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Show IMSiMlS GIVE MBS TO COURT; : SHERIFF WILL ACT ! After five weeks' Investigation, the grand jury appointed by ! the district judges of the Third district to investigate the affairs l ' the defunct Merchants hank, todav returned criminal indictments , against John I'ingree, president; George E. Ford, secretary, and . L. J. Hays, assistant cashier. o r The report f the grand jury was iubmilldlaJudge P. C. . Evans of the Third district court today by D. Carlos Kimball, fore- ; man of thff-jurv. While it is not stated specifically m the report, it is believed the indictments returned by the jurors were concurrec . in unanimously. . t The report follows: REPORT OF THE GRAND JURV. Ha find that It. P. flark. while presl-i dent of th Merchanta bank, groasly violated vio-lated the banking lusit of ti e slat of t-tah, and recklessly disregarded conser- vative hanking principle. He ka.ne.1 the , funds of the bank to Irresponsible P"n" and corporations willio.lt ,l',4ui,"'ir"".? m some ca.es without any. Home of llie loans made by Mr lata, through winch the hank ha sustained j K,r losses, he as apuirenlly l-l- onally n.teiesled In "','" "' '. ' I !pilllO.I that "e metl II I. of th ' Itiv. .-ou.uii.le- under Mr -larks sdm n- , islnilioi, sre deserving of ,' h". "' .-ensure for pern, at, eg the '!...,. 'ls.uk to ! disnf..l I" ur a repre-,";:,,!: repre-,";:,,!: num..-. Pr rer.-.l ...;mj Ihe Mer.-I.anl bai,k on Jsl.uaiv : ; ue r.nd that t in' rlidurrilndllurr.ii ""gain.rihe'.sV'k'o;! In,: lavnk. - tier Mr. .i.rk. "nrement w.s very f.r fr.s.i fowrli.g Ih' "' J i ea fsed by bad l-na n.a.l. by I h. bank ' T", ,,i r,,.ler th.- elirumelanr... w'e'fr.i ;'o .r,;; ! , ,( l,np..ame.,t of the capnal k j ;;;,;',n:r!..r,,7e'.d,nl:,l.Vr..i.. ; f-.r'.':r,.i M...-ha.... I.-..V bav- b,-.,, :;,;:;rrMV-':,:'rrc1r."..i."n.yh-'b'd'i,r:'V':r7rev: , J.h' ,o..n. are Tea. v lh T parnes i.n "" Kx.-essn and ! rZ, iTr. "irl. ' , is, rations in h.ch Messrs . .,,ge sums iron, the lank without lh. I,..,,, la-, nt- secured as re.iiiie.l by la c,;,,..,,,!, of ine bank have n sr- inliu-d to o-e the funds of the l.auK without paying any lo.ere.t th.lwr Kals and m laleading - Ha te.nents have been made h the bank oltl.ial. to he I. ink con, mission, r of this slale relatu . ! Ihe financial con. I. Hon of tre er-: er-: .iails-hnrrtr-s The executive eoinnol'ee 1 .lo not appear to have x..cied any d.-'.r.tion d.-'.r.tion in d.hh-iatlng uis.i. the kt. ti, .rt. la' lh hank. As. to the director, of the Merchants 'kink, olh.' than John 1'lngree si.d. I.;.-oiae K Kord. we csfinot t'a eeverel ! .ensure for their lack of (merest- and I their gross rrv'l rn and Inattention to llheir tcsponsihilily ss directors. Wm ar I unable to sai.sfv our niM.ds that the di-i di-i rectors, of lb" Merchants bank, oilier ttian th p-irt'es above menUoued, at guilty of criminal eondtict, and therefort baye refrained from Indicting these gentlemen. gen-tlemen. If It were In our power, however how-ever to g.ve a Judgment In lavor of tlie .lepoinlor of lh Merchant bank, growing grow-ing out of the negligent acts of Its dt-re.-lors. we would uiiheslls tlngly return such a verdict against lh director which would make them pav every dollar win. -II Ihe ileia.silors will lose In tin hank The h..nking law of le slat ol t'talt regarding Ihe crln'lllal 1 esppnalbll- , Hv of ihreclors Is very lna.le.na le. Vie find, however, tnat a condition existed ex-isted In the Merchants Iwnk which was especially unique It appears m Ihl melnln-rs of Ihe grand Jury thai Ihe lei - -.hunt bank as Indeed a one-man l.ans. and Ihst Ihe Issird of directors ol Ihe Merchants hank were only serving directors for the preslig which such a is.sltion gave them, or for the benefit which thev hoped to derive from Ills hank for being director. We l,a also taken into account tr reaching the conclusion that we hay Ir regard 10 Ihe directors of the Merchsntr hank other than I'mgree and V ord. thl the directors were entitled to place mo- or less confidence In the resDrl n statements which were furnished fhern In the condition and solvency of th hank l.y lis president. Johu I'mgree. and lt secretary. .:. org K. Ford, and the statement furnished by these gentlemen gentle-men to the riireclors always showed lh hsnk in a pros.erous and solvent condition: con-dition: thev even going so lul In 1KI. as to re.-oninienil that the bank go or s dividend paying basis snd representing represent-ing lo Ihe direct. .r that Ihe hank h made a profit, from which It could legally legal-ly pay dlv.len.1s. In sdd.tion to the retains re-tains ol Messrs Plngree and Kurd, rela-IHe rela-IHe 10 Ihe bank's condition, tlie director! of the bank also had the assurance ol the sinle bans commissioner of the sta of I wih that H e Merchanta bank was In a safe and solvent condition, so that Ir reaching our conclusions ss to the criminal crimi-nal responsibility of directors, other thsr -',,,g.ee and Ko.d. we are ol the otaolor ilhat the oiler .lirectors were entitled M pl.c. more or ! credence In the a.llv n.anag.n.ei.l of the kink and in th I nate.ii.-nts of the slale tsink commis-sioner commis-sioner wh.e duty It is primarily to pro-lie. pro-lie. -f the interests of the d IsisltOTB. We cannot too severely censure tlv nnis.reift absolute Uielflcienc of our atal! linking department, commencing wilt I Mr .' K. .Hazier, who reeiitedly caller i ih." k.nk's sllentlon to conditions whlt-l-lie.e,led Inmediate and drastic wttention I snd even going so far In September, 191 I in a report, of recomiiiending that an . assessment of M per cent he levied ' .gaunt the stockholders of the Merchsnts I I, ink and then falling wholly to follow , I up the suggestion which mad and. ' !wilh splsirtnt indifference, left th Mer- !. 'chants bank to work out its own affair.. , In law! the report of tl bank commis- . : sioner. 'bv rearwin of his re(e-ted threats and his failure to rcpilr th bank of. ; f.. lals to rests. nd to his threats and re- 'i-.esis, the stntements and Th criticism ' I of ll,e bank commissioner were regarded iss lirg of little or no ronseque-.ee. s , ihey w-H knew that h would not fulfill 'his threats The reports ef Hank om- t " (Continued n Mt 11. ' ' k i. REPORT OF GRAND (Continued from page l. mtssioner W. E. Rvans were likewise re-.oived re-.oived snd filed by the officials of the 0'srrharils hank, snd no effort was made ..Whe hank commissioner to follow up Trrta snd to see that his criticisms we7omplled with. I We have investigated the city jail of I slt Ta&ke City and the state prison, the I .Murray jail, the Garfield jail, the Mid-I Mid-I vnle jail and the county jail at Bingham. whl h we found to be clean, orderly and ! evidencing good management. We found the food to te clean and wholesome. We also Investigated the county jail of Rait Iike oeunty and t)t Mlngham city Jail. We found the Halt Iake county jatl to be tn a condition that needs immediate attention by thnete who have charge and supervision of the same, as we find that the portion of the jail which Is consigned especially to the prisoners to be in an un- j sanitary and unclean condition; that dust j and dirt had accumulated tn the cells and , on the bars snd windows, showing the 1 lack of thoronirh cleansing. We a!so found that the rAod st the county jail was not of the best quality. As to the UiiMChahi city jell, we rnnnot too severely censure. The jail was not lighted at all: the floor was covered with flirt snd debris of various kind, snd vomit on the floor? the bedding was filthy: in (act it wss the worst exhlMtton of dirt and filth that the grand jurors have evr e-n. We consider this j;td to he whollv unfit for an animal, to live In. let alone ti an individual who nugnt Ire unfortunate j enough to be Imi-rlMoned In such a plsce I; VV e also j tailed t he county rnftrmary j end county hfpHa.. hi.-h fimnd to I Iff in t very fine ond.tion. "LONELIEST BRITON. By Newspsper Enterprise Association. 1OXION. Dec. is. The loneliest man tn all the British rfsseMMfins has i.en- found. He's Mr. Krnest Iavies. s m mter ft tlte 'iverseas club and Pa- Pic league. He hves on jiti Island north of the tropics m Hie mid -fic. thouaands of mik's from Atia-a. Atia-a. There are only three other a men on the island and they are 'enchmeu. |
