Article Text
SMITH FAMILY NOTES FAILED LAS CRUCES BANK WERE HEAVY Evidence Shows Overdrafts by Contractors Who Helped Build Smith Home; Smith Property, Surrendered to Bank, Encumbered For as Much as It is Worth, According to the Testimony of Receiver. ness said, was $4206.85. An account carLAMOGORDO, N. M., April 21.ried in the individual ledger as "Hugh Turner R. H. Smith's financial Gilbert, special." showed an overdraft A transactions with the First State of $4632.16. Witness said Smith explained that this overdraft in reality bank of Las Cruces, formed the chief was his own. Gilbert was the contracfeature of the session of court yestertor who built Smith's home in Las day afternoon. Smith, former presiCruces, and this overdraft grew out of dent of the First State bank of Las his work in connection with the buildCruces, is on trial here under an ining of Smith's home. dictment which charges him with the The account of the Las Cruces Tinembezzlement of $4150 on July 15, 1914. ning and Plumbing company showed an Last night marked the close of the overdraft of $1157.47, and this, Smith fourth day of the trial, including three said, was his own overdraft, so the witnight sessions. When the session closed ness testified. This company had the at 10:30 last night, the state still was contract for the plumbing in Smith's engaged in introducing testimony, but home. L B. Smith, a brother of the had almost concluded its case. defendant, had an overdraft for $4539.28. The testimony with reference to When the bank closed its doors, witness Smith's financial transactions with the said the total of its overdrafts was bank was given by L. B. Wooters, for$30,178.96. Its capital stock was $30,mer assistant bank examiner for the 000. state of New Mexico, who was recalled. Smith's Notes Large. Wooters, as assistant bank examiner, Witness said that when the bank took charge of the bank, after its failfailed, Smith's notes in the bank agure. In his previous testimony, he had gregated $30,131.19. The notes of L. said that he took charge of the defunct B. Smith, brother of the defendant, bank on Dec. 9, but after having reamounted to $7750. There was a note freshed his memory by reference to his of $3750, signed by W. A. Thompson, report, testified that it was on the 10th which Smith said the bank had disthat he took charge. He made an excounted for L. B. Smith, according to amination of the affairs and condition the witness. of the bank after he arrived and made C. H. Hardin Smith, another brother a formal report on the same. When of the defendant, had a note for $5000. this report was offered in evidence by The total of Smith's notes and overthe state, the defence filed a vigorous drafts was $40,127.67. which included objection. The court overruled the obthe overdrafts in the Hugh Gilbert spèjection and admitted the report. cial account and the Las Cruces TinWhere Some Money Went. ning and Plumbing company account. This report showed, the witness said, The total of the obligations of Smith that the capital stock and surplus had and the members of his family was been impaired 54 percent. In dollars $61,166.95. and cents, he estimated the loss to be Smith Turns Over Home. $162,377.30. Of this amount, the loss Witness said he arrived at his estion loans was estimated at $114,392.59, mate of the value of the bank's assets on overdrafts $22,532.98, on furniture through conferences with the directors and fixtures $4000, on profit and loss of the bank, with others and through account $1365.66 on the First State bank information from other sources. He of Tucumeari (this bank failed) $10.fixed the value of the Smith residence 022.86, on the Toyah Valley bank of at $10,000, and said he was informed Balmorrhea (this bank also failed) $10,the residence had been turned over to 000, cash short $63.19, error in footings the bank by Smith. $.02. Plenty of Smith Overdrafts. He said he believed Gilbert was solSmith's overdraft in the bank, witvent, but that he did not know about the Las Cruces Tinning and Plumbing
