State v. . Switzer

121 S.E. 43, 187 N.C. 88, 1924 N.C. LEXIS 237
CourtSupreme Court of North Carolina
DecidedJanuary 22, 1924
StatusPublished
Cited by15 cases

This text of 121 S.E. 43 (State v. . Switzer) is published on Counsel Stack Legal Research, covering Supreme Court of North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
State v. . Switzer, 121 S.E. 43, 187 N.C. 88, 1924 N.C. LEXIS 237 (N.C. 1924).

Opinion

Clarkson, J.

The defendant was convicted of violation of C. S., 4401, which is as follows:

"Malfeasance of banh officers and agents. If any president, director, cashier, teller, clerk or agent of any bank or other corporation shall embezzle, abstract or wilfully misapply any of the moneys, funds or credits of the bank, or shall, without authority from the directors, issue or put forth any certificate of deposit, draw any order or bill of exchange, make any acceptance, assign any note, bond, draft, bill of exchange, mortgage, judgment or decree, or make any false entry in any book, report or statement of the bank, with the intent in either case to injure or defraud or to deceive any officer of the bank, or if any person shall aid and abet in the doing of any of these things, he shall be guilty of a felony, and upon conviction shall be imprisoned in the State’s Prison for not less than four months nor more than fifteen years, and likewise fined, at the discretion of the court.”
“An act to regulate banking in the State of North Carolina,” etc., section 83, chapter 4, Laws 1921, is as follows:
"Misapplication, embezzlement of 'funds, etc, "Whoever, being an officer, employee, agent, or director of a bank, embezzles, abstracts, or wilfully misapplies any of the money, funds, credit, or property of such bank, whether owned by it or held in trust, or wilfully and fraudulently issues or'puts forth a certificate of deposit, draws an order or bill of exchange, makes an acceptance, assigns a note, bond, draft, bill of exchange, mortgage, judgment or decree, or makes a false statement or certificate as to a trust deposit or contract, for or under which such bank is acting as trustee, or makes a false entry in, or conceals the true *91 and correct entry in a book, report or statement of sucb bank, or wbo shall loan the funds or credit of any bank to any company or corporation known to be insolvent, or which has ceased to exist, or to any person upon the collateral security of any stocks or bonds of such company or corporation which is known to be insolvent or which has ceased to exist or which never had any existence, or fictitiously borrows, solicits, obtains or receives money for a bank not in good faith, intended to become the property of such bank, with intent to defraud or injure the bank or another person or corporation, or to deceive an officer of the bank or an agent appointed to examine the affairs of such bank, or publishes a false report relating to the financial condition of the bank with the intent to conceal its true financial condition or to defraud or injure it or another person or corporation, shall be guilty of a felony, and upon conviction thereof shall be fined not more than ten thousand dollars or imprisoned in the State’s Prison not more than thirty years, or both.”

In the act, supra, regulating banking, the repealing clause is: “All laws and parts of laws in conflict with this act are hereby repealed. This act shall be in force from and after its ratification.” It was ratified 18 February, 1921.

At the conclusion of the State’s evidence the court below allowed the motion of defendant to nonsuit as to the second, third, and fifth counts in the bill of indictment, and refused to allow motion of nonsuit as to the first and fourth counts, which are as follows:

“The jurors for the State, upon their oath, present: That B. H. Hedgecock and "Will Switzer, late of the county of Guilford, on or about the.day of., 1922, in the year of our Lord one thousand nine hundred and twenty-two, with force and arms, at and in the county aforesaid, unlawfully, wilfully, feloniously, the said B. H. Hedgecock being then and there an officer, to wit, cashier, of the Home Banking Company of High Point, N. C., a bank, did abstract from said bank the sum of twelve thousand eight hundred and forty-three dollars and seventy-five cents ($12,843.75) by means of the following checks: (giving date, amount, and to whom payable, commencing 5 January, 1921, and ending 20 March, 1922 — 240 in all), with intent to injure, contrary to the statute in such cases made and provided, and against the peace and dignity of the State.
“And the jurors aforesaid do further present that said Will Switzer, late of Guilford County, at and in the county of Guilford, on or about the . day of ., 1922, with force and arms, unlawfully, wil-fully and feloniously, while the said B. H. Hedgecock was then and there acting as an officer, to wit, cashier, of the Home Banking Company, a banking corporation, of High Point, N. C., neither said B. H. *92 Hedgecoek nor Will Switzer being an apprentice and not being under the age of sixteen years, did aid and abet the said B. H. Hedgecoek in misapplying the sum of $12,843.75, money of said bank, with intent to knowingly and wilfully misapply the same, contrary to the statute in such cases made and provided, and against the peace and dignity of the State. Bower, Solicitor.”

R. R. King, for the State, testified in part as follows: “We told Mr. Switzer what Mr. Hedgecoek had said about their putting on forced sales and that then they were to divide the money. Mr. Switzer sat there and did not have much to say. Sometimes he would say, 'What can I do about it?’ Then Mr. Penny appealed to Mr. Hedgecoek to know if he had not stated to us what I had reiterated to Switzer, and he said he had. Hedgecoek said that. And all that Switzer would say was, 'What can I do about it?’ Then, some question of Switzer giving some kind of security for his debt came up. It was agreed, after much talking, that Mr. Tomlinson, who was also there in the office, should go down and get the money, such cash as Switzer had in his store that night. It must have been near ten o’clock. There was forty or fifty dollars in the store and Switzer said he wanted eight or ten dollars for his wife, and he was allowed to take that, and the balance of the money was brought back by Tomlinson. Tomlinson was to have the keys and was to open up the store in the morning and remain there; Switzer was to conduct the business and look after it; but all the money at the end of each day was to be turned over to Tomlinson as security for the payment of Switzer’s obligation, these overdrafts. Switzer agreed to that arrangement. As a result of Switzer’s visit, Mr. Tom-linson took his keys and took possession of the store, and he turned over all of his money except seven or eight dollars which Switzer said he wanted to give to his wife. Switzer’s business was taken over by and was in the possession of the Home Banking Company until the creditors threw him into bankruptcy.”

George T. Penny, for the State, testified in part as follows: “I asked Hedgecoek what had become of this money. He then brought up Switzer’s checks amounting -to $13,000, and he related about what Mr. King has just related, and I asked Hedgecoek what was his idea of allowing Switzer to overdraw his account $13,000, and he said that Switzer had agreed with him that he would go to the Northern markets and purchase and buy goods from different merchants, pay a little to each one, ship the goods into High Point to his store there, advertise a sale, and they would divide up this money. I asked Hedgecoek why those checks had not been shown to the directors in their meeting.

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Cite This Page — Counsel Stack

Bluebook (online)
121 S.E. 43, 187 N.C. 88, 1924 N.C. LEXIS 237, Counsel Stack Legal Research, https://law.counselstack.com/opinion/state-v-switzer-nc-1924.