Jasper County Democrat, Volume 11, Number 72, Rensselaer, Jasper County, 10 February 1909 — TOM McCOY IS RELEASED [ARTICLE]

TOM McCOY IS RELEASED

Rensselaer Bank Wrecker Set Free Last Saturday.

WAS SENT UP IN JUNE 19D6

For From One to Three Years—-Max-imum Sentence Would Have Expired Next June, But His Attorneys Discover That “Good Time” Applies Under Law of 1883 and He Is Entitled to His Freedom. , Saturday's Michigan City News says: “Thomas J. McCoy, Rensselaer bank wrecker, has been ordered discharged from prison. The action came about through the discovery by his attorneys that alaw of 1883 is still in effect and that the “good time” applies to all cases now as it did then, including the McCoy case. Gov. Marshall has ordered Warden Reid to release McCoy.” Thus ends another chapter in the McCoy bank failure of April, 1904, which caused such a tremendous sensation all the state and practically made paupers of of the bank’s depositors. “Tom” and his father, Alfred McMCoy, now deceased, were tried for embezzlement of the bank funds in White county, and after a trial lasting some four or five weeks and having almost every unfortunate depositor In attendance as witnesses, Tom was found guilty in June, 1906, and given an indeterminate sentence of one to three years in the penitentiary at Michigan City. The elder McCoy was acquitted and with hi? wife went to Queen City, Mo., to live with their daughter, Mrs. Mattie A. Rinehart, where both have since died.

Strong efforts were made to get the board of parole to release Tom at the expiration of the minimfm sentence, but the board would not grant a parole, holding that the full sentence was little enough punishment for the crime of getting away wdth a quarter of a million of dollars. The bank books showed that Tom’s personal account was overdrawn $154,000 and the “old man’s” $82,000. It has beeif generally held that under the indeterminate sentence law’ one not entitled to “good behavior” time, which, in Tom’s case, would have reduced his time to 2 % years, and he would have been entitled to his release last December if allowed such reduction, as he has been a model prisoner.' It seems that it has now been discovered that the “good time” applies to interminate sentences as well as straight ones, and he is therefore released. ? The total liabilities in the McCoy failure was approximately $500,000, and dividends of 44 per cent have been paid the bank creditors. Another and a final dividend of 2 % to 3 per cent will probably be declared within another year. If correct that the “good time” applies to indeterminate sentences, Fred Gilman, the former Goodland banker, now serving sentence at Michigan City, will get out in a few months. Fred was sent up two years ago this month, and with good time allowance his three years will be up early next July.

the territory made dry by remqnstrance, a»d the disputed question of whether a township or ward, having participated in a county election, and the county having voted wet, can later come in with a remonstrance and make a township or ward dry, will be threshed out in the courts. Clintoc. county voted on the option proposition yesterday, and it was expected the akys would win.