Rocky Ford enterprise., 1908-10-09
JOHN 3. GODDING
FOUND GUILTY
Released on $4,000 Bond
Pending Motion for a
New Trial
TO BE ARGUED
on OCTOBER II
rlaximum Penalty Is s.. 900 Fine and
Five Years imprisonment Upon
Each Of Foar Counts

rlaximum Penalty Is $4,000 Fine ant
Five Years imprisonment Upon
Each Of Fosr Counts
In continuation of the testimony
for the defense in the Godding trial
Earl Montgomery was called and tes
tified that he was acquainted with the
Weld county property, on which the
State Bank held trust deed for $4o,'
600. Montgomery estimated the value
of the land at SI25 per acre while the
surplus water he. said was easily
worth 10000 or 5000 cubic foot
Mr.. Lockwood was the next wit
ness who also lives in Weld county.
He estimated the value of the land at
$4,000 for the entire tract.
William T. Raymer was then call
ed and he estimated the land as
worth $Ia5 per acre.
Receiver G. NJ. Hall was the next
witness and testified concerning a
number of small sales OF the Fcnton
land. made since the. bank failed.
T. c. Henry OF Denver. irrigation
expert, placed a valuc of from SIS to
SIoo per acre on the Fcnton land with
water. He said the pumping scheme
was feasible and could be made sue
cessful. He then testified concerning
water rights on the Weld county
property and said the excess water
was worth from 5000 to 5000 per
foot.
John E. Godding then took the
stand. He testified that ne went
broke in the panic Of 1905 and had
been insolvent ever since. At this
time he said he began borrowing
money from the bank and in the ear
" part of 1905 he owed the bank. ae-
eording to the statement of Cashier
Smith. the sum Of $IoI.ooo. He ar
by giving the bank warranty deed
to the Weld county coal land for $I6.-
600. He then mortgaged the farm in
Weld county for $4,000 as security
for a note Of that amount. He also
sold the bank $4,000 worth of THE
Dells" bonds. He put these bonds in
at their face value and claimed that
at the time of the transfer they were
worth par, but Developments in the
next few years greatly deprecated
their value.
After this settlement in 1904 he
again became involved to the amount
Of $r2,soo This amount was repre-
scnted by an overdraft. Then in 1906
the bank sold THE DclIs" bonds for
$4,000 and he borrowed this amount
and says no record was made OF the
transaction Out of the sum he clear
ed up the orerdraft and had sIs2. 600
left to his credit in the bank on de-
post. With the $4,000 loan and the
mortgage he owed the bank 10000.
Mr.. Godding explained why there
was no record on the bank books OF
the $4,000 deed of trust TO the Weld
county tract in 1904. saying he de-
stroycd the deed and gave new one
on December 20. 1907. and that he
gave new note at the same time de
stroving the old one. This deed which
he claims TO have given on December
c6. 1907. was acknowledged before a
notary public on January }. 1908. or
after the bank had failed.
Godding was the last witness for
the defense and his examination was
concluded at o:3o Thursday night.
Proceedings in the trial consumed
only about an hour on Friday morn
ing. Judge Rizcr ruled out all evil
dcncc of the work of Fenton. God
din, and Smith rs shown by tho tax
rolls. and an adjournment was then
taken to allow the attorneys time to
prepare their instructions to the jury.
Fred Sabin. assistant prosecutor,
opened thc arguments on FRIDAY eve
ming with an exhaustive review Of the
evidence.
The court room was jamncd and
staniin- room was At nrcuiurn on
SATURDAY. when Attnrr-v F. {. Glenn
opened The argument for the defense.
He said that none regretted the banks
failure more than Goddinc. not only
+ T., f.. t,,. tn-
cause il had made him an object Of
contumelv. Suppose Mr.. GoddinC
did make mistakes" Glenn said. that
doesn't show that the bank was in
solvent and that he kncw it." Glenn
placed the assets at Ss6I 900 and the
liabilities at Ss2,.ooo. leaving the bank
$4,000 to the good. OF the $4,000
in cash items. he said that $4,000 was
represented by the coal land. Expert
Spencer was branded "hirci wit
ness" and Glenn picked flaws in the
accountants evidence.
The Fcnton lands. Glenn admitted.
were not good banking security. But
in the case of Goiding. he. said. it
was like tho man who had hold Of tire
tail of the bear and corldnt let loose.
From the testimony Of former Scna-
tor Swink that the lands would nav
out IN time Glenn insisted that Cod
ding could be found guilty of no GRIM
inal deed.
"You must look at these matters
from the standnoint ~ the defendant .
Glenn admonishcd the iury. mot from
TIC ground of what might have been.
Judge not lest yc be Judged when
rna stand before the Rlitterirg throne
nj the Almighty up wonder"
Earl Cranston followed by urging
the inrv - put itself "in John r. God
dins's shoes on December 81 last.