The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1923-10-11
Possibilities Numerous

Possibilities Numerous
There are numerous possibilities.
The principal one hinges on the ques-
ton Of whether McCray will be IN
dIcted by the grand jury. It is known
that persons who have stated under
oath they did not authorize McCray to
sign notes for them and that they
knew nothing of notes signed with
their names and made payable to
McCray have been before the jury.
While the utmost secrecy surrounds
the grand jury investigation, there are
numerous indications that the inquiry
Is thorough. There have been numer-
GUS stories concerning the handling
OF State funds. Versions Of these
we're given the Republican State COM
nlittee recently by James P. Good
rich, former Governor and head of
the McCray rescue pool" and by
Ora Davies, State treasurer. Neither
has appeared before the grand jury.
When the investigation started
Charles w. Moores. special prosecutor.
indicated there might be occasional
adjournments to assimilate testimony
and to prepare for the calling of new
witnesses This is believed to be the
reason for only occasional one-day and
one-halfday sessions of the jury.
Appearance Not Immunity
Governor McCray has repeatedly
expressed his willingness to appear
before the grand jury, if his lawyers
permit him to do so. This would not
make him immune from indictment,
contrary to what appears to be q
general impression. A case in point
was the Lake County Federal liquor
investigation in which number of
defendants subsequently indicted and
convicted appeared before the jury.
Second in Importance to the grand
jury investigation is the bankruptcy
proceedings at Fit. Wayne. McCray's
attorneys are attempting to prove the
Governor is tiller Of the soil and as
such is immune from bankruptcy &C.
ton. The entire case is expected to
be hinged on this question.
II the court rules MeCray is not i'm
mune and declares him bankrupt, the
trust agreement so carefully drawn up
at the request Of McCray will be non
operative. 1t is believed also that the
persons interested in the pool headed
by Goodrich and to whom McCray
turned over many Of his assets would
be put in the position OF ordinary
creditors and may lose much of the
McCray property Of which they have
obtained possession.
Some May Have to Wait
II the suits on notes at Kentland
are successful, the probable outcome
there will be for creditors to obtain
judgments, making it necessary for
them to wait for their money. If the
bankruptcy suit is successful, the ac-
ton of the court in these cases prob
ably would be nullified.
Meanwhile, new facts concerning
the Governors transactions are COM
ing to light.
The Chicago Tribune today printed
two financial statements said to have
been made by McCray. one as of Jan.
l. 1928, and one as Of Aug 81, 1923.
The Tribune declares it has discovered
indications the Governor has been
trading in land during the last eight
months.
According to the Jan. 1 financial
statement the Governor listed his re-
sources as s2,174,772.S2 and his LA
bilities at $3.50, 674.10. leaving a net
worth of s1,7S8,0sS.22. The Aug. 81
statement as presented to creditors
showed assets Of S3.323,417. and
liabilities Of s2.652.6s2. leaving a net
worth OF 500, 735.90.
THE first financial statement was
used to sell McCray paper; the second
to appease creditors, the Tribune
charges.