Jasper County Democrat, Volume 9, Number 10, Rensselaer, Jasper County, 9 June 1906 — STATE RESTS. [ARTICLE]

STATE RESTS.

Defense In McCoy Case Begun Wednesday. FIFTH WEEK OF TRIAL AT END, And Probably Two Weeks Flore Will Be Consumed in the Famous Bank-Wrecking Case. The State rested its case Wednesday noon in the McCoy trial after about two days’ examination of J. H. Chapman, the trustee of the bankrupts. Following are the more interesting clippings from the daily report of the trial by W. H. Blodgett in the Indianapolis News: The contention of the State is that both the defendants are guilty, but the attorneys admit that the jury can acquit either of the defendants, or both, or can convict both. Alfred McCoy can go free and bis son be sent to prison, or Thomas J. McCoy can be freed and bis father punished. The State contends that it has shown the bank was hopelessly insolvent when James H. Cox made his deposit of 148. The State has shown that there were £250,000 in certificates of deposit, $114,000 in deposits and to pay that enm on demand there was a little more than S4OO in the bank. The testimony produced by the State shows that the estate of Thomas J. McCoy will pay about 5 cents on the dollar. The estate of Alfred McCoy has paid 52| cents, and it is expected to pay 2| cents more, making a total of 55 cents on the dollar. The estate of A. McCoy & Co. has paid 30 cents and it is expected to pay 10 cents more, making 40 cents on the dollar. “tom” m’cgy’s overdrafts. The State introduced as evidence the record of the overdrafts of Alfred and Thomas J. McCoy. To give them by items would be too long, but the following is a sample of the way T. J. McCoy drew money from the bank: December 1.1902 » 73 40 December 2 18 Cl December X 50 25 December 14 93 51 December 5. 164 09 December 8 60 85 December 10 110 25 December 15 2 88 December 16 46 50 December 18..... 1 25 December 22. .... 50 00 December 26 100 00 December 31 3 00 . Total 8777 66 This is an average of more than $25 a day, including Sundays, for the month of December. The total overdraft of T. J. McCoy in the bank of A. McCoy & Co. from 1894 to the time the bank closed was more than $152,000, making an average of about $15,000 a year that he drew from the bank. The evidence introduced by the State showed that T. J. McCoy did a good business with the banking firm of A. McCoy <fc Co, the last month the bank existed. March 30, 1904, his overdrafts in the bank amounted to 1151,714.02, and though he did not have a dollar in the bank, he drew checks as follows: April 1 » 57 35 April 4 81 35 April 5 155 67 April 6 11l 26 April 7 10 58 April 9 8145 April 11 35 28 April 12 1 00 April 13 129 50 April 15 15 00 April 15 156 00 Total 8834 04 This is an average of $52 a day for the sixteen days the bank lived in April: AVERAGE OF $37 DAY. On April 1, 1904, Afred McCoy had an overdraft in the bank of more than $50,000, yet his checks were honored as follows: April 1 $l4B 50 April 2 56 78 April 4 49 50 April 6 16 34 April 7 268 95 Aprils 477 April 18 10 00 April 14 * 5 00 April 15 10 00 April 16 25 00 Or more than{s37 a day for the sixteen days and the overdraft charged against him at that time

was $50,599.66. The overdraft of Alfred and T. J. McCoy at the same time was $4,330.82. MR. CHAPMAN’S TESTIMONY. Mr. Chapman detailed how he had searched the bank, the private boxes, etc., for notes given by Delos Thompson, by T. J. McCoy and Delps Thompson, W. A. Rinehart, the Rensselaer Stock Farm Company—all of these amounted to over $40,000, and could not be found. These notes would have been a valuable asset for the creditors. The testimony of Mr. Chapman revealed a remarkable loose manner of conducting a bank. The last daily statement, the witness said, stated that the cash on hand amounted to more than $5,000, but that statement was not correct, as far as actual money was concerned. The witness said that among the items credited on the book as cash was a tax receipt for $1,225.32. Some of the items extended back to 1903. There were notes of C. C. Starr for $lO and J. W. Childers for $lO which the witness said were worthless; several checks signed by A. McCoy & Co.;a receipted coal bill for $137.49, a note signed “Brown” for $91.50, a S2O bill, a receipt of E. L. Hollingsworth for $458.46; one of Charles G. Spitler’s checks for sls. Mr. Chapman was permitted to say that the “cash” he found in the bank realized from SBOO to sl,000 instead of more than $5,000. The records in the case show that Mrs. Alfred McCoy received something over SIB,OOO and Mrs. T. J. McCoy a little more than SII,OOO, and that there is still a small amount due from the different estates. Jasper county will pay E. B. Sellers SI,OOO for his services in prosecuting the McCoys. But the law gives Prosecutor Thomas, ot this county, $5 in case of a conviction, and if he is large-hearted he will divide this fee with Prosecutor Graves, of Morocco and Deputy Prosecutor Leopold, of Rensselaer. Mr. Sellers has already spent a part of his promised SI,OOO in expenses for the State. While Mr. Sellers has taken the lead in the prosecution, a large amount of work has been done by the others and the intention is to ask the county council of Jasper county to make an appropriation for them commensurate with their services. DEFENSE BEGINS. Mr. Haywood made the opening statement for the defense, and of course extolled the virtues of the defendants and denounced as “contemptible villains” those depositors who lost their hard-earned money in the McCoy “sheepskin bank,” and who had been called upon by the State to testify as to the amount of their losses and the value of the landed assets of these political bankers. The first witness called by the defense was Wm. Hill, of Madison, the present owner or 1870 acres of the Jordan tp. lands. Mr. Hill testified that the land was worth S7O to $75 per acre, while Leroy Templeton, of Indianapolis, the former well known Populist leader of Indiana, and who stated that he was an intimate friend of “Old Mac” for a great many years, said Jhe land was worth SBS per acre. The witnesses for the State testified that it was worth S6O per acre, and it is likely that Mr. Hill will hunt about for some time before he finds a buyer at SBS an acre. John A. Williams, who has lived on the McCoy lands for several years, testified that the Jordan tp. land was worth SBO per acre, which is still some S44,(XX) less than what the McCoy’s claimed it was worth in their schedule of assets. M. J. Ahlgrim of Shelby, who used to take care of “Tom s” gasoline launch, said the timber on “Jerry’s” Island was worth SI,OOO. R. B. Nicholson who lived on the Gillam tp., land, said it was worth S7O per acre, which is about S2O per acre more than the McCoys ever said it was worth. J. M. McDonald of Knox, formerly associated with the McCoys under the firm name of McCoy &“ McDonald, said the Gillarq land was worth S6O per acre and the Jordan land $75 per acre. T. H. Robinson of this city, who was on the McCoys’ bond, said the Gillam land was worth S6O per acre and the Barkley land was worth SSO per acre. J. F. Irwin, another bondsman, said the Jordan land was worth SBO eir acre, and tne Fair Oaks or nion tp., land $25 per acre,

A number of other withesses for the defense have been examined up to this writing, and it is thought that all of the evidence will be in next week. It is not known just bow much time will be taken up in the argument, bnt it promises to be quite lengthy, and it will likely be ten days or two weeks before the case is given to the jury.