The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1911-07-01
3 is Entered i'm
[OuS Benedum Case
Is Held Responsible for
FSyRtire of First Citizens
Bank of Cameron.
MUST RETURN LARGE
SUMS TO DEI$ 5lTORS
Loans Made by Bs;} .-fNever Re
paid-AttOrne GEES Disal-
lowed by >. Court.

IN the Olrc1i' court at MOundSVille
yesterday Judge Frank W. Nesbitt en-
tered his decree in the famous case of
N. l.. Bene4um VS. the First Citizens
Bank of Cameron. The order was en-
tered as OF June -. but did not come
down. until yesterday.
The decree is intensely interesting
inasRluch as it holds Benedum respon-
sible for the wrecking of the bank and
directs, that he return TO persons who
we're depositors in the bank at the
time of its failure various sums az
gregatinlg about Sl5o.0O0
The history Of the case is this. On
December %. 1903 the First Citizens
Bank of Cameron failed owing several
hundred 'depositors sums varying from
% cents to several thousand dollars.
Loans Never Repaid.
Benedum was the head OF the bank
and as such II is said he caused to
be loaned 10 many concerns money
which was never returned 10 the bank.
Most OF fhese concerns were new en-
therprise( promoted by Benedum and
evidence was introduced tending TO
show that on some OF the loans made
he had raked of a promoters profit.
Knowing that the bank was about
To fail ~ appears that Benedum
threatened 10 withdraw ali his own
money and did Withdraw part Of in.
II is charges that these Withdrawals
caused the complete collapse OF the
institution
The suit has been pending in tho
Marshall county court for a long time
and has a tractcd widespread inter
est. The principal points in the de-
cree as handed down yesterday are
as follows;
Points In Decree.
The couT' adudiCates first the
claims OF some four or live hundred
depositors OF the First Citizens Bank
OF Cameron, and orders that they shaA
be allowed ,he fuu amount oi lneir
claims with interest from December
-. 1903.
Second-The court orders that no
credits OF VI. J.. Benedum or A r Fox
against the First Citizens Bank shall
be allowed o. pald until au other
creditors shall DE paid m fuu.
Beneduo1 Responsible.
Third-The court finds 100 effect
that the transactions OF VI. l. Bene-
1 dun. president. and 4. r. Fox. cashier.
ot the First Citizens Bank OF Cam
eron. we're responsible for the wreck
ing Of the bank Under this head
the court deals y m q large number
OF items and as % each item orders
that VI l.. Bened'm and \ r Fox
shall make restitution iu tIll with 10.
terest from December 30 1908. 20 the
First Citizens Bank OF Cameron.
some OF the iteus lu which juds-
ments are entered auair-t ST. l.. Bcnc.
dun are Of special interest
Notes and Liabilities OF " l. Eeue-
DUN as endorscr an Oun'lng 70 sl4.-
139i -. are ordered % be- paid by ~
l. Benedum
\ note OF VI J.. He1edum and 4 T.
Fox amounting 10 $2.i1I.1. i- ordered
% be paid by VI J.. Be~edum soto OF
J % Myers endorsed 1y q J. Hene-
| DUN :Dr f5u1.uu is OrdrIed % be pad
BY VI l. Bencdum
Note Of tho Cameron Glass Com.
'any endorsed by VI t. Bpncdum.
amounting with interest 20 81
90. is ordered 20 be iaid by II. l.
medium
Noto of tho Ipshur Class Company
t3.s}+l uifh interest. endorsed
m for S5HN.nu is ordered tO be paid
bid by ~ J. Heucdum
The Watson Transaction.
\ Do the transactions Of iay Wat
son. OF Fairmont. it is -horn fnaf the
. note of j. Fay Watson Tor be- sum of
So 00u. vas paid by Bcno. m loauing
% Watson g2n.OnNnn f2n. O of This
sum vas secured Iy 80 j. Bouodum.
surroudering certificate o. fte First
Citizens Rank in favor of m-cf 20