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# THE BANK EXAMINER.
# Mr. Jameson Tells What He Found
Just Before the Failure.
The first witness called in the afternoon session was John P. Frenzel, president of the Indiana Trust Company, receiver of the cabinet company. He said he had been in the banking business for twenty-seven years and was acquainted with the manufacturing establishments of the city, but knew nothing of the Indianapols Pow Company as an operated concern for the last three years. He said he only heard of the veneer and panel company, United State Office Furniture Company and the Indianapolis Desk Company since the trust company had been appointed receiver. He valued the assets of the cabinet company, exclusive of accounts, at $105,000 and the accounts were value at $9,000.
By Mr. Kern-How much have you realized from the London branch?
This question was objected to by the defense, but the court permitted (it to be answered, and he said the receiver had realized $9,000 on this property. On the New York and Boston branches nothing had been realized.
The cross-examination was then taken up by Mr. Duncan, and in answer to questions propounded the witness said he was acquainted with the manufacturing establishments of the city, and thought he couli name the principal ones. He was acquainted with the value of real estate in the city. Since the trust company had been in charge as receiver, he said, he had given the business his personal supervision and was as weil acquainted with the value of desks and the business of making them as any manufacturer. He said he had ordered an appraisement and identified a copy of it, wnien he said was correct.
Henry J. Smith, lumber dealer and stave manufacturer, of Seymour, Ind., was called. He had had dealings with the cabinet company for several years prior to the fa lure of the company. At the time of the fal-ure the company owed Lim an open account of $2,982.04, and upon notes $4,000, upon which it was entitled to a credit of $455.23. He was also liable as invorser upon a note of the cabinet company for $2517, which he arterwards was compelled to pay. The total amount of the indebt dness of the cabinet company to him was $9,042.93. He said he was in this city Aug. 7, ani had a talk with A. S. Reed about their accounts. He told Reed the bank at Seymour did not think the company's paper was worth 100 cents on the dollar and he wanted additional security. Reed said the security would be given, and the same day the cabinet company sent him notes of the American Disk and Seating Company aggregating $5,508.98. All of this paper was indorsed by the cabinet company to the witness, except one piece given to the Wooten company, which was indorsed by that company to him. He also received some of the Clark notes given in purchase of the New York branch, aggregating $2,888.01. He sold these notes to A. H. Byrd for 5 cents on the dollar. He said that at the time he received tae Clark notes ne received through the mail an inventory of the stock in the New York branch without anything to explain who sent it. Upon this was the date "Jan. 26, 1894," and at the soot of the inventory were the words, "Cash value, net, about $4,500." The witness said a part of the notes received at the time the Clark and desk and seating company's notes were received were the purchase notes of Thonas L. Piece for the Boston bronh, aggrezating $1,249.99. At the time of the falne f the bank he had a conversation with F. A. Coffin, in which the latter told the witness the cabinet company owed the bank about $30,000. He also admitted that it owel the bank on some bonas, but hal nine years in which to pay the brigation. As the witness was leaving Coffin sail to him: "We will always take care of you, Henry. On cross-examination by Mr. Wiatr he said the debt to him was for logs and lu-ber sent to the cabinet company.
Volney T. maioct, president of the Indiana National Bank, was then called. He said he had known T. P. Haughey for forty years. He was acquainted with the details of the management of his bank in reference to the character of the paper that passed through it. The same questions that had been propounded to Mr. Frenzel concerning rning the various companies of the Coffins were then put to Mr. Malott, and he answered that he knew nothing of the companies.
On cross-examination. by Mr. Duncan he was asked if he knew the number of corporation in the city, and said he did not. He did not know that either of the Coffins' side issue corporations had ever been organized.
Louis Robinson was then called, and testified that the writing upon the inventory received by Mr. Smith was in the hand of F. A. Coffin.
# THE BANK EXAMINER.
Charles T. Jameson, national bank examiner for the central district of Ohio, was then called. He testified to the examination of the defunct bank on July 17 and 18, 1893. At this time the bank held paper of F. A. Coffin to the amount of $21,927.99, and of P. B. Coffin to the amount of $27,196.78. It also held acceptances of the Indiana Cabinet Company amounting to $27,041.92, and there were two pieces of this kind of paper in the bank at the time that were not there at the time of the failure. He then gave the amounts of paper of the various concerns connected with the cabinet company which he found in the bank. The total of the cabinet company's acceptances was $29,402.17; of the London branch, $31,840.27; New York branch, $39,808.59; United States Office Furniture Company, $25,997.08; plow company, $30,240.25; veneer and panel company, $32,387.83; Wooten company, $45,144.27. He testified that there were several pieces of paper in the bank at the time of the failure that were not there at the time of the examination. The witness said be discussed this paper with Haughey, and the latter told him that it was all commercial paper.
While taking down the list of direct pa-Der Haughey said: "I suppose you are look-
