Rensselaer Semi-Weekly Republican, Volume 41, Number 17, Rensselaer, Jasper County, 10 November 1908 — Baldwin and Dague Indicted. [ARTICLE]

Baldwin and Dague Indicted.

A telegram from Logansp' rt h: s the following to say about the indictments . returned by the Newton grand jury against Baldwin & Dague, whose Goodland, Fowl r and Ambia banks were closed almost a year ago: judge Daniel P. Baldwin, of t is dtv, and William H. Dague, cf Kentland, have been indicted by the Newton county grand jury on two counts each, both charging em’ e zlement. The indictmeuts grew out of ULtjir connection with the Go dl iiid Bapk, which was closed by Sat 3 Auditor last' year. Jpitge Baldwin gave bunds in tee sum of •indiciment. bondsmen are A. G. Jenkins, of {hip city, anS ju|ge Darrotjh. dj KsuJJand. °vw4 A plfit -.*&***-• ftftdH? « a year ago. an Inspector from tjie State Auditor’s office fpup4 t£ e ftnancptl cp rdit?& fg he ,f th, lf <C» f.R: f°ra M Jrm v? fcjflu tu #J ml p r^‘ ty to bay off depositors. Jnvcstlga lop, . g&T ~r% Tims ‘lrsß’a ;£j%uk ”**• %, 5* is is showed that tie e t>’ o different bank’s and used thens in buying a large tract of timber land in Arkansas. A railroad was 1 pl.t through this vast acreage of timb X and tjie cost was far* gipa er than hap been expected. | money put into the scheme, and when the state Inspetor came around he fcup<J ft at the bat k had no security for the money tal eu I except the deeds to this timber land. He' ordered the banks closed. The ! receivers appointed went to Arkans s i and inspected ti is land, and found thaf it is valuable. They say that if permitted to proceed with bui ding the railroad and if allowed to cutT out the timber, they can soon pay every cent due depositors. But the depositors clamored for their money, and the land was ordered told. At the session of the g and jpry which just closed, several went before that body. The indictments are the result. Judge Baldwin’s he Ith has broken fast since the banks wer: closed: