Show I LYNCH ALLEGED TO BE AS APPRAISER I Counsel for John Pingree Indicates Policy Defense Will Till Adopt RECEIVER REVEALS ASSETS AND AD DEBTS Witness Reports Merchants Merchants' Bank Had Resources of Counsel fr John Pingree former ormer president of the defunct Merchants' Merchants bank indicated on one line of oC defense yesterday at tho the trial of or the banker before Jud Judge o Tobin in the district court courtIn courtIn In arguing r. r the admissibility of or evidence offered b by tho the tion lion Mr Ir Pingree's attorneys said that even een should some of tho the n assets sets prove to have been held at fictitious values alucs on the tho banks bank's books the act was that of or the board of or directors and not that of or the president Receiver Stephen H. H Lynch was wa on the tho stand most of ot the session and presented presented pre pro a a. list of ut assets and liabilities as shown by the books when he took charge of or the institution hank A J ct The assets according to the books amounted 10 to itemized thus Loans and discounts counts 96 Bonds and securities 98 Real estate l' l 16 1 O Overdrafts O Judgments and claims 1332 Banking house g Furniture and fixtures City warrants warrant Due from federal reserve rescue bank 6 65 Due from Crom other banks 68 Cash Cash Cash to res ers l account with Mahoney Co Liabilities Pre Presented The liabilities also amounting to according to the banks bank's hooks books when the receiver took charge charre were itemized as follows s Capital stock Surplus Undivided profits 8 l dividends Cash due other banks f 64 t l tSa Sa- Sa Savings deposits Individual deposits Demand certificates of or d de deposit db- db posit l Timo Time c certificates rl of or deposit 1556 Certified checks s Cashler's Cashiers checks Dills Bills rediscounted 15 13 23 Bills payable Di The re receiver was asked to give gi his estimate of oC y value lue of or the assets and liabilities lia lla- ha- ha and over o this question arose the dispute which resulted In an InI in indication In- In I of one line of or tho the defense Counsel for the defendant objected to any estimate of or values b by the receiver recel saying that he was not qualified ns as an expert to declare what the values wore ore despite his hib services since July las last t as ashead hea lead head of Cr the institution S I The prosecution said aid that the re receiver re- re rC 1 celver had accepted the banks bank's own valuation of or items upon which he had been unable to fix a valuation but the defendants defendant's counsel said that made his evidence all the more mora Inadmissible be because because because be- be cause of oC his admission that he ho had hadnot hadnot hadnot not formed ormed a conception c of f the value aluc I b by y his own knowledge an and analysis AIl All I District Attorney J McCarthy declared It t would be practically impossible to I find a receiver with hand first l knowledge knowledge knowl knowl- edge edSe of mining realty and other val val- I aI ues tics Attorney S. S A A. AKing King said that was no nc fault of or the defendant and that if the thc institution was to be proved Insolvent this must bo be done upon the testimony of expert witnesses who had har examined the properties and proved themselves competent to appraise the values I Court adjourned until Monday with I tho the dispute still und undecided and without without with with- out any indication as to wh whether ther the prosecution has other witnesses than the tho receiver to establish the status of or orthe the bank Security holdings Holding Reported The list o of bonds and other securities held b by the banks as read b by R er cel Lynch with values fixed b by the bank ban was American Falls Co bonds Salt Lake Lako Realty Owners Co I bonds bons Prince Consolidated Mines lInes Co bonds 8 00 Green River Irrigation district district district dis dis- bonds Central school district note Sevier school district warrant warrant war war- rant 1500 shares stock GijO Uvada U Copper Co stock shares Utah Asphalt II Hydrocarbon Co I shares Home Run Copper Copper Copper Cop Cop- per Co 25 2546 G 1250 shares Hotel Fifth East stock Eureka Standard Co sto stock k 2500 shares Fowler Mfg Co st stock Rose Pickle Pickle- Vinegar Costock Co stock stock 2162 ii Thirty shares Buffalo BrewIng Brewing Brew Brew- Ing Co stock International Land Co stock Block 20 shares Salt Butte Lako Lake Investment Co 2 OOOO I J shares South Fork lork Trout Co shares Pioche Coalition Coall- Coall tIn tion stock Cox Cov Bros billiard hall hail shares Chief Mining Co stock 2500 shares Walker 1 Mining Co stock 20 Central school district check and warrant shares Park Pari Parks City 1111 mines n e 8 i 2 S shares Sixes Mining Co Merchants barber barbor shop 1000 1032 shares Broadwater Mill stock 1100 shares Gold Strike BoI Bo- Bo I nan a Mining Co shares Buckley Buckle Mining Min Mm- In ing Co stock tock w OO I shares shares' Forest orest Dale In Ini Investment inVestment In- In i vestment C Co stock shares Billings Lumber Coal Coat Co Sullivan Plaster Block Co 27 Liberty bonds bonds- I |