pap^rs-tin^  wx)ul(i  have  kuQwn  the  ittsotrenry^of '  the
bank;  that,  at  that  time,  the  president  (Moore)  owed  the
bank  between  $100,000  and  $120,000;  that  one  of  the
dhectors  (Thornton)  owed  the  bank  about  $40,000,  an-
other director  (McNeill)  owed  it  $2o,O00,  and  Starr,  an-
other director,  owed  it  between  $6,000  and  $7,00() — thus
between  $166,000  and  $187,000  being  due  the  bank  from
these  officials,  of  whom  McNeill  was  then  known  to  be
insolvent;  that  Moore  was  also  insolvent  and  failed  in
November,  1890,  and  Thornton  in  the  spring  of  1891;
that  the  bank  never  had  a  finance  committee;  that,  in
November,  1889,  Moore  owed  the  bank  on  his  unsecured
paper  $100,000,  of  which  130,000  had  been  due  three  to
ten  years.  It  is  needless  to  go  through  the  evidence,
w^hich  shows  the  most  culpable  Jii^gligence  on  the  part
of  .the  Board  of  Directors,  for  this  is  sufficiently  show^n
by  the  above  recited  facts  if  nothing  further  had  been
proved.  At  the  meeting  of  the  directors  on  January
14,  1890,  a  dividend  of  4  per  cent,  out  of  the  profits  was
declared,  all  the  directors  being  present,  and  the  defen-
dants voting  for  the  declaration  of  the  same,  though
this  dividend,  like  all  the  other  semi-annual  dividends
for  the  five  years  previous,  was  in  fact  paid  out  of  the
deposits  and  not  out  of  the  earnings.
