing of the doors
and the appointment of Il receiver
for the Bank of Fayetteville upon the
discovery that peculations had been
going on for some time by the cash
er and the teller both of whom had
long been trusted officers of the insti-
tuition.
on application of the bank Mr.. Il.
TGray. of Raleigh. was receiver and
the doors Of the bank pending investi-
cation were kept closed until its reor-
ganization month or SO later.
A thorough examination of the
books showed shortages in the ac-
counts of the two men involved, which
amounted in the aggregate to about
$31 900. which was fully covered by
the banks surplus. The re-organ1za-
tion was effected with a reduced capi-
tai, so as to provide a surplus fund
which had been seriously impaired by
the embeZzlements.
The settlement by which the bank
obtains from the Trust Company ST.
500. will strengthen the institution.
although the expense of closing the
doors, of the receivership. counsel
and expert accountants fees was of
course heavy.
The teller of the Bank, Mr. Myrover
made soon after the closing of the
doors a full and complete statement
of his connection with the shortages,
which he stated had been going on
for several years chiefly by manip-
ulation of accounts with correspond
ing banks. Cashier Haigh for d while
contendcd that he was not criminally
responsible and it was thought that
he would resist conviction.