Show I STATE T A If fR I I Arr I By Byra Ira ra C. C Tichenor S SOME OME additional interesting s reading and allegations in connection with the case of the defunct Merchants bank are contained contained con con- tamed in the answer of B. B Binnard Binnard Binnard Bin- Bin nard one of ot the directors to the comI complaint complaint com com- plaint pf Stephen H. H Lynch demanding the payment of as liability on three fifty-three shares of ot stock Mr Binnard Is one of or the bondsmen for John Pingree president of the bank whose trial now is pending with that of S Secretary George eorge E. E Ford and Assistant Cashier L. L J J. Hays as a re result result re- re sult suit of indictments recently returned by bythe bythe bythe the grand jury Mr Binnard last October or more than three months after the appoint appoint- ment merit of a receiver filed a complaint I declaring that Pingree Ford and O. O P. P Soule also a a director of ot the time bank deceived deceived de de- him in stating that the bank was solvent and In selling him stock of an Insolvent institution and and de demanding demanding de- de manding the return of or 2800 representing represent represent- ing twenty-eight twenty shares of or such stock remaining in his possession BINNARD MAKES CHARGES In the answer Just filed med to the re receivers receiver's receivers receiver's receivers re- re complaint Binnard repeats In effect the allegations contained in his own complaint filed in October but uses the thi expression of fraudulent misrepresentation mis mis- representation lon in describing the sale to him of three fifty-three shares or stock The document filed In behalf of Binnard by Pierce Critchlow Barrette Barrette Barrette Bar- Bar rette also contains criticism of the state bank commissioner although the name of that official does not appear INDORSED BY STATE It is admitted by Binnard flinnard that he was a director of the bank in January 1917 and the declaration is made that he diligently attended all meetings but did not discover until July 8 1918 the thelast thelast last day on which the bank did busness business business busi bus I ness that it was insolvent The answer declares that to the contrary during all such times defendant was Informed by bv said Pingree Ford and Soule and Indirectly by the bank commissioner of the state of Utah that said bank was wass I s solven and In a sound mound financial con con- That at various times during I said period said bank commissioner caused examinations of the condition I II of said bank to be made and reports I thereon to be submitted to the officers I of said bank and its board of directors I I which said reports and examinations disclosed the fact which defendant I II then believed and had the right to be believe be- be I I lieve was true that said raid bank banle was InI in ina ina a solvent condition I CALL IT SQUARE The fhe defendant int takes the time position that the owner or owners of the stock now held by him paid in 1914 1814 an assessment assessment assessment as- as I of 50 cents a share He concludes con con- eludes by offering to submit to a Judgment judgment judgment judg judg- ment of 2500 with Interest and costs and to be allowed a claim against the assets of the bank in fhe he sum of ot 2800 on account of the original sale made to him as he alleges through the fraudulent fraudulent fraudulent fraud fraud- misrepresentations of said Merchants Merchants Merchants Mer Mer- chants bank and the officers thereof In other words Mr Binnard is willI willIng willing will will- I ing to t take ke and call It square |