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LIVING A DOUBLE FINANCIAL LIFE Proved Too Much in the Long Run For the Day and Night Bank Of St. Louis (Associated Press) St. Louis, Jan. 6.-The Night and Day Bank, with deposits of three million dollars, did not open for business today. The state bank examiner said examiners had been auditing the books for several days and found an apparent discreprancy of more than one hundred thousand dollars. The employes are said to have not appeared at the bank since Wednesday.
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GENERAL f thanks Marshal Foch sent a lett to President Rea of the Pennsylvania Railroad for directing his railroad tour of America and Canada. George A. Eng, acting chief enforcement agent in Detroit, declared an end will be put to liquor traffic if the names of customers of bootleggers are published. A "treaty of peace" between the city of Detroit and the Detroit United Railway, agreed to recently by plenipotentiaries of each, shortly will give Detroit the distinction of having the most extensive municipally-owned street car system in the world. Pennsylvania Railroad will place orders for the construction of twenty additional all-steel dining cars of the largest and most modern type. Seaboard-Bay, a subsidiary to the Seaboard Air Line Railroad, applied to the Interstate Commerce Commission for a loan of $4,679,892. The American delegates to the conference for the Limitation of Armaments are wondering what will become of the Franco-Japanese treaty, which is not so sweeping an alliance as the Anglo-Japanese compact, but pledges a certain amount of co-operation in the Far East. The Night and Day Bank of St. Louis suspended. A discrepancy of more than $100,000 reported found in accounts by examiners. Governor General Wood of the Philippines advised Igorrote chiefs, with whom he conferred at Baguio, to stop eating dogs and substitute sheep and goats. Samuel Untermyer, council to the Lockwood Committee in New York City, told the committee at hearing that the General Electric Company has a "complete monopoly" over the production of electric light bulbs in the country According to report from Rome, there is little danger of a general financial crisis in Italy, despite the closing of the Banca de Sconto. Pennsylvania crude oil was reduced 50 cents a barrel to $3.50, it was announced by the Joseph Seep Purchasing Agency, known as a Standard Oil affiliation. A majority of 11,316 physicians in nineteen states, replying to a questionnaire sent out by the American Medical Association, assert that they do not regard beer, wine or whisky as necessary therapeutic agents in the practice of medicine.
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The indictment of the diret. tors of the suspended Night and Day Bank of Rt. Louis on the charge that they allowed the bank to receive deposits after it was known to have begonde in. solvent- penal offense under the law-has doubtless created sensation in banking circles generaly. There is little probabili. ity, however, that the prosecut ing officers really purpose to make the directors suffer the prescribed penalty for their in fraction of the banking law, or that a jury could be found to convict them under it. All these directors are men of the highest moral character as well as social standing and it cannot under any circumstance be assumed that any of them had a guilty knowledge of the insolvency of the bank they directed before its actual suspension. The pur pose of the indictment, to our mind, is to call all bank director ates in the state to the sense of their duty as prescribed by the law, that has the object of preventing the misuse of a bank's funds by any of its executive of ticers. In the case of the Night and Day Bank as in that of the late Peoples Bank of De Soto and a number of others that have occurred in the state within a recent period, the bank was under mined by an executive officer in whom the members of the board of directors of the institution had absolute confidence and whose periodic report of its solvency they passed upon without question or examination as to its reliability. They felt they could not do otherwise or offer the implication that they did not trust the reliability of the state ment. And that is the rock up on which banks are wreckeda feeling of delicacy in applying the duty the statutes impose on bank directors. Just how this difficulty may be overcome is not easily determined. Perhaps an amendment to the state banking law making it compulsory for bank directorates to give the adairs of their respective institu sione personal examination at reasonably frequent intervais might prove to be of benefit, seeir g that the force of inspec tors employed by the depart ment of the State Bank Com missioner is inadequate to give such frequent reviews. Mean while. while bank failures are always to be deplored and their occurrance must urge further steps towards still greater bank ing safety than we already enjoy. we have cause for congratulation in the fact that it is the rule rather than the exception that our banks are conducted by careful and conscientious men, and that where one bank has failed a thousand give us secure depositories for our money. ihh -
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Capital is a friend, of the people. It is capital, not bread doctrinaire disquisition, that puts and butter on the tables of the people, in clothing on their backs, furniture their homes and sunshine in their hearts. Soviet Russia now realizes this. The governor insists that North Carolina has established a splendid but record in the growing of crops, gardens. He wants the famlly have every food that he wants to is required Milk, to make a balanced ration. vegetables and fruit are required. What did the recent "clean-ups" clean up, anyway? The more you learn the more you know. Latest strike news: Health department says we must all keep our feet dry and warm during this moist spell. A congressional committee is going to ask Harding to let the government "buy up" all the liquor supplies in the country. They seem to forget that Uncle Sam hasn't but fifty billion "ghekels" to his credit. Well, the Night and Day Bank in St. Louis and its officers and directors have discovered that Almighty God is no "respecter of persons" just as Governor Small (small) of Illinois has discovered that he is a rather "small potato" after all. The Night and Day Bank in St. "defunet" and left the of said bank Louis depositors has gone "out officers in the cold." In other words, the and directors of said bank have "looted" and "gutted" it completely, At any rate, so it appears. been the indicted officers and directors have grand jury and under bonds for their heavy by the appearance placed in court and to give a strict accountability for their "deeds done in the body" -according to Scripture, and the banking laws of the great state of Missouri. . The accountability of bank officers inescapable-the! financial acunder the law over moral countability is accountability and and beyond bank- their anything defined by law. The ing business is no "mystery." Apparently neither law nor prudence was followed in the Night and "looted" Day bank. by The bank, it seems, was its had officers been withdrawn and directors. from with Great its the funds sums certhat any "profits" tainty for private speculations, made would any accrue to individuals while "losses" incurred would be imposed on the bank. How was it possible for this to be done without knowledge of at least the executive officers? This bank, it is said, also accepted deposits while in an insolvent condition. The whole business management of said bank looks "rotten," to say the least. Stated in business terms, the patent fact is that Soviet Russia is paralyzed by an unbearable "overhead charge." Its administrative "unity" requires the maintenance of a police-power that much: the productive system bear the pocosts cannot too "weight" of the litical or protective system. Now comes the news that 42 per cent of the banking power of the South was lodged in banks which have not become members of our Federal Reserve System, and in the West 30 per cent of the banking power was not included in the system, while in the Pacific states 36 per cent of the strength remained outside of the system. All of this banking power should come into the Federal Reserve System without unnecessary delay. not only for the purpose of strengthening the system. but for the purpose of uniformity and protection of all members of our federal reserve banking system and for the purpose of facilitating and expediting their banking business everywhere. Now if the Federal Reserve Board will administer the system as intended in the law (free from all "dictation" from Wall street influences), our federal reserve system is and always will be the best constructive banking system ever devised and ordained by the subtle intellect of man and will forever put an end to all "artificial" panies in these United States of America. Now as to the soldier bonus, it appears that the great and increasing volume of money thus put escapes securities and unfairly into tax-exempt its just burden of taxation renders it
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DISTRICT COURT MOTION DOCKET PAGE 278— 37426—Sheff v Sheff, dem. 37412—Mathews v Woody et al, for add. bond. 37261—Chicago Bridge & I Wks v Walker, to quash; dem to pet. 22582—Fairview O & G Co v Tierce et al, to dis. 31848—Witt v Black et al, for new trial. 36391—Johnson v Deutsch, for new trial. 37057—Ball v McClure, dem. 37057—Ginely v Bowen. 36068—Gunter v Gunter, to vacate order for jdg. 37313—Laswill v Locke et al, dem. PAGE 279— 37408—Goldsticker v Tucker, to make def. 37314—F D Bearly Lbr Co v Kelly et al, to quash sum. 37371—Parsons v Stoddard Engraving Co, dem. 31369—Hubatka v Cornelius et al, for new trial. 37339—Reed v Great Amer Ins Co, dem. 38893—Green v Loughmiller Bros, to elect. 34623—Thorp v Harrah, for new trial. 34683—Marsh et al v Okla G & E Co, to make def. 35571—Nelson v Okla Ry Co, to make def. 36722—Draper et al v Hartman et al, for jdg on pl. 35797—Ranger Burk Petr Co v Bass et al, to strike. PAGE 280— 35759—Harri vs Pryor, dem. 37351—Okla City B & L v Fielding et al, to strike pt of ans J N Sheafer. 37180—Mann v Pearson etc, dem to pet. 36800—Reed v Gladish, to strike. 34360—Tuohy v Dancy et al, dem to amd pet. 35230—Heistand v Son Surety Co, to strike. 37310—Cornelison v Okla Ry Co, to make def. 36678—Booth v Rucks & Thomas, to make def. 34861—Whitley v Ferrell, dem to x pet. 37223—Stevens v Putney, to strike; to make def. PAGE 281— 37619—Rogers v Rogers, amd mo for ali, etc. 34646—Johnson v Valleau, for new trial. 37019—Androcopuulas v Dolese Bros Co, dem. 37050—Hutchison v Okla G & E Co, demurrer. 35907—S W Nat Bk v Atkins, to make def. ———Browning v Browning, to strike; to adjudge in contempt. 34752—Darnell v Williams, to dis. St. Louis, Mo., Feb. 21.—The nineteen indictments against H. H. Hohenschild, president of the defunct Night and Day bank, charging him with assenting to reception of deposits in a failing institution, were thrown out today by Circuit Judge Falkenhainer, who said the indictments contained a technical defect. (13464) NOTICE OF SALE OF PERSONAL PROPERTY BY ADMINISTRATRIX No. 5240 In the County Court of Oklahoma County, State of Oklahoma. In the Matter of the Estate of A. L. Severin, Deceased. Notice is hereby given that Bess Severin, administratrix of the estate of A. L. Severin, deceased, pursuant to an order of the County Court, will offer for sale and sell the following personal property belonging to the estate of A. L. Severin, deceased, to-wit, Three hundred sixty (360) shares of the capital stock of the Severin Tire & Supply Company, a corporation, which sale will be made at private sale on or after the 5th day of March, 1923. Bids in writing should be delivered to Bess Severin, administratrix, by leaving at the office of her attorneys, Asp, Snyder, Owen and Lybrand, 609 Terminal Building, Oklahoma City, Oklahoma, or by delivering personally to her at her residence at 706 W. 17th Street, Oklahoma City, Oklahoma. Bidders are referred to the order of court authorizing this sale, which is on file in this matter in the County Court of Oklahoma County at the Court House in the Court Clerk's office, for further details. (13411) NOTICE BY PUBLICATION No. 37105. State of Oklahoma, County of Oklahoma, ss. In the District Court within and for said County and State. Stella Gray, plaintiff, vs. James Gray, defendant. The State of Oklahoma to the said defendant: You, the said defendant, James Gray, will take notice that you have been sued in the above named court for a divorce on the grounds of gross neglect of duty and extreme cruelty, and plaintiff further prays for a decree of absolute title to following described real estate, to-wit: Beginning 35.2 feet from northwest corner of lot 1, block 4, Park Place Addition to Oklahoma City, Oklahoma, thence south parallel with west line of lots 1, 2 and 3 to south line lot 3; thence east 24 feet 6 inches; thence north to north line lot 1; thence west along said north line; thence 24 feet 4 inches to beginning, and that defendant be forever barred from setting up any claim thereto, and you, said defendant, must answer the petition filed therein by said plaintiff on or before the 21st day of March, 1923, or said petition will be taken as true and a judgment for said plaintiff will be rendered according to the prayer of plaintiff's petition. Attest: CLIFF MYERS, Court Clerk. By CARL TRAUB, Deputy. (SEAL) J. L. JONES, Attorney for Plaintiff. 2-7-23 3-1-23 (13359) NOTICE OF SALE OF LANDS UNDER EXECUTION No. 31924. In the District Court of Oklahoma County, State of Oklahoma. Ruth Holzapfel, plaintiff, vs. Chester McCreary, Mary D. Couch, Thomas Edwards, A. P. Bethel and T. S. E. Brown, defendants. Notice is hereby given that in pursuance of a writ of execution issued out of the clerk's office of the District Court in and for Oklahoma County, State of Oklahoma, on the 25th day of January, 1923, in an action wherein Ruth Holzapfel was plaintiff and Chester McCreary, Mary D. Couch, Thomas Edwards, A. P. Bethel and T. S. E. Brown were defendants, commanding me to levy upon property belonging to said defendants sufficient to satisfy a judgment rendered in said action in favor of Ruth Holzapfel against said defendants for the sum of $288.50, with $27.87 attorney's fees and $26.15 costs, and accruing costs, with interest from the date of judgment, the 6th day of December, 1921, I have levied upon certain lands and tenements belonging to the defendant, Thomas Edwards, not exempt from sale under execution for want of goods and chattels of the said Thomas Edwards, to-wit: Lots One (1) and Two (2), Block Twenty-three (23), Military Addition to Oklahoma City; Lots Fifteen (15) and Sixteen (16), Block Twelve (12), in Phillips and Meads Addition to Oklahoma City; Lot Sixteen (16) of Eddies Terraced Addition, being a sub-division of Lot Nine (9), Block Seven (7) of Durlands Second Addition to Oklahoma City; situated in said Oklahoma County, Oklahoma, and have duly caused said lands and tenements to be appraised according to law at $5200.00, including and subject to a mortgage of $1700.00 on all of said real estate in favor of the Oklahoma City Building and Loan Association, and of a $1200.00 additional mortgage to said Oklahoma City Building and Loan Association, less a credit of $270.00 on Lots 15 and 16 in Block 12, Phillips & Mead's Addition; now, therefore, notice is hereby given that in pursuance of the commands of said writ, I will offer for sale and sell for cash to the highest bidder said lands and tenements, or as much thereof as will satisfy the said judgment and costs, on the 27th day of February, 1923, at 2 p. m. of said day at the west front door of the court house, in the city of Oklahoma City, in said County and State, the said lands and tenements having been appraised and to be sold subject to a first mortgage to the Oklahoma City Building and Loan Association of Oklahoma City, Oklahoma, in the sum of $1700.00 on all of said real estate and a further mortgage of $1200.00 less a credit of $270.00 on Lots 15 and 16 in Block 12, Phillips & Mead's Addition, in favor of said Oklahoma City Building and Loan Association. Witness my hand this 26th day of January, 1923. TOM CAVNAR, Sheriff of Oklahoma County, Oklahoma. By R. B. THOMAS, Undersheriff. ALBERT L. McRILL, Attorney. 1-26-23 2-26-23 (13422) PUBLICATION NOTICE No. 33583. State of Oklahoma, County of Oklahoma, ss. In the District Court within and for said County and State. First National Bank in Oklahoma City, a corporation, plaintiff, vs. Edward E. Cornelius, et al., defendants. The said defendant, Mary Donohoe, will take notice that she has been sued in the above entitled action by the above named plaintiff, and that she must appear and answer the petition of the plaintiff on or before the 22nd day of March, 1923, or the allegations thereof will be taken as true and judgment rendered according to the prayer thereof, and said plaintiff will be awarded judgment against Edward E. Cornelius and Cleopatra Dix Cornelius, his wife, in the sum of $2200.00 with interest from January 5th, 1920, at the rate of 8 per cent per annum and $220.00 additional attorney's fees and costs, which will be adjudged to be a mortgage lien upon the lands and premises located in Oklahoma County, State of Oklahoma, to-wit: Lots seven (7) and eight (8) in block twenty-three (23) Military Park Addition to Oklahoma City, according to the recorded plat thereof, superior and paramount to the judgment lien now claimed and asserted by the defendant, Mary Donohoe, by reason of a judgment rendered in cause numbered 30279 of the civil docket of the District Court of Oklahoma County, State of Oklahoma, on September 2nd, 1921, in favor of Aurelius-Swanson Co., Inc., in the sum of $2,306.63 and $200.00 attorney's fees, now assigned and vested of record in said defendant, Mary Donohoe; and said mortgage lien will be foreclosed and the premises ordered sold, free, clear and discharged of all claims, rights and judgment liens upon and against said property now or heretofore asserted by the said Mary Donohoe. Witness my hand and seal of said Court at Oklahoma City, Oklahoma, this 8th day of February, 1923. CLIFF MYERS, Court Clerk. By FRITZ BLUMENTHAL, Deputy. (SEAL) WILSON, TOMERLIN & THRELKELD, Attorneys for Plaintiff. 2-8-23 3-3-23 (13439) NOTICE OF APPLICATION FOR APPOINTMENT OF ADMINISTRATOR No. 5377 In County Court, County of Oklahoma, State of Oklahoma. In the Matter of the Estate of John Missel, Deceased. The State of Oklahoma to the Heirs, Next of Kin and Creditors of the said John Missel, Deceased: You are hereby notified that Ed L. Hahn Undertaking Co. has applied for letters of administration on said estate to be granted to Walter Benson, and that said application will be heard at a regular term of said Court held at the Court Room of said Court in the County Court House in Oklahoma City, Oklahoma, on the 23d day of February, 1923, at 9 o'clock A. M., when and where all persons interested may appear and contest the same. Witness my hand and the seal of said Court hereunto affixed this 10th day of February, 1923. C. C. CHRISTISON, County Judge. (Seal)
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EMPTY CELLS AND EMPTY VAULTS. The least the State of Missouri can do, facing a new Night and Day Bank deficit that may reach $122,000, is to make good every cent lost to the depositors while the bank has been in charge of a Deputy State Banking Commissioner. Whatever deficit there may be, not collectible from the bond of the Deputy Commissioner, can and should be covered by an appropriation from the Legislature. Anything less would be a breach of faith with the depositors, discrediting the State in a fashion intolerable to Missouri self-respect. There remains the question of a defalcation. Mr. Ross's criminal guilt cannot be taken for granted, although he admits improper drawing of checks totalling $70,000, and has failed to show that he replaced the money. His conduct is something for a jury to pass upon. If there has been a criminal diversion of funds by Deputy Commissioner Ross, the primary fault lodges in his own lack of integrity, but that is not all. Where was the deterring force back of him? Where was the knowledge, borne in upon him by example, that the path of a bank looter runs from the bank to the prison? No man, let him be as weak as water and as crooked as a ram's horn, would have touched a penny of Night and Day Bank funds if the State of Missouri had dealt out quick and iron-handed justice to those who stole the first million dollars. The miserable record made in our courts, in dealing with the original crime, was an invitation to repeat the theft. If this does not stir the people of St. Louis into a united and overwhelming demand that the machinery of justice shall function, we might as well confess that there is no such thing as law for the protection of society. Isn't it about time to grasp the fact that such travesties as this are at the bottom of the Ku Klux Klan movement; that they breed anarchists and Communists; that they furnish the self-justification of highway robbers and petty thieves? Over a year has elapsed since the Night and Day Bank was gutted, and not a man connected with the crime has been held to an accounting. It is time for the citizens of St. Louis to show what they intend to do with anybody who gets in the way of a quick and prison-filling clean-up of this hideous mess. Mayor Kiel and Gov. Hyde have been invited to act as judges in a fiddlers' contest, probably because they witness so much fiddling in the affairs of government.
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ROSS SECURITIES TO BE EXAMINED Will Probe Possibility of Notes as Property of St. Louis Bank. ST. LOUIS, April 10.—Circuit Attorney Howard Sidener today requested Charles N. Giles, special deputy finance commissioner in charge of the liquidation of the defunct Night and Day bank, to advise him immediately if securities pledged by Donald W. Ross, former state bank examiner, to secure doubtful paper in the West Side State bank of Kansas City, when he became interested in the latter bank, were the property of the Night and Day bank.
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CHECK THE LOST SECURITIES. Records Fail to Show West Side Bank Received Them. (By the Associated Press.) ST. LOUIS, April 10.—The circuit attorney, Howard Sidener, today requested Charles N. Giles, special deputy finance commissioner in charge of liquidating the defunct Night and Day Bank, to advise him immediately whether securities pledged by Donald W. Ross, formerly state bank examiner, to secure doubtful paper in the West Side State Bank of Kansas City, when he became interested in the latter bank, were the property of the Night and Day Bank. An examination of the inventory of the property of the defunct local institution on file in the office of the recorder of deeds failed to show any of the notes pledged by Ross to the Kansas City bank were the property of the Night and Day Bank, it was said. According to word received here from the office of the state finance commissioner at Jefferson City, it was said that if it were found any of the securities pledged by Ross were found to be the property of the Night and Day Bank, an attempt would be made to recover them. Meanwhile, Ross, who is charged with being short $70,927 in his accounts while he was liquidating the affairs of the local bank, is in hiding, and the police of St. Louis, Kansas City and other cities have been requested to search for him. Circuit Attorney Sidener added that he had gathered sufficient evidence to justify a charge of embezzlement against Ross.
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BARRETT CONFERS ON ROSS CASE Action to Be Taken Against Former Deputy Finance Commissioner Discussed. By The Associated Press. ST. LOUIS, Mo., April 11.—Attorney General Barrett went into conference today with Circuit Attorney Sinderer on the procedure to be taken against Donald W. Ross, who until Saturday was deputy state finance commissioner in charge of liquidation of the defunct Night and Day Bank here. Ross was discharged when it was alleged he was $70,279 short in his accounts, and an order has been issued for his arrest. Deputy State Finance Commissioner Gilles, who replaced Ross in charge of the bank's liquidation, and T. E. Francis, attorney for the state finance commissioner, conferred with Circuit Attorney Sinderer yesterday. Circuit Attorney Sinderer, following this conference, said Gilles and Francis had given him something tangible upon which to proceed against Ross, but that their facts still were "isolated" and did not constitute a complete resume of the case. They promised, he said, to continue their inquiry and furnish him the results.
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Change of Venue to Hohenschild Case By The Associated Press. ST. LOUIS, Mo., April 30.—Circuit Judge Falkenhainer, today granted a change of venue to Joplin, Mo., for the trials of Henry H. Hohenschild, president of the defunct Night and Day Bank, and former Governor Elliott W. Major, of Missouri. Presiding Judge William H. Allen, of the St. Louis court of appeals, and Phil McDermott, a local real estate operator, who were directors of the bank.
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Cashier of Defunct Bank Given Sentence (By the Associated Press) Union, Mo., June 1.—Arthur O. Meninger, cashier of the defunct night and day bank of St. Louis, convicted on a charge of embezzling $130,677 from the institution by a circuit court jury here last night, was sentenced to from five to ten years imprisonment.
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BANK'S RECEIVER SHORT $167,000 Failed Institution In St. Louis Already Had Million Loss. St. Louis, Aug. 21 (Associated Press). --Donald W. Ross, former deputy State finance commissioner, in charge of liquidation of the Night and Day Bank, is short $167,000 in his accounts, Haskins and Sells, public accountants, reported to State Finance Commissioner Millepaugh here today. Ross is under indictment for alleged embezzlement in connection with his handling of affairs of the bank. The bank failed in January, 1922, with losses of approximately $1,000,000.
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Shortage Charged Against St. Louis Bank Receiver St. Louis, Aug. 22—Donald Ross, formerly deputy state finance commissioner, in charge of liquidation of the defunct Night and Day bank, is short $167,00 in his accounts, according to a report of Haskins and Sells, public accountants, made to State Finance commissioner Milspaugh here today. Ross already is under indictment for alleged embezzlement in connection with his handling of liquidation affairs of the defunct bank.
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BANK RECEIVER SHORT $167,000 Man Who Had Charge of Liquidation Is Under Indictment (By Associated Press) ST. LOUIS, Aug. 21.—Donald W. Ross, former deputy state finance commissioner in charge of liquidation of the defunct Night and Day Bank, is short $167,000 in his accounts, according to a report of Haskins & Sells, public accountants, made to State Finance Commissioner Millspaugh here this afternoon. Ross already is under indictment for alleged embezzlement in connection with his handling of liquidation affairs of the defunct bank. Ross is at liberty under $25,000 bonds. He was under security bond of $50,000 and it was said that from $30,000 to $50,000 might be recovered by suits over assets involved in alleged deals by Ross. The Night and Day Bank failed in January, 1922, with losses to depositors of approximately $1,000,000.
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FOUR MORE INDICTMENTS AGAINST BANK RECEIVER Four additional indictments charging grand larceny and embezzlement of $19,192 were voted Thursday of last week by the St. Louis grand jury against Donald W. Ross, former special deputy finance commissioner in charge of the liquidation of the defunct Night and Day Bank. Ross previously was indicted on a charge of embezzling $28,500 of the depositors' money and is at liberty on $25,000 bond.
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Night and Day Bank Was a ‘One-Man’ Job, Too, Directors Said Following the closing of the Night and Day Bank, on January 6, 1921, members of the board of directors issued statements denying any knowledge of the real condition of the bank and stating that Meininger virtually had control of the institution. Judge William H. Allen of the St. Louis Court of Appeals, said at that time: ‘‘It came as a shock to me. There was a weekly statement to the board of directors and that was all we had to go by.’’ Phillip A. McDermott, a real estate dealer, said that he never personally examined the bank’s books, but that the board of directors had to judge its condition by the credit slips and reports submitted each week. These reports were submitted by Meininger. ‘‘It was a one-man job,’’ McDermott declared. Thomas A. Cooper, also a real estate dealer, said: ‘‘We directors knew nothing about the loans.’’ company and one of its principal stockholders, owning $20,000 worth of the $100,000 stock. According to James B. Miller, president of the company, Carr did not take an active part in the management of the concern. The books, according to Miller, were kept by C. R. Hathaway, secretary of the company. ‘‘I have known Carr quite well for eight or ten years,’’ Miller said today. ‘‘I first became acquainted with him when he helped organize the Chippewa Bank. ‘‘The stock that Carr now holds in the company he bought with cash. There are nine shareholders and we do our banking at the Chippewa Bank. Our company was begun with a new process as the basis of operation and we have not as yet paid any dividends. We are contemplating an enlargement of our plant, however, and are in excellent financial condition.’’ In response to a question, Miller said that he would not ask for Carr’s resignation from the directorate of the oil company. Miller asserted that he knew none of the facts surrounding the closing of the bank and declared that he would await developments before thinking of any action affecting Carr’s connection with the refining company. Other Interests. Another interest of Carr was the Monroe-Louisiana Carbon Company of which he was treasurer and holder of $75,000 worth of stock. The Monroe-Louisiana Company has a plant at Monroe, La., where gasoline is manufactured, and is incorporated for $3,000,000 under the laws of Delaware, with a charter of January 1920. Frank J. Binz, is president of the company and has offices in St. Louis. ‘‘Our stock has a fine rating and has paid a 1 per cent dividend each month for the last four months,’’ Binz said today. ‘‘I understand that Carr has assigned his stock in the company to the state finance commissioner. Nearly a half million dollars of our stock is paid up and about $25,000 of it is held by officers and directors of the Chippewa Bank other than Carr. ‘‘Carr was one of the promoters of our company but the present trouble will not affect our operations in the least. I have known Carr, I suppose, for 17 years and I know that he had invested in many oil and refining enterprises. $2,500 in Bank. Binz said that the Monroe-Louisiana Refining Company had a balance of about $2,500 on deposit when the bank was ordered closed yesterday. He said that the Binz Hide and Tallow Company, of which he is also president, had a larger balance. He declared that the bank had made no loans to the refining company. Binz lives at 3508 Crittenden street, the former home of Carr. He said that Carr traded the Crit-
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$750,000 Bank Thief Enjoys Liberty as Attorneys Argue (Special to The Daily Worker) ST. LOUIS, Mar. 26.-A. O. Meininger, cashier of the looted Night and Day Bank, charged with embezzling $750,000 of the bank's funds, convicted on one indictment and sentenced to five years in prison, cannot be tried on any of the remaining 47 indictments against him until the state supreme court has passed upon his appeal from the sentence, according to a decision just handed down by the supreme court. This may take years. The looted bank closed Jan. 6, 1922, financially ruining a large number of working people, savings depositors in the institution. The local Socialist party, and several labor bodies were among the losers when the bank closed its doors. None of the indicted officials have yet been locked up. H. H. Hoehnschild, president of the bank, had 16 indictments quashed on legal technicalities. Legal minds see many loopholes in the- law thru which Meininger might escape punishment entirely, in the event the supreme court reverses the lower court verdict. In any event, the case is expected to enjoy several years of peaceful slumber on the appeal. Unfortunate depositors in the bank have received payments of 50 per cent on their losses. More stringent state banking laws are being urged as a result of the fiasco of the Night and Day bank. Join the "I want to make THE
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MISSOURI State News Jefferson City.—Sheriff Gretlein, Cole County, will have to pay approximately $300 in expenses incurred in preparation for a hanging, which did not take place, unless the next legislature passes a relief appropriation for him. The money was expended in constructing a gallows in Jefferson City for the execution May 2 of John Lee, negro convict in the state penitentiary, sentenced to death for the murder of a cell mate. Thirty minutes before the time set for the execution, Gov. Hyde commuted the sentence to life imprisonment. Attorney General Barrett issued an opinion that the sheriff had no legal claim against either the state or Cole County. The opinion, written by Assistant Attorney-General Crowder, points out the sheriff may receive $125 for executing a death warrant, but can collect nothing when the warrant was not carried out. Among the bills incurred by Gretlein were the expenses of M. H. Hanna, of Epworth, Ill., who was brought here to assist in the execution. Hanna stated he already had officiated at 22 executions. Jefferson City.—Missourians will pay a state income tax in 1924 amounting to more than $3,000,000, according to estimates, while the total amount paid in 1923 was $2,867,727. The State Tax Commission announced that up to May 1 income tax assessments in St. Louis and Kansas City—the two largest cities—totaled $2,614,489, which is nearly as large as the entire amount collected last year. The increase in the income tax is due, to a great extent, it was said, by the new system of "checking up," carried on by two agents of the commission, provided for by the last legislature. It was added that much better reports are coming in, as a result of the checking up system and that the increase also is probably due, in a measure, to better business conditions in the state. Jefferson City.—State Veterinarian H. A. Wilson has announced that several cases of rabies, developing recently in live-stock herds in Davies and Livingston counties, have been checked without imposing quarantines. The appearance of the disease among the herds was said by Wilson to be due to coyotes attacking the cattle. Dr. Samuel Sheldon, of Trenton, formerly state veterinarian, is in charge of the work of stamping out the disease in the two counties. Under the law enacted in 1921, county courts are empowered to impose quarantines where they are considered necessary. Springfield.—Bonds totaling $106,000 have been furnished by the five officers of the closed Holland Bank of this city, indicted in 23 indictments returned by the grand jury, and their cases have been set for trial on Monday, June 2. In view of the fact that June 2 is only three weeks away, however, it is expected that all the cases will be continued until fall. E. L. Sanford, president of the institution, indicted four times for forgery, three times for accepting deposits in a failing bank, and once for embezzlement, furnished $40,000 bond, $5,000 on each charge. Marceline.—The Marceline Trust Company went into voluntary liquidation and its affairs were taken over by the First National Bank and the Marceline State Bank, leaving this town with two banking institutions. The trust company was insolvent, but depositors will lose nothing, the doors having been open all the time. Business depression is given as the reason for liquidation. State officials have been here and consummated the transfer. Jefferson City.—Competition for the $3,600,000 of Missouri soldier bonus bonds advertised recently for sale was keen and spirited and practically all of the leading banking houses and bond houses in the large cities of the East, as well as Chicago, St. Louis and Kansas City, were represented in the eleven syndicates that bid for the issue. All of the bids received by the State Board of Fund Commissioners were far beyond par and the successful bid was in excess of one and one-half per cent above par. Harrisburg.—The school patrons of the Harrisburg, Bethlehem, Powell, Robinson, Givens and Arnett school districts have voted to consolidate for the maintenance of a first-class, fully accredited high school, and another election will be called soon to vote a bond issue of $15,000 for the erection of a high school building at Harrisburg. Gallatin.—Damage estimated at $100,000 was done by a fire here that destroyed five buildings in the business section. The telephone exchange was damaged but the building saved. Marshall.—The Missouri River has cut in at another point west of Harmony, near Glasgow, and the water is within a few inches of the C. & A. tracks at that point. The officers of the road are again very much alarmed and efforts are being made to force the channel away from the bank. Jefferson City.—The Supreme Court has decided that Arthur O. Meininger, convicted wrecker of the Night and Day Bank of St. Louis, can be tried on additional charges growing out of the million-dollar failure of the institution in January, 1922. Lawton.—The Lawson Review has been sold by C. M. Marston to W. A. Black and wife, of Mansfield, who will conduct the same under the firm name of the Black Publishing Company. The Blacks have been in the newspaper business in Missouri for the past 20 years, having conducted papers at Mansfield, Kidder and Turrey. Black also served as postmaster at Mansfield. New Haven.—The $25,000 bond issue for local high school and auditorium carried by more than 4 to 1 in a warmly contested election. The vote was 332 for the proposition and 80 against. Springfield.—All traces of the run on the Union National Bank have disappeared, after money to meet withdrawal demands had poured into town by armored car, special train and airplane. Huge bags of cash, gathered at St. Louis, Kansas City and other towns, were rushed into Springfield. Statements of bank examiners and business men, who went over the books, that the bank was perfectly safe, failed to stem the rush of withdrawals. Crowds were lined up for blocks waiting for a chance to get their money. The run started on Saturday, May 10. Over Sunday, with banks closed in Kansas City and St. Louis, theatres, restaurants and other business houses with sums of money on hand over Sunday were scoured for cash. On Monday banks sent large sums to Springfield by special trains and airplane. The money was stacked on counters in plain sight of the crowds. After some hesitation the depositors concluded the bank was safe and started depositing the money which had been withdrawn in the two-day run. Springfield.—The Missouri State Fair, to be held at Sedalia, Aug. 16 to 23, will be on a far greater scale than ever before, it was announced by W. D. Smith, secretary, following the annual meeting of the State Fair Board, held at the Springfield Chamber of Commerce. Premiums for all events will total $75,000, it was announced. Of the premiums, the Missouri State Board of Agriculture, in session jointly with the Fair Board at the Springfield meeting, will offer $1,000 for the best county exhibit and $2,000 in additional prizes for second and lower places. The fair finances are in better condition than ever before, it was brought out at the board meeting. Two years ago the board was $9,000 in debt, and now it has $60,000 on deposit. The board also signed a contract to bring the Springfield Boy Scout Band of 250 pieces to the exposition this year. One of the big features will be an automobile race the final day of the fair for purses totaling $10,000. Springfield.—Harry Hendricks and his wife and their 8-month-old baby were killed at a private railway crossing 18 miles southwest of Springfield. The three were in a car making use of a private lane across the main line tracks of the Frisco, and apparently had started across the tracks without knowing of the approach of train No. 4, fast Frisco passenger train from Texas to St. Louis. The train struck the car just as it was in the middle of the track, and the bodies were hurled several feet. The car was reduced to scrap iron and kindling. The accident occurred one and a half miles east of Billings. Jefferson City.—The automobile registration department announced that in the three months of the 1924 registration year in Missouri, a total of 425,000 automobiles of all descriptions have already been licensed. Last year aproximately 470,000 cars were licensed and officials estimate that a total of about 550,000 cars will be registered this year. Following are the total of automobiles licensed at the main branch offices during the three months of the 1924 automobile registration year: Kansas City, 64,450; St. Louis, 113,504; St. Joseph, 15,600; Joplin, 10,650; Springfield, 8,000. Springfield.—The Farmers' State Bank of Fordland, which was closed a month ago on account of slow paper and frozen assets, has been reorganized and was opened for business, according to information received by bank examiners. The capital stock of the bank is $10,000 and the personnel of the officers is practically the same. When the bank was closed, J. A. G. Reynolds, State Bank Examiner, was placed in charge of the institution. Jefferson City.—The Thomas-Eggers Bank of Lamar, Barton County, with total resources of $191,363.53, was closed by the State Finance Department, according to an announcement by the department. Deputy State Finance Commissioner Walter E. Todd is in charge of the institution. Higginsville.—Mother's Day services, May 11, at the Confederate Home chapel here, were unique in the history of that institution. As the old soldiers entered the chapel a white flower was pinned on them and a wreath of white flowers was pinned on each mother. The auditorium was prettily decorated for the occasion. Thirty mothers with flower wreaths were grouped before Rev. W. H. Hargrove, the chaplain for the month, while in the center was the guest of honor, Mrs. L. F. Page, of Higginsville, 94 years old, who had been invited to the services. Springfield.—Mamie Bane, 18, and Gladys Schereil, 16, both of Springfield, were drowned in Finley River, near Riverdale Mills, in Christian County, when a boat of which they were occupants capsized. Five other persons who were in the boat at the time swam to the shore in safety. The bodies were recovered after a short search. Jefferson City.—Governor Hyde has issued a requisition upon the Governor of Kansas for the return to St. Joseph of Merl Boyles, alias Clarence Boyles, wanted there on a charge of grand larceny. Boyles is under arrest at Topeka, Kan. Jefferson City.—O. P. Caulfield of St. Louis, who has been Assistant State Treasurer since the beginning of the administration, will retire June 1 and will be succeeded by Paul W. McCall of Colecamp, Benton County. The resignation of Caulfield was tendered to Treasurer L. D. Thompson. McCall is at present cashier of the treasury. La Plata.—An election for the issuance of bonds for a $25,000 addition to the present school building was carried by forty-four votes. A proposition for $50,000 was lost this spring. Jefferson City.—Announcement was made by Attorney General Jesse W. Barrett that he has detailed a special representative to aid Prosecuting Attorney C. E. Brummal of Chariton County in unravelling the murder of the 14-year-old girl, Daisy Ashby, whose body was found recently near Glasgow. Marshall.—J. D. Baught, 68, a carpenter, committed suicide with a shotgun at the home of his nephew, eight miles south of Marshall. He had $504.15 in his pocket. Ill-health is believed to be the cause of the act.
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ANOTHER TERM FOR MEININGER. Cashier of Defunct St. Louis Bank Gets Five Years More. Union, Mo.—Another sentence was added to the string of prison terms imposed on Arthur O. Meininger, cashier of the defunct Night and Day Bank of St. Louis, when he was found guilty by a jury in circuit court here last week of having accepted deposits when he knew the bank was failing, and ordered to serve five years in the penitentiary. Previously he was given a 3-year term on a similar indictment. In May, 1923, he was sentenced to five years on a charge of embezzling funds of the bank.
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LAV VS. JUSTICE The action of Circuit Attorney Sidener, of St. Louis, in dismissing action against the officers and directors of the defunct Night and Day bank, which failed in St. Louis some three years ago, has caused considerable criticism. The men under indictment were men of high standing in St. Louis, but this ought not to excuse them if they were negligent or criminal in handling other people's money. Too many directors of banks are named for other reasons than for ability to direct. The banking laws require directors and officers and each has his duties and responsibilities; and if they allow the cashier to run the bank, merely signing such reports as the cashier prepares, they are criminally negligent if the cashier makes off with the funds, as was done in this case, where the loss ran into more than a million of dollars. The mere fact that this was possible shows a presumptive negligence of the officers, and they should be held for any loss to depositors from their negligence or ignorance, as the case might be. Certainly the depositors should not be forced to lose their savings merely because one of the officers was a crook and several others too negligent or too ignorant to perform their duties to the bank. One can hardly dismiss the suspicion that if these officers whoses cases were dismissed had been men of modest means and of mediocre attainments their cases might not have been dismissed. Al] men are supposed to be equal in the eyes of the law, and if this is not true, the law ceases to be respected as such. Justice can af. ford only one pair of scales.
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Many Measures Are Being Prepared Both Houses for Introduction. After nearly two weeks being taken selection mittees and settlement of the troubleproblem of taking the applicants clerkships, doorkeepers other the Senate and House Legislature turned to business and began bills the first eleccontest was filed in the House, James Republican, Greene filing proceedings unseat Warren, Democrat, Representative from the Second District Greene County. The contest was filed through David Peters of Cole County, Republican floor leader. Warren was elected over Glass by majority than Glass contestthe ground that Warren Ineligible candidate because he state county for the preceding his election. Republicans are decidedly the majority Elections Committee, with memberships out of Should the Democrats ousted from seats, Republican membership House would increased and the Democratic reduced to Includamong the great number of bills being drafted for early Introduction in the House Senate the following measures: enable to enact zoning laws through their own legislative bodies. Amending the St. Louis County law governing registration voters, correct omissions and enable registration of absentees. Providing for completion of the 1,500-mile primary system of state before any contracts are let for additional construction on secondary road construction. Establishing police force In Louis County and abolishing special deputy sheriff jobs now authorized law. Strengthening the banking !aws, placing greater safeguards around bank deposits and creasing the penalties for embezzlement bank funds. Seeking to check or solicitation damage for prosecution of offenders. workmen's compensation act, patterned aftthe act passed in 1921, which referendum to the people. Establishing an Intermediate reformatory for young men, graded between reformatory and the penitentiary. Taxing domestic Insurance companies of the state on capital stock surplus. circuit judges discretionary power to refuse bond defendants, convicted criminal on charges, pending appeal to the Supreme Court. Amendment of the state Income tax laws to place administration the Income tax under the State Tax Commission, and give the mission's agents authority to inspect Income returns. To require property subject taxes to be assessed value on January of each Instead of June at present, and that taxes be levied and collected the year the assessment is máde, instead of the following year, as under the present That of property gas companies, water companies, heating plants and similar utilities, now sessed locally, be returned for ment to the Tax Commission. RequirIng drivers of motor vehicles to licenses, and to undergo mental and physical tests to their qualifications to drive motor vehicle. Establishing state highway patrol, with police power, regular traffic and enforce the road laws on all state highIng the state "bone-dry" law, to make mandatory Jall or prison sentences for certain infractions. Establishing counwelfare agencies in each county. Community high school designed give children In rural districts the vantages of high school. Creation of budget system for the state. There will be another road contract let State Highway Engineer Piepmeier January 31, announced his office Jefferson City. The contracts be will cover 24 located in projects. counties, and small bridges. Classified. bids will be total of 21.861 miles of concrete roadway, miles gravel construction, and 25.289 miles of graded earth, the total mileage of highway construction called for under the letting being temporary writ of habeas corpus Issued City by Justice Graves of the Supreme Court bane admits bond in the sum of $5,000 Donald W. Ross, former state deputy finance commissioner in charge the assets the defunct Night and Day Bank Louis, who ordered to Jall Judge Anthony Ittof the Louis circuit court. Chief Justice Graves conditioned the bond for Ross upon the approval of Circuit Judge Taylor. The Priests of Pallas, an annual fall festival, traditional in Kansas City, ceased exist when the directors votdissolve the company organized for its presentation. The post office at Woodlandville, small Inland town ten miles northwest Colambia, was robbed of $92.28. All of the money in the money taken. but the stamp drawer was not molested. debating has been organized the Richmond High School and will soon arrange schedule of debates other schools Former Judge H. Baskett fell the slippery ice at Elsberry, breakshoulder and wrist. His age makes his recovery doubtful. The establishment state patrol force. with police for the regulation of curbspeeding and enforcement against overloading of motor trucks favored by the State Department, and bill to estabsuch patrol probably will be troduced in the legislautre during the present session. The patrol should be the control of the State Highway Commission, State Highway Engineer Piepmeier and police powers limited to supervision over all state roads outside the corporate limits of In placing such sysoperation, not more than would be needed at the outset, said, to patrol the roads the larger of the state. The number could be increased as more high type roads are completed in the state highway system. Such patrol would save the state many times the cost of the patrol by the present law fixing maximum weight of 14 tons for motor truck load, Piepmeter said. Overloadtrucks results in breaking down surface and foundation the Plepmeter continued, and comthe state to expend thousands dollars for repairs and maintenance, addition to expenditure required for average maintenance. The present law considheavy by the department, which favors or ton maximum, no definite maximum weight has been adopted for proposed amendments being drafted by the torneys in the department. Some of the state employes have collected that exceed their annual salaries, the says islative auditing committee appointed former Governor Hyde, in its report submitted to the House and the Senate. believe that there has been manifest in the last few years desire employes to cut down living in travel," the report comments. suggests that maximum daily traveling expense be fixed to check this thrifty tendency. The report further observes that in the automobile registration department state employes fees from the public as notaries. good practice," the report permit salaried employes of state to look around in their places employment for opportunities make money on the side, even though, in this case, the same fairly done, openly and above board." Clerical rors are blamed for difference in the revenue fund account dating back to for which the committee cannot account, difference of $127.11 between the auditor's voucher jackets and the warrants. At the request of Governor Baker, the Senate Jefferson City voted return all the vacation appointments submitted Governor before he retired from office, and also those that he failed to send in, which requested by the Secretary of State. When the Senate convened January 15 Governor Baker sent communication in which he "respectfully requested" that the appointments returned. motion offered by Senator Frank H. Farris, Democratic floor leader, that the Governor's quest be complied with, was carried without opposition. "This will afford opportunity for consideration the appointments," Governor Baker said, "and chance to confer with members of the Senate and others regarding the qualifications of such ap pointees." Embezzlement indictments were dismissed in circuit court at Lamar against Thomas Egger and his daughAnna, in connection with the fail. ure of Egger's private bank. which closed last May after 43 years' operation. Judge Thurman ruled, after argument, that there was nothing in Missouri law that would hold private banker guilty of embezzlement. As law stands, he held, whatever money the private banker has is his own, in the same that the money borrows is his own. On the suggestion of Judge Frey of the criminal division of the circuit court of St. Louis, Otto Jefferson City will in the future supply proper form for instruction in the trial of criminal cases, when asked to do so by the prosecuting torney, or circuit as the case may In his letter to the Attorney General, Judge Frey said that, having recently been transferred from civil criminal division his court, he therefore, interested in the forms for proper instruction, and that had not had the time nor opportunity to in touch with the rulings of the Supreme Court in several important cases. delegation of prominent Fulton went to recently the first ride on the new electric car that has been placed service the Fulton division of the Chicago and Alton Railroad between Mexico and Jefferson City and take the place one of the steam trains. Another large delegation met the car the Fulton station, the ception being similar to the old days when the pioneers welcomed the first train. Bert Jackson, 19 years old, burned to death at Rolla in fire that destroyed the home of Mrs. Annie Adms. Two sons, Frank and James, daughters of Mrs. Adams were severely burned. One daughter, Sarah, her hair nearly burned head. Jackson roomer. An increase the capital stock from $500,000 to $1,000,000 nounced at meeting the board directors the Sedalla Savings Loan Association. The association eleven years old and has never had loss or foreclosure.
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ROB THE TAXPAYERS A STEALAGE A Dishonest Scheme Is Defeated By Hot Fight Up By the Democrats Who Resented the Plot Exposed to Repay the Money Stolen By Donald JEFFERSON March of the warmdebates of the present session legislature came suddenly when, Representative Davidson, republican, Louis, offered an amendment providing for an appropriation from the general revenue fund of for the reimbursement of the depositors and stockholders of the defunct Night and Day Bank of St. Louis, funds stolen by one Donald Ross. deputy state finance commissioner. Immediately upon the reading of the amendment, democratic members launched bitter attack on what they deemed unjust expenditure of the people's money to cover up the dishonesty of state official." Dave Peters. republican floor leadled the fight for the appropriation. basing his argument on the fact that the supreme court of Missouri had held valid the payment of sum of money by the state to the stockholders and depositors of the Holland Banking Company of Springfield. Went Down In Merited Defeat Representative Lon Haymes, of Springfield, explained that the payment of the funds to the Green couninstitution was obligatory on the state, Inasmuch as the failing condition of the bank was known to the state officials at least eight months before the final collapse of the bank. During this time, the board of fund commissioners, composed of Attorney General Barrett and State Treasurer Thompson, refused to withdraw or protect the several hundreds of thousands of dollars of state money in the failing bank. The defalcation on the part of on the other the deliberate thievery state deputy finance commissionunexpected and unheralded, rather than an act of unwarranted and of duty on the part of several state officials who had been apprised of the impending disaster. The amendment went down under the caustic fire of attack from the democratic side of the chamber. despite the sturdy defense of floorleader Peters his cohorts. Moved To His Home Bank Approximately $160,000 of the personal savings of despositors and sources of stockholders of defunct Missouri banks has been moved from all sections of the state and deposited in the Canton Trust Company at Canton. Missouri, the personal, "hometown" bank of Finance Commissioner Frank C. Millspaugh, It was shown