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Posted By: Volunteer
Date: 9/5/2019 at 10:28:25

Leon Reporter, Leon, Iowa
Thursday, February 2, l905

The trial of DAY DUNNING, the well known Mt. Ayr banker, whose bank failed last January with liabilities of nearly a half million dollars, was commenced before Judge Evans in the district court at Mt. Ayr last Thursday and is still in progress, the indications being that it will not go to the jury before Friday night.

At the time of the bank failure it seems that DUNNING stated that he had been bumping along for the past twenty years, hoping against hope that in some manner he would be able to recover losses which he had sustained in feeding cattle and other investments, and be able to meet the demands of the depositors of his bank, but things went from bad to worse until the bank was finally compelled to close, having at the time the doors closed only about $700 in cash on hand. The affairs of the bank developed that it was in bad shape and although the failure occurred over a year ago, the depositors have not received a cent of their deposits and the report of the condition of the business does not indicate that they will ever recover more than ten or twelve percent of their money. DAY DUNNING, the president and owner of the bank, was indicted on five counts for fraudulent banking, and his son CLYDE DUNNING, the cashier, was also indicted on three counts.

There has been a very bitter feeling against DUNNING ever since the failure of the bank, and many of the depositors say they will not be satisfied until DUNNING is behind prison doors. Many of the depositors in the bank were old people, widows and orphans and it seems pretty hard to see all their savings swept away. In the trial of the case against DAY DUNNING, a special venue of 75 jurors in addition to the regular panel of 2l, were summoned and contrary to expections there was but little difficulty in securing a jury. The case is being prosecuted by County Attorney Henry and assistant special county attorney, L. W. Laughlin, as well as Hon. V.R. McGinnis, of Leon, who was retained to assist in the prosecution by a number of the depositors who lost their money. DUNNING is being defended by Fuller & Fuller and R.H. Spence, of Mt. Ayr, Hon. J.P. Flick, of Bedford, and Hon. T.L. Maxwell, of Creston. The State closed their case on Monday after making what is thought a pretty strong case on the count in the indictment on which he is being tried, that of receiving a deposit from a lumber dealer on the day before the bank closed. The defense, however, is making a desperate effort to defeat the case, and have introduced a large amount of testimony trying to show that while DUNNING had lost a lot of money that he was guilty of doing nothing fraudulent, and that the money was all lost in a legitimate manner and that he is not liable for any criminal act. The sentiment at Mt. Ayr, as has been stated, is very strong against DUNNING, and it is said that the most the defendant can hope for is to get a hung jury.

Copied by Nancee(McMurtrey)Seifert
August 3, 2003


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