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Show TRUST COM IS ' iiELDFOEIlljl Court Decision Declares tht Company's Liability foi Advance to Bank. CHICAGO, duly J. The Central Tru,1 Comjiany of lliinois. a I'lnciico haul;, was held, liable for l ,2.r0.0il0 which it advanced lo the dofuui-t l.a Salle Street ' Trust & Savings bank in J!M2, when the bank was vhanyed from a national to a state institution, in a decision today to-day by .Imi.no Frederick A. Smith of the circuit court. The decisioo was given in a suit brought bv William C. 'Niblnvk, receiver, for the institution of which William Lorimer was president. Mr. Nildnek declai'dl tho entire capital cap-ital stock of the La Snlle Street bank was beint; illegally held by tho Central Trust company. The law requires the capital and -Mr-plus of a state bank to be paid in carw Ai'eoriling 1" testimony at the trial ofN Lorimer on charges of irregularities in connection with the failure of the L:i Salle Street bank, Air. Lorimer at tho time the institution became a etate bank asked Charles G. Dawes, president of the I'eutral Trust, to cash a check for il.2i-ii.00'). This, according to tha testimon'( t'awes agreed to do. The check drawn dratvn on the La Salle Street hank was cashed. Al r. Lorimer gave the money to the state bank examiner, ex-aminer, who returned it to him w;Jh a certificate of the bank's interpolation as a slate bank. Air. Lorimer then returned re-turned the money to tho Central Trust, received his check and the La Salle Street Trust & Savings bank v.as organized. or-ganized. This transaction was held hv .lodge Smith to be illegal, and the Central Cen-tral Trust was held liable. |