Rensselaer Republican, Volume 26, Number 18, Rensselaer, Jasper County, 28 December 1893 — “WE ARE SEVEN.” [ARTICLE]

“WE ARE SEVEN.”

Wreckers of the Indianapolis National Bank In the Toils. The Federal Grand Jury Returns Indictments Against the Haughey*, the Collins, Bookkeeper Reed, R. B. F. Peirce and ExCashier Rexford. The Federal grand jury, Thursday, at Indianapolis, returned indictments against the wreckers of the Indianapolis N ationa Bank. In addition to the five men, Thoodore P. Flanghey, Schuyler C. Haughey, Percival B. Coffin, Francis A. Coffin and Albert S. Reed, who have been under bond since shortly after tho failure of the bank, two more arrests were made. The persons arrested wero Roßert B. F. Peirce and Edwin* E. Rexford. The warrants were issued at about 3 o’clock, and shortly after 4 o’clock United States Marshal Hawkins and Deputy United States Marshal* John Foley started out in search of their men. Cashier Rexford was found at the Merchants’ National Bank and was placed under arrest. He promptly gave bond in the sum of 15,000 with Messrs. Byram, Malott, Frenzel, fahnley and Fletcher as sureties. R. B. . Pierce was arrested at his office and gave bond with John S. Lazarus as surety. Seven men are now under bond for the wrecking of tho bank. Tho othor flvo, who had given bond at the time of their arrest, wore not required to make new bonds, but Judge Baker set Jan. 17 as the date when new bonds must be furnished It is supposed that no more than seven, indictments were returned. There were no other warrants sworn out and if others are to be arrested it was not apparently known by the officers who have that to do. The indictment against Theodore P. llaughoy is a voluminous document containing 592 closely type-written pages, or nearly 200.C0 ) words. There are 167 counts in tho indictment, and it contain! a complete history of the systematic looting of the bank, and brings out a number of facts heretofore unknown to the public of tho rottenness of tho institution of which HaUghey was the head. Theodoro P. Haughey is charged with misapplying the funds of tho bank, with making loans in excess of the 10 per eent. of the capita! stoik to single persons or companies, with making false entries in tho books in order to make it appear that persons were entitled to credits not due them, and for making false returns to the Comptroller of Currency in his report. The indictment against R. B. F. Pierce and the others charges collusion between themselves and with Haughey for the purpose of defrauding the bank, by Securing and aiding insolvent institutions to obtain loans, and also to check out money when the institutions had no funds to their credit and wero known by them to be Insolvent and worthless.