Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1915-05-06
Medina BANKERS
BouIs over
Cashier and Directors Of I2<SSlnct
Bank Held For Trial. T.

Upon the evidence and testimony
introduced At the preliminary hear
ing, A. w. Schroeder, cashier, and
H. H. Wheelock-and c. H. Barber, di-
rectors of the defunct Medina State
bank, were bound over by Justice
Bigelow to answer in district court
upon the charge of receiving deposits
into the bank after it was in an in
solvent condition, and permitting to
receive deposits in an insolvent bank,
respectively. The preliminary hear
ing was concluded late Wednesday
afternoon, and upon the testimony
offered Cashier Schroeder was bound
over. The other two defendants
waived examinations and were also
held to answer. Their bonds of $2,-
900 each for appearance in district
court were furnished.
Mondays Trial.
An aftermath of the failure of the
Medina State bank occurred today
when a preliminary hearing was held
in the case brought against one of
the banking officials on the charge of
receiving deposits into the bank after
it was in an insolvent condition.
Similar charges have also been
brought against two directors. The
hearing was opened before Justice
Bigelow in his court rooms this
morning and in the afternoon con-
tinued in the city hall, a larger
court room being needed, due to the
number of interested spectators pres
ent from Medina.
The failure of the Medina State
bank, on January II, 1914, created
a sensation at the time and there
were rumors of proceedings of this
nature. The, complaint was made by
William Wellhausen, a depositor,
against A. W. Schroeder, cashier, and
II, H, Wheelock and CHI. Barber,
directors, the charges against the lat
ter being >the#permittin t receive
deposits in al insol1gnt bank
The. case against Cashier schroe-
der was called first. Deputy, Bank
Examiner Hansen, who has gone over
the condition of the Medina State
bank, was placed upon the'sta to
testify as to such condition. States
Attorney Chase and Assistant States
Attorney Thorp are prosecuting the
case, while Senator W. e. Purcell of
Wahpeton and O. ]. Seller of James
town are representing the defendant.
Case Continued.
The state rested it's case against
the cashier and directors of the Me-
dina State bank in the preliminary
hearing before Justice Bigelow at the
the city hall Tuesday, subject to
the right to call later to the stand
Cashier Nesbit of the First Nation
al bank Of Fargo and Bank Exam
iner Syvertson and the defense COM
menced the introduction of their tes-
timony.
The state called witnesses to tes-
tify as to the securities and liabilities
of the bank at the time Of it's fail
ure January IL, 1914. Director Bar
Der testified as to the transactions OF
some banks, creditors of the Medina
State bank; in securing possession OF
collateral before the bank closed Its
doors, and also from this witness
evidence, as to the condition Of the
hank prior to the failure. Certain
testimony showed liabilities Of $10S,-
600 approximately, and approximate
ly $4,000 assets at face value, at
the time examination was made and
the bank closed. Lou Blaisdell, bar
ber at Medina, testified briefly as to
conversation. by a certain Fargo
banker regarding the condition of the
Medina bank.
Michael Murphy, president of the
Farmers & Merchants National bank
of jamestown and receiver of the
Medina State bank was called on the
stand Tuesday and testified %
to certain conditions during his re-
: ceivership. i
Unexpected Turn.
The testimony in the hearing OF
the defunct Medina State bank case
was continued through Wednesday
Gordon Nesbit, cashier of the First
National Bank Of Fargo, being upon
the stand. Bank Examiner Syvert-
son had also been called but not
placed on the stand yet.
Affairs took a sudden turn as re.
suit Of the testimony Of G. H. Barber,
given in the hearing Tuesday after
noon. It appears from this testi.
mony that at the time it was decided
1 receiverabe applied; for, for the
nrm Of sWheeleck e Wheelock. 'oi
which M Hams, ], Mr., sWeiser and