Rensselaer Semi-Weekly Republican, Volume 41, Number 79, Rensselaer, Jasper County, 22 June 1909 — TOM McCOY IS NOW A FREE MAN [ARTICLE]

TOM McCOY IS NOW A FREE MAN

Released From Prison Friday After Serving Three Years For Bank Wrecking. . ■ -'V? * » Thomas J. McCoy, the ex-Renas** laer banker, was released from the state prison here at 8 o’clock his morning and was met at the prison gates by Mrs. McCoy, who came over, from Chicago last night. She made the trip over the South Shore route and returned to Chicago that way. Mr. and Mrs. McCoy will leave at once for a western trip, expecting US visit various points of Interest, including the Alaska-Yukon exposition at Seattle, Wadh. Enroute to the coast, however, they will stop at points in Colorado and after visiting the exposition will go to Texas, where Mr. McCoy may engage in some business enterprise. Reports to the effect that McCoy would go- to Chicago and engage in live stock business originated in ■ a reporter’s mind and the ex-banker likely never dreamed of it, —Michigan City News. I The release of McCoy brings to a close one of the mokt celebrated bank wrecking cases to the history of Indiana. The McCoy bank failed to open its doors one morning in April, 1904* and tater developments disclosed that nearly $250*000 of the depositor*’ mdney had been squandered. “Tom’* and his father, Alfred McCoy, now deceased, were later arrested on grand jury indictments charging embezzlement. The trial took place at Movticello and lasted four or five weeks. 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 MoCoy was acquitted but later plead guilty to two similar charges and was fined. After his trial he made Ws home with his daughter, Mrs. Mattie A. Rinehart, at Queen City, Mo., and his death followed shortly after the death of his wife. About fifteen thousand dollars of their once vast fortune was left by M?sL "McCoy upon ‘her death. After Tom’s imprisonment strong efforts were made to get the board of parole to release him at the expiration of the minimum sentence, but the board would not grant a parole, holding that the full sentence was little enough punishment for the crime of getting away with a quarter of a million of money. The bank books showed that Tom’s personal account was overdrawn $154,000 and the elder McCoy's $82,000. The A. McCoy estate nearly paid out in the final settlement; Tom’s paid only two or three per cent and the estate of A. McCoy ft Co. will pay about 47% per cent when the final payment of dividends are made in a short time. Tom McCoy’s term began June 19, 1906, although he was not taken to prison until June 21st. Now that he is released he will probably locate in Chicago, where his wife has been living for some time, but this is uncertain. He still owns his wrecked house here, which was destroyed by unknown persons with dynamite shortly, after the bank closed.