By the Associated Press
Wilmington, N.C., Nov. 22—Thomas E. Cooper, former President of the defunct Liberty Savings Bank of this city, today was found guilty of violation of the state banking laws by a jury in Superior Court. Joseph C. Rourk, former cashier of the bank, on trial jointly with Cooper, was found not guilty.
Judge Henry A. Grady, who presided over the trial, announced immediately after the jury returned its verdict that sentence would be imposed on Cooper at 2:30 o’clock this afternoon.
The jury’s verdict held Cooper guilty on four misdemeanor counts in connection with transactions in handling the affairs of the defunct Liberty Savings Bank.
Rourk was indicted on the same counts, and the cases were tried together, the jury finding the former cashier not guilty.
The case went to the jury at 5:30 o’clock yesterday afternoon after a trial that had lasted for nearly two weeks. It deliberated until 11:30 o’clock last night when Judge Grady ordered it locked up for the night. This morning, after only a short period of deliberation, an agreement was reached and the verdict announced in open court.
Cooper, a brother of Lieut. Governor W.B. Cooper, was president of the Liberty Savings Bank which closed about two years ago. He also had been connected with a bank in Raleigh.
The state in the long drawn-out trial, through Solicitor Woodus Kellum, subjected Cooper to a grueling cross examination for more than three days.
The prosecution contended that Cooper, the president of the bank, violated the state banking law by making loans when the reserved of the institution were below the amount required by law.
From the front page of the Concord Daily Tribune, Saturday, Nov. 22, 1924
newspapers.digitalnc.org/lccn/sn92073201/1924-11-22/ed-1/seq-1/#words=NOVEMBER+22%2C+1924
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