Jasper County Democrat, Volume 8, Number 4, Rensselaer, Jasper County, 29 April 1905 — SPECIAL GRAND JURY CALLED. [ARTICLE]

SPECIAL GRAND JURY CALLED.

Generally Believed to Take Up the McCoy Bank Matters and Reindict the Failed Bankers. Contrary to general expectation the grand jury drawn for this term of court was called Saturday, for Wednesday last. While no doubt other matters may be taken up, but it is generally understood that the McCoy bank matter is the principal thing to be looked into. It is said that E. B. Sellers, of Monticello, who has been engaged to look after the prosecution of the McCoys, thinks the indictments returned last September are not good, and that he desires to prepare the papers himself if he is to prosecute the cases. If he does this, and the indictments are held bad, of course no one but Mr. Sellers is to blame. The court, in instructing the grand jury, gave the usual general instructions and then called especial attention to Sec. 401, concerning public offenses, at page 674 of the acts of the last general assembly, which reads as follows:

If any banker, broker, or perzon doing a banking business, or any officer, agent or employe of any banking company or incorporated bank doing business in this state, shall fraudulently receive from any person or persons, firm, company or corporation, or from any agent .thereof. not indebted to such banker, broker, banking company or incorporated bank, any money, check, draft, bill of exchange, stocks bonds or other valuable thing which is transferable by delivery or endorsement, when at the time of receiving such deposit, such banker, broker, banking company or incorporated bank is insolvent, whereby the deposit so made shall be lost to the depositor, such banker, broker, officer, agent or employe so receiving such deposit shall be deemed guilty of embezzlement, and, on conviction, shall be fined in a sum double the value of the money or other valuable thing so embezzled and fraudulently taken, and. in addition thereto, shall be imprisoned in the state prison not less than one year nor more than three years. The failure, suspension or involuntary liquidation of such banker, broker, banking company or incorporated bank, within thirty days after the time of receiving such deposit, shall be prime facie evidence of an intent to defraud on the part of sueh banker, broker, officer, agent or employe of such banking company or incorporated bank. It would thus appear that the McCoy bank failure is to be gone into, and Mr. fellers is here and we understand is conducting the investigation. The grand jury is composed of Marion I. Adams and Wm. Clouse, of Marion tp ; Geo. B. Fox and Frank L. Peck, of Carpenter tp.; Elmer E. Pullins, of Gillam, and John Bingman, of Wheatfield. The court appointed Mr. Adams foreman. They were charged Wednesday at 1 p. m., and immediately went into session.