State v. Baxter

14 Ohio N.P. (n.s.) 223, 23 Ohio Dec. 647, 1913 Ohio Misc. LEXIS 25

This text of 14 Ohio N.P. (n.s.) 223 (State v. Baxter) is published on Counsel Stack Legal Research, covering Court of Common Pleas of Ohio, Franklin County, Civil Division primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
State v. Baxter, 14 Ohio N.P. (n.s.) 223, 23 Ohio Dec. 647, 1913 Ohio Misc. LEXIS 25 (Ohio Super. Ct. 1913).

Opinion

Kinkead, J.

The charge made by the indictment is that Frank E.- Baxter was at the time of the acts charged and until March, 1913, the duly 'appointed, qualified and acting superintendent of banks for the state of Ohio; that said Baxter as such officer of the state took charge of the affairs and assets o.f the Columbus Savings -& Trust Company, and appointed as special deputy superintendent one Daniel H. Sowers to assist in the liquidation and distribution of the assets of that company; that all the property and assets of that bank came into the care, custody and control of the said Baxter as- such superintendent of banks ;• that as part of the property of such bank there came into the hands of defendant as such officer cash money of the amount.and value of $37,000.

The indictment charges that' within three years- prior to the inception of this prosecution, the said Frank E. B'axter, unlawfully, did take from the assets of the said the Columbus Savings & Trust Company cash money of the amount and value of $37,-000, .and did then and there use said $37,000 to pay and with said sum did pay a certain note made by said Frank E. Baxter and payable to the estate of John W. Gates and dated November 22, 1911, for the sum of $37,000 payable May 22, 1912, .six months from date; that said Baxter did then and there convert the said $37,000 to his own use, the same being the property of the Columbus Savings & Trust Company, which sum of money so converted' and used by the said Baxter had theretofore come into the ’ possession, care, custody and control of said Baxter by [225]*225virtue of his said office of superintendent of banks for the state of Ohio.

¡The opening statement of counsel for the state is as follows:

* # * “We expect the evidence to show that at the time set forth in the indictment the defendant, Frank E. Baxter, was the duly appointed, qualified and acting-superintendent of banks of the state of Ohio, an office of public trust and profit; that by virtue of his said office there came into the possession of defendant all the assets, including large sums of money, of the Columbus Savings & Trust Company, a corporation incorporated for the purpose of and (until taken possession of by said defendant as said superintendent of banks) doing business as a safe deposit and trust company in the city of Columbus, Franklin county, Ohio.
“That pursuant to law the defendant duly appointed Daniel H. Sowers, special deputy superintendent of banks, to assist him, the said Frank E. Baxter, in the duty of liquidation and distribution of the assets of said the Columbus Savings & Trust Company.
‘ ‘ That pursuant to law and the orders of defendant, there were deposited on interest in the Citizens Trust & Savings Bank and in the State Savings Bank & Trust Company (both being state banks of deposit located in the city of Columbus, Franklin county, Ohio) in the name of Frank E. Baxter, as said superintendent of banks, large sums of money belonging to said the Columbus Savings & Trust Company which had come into the possession of said Frank E. Baxter by virtue of his said office.
“The evidence will further show that on November 22, 1911, the defendant had borrowed $37,000 from the estate of John W. Gates for six months with interest at six per cent., putting up as collateral 525 shares of the Texas Company, a Texas oil company.
' ‘ The note, with accrued interest amounting in all to $38,110, fell due May 22, 1912.
“Shortly before this the defendant had made unsuccessful efforts to borrow sufficient money upon this collateral from banks under his supervision to take up this Joan, one bank giving him a final answer on Sunday, May 19, 1912.
‘1 Some time in May, 1912, the defendant instructed Daniel H. Sowers that he intended opening up another bank account for funds of the Columbus Savings & Trust Company.
“On May 20, 1912, the day following the final answer given him by the Citizens Trust & Savings Bank that it would not [226]*226loan to exceed $25,000 upon the collateral, the defendant called Sowers by telephone from Lima and instructed Sowers to withdraw $20,000 of the Columbus Savings Bank & Trust Company funds from the State Savings Bank & Trust Company and $17,000 of the same funds from the Citizens Trust & Savings-Bank, to obtain therefor New York drafts payable to the Bankers’ Trust Company of New York, and mail the drafts to him, Baxter, at Lima. Sowers carried out these instructions thinking Baxter was going to open up another bank account for the funds.
“Baxter received these drafts late Monday afternoon and mailed them immediately to the Bankers’ Trust Company of New York for the .purpose of taking up his $37,000 note to the Gates’ estate. Accompanying these drafts Baxter sent the following letter which is self-explanatory:
“ ‘Samuel A. Baxter’s Sons, Lima, Ohio.
Lima, Ohio. - May 20,1912. “ ‘Bankers Trust Co.,
New York, N. Y.
“ ‘Gentlemen:
“ ‘Herewith I hand you exchange as follows:
“ ‘Importers & Traders Natl Bank............$20,000.00.
“ ‘Standard Trust Company ................ 17,000.00.
“‘Seaboard National Bank ..............-.,. 1,110.00.
' ¡$38,110.00.
‘ ‘ ‘ These drafts are made to your order and I request that you use the proceeds towards taking up my note, payable at your bank, described as follows:
“ ‘F. E. Baxter maker, payable to the estate of John W. Gates, dated Nov. 22d, 1911, $37,000 with 6 per cent interest from date, payable May 22d, 1912 (6 months from its date), and secured by 525 shares of stock of the Texas Company.
“ ‘Upon proper cancellation of the above described note, and return of collateral, please pay this money over and return note and collateral to me.
“ ‘Very truly yours,
“ ‘(Signed) F. E. Baxter.’
“The Bankers Trust Company did as requested and after applying these drafts to the private indebtedness of Baxter, forwarded Baxter the 525 shares of the Texas Company.
“Mr. Sowers did not see Baxter for about a week. The first time Baxter said nothing about the matter. About ten days after Baxter had taken this money Sowers spoke to him about it and he told Sowers that he had taken the money and paid an [227]*227obligation in New York to secure certain collateral that he, Baxter, had there in New York. Baxter further said that he would have the money back in a day or two. In a day or' two Baxter came to Sowers and said ‘I have that collateral that I got in New York and I will turn it over to you for your protection.’ Sowers refused to accept the collateral.
“After some negotiation Baxter succeeded on June 5, 1912, in borrowing $42,000 from the Ohio National Bank of this city upon the 525 shares of stock.

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Bluebook (online)
14 Ohio N.P. (n.s.) 223, 23 Ohio Dec. 647, 1913 Ohio Misc. LEXIS 25, Counsel Stack Legal Research, https://law.counselstack.com/opinion/state-v-baxter-ohctcomplfrankl-1913.