The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-07-06
By AID Carter

served, and so far as the people of
Richmond knew, he spent but little
money The actual financial condi-
ton of Edgar F. Hiatt on May 4, 1921,
is shown in one of the indictments
that was returned against him by the
Wayne county grand jury. The spe-
cific charge is that as president of
the bank, and director he overdrew
his personal account. The records
show that on the date mentioned, May
4, 1921, little less than a year before
the Dickinson Trust company was
temporarily closed, Hiatt had a de-
post of S26.76 and that he drew three
checks totaling $24296 against this &C
count and saw that the checks were
paid
Another count in the indictment
against Hiatt charges him with en-
bezzling $4,000 for the use and bene-
fit of Frederick Hollingsworth. This
is money that was used as a part pay-
ment on the Magnolia plantation in
Mississippi.
Charge of Perjury
The charge of perjury, under which
Hiatt was indicted, shows that Hiatt.
w. Cox a state bank examiner. who
is now president of the reorganized
Dickinson Trust company. that the re-
sources of the bank were S5.453. 6OS12.
when in truth and in fact, as the indict-
ment charges, the resources of the
company had been crippled to such an
extent that the assets of the concern
were not near the amount that Hiatt
said they were.
Several counts in the indictments
do not explain for whose benefit the
money was obtained, or give any de-
tails of transactions in which it was
known outside the grand jury room
Hiatt was involved. One count in the
indictment says that in September.
1921, Hiatt embezzled $40, 900, and no
further details are given. Another
charge is that in September Hiatt en-
hezzled 100000, but nothing is shown
as to what became of the money. An
other count charges that he embezzled
$Z3o,OO0, but no statement is made as
TO what composed the items of this
enlightenment, or in whose benefit the
money was used. The indictments do
not set out in detail and specifically
the total amount of the money Hiatt is
alleged to have taken. His total en-
bezzIement, as shown by the indict-
ment on which he probably will be
tired, Is alleged to have been 1922
o2o.O5, and the grand jury, it is under
stood, was able to find out only where
a part of this money went The specu-
lauons OF Hiatt, in real estate, extend
ed over number of years and it is
asserted that the record of some of
the transactions have disappeared, and
1t was impossible to determine what
mas become of them. The investigators
1t is understood, We're not able to ascer-
tam why G. l.. Peck & Co. should re- !
celve $135, 900 on one occasion, $4,000 |
at another time, and S4S,000 at still /
another time. 1t is understood that |
the investigators found that much more /
money than these three items passed |
through the hands of Peck, and the |.
various companies in which he and
Hiatt We're interested.
A special effort was made without
to ascertain what had become |
of the $4,000 paid to McNally, Peck
Co, of Chicago, on Sept &c. 1921, a !
company of which Edgar F. Hiatt was |
vice-president
Obtained Money on Cotton.
When Hiatt obtained control of one
southern plantation there was some
cotton on it and Hiatt is said TO have /
put into the bank cotton waybills and /
took out $4,000 and the investigators |
have been unable to learn what be- |
came of the cotton OF who got the /
money after Hiatt drew it from the !
Dickinson Trust company Hiatt also |
used a good deal of the trust COM !
pany's money, it is said, in the pur-
chase of the Glass block, at Marion, |
and he used the paper of the Glass
BLOCK company, of which he was presi- |
dent, to take out of the bank of which |
ne was also president, $4,000, and |
that money has not been paid Hiatt |
also speculated in real estate in Nun. |
Gle and Newcastle and is said to have
used the money of the Dickinson Trust |
company in these speculations. Be
cause of these large transactions and /
the very large amount of money that |
Hiatt is alleged to have taken from the /
Dickinson Trust company, the investi- |
gators believe that Hiatt still has con
money and property hidden |