The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1923-11-15
Assumed a Mortgage"

How did you pay for it?"
II gave $4,000 for it and assumed |
a mortgage of $4,000 The land was
bought by Mr. Williams, my asso-
ciate out there"
Did you ever see the property"
mo"
What about the tract Of 3,7O0 acres
III South Dakota?'
Judge Darroch. my attorney.
bought it for me-"
Judge Darroch is William Darroch, |
receiver forsthe Discount and Deposit !
Rank Of Kentland of which McCray |
formerly was president.
How did you pay for it?" Vesey |
asked.
with a check. There is 5000
mortgage"
"Who holds the mortgage?"
Trust Company Has Part
THE Deadwood Trust Company has
part OF 1t, and a man named Giles
has part"
rs that mortgage in the process
of foreclosure?"
Some of the interest became due
and l believe some of the property
is attached"
Governor McCray admitted not all
Of the $50, 900 indebtedness Of this
company was for the business.
Part of the notes were for cattle.
part were executed by myself with
myself as indorser," he said in
answer TO questions.
How many of them were for the
business?
Il can't remember. 1t was not profit
able I spent $50, 900 for improvements
In three years.
The Governor was then asked about
the purchase and operation Of farms
in Iowa and Minnesota.
Questions Inslstent
Under insistent questioning OF We
sey the Governor admitted that the
Candy Cattle Company was a con-
Germ owned wholly by the Governor
and that it had given him notes pay
able to him and made out by himself.
What was the idea of cxecut-
ing notes of the company to your
self? Was it TO sell them?"
Not necessarily. AS I said to
responsibility was great and it
was my Endorsement Of notes
upon which the banks depended.
I was worth many times the
notes"
Then no one had any interest in
this company except yourself no such
concern existed except in your own
mind" Vesey asked
McCray did not answer the question
directly
Does Not Remember
do you remember writing to pur~
chasers Of paper Of this company
saying the company was worth easily |
500, O00?" Vesey asked.
NO" I
us your memory good?'
II think So"
I'm reality the company owned
no property" why did you not
write your own personal note?"
Because banks want two-name
paper. They were in reality in
terested only in the name Of War
rem T. McCray and 1 knew I was
worth several times the face Of
any notes Of this kind"
Attempts of Vesey to question the
witness on the contents OF letter
in which McCray is said to have rep
resented the company as worth ''eas
lily 500. 900" were objected to by
James w. Noel, McCray's attorney
on the ground that the Governor did
not remember writing any such letter.
Referee Sheridan sustained this OBJ
lection.
Judge Albert B. Anderson recently. |
in referring the McCray case to Harry |
C. Sheridan, master in chancery de-
MED a motion on behalf of the Gov
ernor asking that the inquiry be re-
stricted to the Governors principal
occupation.
Anderson's Instructions
I'm determining this, every activity |
of life must be taken into consider
ation," Judge Anderson said Il do
intend to put hobbies on the referee
but will give him full scope. just as
has been done in every bankruptcy
case that has come in this court since
1 have been here"
According to news dispatches from
TT. Wayne attorneys for the petition
ers expect to present what they say
Is newly discovered evidence OF acts
OF bankruptcy committed by the Gov
ernor.
1t was believed that they would take
the position that in permitting judg-
ments to be taken against him In
several suits at Kentland recently
that acts Of bankruptcy were conf
mitted.
Bank HecAs Called
Among witnesses expected to ap-
pear in addition to the Cover
or. are James P. Goodrich. for
NOR Governor of Indiana and presi-
dent of the National City Bank; H.
M. Moberly of Shelbyville, president
Of the State board of agriculture; /.
Newt Brown, secretary treasurer OF
the board; Ross H. Wallace, presi-
dent of the Aetna Trust and Savings
Company; Reilly G. Adams, president
of the Security Trust Company and
]. ]. Kiser, vice president Of the
Meyer-Ixiser Bank lad a member OF
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