The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1907-11-21
PROSECUTE BANKERS +!
Two Former New York Bankers
TO be Prosecuted.

Chicago, Nov IA special 10 the
Record Hesald from New York SAYS
IL was learned definitely today that
arrangemnts are under way 10 secure
The indictment Of two former officers
OF national banks for alleged Viola.
tons OF the banking law.
The oi'enses charged are said TO
have had much TO do with precipi-
tating runs and forcing drastic meas.
nres 10y the clearing house committee
In the last week OF October. While
the authorities hesitated about TAX
Ing action until the excitement had
ceased, the fact that both banks
which are alleged To have suffered al
the hands OF the men in question are
now in control of new owners and are
In excellent condition, leads those IN
charge OF the case 20 believe that
proceedings should he begun forth
With, In this view of the case some
OF the best known bankers Of the
clearing house agree absolutely, con
tending that II would be folly TO dc.
lay the actions until the public had
forgotten all about the matter. One
OF the men concerned is forn or Of.
deer OF the Mercantile National
Bank OF North America. In each
case the charges are specific and
have To do with transactions IN
which the banks sustained more or
less loss. The fact that both OF the
banks have been since placed Ia ex
celient shape, SO that no trace OF the
losses alleged IN the complaints now
exists, IL Is said, does not excuse The
persons responsible for the abuses.
In one instance the loss was seri,
Gus, and the fact that IL was enconn,
tered nj a peculiarly trying period
Is considered as amcng the oifens,
All the more reprehensihle.
None OF those at work on the cas-,
: would say today what charges tn,
/, complaints would specify 1t wal
learned definitely, however, that on,
} OF the defendants viii be made /,
: answer for n peculiarly cuipable cas-,
OF "oyer.capitalilaion." This Is tn,
2 otlense for which William S. kimball
2 president of the old Seventh Nationa
bank was fined 5000 Ia May, laol
, IL is also the oliense for which Jane
Y ID. Fish, president OF the Marin
r bank, which failed In the Grant 1
: Ward panic ON May ., 1854, was sen
Q fenced 10 prison for ten years. l
Q one of the cases the complaint ma
4 charge mCre than one violation.
e Washington, Nov. -. ~- Oniela
I here are reticent concerning IL
2 rumors that certain national banl
T. In New York City have not been COZ
d Quoting business strictly according
u law. At the treasury departmcI
q toe comptroller OF the currency, wi
has immediate supervision. and q
secretary OF the treasury both decliI
to discuss the reports or 10 sta
| what action, II any, the goyernmel
is taking. Az the department OF ju
tice the officials say that attenti'
- has not been directed to any irrcg
larities for the purpose OF hayiI
legal proceedings instituted.
:" 81 never yet knew a big man W
q had-the nerve Ia go up against
squarely, who, when put TO IL
~ avoid a smash, didn't do somethi
u, crooked, said a high Official OF I
~ treasury department today. II
u statement may be interpreted rs
I" admission that under stress OF G
a. cumstances Irregularities have ere
"e In somewhere and that the law /
p' not b en- followed.