Greensboro, Dec. 21—Convicted by a jury in Guilford Superior court of a charge of making false entry in the account of M.J. Wrenn, an officer and depositor of the bank, Basil H. Hedgecock, former cashier of the Home Banking company at High Point, was this afternoon sentenced by Judge W.F. Harding to serve three years in the state penitentiary.
Notice of appeal to the supreme court of North Carolina was given. No additional bond was required since the prisoner is already under a $25,000 bond, which was given at the time he was first charged with having made the false entry last April.
There are several counts charging false entry, but it was stated in court today that these would not be pressed. One charging Hedgecock and Will Switzer with conspiracy to defraud the bank will be heard at the January term of superior court, it is said.
Recommending mercy of the court, the jury shortly before noon today returned a verdict finding Hedgecock guilty of making false entry in the account of M.J. Wrenn. The verdict was received calmly by the defendant, who was in the courtroom with his attorneys. Mrs. Hedgecock, who has been with her husband since the trial began Monday morning, was not in the courtroom when the jurymen announced their finding. It was some time later that Judge Harding sentenced Hedgecock to serve three years in prison.
Bond Is Continued
The order of the court was that the $25,000 bond be continued. This bond, signed by High Point citizens, was furnished shortly after Hedgecock was arrested last April. The bond is said to cover all five charges instituted against the former High Point bank cashier, who is today at liberty.
The jury had been out on the case since late yesterday afternoon, following the completion of argument by attorneys. Failing to reach a verdict last night, the 12 men with the fate of the bank cashier in their hands retired for the night. They arose early this morning, breakfasted and then again went into deliberation.
It was about 11:30 o’clock this morning when the officer in whose care they had been placed with notified that the jurymen had at last agreed. Word spread quickly throughout the courthouse and many persons gathered in the courtroom to hear the verdict.
The case against the banker grew out of an alleged shortage of funds discovered in the High Point institution when the bank accounts were audited last April under the direction of the state banking department.
An alleged shortage of $123,000 is shown by the audit, but the specific count on which the former cashier was tried involved the false entry in the Wrenn account of $10,000.
The case began Monday morning at 11 o’clock, the taking of testimony being completed at 4 o’clock Tuesday, and the arguments of attorneys and the judge’s charge followed, the jury receiving the case yesterday afternoon at 5 o’clock.
When alleged shortage in the accounts of the bank were discovered, Chief State Bank Examiner Latham came to High Point and with his assistants investigated the conditions of the Home Banking company. Auditors were secured to audit the books of the bank, and this resulted in the arrest of Hedgecock, who was released on bond after a preliminary hearing before Judge Walter Royal in police court here.
Examiner Latham ordered the doors of the Home Banking Co. closed, and this caused considerable excitement in High Point, the depositors in the bank becoming alarmed.
However, a conference was held and later the affairs of the Home Banking Co. were taken over by the Atlantic Bank & Trust Co. of Greensboro, which has been conducting the bank at the same place.
From the front page of the High Point Enterprise, Dec. 21, 1922
No comments:
Post a Comment