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Show COUNSEL li TANGLE OVER BM LETTERS Lectures Showing Condition Condi-tion of Merchants Institution Institu-tion Finally Introduced. Over the oft-repeated protest of counsel coun-sel for the defense, correspondence, In which tho condition of the affairs of the Merchants bank was deplored by the stato bank examiner as lone ago as 19J.4, was read into the record yesterday In the tTial of John Pingree, formerly president presi-dent of the bank, on a charge of knowingly know-ingly accepting deposits in an Insolvent institution. Counsel for the defense demanded that C. A. Glazier, writer of some of the letters let-ters during his term as state bank examiner, ex-aminer, should be called In connection with their introduction. District Attorney Attor-ney "Wilson McCarthy explained that the letters were offered not to establish the condition of the bank's finances, but to provo that warning of the danger to the Institution had been had by the defendant. de-fendant. In a letter in 1016 Mr. Glazier advised that there was pressing need of a 50 per cent assessment on the stock of the institution in-stitution to finance the retirement of dangerous paper. fciotne of the letters were admitted only in part, paragraphs being: stricken on tho motion of counsel for the defendant. During most of the morning the Jury was excused for arguments on the admissibility admissi-bility of tho offered documentary evidence evi-dence were heard by the court. "W. K. Edmunds, auditor, is still on the witness wit-ness stand' on direct examination. ' In a letter of Juno 30, 1914. Mr. Glazier ; rcf-irred (o a loan of $7V01 .6fi. glvfng 'warning that it must be brought within the Irgal limit. lie urged also the wiping out of a loan of $22, 828.0 to the Utah Wool Pulling: company and warned of probable loss in connection with $22,-8-3.71 owing from the Day Brieton Mining Min-ing company, $UG6.4o from J. J. Dwyer, $27oL' . lit from A. J. Dut ton and others Of a total of $741,180.76 in loans carried car-ried by tho bank at that time, the commissioner com-missioner wrote in the letter In question that he ha I'hecUed $tU,(WU as bad and HiJ.VkiO as doubtful paper. Tho letter voiced criticism . of tho involvement of officials of the bank in heavy loans and warned that the condition must be enr-rcctttd. enr-rcctttd. The letter carried warning that, unless something was done toward ac-compli:-hiii(-r liquidation of some of the lo.-i ns to which the bank, examiner objected, ob-jected, he would be under tho necesKity of calling mutters to the attention of the attorney general. |