The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1914-11-27

knew nOtnlng oil II. He stated he had
never seen the stock of the Power
Grocery Company, which was carri-
ed as assets Of the bank, but under
stood it was there and didn't know it
had ceased to be carried as assets
He said he knew T. C. Moore carried
a large account but didn't know it had
been closed; said he had no control of
the bank except in subordinate way
and no control at all of it's policy.
He stated that Mr.. Alexander some
times transferred balances from some
other account in the bank to make up
overdrafts of depositOrS for the pur-
pose of cutting down overdrafts and
making better showing in his state
ments to the Banking Department
EXPERT p. c. SNYDER TESTIFIES
Paul c. Snyder, Expert Accountant,
who has been working on the books
of the bank for several months, was
next called.
Asked about certain notes, he said
that a note of Miss Elizabeth E.
Grimes for $1,000, of date June 16,
1913, and note Of ]. G. Redmon
and T. ]. Redmon for $1,000 of date
June 6, 1913, had been renewed as
ouOW IL NY IllC UOOhO, UUl tuS OlO liOISS
were left in the bank and were after
wards re-entered among the assets of
the bank and the proceeds of the
Grimes note placed to the credit of
John johnson to pay a note Mr.. AL
eXander owed Johnson, and 1925 of
the Redmon note was placed to Mr..
AleXanders credit and the balance
taken out of cash; that note of j.
G. Redmon for $4,000 of date of Oc-
tober 80, 1913, was renewed but had
not been taken out of the bank; and
was re-entered by Mr.. Alexander
among the assets of the bank and the
proceeds of the dead note used to
pay off note of the O'Neil Hemp
break Company TO the bank Mr. Al
eXander being chief owner of the
Hempbreak Company; that note
of II. c. Howard or $4,000 was paid
by renewal Of other old notes kept to
take up another note Of the Hemp
break Company. The Power Gro
Gerry Company's stock to the value of
$4,000 was carried in the assets of
the bank but were charged off, and
certain notes amounting to $42,50
substituted in place of this stock.
When asked if these notes so substi-
tuted were collectible, defendants at
torney objected and witness was not
allowed to answer. One note of Stuart
& O'Brien for 1000 was renewed and
the old note kept and afterwards re-
entered by Mr.. Alexander among the
banks assets and the proceeds taken
out in cash or in leash items" taken
up. Another note OF Stuart & O'Brien
for $1,000 was renewed and the old
note afterwards re-entered and carried
as an asset. The books of the bank
show the O'Neil Hempbreak Company
owed the bank total of $42 500. This
was paid by the Power Grocery Com
pany stock which was carried at S42,
500 on the books of the bank. This
stock is the same that was wiped out
by the substitution of the aforesaid
notes for $4,000.
WITNESSES EXAMINED TUESDAY
Mr. Nick Kriener testified that he
was approached by Mr. Alexander in
regard to converting into cash $751;
500 worth of Government bonds held
in his deposit box, and loaning said
proceeds, the value of which amount
cd to $43 800, to the George Alexander
& Co State Bank. Mr. Kriener said
that he at first refused and later con-
scented to let the baAiH have them pro-
yided they would pay him 6 per cent.
interest. Mr.. Kriener said that the
bonds were converted into cash and
that he took in lieu thereof the note
Of George Alexander & Company,
State Bank, attached to which were
number of notes on substantial
Bourbon people, same to be held as
collateral on the banks note. Mr..
Kriener further testified that he plac-
ed all of the notes in his safety box
at the Alexander Bank, and that no
different occasions Mr.. Alexander Sc
cured his key to the box. Mr.. Kriener
! claimed the ownership of the notes
| that had been removed from his box,
and further said that they had been
| taken out without his authority or
consent.
Mr.. w. T. Redmon identified two
notes against him as carried by the
! bank Mr.. Redmon said the notes
had been paid and were dead notes"
! Mrs. Rebecca Rudisill testified to
( loaning her money to Mr.. Alexander
for the bank, and thought that the
bank alone was responsible for same.
Didn't know that the note did not
appear on the books OF the bank.
Mr. Clarence Ashurst testified to
loaning $4,000 belonging to his wife
to the bank through Mr.. Alexander.
Refused to loan it to any individual.
Only recently learner his loan did not
/ appear on the books of the bank.
Maggie Wilson, colored, testified
that she deposited with Mr. George
Alexander on January %, 1914, the
| sum of $3.50, and that same was cred
/ tied on her pass book, said book be
/ ing produced in court. The entry on
| the book was identified as being made
by Mr. Alexander. Said that she did
not know that entry did not appear
on books of bank.
Attorney Emmett M. Dickson tes-
! titled that he had an account as Mas
ter Commissioner with bank. Had
never checked against this account
which showed great discrepancy on
books of the bank.