The Birmingham age-herald., 1913-03-19
ELEVEN ARE INDICTED
FOR VIOLATION OF.
STATE BANKING LAW.
George B. Cox and Ten
Trust Company Officials
Are Indicted in
Cincinnati

Cincinnati. March 1S.-George B. Cox,
former political leader here and one time
president of the Cincinnati Trust COM
pany. together with 10 other officers and
directors of the trust company, were
charged with having violated the state
banking laws in indictments returned to-
day by the Hamilton county grand jury.
The others indicted were:
Nathaniel s. Keith. secretary of the
trust company.
Fletcher r. Williams, treasurer.
j. NJ. Crawford, cashier. once consul
general at st. Petersburg.
Charles Fl. Davis, director, former pres
ident of the Second National bank here.
David G. Edwards. director. broker.
DR.. James F. Heady, director.
James M. Hutton. director. broker.
c. ". Parrish, Hamilton, o., director.
Norman g. Kenan, director, former
president of the Union Gas and Electric
company.
I. N. Miller, superintendent of the West
ern Union Telegraph company here.
Two indictments were returned.
One of nine counts charged Cox, Davis,
Kenan. Heady. Hutton, Miller. Keith and
Williams with misapplication of $4,000
Of the trust company's money through
alleged illegal loans to the Ford and
Johnson Chair company, of Indianapolis.
Cox was also director of the chair COM
pany.
Abstraction of Note
The second indictment, In two counts,
charged Cox, Crawford, Davis, Edwards,
Heady, Hutton, Keith, Williams and Par
rish with the abstraction of a note for
1852, 500 with the intent to defraud the
trust company.
All of the defendants except Heady and
Hutton were in court when the indict-
ments were read. All gave bonds for
mann, president of the Cincinnati club of
the National Baseball league, signed the
bonds for Coxs release.
Attorney General Timothy Hogan of
Columbus, who has aided in the grand
jury investigation of the affairs of the
trust company. announced that he would
assist in the trials of the defendants and
said an effort would be made to get trials
at the next term of court.
The affairs of the crust company have
been subject to investigation most of the
time since its absorption oy the Provident
Savings Bank and Trust company in De-
cember, 1911.
Cover Alleged Excessive Loans
The note for $685. 500, with the abstrac-
tion of which the officers were charged,
was listed in the assets of the bank in
November, 1911, at the instance of the
state banking department. 1t was to
cover alleged excessive loans made to the
Ford and Johnson company. Later the
note was withdrawn, the indictment
charges, without payment being made the
banw.
The indictments charging misapplica-
ton also were based on transactions with
the Ford and Johnson company and
charges that loans of S115,000 were made
to the chair company when that concern
owed more than s500,O00 to the trust COM
pany. By the terms of the state law,
the trust company, which was incorpor-
ated for $4,000. was forbidden to loan
more than 100000 to any Individual, firm
or corporation
The maximum penalty of the law under
which the indictments were brought is q
fine OF $4,000 or 30 years Imprisonment,
or both. No date was set for arraign-
ment of the defendants to enter pleas of
defense.