The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-07-15
GanbIed Off ST ,09b 600
Banks Money in Cotton
and Says Directors Stopped
Him and Broke Bank.
DIRECTORS HAD NO
IDEA HE GAMBLED
Carried Accounts With Reese
and Later With Foster in
Name Of 81. Johnson"
Jury Will Get Case Tuesday


HIS age marked chin quivering with
emotion, G. Hunter Raine cried like q
baby IN tho Second criminal court
tuesday morning, while his attorney,
hugh Magevney. recited the price Raine
already had paid for wrecking the old
Mercantile bank, and pleaded with the
jury TO keep him from further years
oehlnd nenitentiary walls.
Has he paid2 Has that old man
paidY' Magevney asked IN vibrant tones.
Yes, he has paid--ln money In time,
IN hleod, in years., In everything dear
to him, family, homie, friends, his name
almost byword for dishonesty---And
nothing ever said OF the thousands OF
dollars he made for other people"
Magevney's argument TO the Jury was
seven -eighths n plea for mercy for the
62-yenr,old man who served five year
sentence In the federal penitentiary for
the wreoklng OF the old Mercantile bank,
ana who now may forfeit his liberty for
violation Of the state laws growing out
OF the same bank crash. The other
was stirring. thrilling, dramatic
plea,-was for the jury to consider
Raines crime ns civil matter, M
stead OF a criminal one.
Livid Prison Scene.
II WAS the mention Of the price he
had paid that brought up the wells OF
| fltHllO0 OF IflenuS gone,
the mention OF the lonely days In the
federal prison, where Raine changed
the garb OF a millionaire dandy
Tor. the stripes Of u felon, where each
| night the click of a key In n heavy lock
shut him OF from even the other prison
inmates where he was sentenced for
five years, starting almost at the age
OF 90 years--these were the things that
| made Hunter Raine lose the poise and
control which he has maintained
through more than two weeks OF trial.
The mention Of the ex-bank presidents
dead wife also had marked effect on
| Ralne.
Raine had not attempted to lie to the
| jury, but had told the truth regarding
all his speculations. He argued that II
| was not the way OF a thief to break
| In and steal, and then to leave note
| for the amount Of the valuables he had
obtained, thus saying, ~. Hunter Raine.
have taken this amount and owe you
| for It,"
Magevney contended that thief
| would not pay interest on the money he
had stolen, but that Raine had paid
interest all through the seven years
| when he took the money OF the Mercan-
tile bank, to pour Into the rapacious
| NAV Of the cotton market.
All OF these points Magevney brought
out In leading up to his contention
that there can be no crime without the
intent, and that though Hunter Raine
was undoubtedly guilty of a moral
wrong, he has confessed that wrong
| by paying back securities, realty and
| other valuables worth t944.5 500 for the
| S78S, s0i,76 the three counts in the in
| dictments on which he was tried charge
! no embezzled stole and was guilty OF
fraudulent breach Of trust in taking
MRgevney scored the directors Of the
| bank stating that II they did not know
OF Raine's speculations, they did not
properly keep their eyes open, as was
| their duty,
They knew Raine was millionaire,
| and certainly could not have imagined
he saved that sum out OF his salary OF
| $500 a year as president OF the bank,
Mageney argued.
Directors Scored.
He pointed out that In 1907, when
Raine, after an absence from the bank
| OF IA months, was pressed to come back
| by Albert S. Caldwell, who succeeded
him as president, Caldwell found Raine
| In the office of Hubert H. Reese, cotton
broken and one of the banks directors,
| where Raine was watching the board !;
that Caldwell took Raine to his office.
| where were assembled the other di-
rectors Of the bank; that all pressed him
again to take over the reins OF the
banks direction. From this he argued
that they certainly must have known
of the speculation
Magevney read from the bylaws OF
| the bank to prove that Raine always
had been the executive officer Of the
bank that he passed on all loans. had
the implicit confidence Of the directors
and that in such capacity they never
questioned his loans
The mention of the Mercantile bank,
the child of Raines brain. and the
states contention that Raine wrecked
the bank. Magevney scoffed. "As soon
imagine a mother staying her first
born" was the way he disposed Of this.
Sam o. Bates, states attorney, will
close for the state, starting at 2 o'clock
Tuesday afternoon The case will be
in the hands OF the jury by 3:l5 to $50
| o'clock.
Argument in the Raine case was be-
gun at 1918 o'clock Tuesday morning
after three witnesses had testified to
Raine's good character, closing the de-
fense, No rebuttal testimony was In
troduced the state announcing closed
Immediately after the defense did.
John EXby, assistant states attor-
ney. made the opening argument for the
state, lie began with dissertation on
the hot weather and the unpleasantness
of serving on a jury during the sum
mer months. Some of the jurors have
been locked up on the Raine case SINCE
Monday, July Z, Exby then told the
Jury OF citizens duty when called to
Rry service, He then summed up what
he expected to dwell upon in his argu-
"There are three things | wish to
tell you about" Exby said They are
the law relative to the case on trial,
Continued on Page II, Column ~
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