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The progress of the Investigation ha beer necessarily slow 84 many objections have been interposed wl en the production of PA. per was called for, It ppeared that Hor ace F Bailey and William E S Celley in September, 1897. were appointed by the trustees auditors to audit and did audit and allow a bill of services and ex penses for E. O. Leonard to the amount of $1 566; their report was accepted by the trustees but Mr. Hale testified that no such bill of $1,566 can now be found in the bank and the witness did not know the items hat made up the bill, or what had become of the bill. This certainly had the element of novelty about it. Strange that the president and receiver can not produce the items of a hill of that magnitude. Mr. Hale testified that the attorney of the bank was not paid a salary but according to work, and was allowed to bring and de fend suits according to his discretion, and that, he, Mr Hale, left the whole matter of the bank's litigation to the attorney Loans to the Copperfield Mining and Smelting Company (secured by mortgage) to the amount of $40,000 were shown, and $10,000 to Mr. Kaigen, with E M F. Krause as en dorser On this $40,000 no interest had been paid since 1893, and the bank, in 1896, naturally wished to unload, and did discharge its mortgages when the Ely Copper field Mining Company was organized, and took the deed of the property as stated in report of yesterday '8 hearing. Charles A. Lamson, of the United Telegram Company is here as an interested speciator, and full of information as to the affairs of that company It is apparent.that this investigation will be quite protracted, and as was remarked on the street here, 'There is no knowing where lightning will strike THURSDAY The hearing of Straine V. Bradford SavBank and Trust Company has occupied the entire ings day, and Receiver James B. Hale has been under examination by Attorney Stockbridge. The interest in the developments contin- of unabated and exclamations, not all them ues pious, are heard upon the street as the different facts brought out are narrated and discussed. The deposit account of E. o. Leon ard from January 1. 1896, to January 1, 1898 was obtained and it was found that with an overdraft of $16 12, January 1, 1896, these overdrafts continued in an ascending series until they touched high water mark Dec. 1, 1897, at $6504 70. On January 1, 1898, it had been reduced to $5215 72 and this was wiped off January 3, 1898, by the two notes of $2,200.00 and L. $3075.00 respectively, signed by Irene Leonard. These notes remain unpaid. d Receiver Hale, for all the time of these overdrafts a trustee, and for a part of the rer time the president of the bank, could k call no vote of the trustees authorizing these overdrafts, or ratifying them after e wards. There is no record of any such <notes. Mr Hale professed almost absolute le ignorance of these overdrafts, but thought that at least once he personally did object d to it. yet, he has been unable to find any items of expenses amounting to $1,566. In e 68 for which Mr. Leonard had been paid that amount in drafts up to September 14, to 1897. Mr. Hale, under the advice of counsel, '8 refused point blank to produce bills of ex8penses and documents that orator's solicie tors called for, and was notified more than 3. once that applications would be made to a Judge Wheelor to compel him to produce as there documents We do not undertake 8say who right about this production. a 0, The solicitor for orator went into ly lengthy examination about the appearance ed of George M. Dickey, Esq ostensibly 18 the attorney of John B. Arnold, about the pg purchase of Mr. Straine's sixty. four shares be 8, of stock. Mr. Hale's memory seemed to he verymuch in fault about it. but he admitted nt that Mr. Dickey had made and presented Cto him as receiver a bill against the bank in for these services, which he had declined to 18pay unless directed to do so by Chancellor m Tyler. Mr. Hale refused to produce Mr. Dickey' bill. Mr. Straine claims this sale 10 of his stock was a sham. It was further developed that at no time 100 had this bank had a trial balance made 60 month as required by the Vermont Statutes, had it had its affairs investigated by of committee nor of not less than three of its 15 ficers. It was brought out that, in June 1896, Mr 00 Hale was informed that Mr. Straine was dangerous man, that he believed this infor 100 mation to be correct, and never changed his mind on that matter, and yet afterwards he 75 and three others of the trustees went to 50 Bostor, met Mr. Straine at the Parker House, and on July 23, 1896, entered into 36 the contract of that date with Mr. Straine at discharged all the claims of the bank on th of Ely Copperfield mining property, and took ees the $51,000 note, with $100,000 of the Ely Copperfield Mining Company bonds as col rd zes lateral. Mr. Hale testified that in his judgmen a this $51,000 note was thereby amply secur as ed and these bonds a good safe investment ent proper to be sold by this bank, but admit am ted that the bank had made no effort to se Mr. them, so far as he knew It is for this ne of glect, in view of the terms of this contract July 23, 1896, that the orator, Mr. Straine further ink seeking to recover damages. It my appeared that instead of trying to sell thes to bonds, this bank, in February, 1897, brough the a suit in New Jersey against Mr. Strain M ard for $13,000 and endeavored to attach in Straine's stock in the United Telegrar Company. This suit is one of a series M ver attacks on him by this bank that ted Straine claims were designed to cripple an on ruin him. On the other hand, the ban claims that it was doing nothing.mor tha had a right to do in order to collect a M gitimate debt that it had against the and Straine. The handsome brick block of the Brad net ford Savings Bank and Trust Compan the stands as a monument to the memory of this financial wreck. In the early days It its existence, this bank was content to re o. main in more humble quarters, its ex and weresma its management conserva unt tive, penses its fidelity unquestioned, its trustee was were in fact, as well as in name, trustees we tes the deposits of widows and orphans, as one those of business men were carefull Naas looked after, and 8 handsome surplus wa ter kepton hand; but the old, reliable me eld were displaced and the results are known In Horace W. Bailey of Newbury, was had and president at one time, but inttrustee resigned. Judge Gleason of Thetford wa eat trustee at one time, but he got out. Pres the ident a Chapman died in 1895, and his estat lia red is embarrasssed by litigation over his to on the bond of the former treasure unGeorge bility P. Arthur-and 80 goes the woef vertale Among some of the interested spectator m to-day were some gentlemen who, on Jan of 31, 1898, the last day that the ban and kept ary open doors, came in and made the redeposits in the ordinary way, trusting
