Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1908-11-11
Green Mountain People Will Not
Lose a Penny as Result of
Bank Failure.
CRIMINAL CASES ALL SETTLED
Attorneys for President Mac Diarmd
and other Bank Officials Raise Over
$4,000 to Pay All Losses and Costs
Gases Against Bankers Are Dis
missed on recommendations.

A highly important settlement of the
numerous criminal cases growing out
of the failure of the Green Mountain
Savings bank last February, was
reached today in the district court,
when stipulations We're filed Diminishing
all Of the cases, and showing that ev-
cry depositor. and all claims against
the bank, had been paid in full
Close to 100 depositors of the bank,
f, living in and near Green Mountain,
will receive dollar for dollar by the
, settlement, and have been paid between
$4,000 and $4,000
In addition to the depositors all 9TH
err creditors Of the bank have been
paid, together with all receivers fees,
attorneys fees. court costs In all cases
filed, the expense of arrestng and re-
turning Edward T.. Collins from Phil
adelphia, expenses of the county at
torney, and taxes to the amount Of
$50, where application had been made
to have set aside the tax on the stock
Of the bank
The attorneys for President Stuart B.
Mac Diarmid and the other bank Of
f1cials have raised, among friends OF
the officials, after months of hard
work. the sum Of s12,75O, with which
to defray all claims against the bank.
The settlement of the criminal cases,
Of f,1rfhar mr. H..
ton, also puts a stop to the bringing
of many other actions for preference
of claims on the part of creditors Of
the bank
State Officials Recommend.
In bringing about a settlement OF
the cases, and their consequent dismiss
sal, the action was not taken without
due conference with both State Auditor
Carroll and Attorney General Byers, on
the part Of the county attorney and
the attorneys for the defendant. No
objection was raised by the state aud
itor, and 1t was in fact believed that
it would be better to pay all depositors
and creditors Of the bank than to pros
ecute the officials for what may have
proved to be a lack of the banking laws
rather than a wilful attempt to de-
fraud.
Attorney General Byers and Assist
ant Attorney General Cosson both rec
on1mended to County Attorney Eyer
mayer the dismissal OF the cases
against Collins and Miss Edwards. on
the ground Of lack of sufficient evil
dence, and of the dismissal of the 9TH
er cases on the ground Of furtherance
Of justice.
In addition to the recommendations
of the state officials the grand jury
that indicted the bank officials recon-
mended to the county attorney, in the
shape of petition, that he dismiss the
cases providing the money was all re-
turned and the creditors and depositors
lost nothing. Similar petitions were
filed by the creditors, and by other
influential citizens in the Green Noun
tain neighborhood. These petitions are
all made matter Of record.
Cases That Are Dismissed.
The cases that are dismissed, and
the cause for dismissal, are as fol-
lows:
Edward L. Collins director Of the
bank, who is out on bond, and Miss
Helen ]. Edwards, auditor Of the bank.
both charged with embezzlement of the
funds of a savings bank, dismissed for
want Of sufficient evidence to convict.
and on recommendation of the grand
jury and petition of the creditors.
DR.. Stuart B. MacDiarmid, president
of the bank, and Donald A. Johnson,
cashier, charges of embezzlement dis
missed on ground of lack of sufficient
evidence, and recommendation of the
creditors and grand jury; charge of
perjury against MacDiarmid and john
son dismissed for lack of sufficient
evidence to convict, and for the failure
of the positive showing of the admin
istration of an oath; also upon the rec
concentrations as above stated.
The charges of Intentional fraud in
conducting savings bank against
Mac Diarmid is dismissed in the fur
therance of justice, and the recommen-