12703. Merchants Loan & Trust Company (Paterson, NJ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
July 9, 1877
Location
Paterson, New Jersey (40.917, -74.172)

Metadata

Model
gpt-5-mini
Short Digest
7d3cf76985b35041

Response Measures

None

Description

The articles consistently report that the Merchants' Loan and Trust Company of Paterson, N.J. suspended on July 9, 1877 due to business depression and injudicious investments/purchases of paper and real estate. A receiver was sought/appointed and the institution remained defunct (receivership proceedings, indictments of officers followed). OCR variants of the city/name appear (Patterson), corrected to Paterson, NJ.

Events (4)
1. July 9, 1877 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Business depression and injudicious purchases of paper and investments in real estate (articles state these as causes of the suspension).
Newspaper Excerpt
The Merchants' Loan and Trust Company suspended today. ... Cause of the suspension, business depression, injudicious purchases of paper and investments in real estate.
Source
newspapers
2. July 10, 1877 Receivership
Newspaper Excerpt
Application has been made by the directors for a receiver.
Source
newspapers
3. October 3, 1877 Other
Newspaper Excerpt
The grand jury has indicted J. F. Preston, cashier of the suspended Merchants' Loan & Trust Co., for illegally disposing of the assets of the company after it closed.
Source
newspapers
4. October 26, 1877 Receivership
Newspaper Excerpt
The chancellor has removed J. C. Todd from the receivership of the Merchants Loan and Trust company ... and appointed Robert S. Hughes.
Source
newspapers

Newspaper Articles (21)
1. July 10, 1877 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, July 10, 1877

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1 HERE AND THERE. I t A Hostile Meeting Between the Cath9 olies and Orangement Imminent in Montreal. I : BOSTON, July 9.-A Montreal disI patch to the Journal says there is ) every prospect of an exciting time / there on Thursday, when the Orange. I men have their customary annual pa4 rade. The Orangement are to come s down from Canada West in large num, bers, to take part in the procession, s which the Montreal Orangement have w decided on having at all hazards. s Nightly drill are going on, and have , been for weeks past in different parts of the city, and fire-arms are being put in order by the opposite party. Indir cations of a hostile meeting between ) the two bodles and bloodshed are numerous, notwithstanding the admoni: tions of advice given both parties by the authorities and elergy. Fire Record. LIVERPOOL, July 9.-The Rotunda theater has been destroyed by fire. DENVER, July 9.-A fire at Delnonte, Colorado, consumed two squares, including the postoffice and five builds ing, valued at $200,000. The Politicians of Brooklyn Excited Over Reductions of Salaries. NEW YORK, July 9.-The threatened discharge, reduction of salary and reorganization of the department of the board of city works, long talked about, were made by the commissioners this morning. Their action caused great excitement among politicians. New Jersey Trust Company Gone UP the Spout. PATTERSON, N.J., July 9.-The Merchants' Loan and Trust Company has i suspended. The depositors are prob. I ably safe. Speculators lose heavily. Another Important Marine Items to Texas Farmers. ) HAVANA, July 9.-The City of Vera I Cruz, hence for New York, about fifty I out, broke her shaft and returned this morning. She will be delayed ten days for repairs. A Town Leveled by a Cyclone in Wisconsin. MILWAUKEE, July 9.-A whirlwind struck Pensauken, Sunday, leaving but three houses. Six persons are known to be killed, twenty wounded and five missing. Death of An Old Railroad Man. ELIZABETH, N.J., July 9.-Colonel J. W. Woodruff, the oldest officer of the New York division of the Penn. sylvania railroad died to-day of paralysia.

2. July 10, 1877 The Sun New York, NY
Article from The Sun, July 10, 1877

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Trust Company Closes Its Doors. PATERSON. July 9.-The Merchants' Loan and Trust Company suspended today The liabilities to depositors amount to $15,000 perfectly secured The stock hold is will realize about filty percent. Application has been made by the directors for a receiver The company was hartered as State institution about five Connecticut capitalists are largely interested in it The cause of the suspension WITH busitessdepres.on insudiclous purchases of paper. and investment 111 runi The capital was $200,000.

3. July 10, 1877 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 10, 1877

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Business Embarrassments. PATERSON, N. J., July 9.-The Mer. chants' Loan and Trust Company suspended to-day. Depositors probably safe. The stockholders will lose heavily. The capital of the company was $200,000. Cause of the suspension, business depression, injudicious purchases of paper and investments in real estate. PATERSON, July 9.-The liabilities of the Merchants' Loan and Trust Company to the depositors is $45,000. Secured stockholders will realize fifty cents on the dollar.

4. July 10, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, July 10, 1877

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Bank Suspension PATTERSON, N. J., July 9.-The - Merchants Loan and Trust Company sus pended to-day. The depositors will probably be safe. The stockholders will loose beavily. The capital of the company is $200,000. The cause of the suspension IS business depressi-n. injudicious purchases of paper and investments in real estate.

5. July 10, 1877 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, July 10, 1877

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NEW JERSEY. Suspension. PATTERSON, July 9. The Merchants' Loan and Trust Company suspended to-day. Liabilities not stated. Depositors probably are safe. Stock holders will lose heavily. The capital was $200,000. Cause, business depression, injudicious purchases on paper, and investments. Death. ELIZABETH, July 9. Col. J. W. Woodruff, the oldest officer in New York division of the Pennsylvania Railroad, died from paralysis yesterday.

6. July 10, 1877 Evening Star Washington, DC
Article from Evening Star, July 10, 1877

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19 Admiral Constantin Canaris, President of the new Greek Cabinet, ranks with such aged and vigorous men as Thiers and Gortschakoff. He counts 87 years. The latest is a fish pole which doubles up like a prayer book and has a hollow gold clasp to hold bait. It is much used by Presbyterians at Newburg. Capt. Howgate's expedition is announced to sail from New-London, Conn, on the 20th inst. in the steamer Folence, commanded by Capt. Tyson, late of the Polaris. n The Merchants' Loan and Trust Company of Paterson, N. J., has suspended. The liabilities to depositors amount to $45,000, and are secured. The stockholders will lose fifty per cent. Oakley S. Barker, grand-son of Commodore Vanderbilt. was indicted in New York yesterday for stealing jewelry from a young woman. He was arraigned, pleaded not guilty and was remanded. g It is said that Jefferson Davis, in his forthcoming book, will assail Gen. Joe Johnston with severity, and hold him responsible for the failure of the confederates to seize Washington after the victory at Bull Run. The Parliament of Norway refuses an appropriation to sustain its nuetrality in the pending Eastern war on the ground that it is unnecessary. Sweden had already voted two million crowns for that purpose. Though both countries are under one government, they have, like Austria and Hungary, separate budgets.

7. August 9, 1877 New-York Tribune New York, NY
Article from New-York Tribune, August 9, 1877

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DRAWING FROM A FAILING COMPANY. The cash account of the Merchants' Loan and Trust Company of Paterson, N. J., is short about $26,000. This institution collapsed on July 9. The next morning the teller of the bank made out a paper showing the amount on deposit to be $71,000. The Treasurer, J. F. Preston, made a statement showing it to be $45,000. This difference in the two statements could not be accounted for by the Receiver of the corporation. J. C. Todd. It has now come to light that a day or two before the suspension of the company some of the depositors were allowed to draw out various sums of mone y, which aggregated $26,000. It is claimed that they turned over to the bank stock of the Paterson Fire Insurance Company. which has since gone into the hands of a Receiver, claiming that the bank had agreed to purchase 80 much of the insurance company's stock, which they held in place of their share of the assets of the banking institution. It is not yet known who the perbe sons directly concerned are. but an investigation will made at once. It Is reported that some of the directors of the bank were engaged in this transaction. The Treasurer, Mr. Preston, claims that he did not know that it was an illegal proceeding to allow the money to be withdrawn in this way.

8. October 4, 1877 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, October 4, 1877

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TELEGRAPHIC ICKS. A fire in Joplin, Mo., on Tuesday, destroyed a block of business houses. Large numbers of refugees are dying daily from typhus fever around Tirnova. The California rifle team arrived at Frisco last night, and were received by the city military companies and an enthusiastic crowd of citizens. A strong detachment of Bashi Bazouks who attempted to enter Montenegro near Sutsrian, were repulsed, on Monday, after several hours sanguinary fighting. By the collision near Clyde, N. Y., of two freight trains, John Kenny, engineer, of Rochester, was killed and James Bennett seriously injured. One train is total wreck. Misplaced switch. The grand jury at Patterson, N. J., has indicted J. F. Priston, cashier of the suspended Merchants' Loan & Trust company, for illegally disposing of the assets of the company after it closed.

9. October 4, 1877 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 4, 1877

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A Bank Cashier Indicted. PATTERSON, N.J., October 3.-It is understood that the grand jury has indicted J. F. Preston, Cashier of the suspended Mercbants' Loan & Trust Co., for illegally disposing of the assets of the company after it closed. Preston claims that his motives were to protect the best friends of the institution.

10. October 4, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, October 4, 1877

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Bank Officer Indicted. PATTERSON, N. J., October 3-It is understood that the grand jury bas indieted J. F. Preston, cashier of the suspended Merchant's Loan and Trust Company, for illegally disposing of the assets of the company alter it closed Preston claims that his motives were to protect the best friends of the institution

11. October 4, 1877 Evening Star Washington, DC
Article from Evening Star, October 4, 1877

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# THE COURTS. POLICE COURT-Judge Snell. To.day, Joseph Ball, larceny of a wheelbarrow from Gassaway Green; 310 and costs. August York, assault on Henry Clark; 85 and costs. Thomas Kidwell and Jos Clark.assault on James T. Ferry. Kidwell fined $25 and costs. James Sheris forfeited $9 coilateral for petit larceny. John Williams, William Thompson, John Kelly, Anna Beeves, Morris Gainey and William Kyan were sent down as vagrants. Thomas Cassin. Martha Jones, Augustus York, David Butler and Lenoris Hamilton were fined 5 each for profanity Oscar Biakely. 85 for throwing stones. Lewis Watts and E. J. Burch paid $5 each for driving through a funeral profession. THE COFFIN CASE. In the case against John E. Nelson, charged with stealing a child's coffin, grave clothing, and a large wooden cross, from Samuel G. Sparrow, whose child Ec had been engaged to bury, before the court yesterday, further witnesses were heard this morning, showing that the coffin, &c, were buried at Payne's cemetery with the corpse of the child; but to make assurance doubly sure, the court continued the case one week in order to give Sparrow time to disinter the coffin and ascertain the facts. James Fitzgerald; assault on George Tyler; 83. Catherine Quiulan, assault on Catherine Foley; $100 bonds to keep the peace. COURT IN GENERAL TERM. To-day, Judges Cartter, Wylie and Humphreys: Rider agt. Morsell; argued and submitted. Booker agt. Stewart; argued and submitted. Keefe agt; Malone; argued. The Homeopathic Medical Society of Pennsylvania met at Philadelphia yesterday in annual session. Hon. David Goodsell has been chosen chairman of the Oregon republican state convention, in place of George A. Steel, resigned. West Virginia papers are aroused by a projected extra session of the state legislature, and are energetically protesting against it. California hop-growers are employing boys and girls as pickers in the place of Chinese, and report that the experiment is a success. It is asserted that fully 4,000 negroes favoring the Liberian emigration scheme attended a recent meeting to further it in Shreveport, La. The late Michael Lynch, of Virginia. Nev., bequeathed $5,000 to his priest and $8,000 to various catholic benevolent organizations in that city. The railroads in Minnesota are unable to carry her crops to market fast enough. All the elevators and warehouses are glutted. James F. Preston, cashier of the suspended Merchants' Loan and Trust Company at Paterson, N. J., has been indicted for illegally disposing of the assets of the company.

12. October 17, 1877 The Sun New York, NY
Article from The Sun, October 17, 1877

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Applying for 12 New Receiver. PATERSON. Oct. 16.-Onapplication to the ViceChancellor, all order was issued today to show cause on Monday next why a new receiver. vice J. C. Todd, should not be appointed for the Merchants' Loan and Trust Company.

13. October 19, 1877 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, October 19, 1877

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THE EAST. The remains of the late Archbishop Bayley were buried at Emmettsburg, Md., on the 9th. The steamship England was seized at New York on the 9th by Collector Arthur on the charge of being connected with silk-smuggling frauds. The Susquehanna Coal Company's men at Nanticoke, Pa., resume work at 10 per cent. advance. Ex-Gov. Hendricks arrived at New York from Europe on the 9th. The Philadelphia Permanent Exhibition Company is insolvent and has appointed a committee to treat with its creditors, who are said to be willing to accept 50 per cent. Tweed's statement submitted to Atty.Gen. Fairchild a short time ago is made public. It contains the name of twenty-one Senators paid for votes or silence. An Oil City dispatch of the 10th says a 2,000-barrel well has been struck in the Bullion district. The Baltimore & Ohio Railroad Company has declared a 3 per cent. dividend on the main stemstock, This, with the former dividend of 5 per cent., makes 8 per cent. for the year 1877. The remains of Gen. Custer were interred at West Point on the 10th with military hon ors. The Federal Bank, of Allegheny City, Pa., suspended payment on the 10th. The suspension appears to be due to the fact that depositors wanted their money. The Lehigh Valley miners refuse to resnine work at less than 10 per cent. advance. The President, Secretary McCrary and Atty-Gen. Devens visited the fair at Frederick, Md., on the 11th, and met with a hearty reception, The Treasurer and Directors of the Merchants' Loan and Trust Company, of Paterson, N.J., have been indicted for conspiracy for removing the assets of the company after failure. A counterfeit fifty-dollar bill on the Central National Bank, of New York, has appeared. Tweed denies the substance of his statetrecently submitted to the Attorney-General in which he named many members of the Senate whom he had bought. The rates on West-bound freight from New York have been advanced 33 1/6 per cent. The Lehigh Valley Railroad Company's miners refuse to resume work without an increase of wages. Ex-Treasurer Parker, of South Carolina, was arrested in Jersey City on the 12th on a requisition from Gov. Hampton, charging him with plundering the State. Parker says he will turn State's evidence. The Boston Base-Bail Club won the champ ionship.

14. October 26, 1877 Evening Star Washington, DC
Article from Evening Star, October 26, 1877

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Change of Receiver. PATERSON. N.J., Oct. 26.-The chancellor has removed J. C Todd from the receiver. ship of the Merchants Loan and Trust company, because he was a director, and should have known the company's insolvency, and appointed Robert S. Hughes.

15. November 16, 1877 New-York Tribune New York, NY
Article from New-York Tribune, November 16, 1877

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the Supervisors, to take his seat in the board. A vote of thanks was extended to Colonel Ward for his services in the board. In the Flatbush Insane Asylum there are now 734 Inmates ; ID the Almshouse, 974 in the Hospital, 302 in the Hospital for Incurables, 323. The number in the Almshouse is unprecedented. A man named O'Keefe was arrested yesterday on a suspicion that he had abducted the boy Arthur Leaman but as the persons who had seen the charged. boy kidnapped failed to identify O'Keefe, he was disLectures will be delivered before the Long Island Historical Society, this Winter, by President Chadbourn, of Williams College, James T. Fields, Professor C. A. Young, of Princeton College, and William Allen Butler. The following clerks were discharged yesterday from their positions in his office, by Registrar of Arrears Scott: M. Fingleton, William H. Powell, Moseph B. Irwin, Alfred J. Herman, and James Fowler, brother of ex-Commissioner Fowler. Thomas Cobb, the Republican candidate for Supervisor in the Twenty-first Ward, will contest theelec. tion of Mr. Anderson. Mr. Cobb has requested the election canvassers to declare the vote in one district illegal, because other persons than canvassers had assisted in counting the votes, JERSEY CITY. Freeholder John McLaughlin, indicted for conspiracy to defraud the county, yesterday pleaded not guilty, and was put under $1,000 bail. The workmen at the Lafayette Steel Works, have contributed $145 for the widow of William nch, the man killed there recently, The Board of Education has received the medal and diploma awarded by the Centennial Exposition for the best exhibition of school work at the Exposition. The only other school in New-Jersey that received a sibilar medal, was the Trenton Normal School. NEWARK. At the meeting of the Board of Trade on Wednesday evening, a resolution was adopted protesting against the repeal of the Resumption Act, and it was directed that a copy of the resolution be sent to the m ember of Congress from this district. John Grogan, of Astor-st. and Avenue C, went into McLaughlan's saloon, at Halsey-st. and Maiden-lane, on Wednesday night, and called for a glass of beer. Taking a package of Paris green from his pocket, he poured it into the beer, and drank the liquor. He was removed to Police Headquarters, but it is thought that he will die. Public notice is given that an application will be made to the Legislature for the passage of an act to'authorize the appointment of a Police and Fire Commissioner for all cities in the State with a population of 105,000 inbabitants. This would would apply only to Newark, and the object is to place those departments of the city government under Democratic control. NEW-JERSEY. PATERSON.-James Jackson, receiver of the Paterson Fire Insurance Company, will file his report of claims against the company in the Chancellor's office, on December 10. The claims against the Merchants' Loan and Trust Company must be presented on or before February 12, 1878. BOONTON.-Joshua S. Salmon, the defeated Democratic candidate for the Assembly in this district, proposes to contest the seat of Mr. Cooper, claiming that the scattering votes, not counted by the canvassers, would elect him. Cooper's official majority is seven. TRENTON.-The Bartiett defalcation will probably exceed $20,000, 80 that the city will be unable to pay its quota of tax to Mercer County, The Board of Freeholders Wednesday made a peremptory demand for the money The Trenton Colonization Society, composed of practical workingmen, propose leaving for Texas on November 20. STATEN ISLAND. STAPLETON.-The National Board of Fire Underwriters of this city has offered a reward of $500 for the detection and punishment of the person who set fire to the three-story brick dwelling recently burned at Richmond and Stone-sts., Stapleton.

16. January 24, 1878 The New York Herald New York, NY
Article from The New York Herald, January 24, 1878

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MERCHANTS' LOAN AND TRUST. The case of the Merchants' Loan and Trust Company was called at Paterson yesterday, when Mr. Woodruff, counsel for the State, arose and stated that Mr. Todd, late receiver, was absent from the city, and asked for a postponement, which, alter a lengthy discussion, was granted by the Court until Wednesday next.

17. February 7, 1878 The Sun New York, NY
Article from The Sun, February 7, 1878

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THE INDICTED BANK OFFICERS. Close of the Case of the Prosecution-Mr. Parker for the Defence. The trial of James F. Preston and E. K. Rose, ex-Treasurer andex-Director.respectively. of the defunet Merchants' Loan and Trust Company of Paterson. on an indictment forconspirney to defraud the bank. was continued in Paterson yesterday. The witnesses were J. A. Lewis, bookkeeping expert: William Ryle, the first President of the bank: Mr. E. T. Bell, the second receiver: and Robert McCulloch. All except the last were devoted to technical testimony as to the condition of the books and accounts. Mr. McCulloch testified that he did not make the original complaint before the Grand Jury, neither did he make any proposition to go to another part of the country and keep out of the way during the investigation, as reported. The prosecution was then closed. Mr. Cortlandt Parker. for the defence. then asked the Court to direct the jury to render a verdiet of Requittal, on the following grounds: The indictment was for a conspiracy to defraud the bank. It was generally supposed that the assets of a bank could legitimately be used to pay the bank's debts. The assets were taken by Preston to pav such debts. Granting that Preston made preferences, it was not illegal or fraudulent. There is no law in the State of New Jersey that prohibits a man. before going into insolvency, from paying any particular claims. If it is legal for a bank to pay all its debts from its assets. it is legal to pay part of such debts. It is not charged in the indietment that the defendants defrauded the depositors. but the bank. This was not proven by anything that had come out in the evidence. While Mr. Parker was speaking the court was adjourned for the day.

18. February 19, 1878 The New York Herald New York, NY
Article from The New York Herald, February 19, 1878

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PATERSON TRUST COMPANY. The supplementary report of Receiver Bell to the Chancellor upon the condition of the defunct Merchants' Loan and Trust Company in Patorson has just been submitted. In the list of assets there is an 11cm of real estate, valued at $13,000, probably worth $8,000. Bills receivable to the amount of $34,714 67, marked "doubtful," and $27,531 34 considered good. or the overdrafts, to the amount or $5 484 89, at least $4,444 92 are of doubtful value. The entire assets are put down as $94,577 93, of which $41,124 24 are marked good. The liabilities, $156,527 72. inclusive of $43,138 07 of deposits. Deposits in the savings department. $9,987 52. The entire deficiency is $61,949 79, accounted for as follows:Deposits have been allowed by the receiver to the amount of $51,996 45; not proven, $870 80; proven, but not allowed, $4,266 Tweive other claims were proven. but not allowed, amounting to $382 41. The receiver expects to pay a dividend within the next thirty days.

19. April 24, 1878 The New York Herald New York, NY
Article from The New York Herald, April 24, 1878

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TREASURER PRESTON'S CASE. To THE EDITOR OF THE HERALD:Your brief editorial in this morning's issue on "Justice Across the River" contains in its small space much that 18 unjust to Treasurer Preston and painful to bis friends, who know the truth. I trust you will not be unwilling to correct any wrong you may have done through lack of correct information. James F. Preston, late Treasurer of the Merchants' Loan and Trust Company, at Paterson, N. J., 18 in State Prison, not because be stole the funds of the bank; not because he "da faulted;" not because he enriched himself or his triends-lor he and his family are actually without a dollar, and bis friends are poorer than they were; not because he was a "perjurer" or swore falsely to statements to entrap the unwary; but because New Jersey justice has run mad. None of the above crimes were tried or proven against him. He was tried and a jury found him guilty of "embezzlement" This act is not necessarily dishonest, though 11 does mean unlawful. And this 18 his crime-"he unlawfully appropriated the lunds of the bank"-not to his OWD or his friends' use, but to uses which were not protitable to the bank, hence a loss. To him the directors left large discretion. He was allowed to discount and loaned the money 01 the bank otherwise than such as were passed upon by the board of directors: When be did well they praised him; when he had a succession of losses some of them damned him. The Public Prosecutor sard to him Sunday, "Preston, morally you have done no wrong. The "wrong" charged some $12,000, was made up by his friends and paid to the receiver, who can now pay depositors in full. Receiver Beil told the wr.ter "the Court had said that = restitution of the amount charged in the indictment was made the Court would be satisfied." The Hon. Courtlands Parker did not misunderstand the same assertion at a private interview with the "Court" And yet a happy home has been robbed of an honest busband and father, and to-day he Is to prison unitorm because he proved an unsuccessful manager 01 a Goancial IDstitution in times like these! Boiled down, this is all there Is of 11. FRANCIS W. HOLBROOK, APRIL 22, 1878. 92 Church street, New York,

20. May 21, 1878 The New York Herald New York, NY
Article from The New York Herald, May 21, 1878

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# THE DEFUNCT TRUST COMPANY. In the Court of Oyer and Terminer, in Paterson, yesterday, another trial originating from the failure of the Merchants' Loan and Trust Company was given a brief existence. It was the case of the State vs. David Henry, who gave to the bank officials after its closing a four hundred-dollar check drawn by Mr. Wilson, for which he afterward received a note for the amount. The counsel for the defence contended that the Court ought to order a verdict of acquittal; that it was a legitimate transaction, as the defendant having deposited the checks after the application had been made for a receiver he was a preferred creditor. Prosecutor Woodruff opposed the argument of the defendant's counsel, asking the Court to instruct the jury to acquit. The jury, on recommendation of Judge Dixon, returned a verdict of acquittal.

21. May 22, 1878 The Sun New York, NY
Article from The Sun, May 22, 1878

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JUDGE DAGGERS'S TRIAL. The Last of the Paterson Merchants' Loan and Trust Company Cases. The unusual spectacle of a Judge stepping down from the bench to be tried on a criminal indietment was witnessed in Paterson yesterday. The indictment against Associate Judge J. R. Daggers is the last one of the Merchants' Loan and Trust Company cases, The indictment accuses Judge Daggers of conspiring to obtain from the bank some of its securities after it had failed. Ex-Treasurer Preston, now in the State prison. gave him and others some of the securities of the bank. to save them from loss in their deposit balances. After the appointment of a receiver. Judge Daggers delivered the securities to the receiver again. The accepting of the securities was fully proved by the State yesterday, and Judge Daggers went on the witness stand in his own behalf. He said that he accepted the securities because he was told by the officers of the bank that Judge John Hopper. the counsel for the bank. had given his opinion that the officers of the bank had a right to prefer creditors in this way. The Judge accounted for having given his check at 8 clock on Monday morning for $1,185. dated on the Saturday previous, on the ground that he was informed that business of a bank on any day extended until 10 o'clock on the next business day, the accounts of the day previous being kept open until that time. The case was partly summed up yesterday. Judge Nixon refused to instruct the jury to acquit the defendant.