THE CITY OF GLASGOW BANK.

Daily Telegraph (Napier), Issue 3480, 1 September 1882, Page 4

THE CITY OF GLASGOW BANK.

The indictment against James Nicol Fleming, formerly a director of the City of Glasgow Bank, wae delivered (says the Globe) on June 13th. The charges against the accused are—first, falsehood, fraud, and wilful imposition; and, secondly, breach of trust and embezzlement. In connection with with these general charges, four specified are alleged. The first three of these are issue of false an d fraudulent balance-sbeets in June, 1873, June, 1874, and June, 1875, in which the deposits were greatly understated, while the Bank was represented to be in a sound and prosperous condition, and capable of paying dividends. As indicating the nature of the charges respecting the various balance-sheets, it may be said that in the report for June, 1873, a. reserve fund £280,000 was stated to exist which had no reality. Sums of £758,878, due by James Nicol Fleming ; £1,136,216, due by the firm of Smith Fleming, and Co., of London • £1,397,400, due by the firm of James Morton and Co. • and £251,159, clue by John Innes Wright and Co., ail bad and irrecoverable debts, were treated as valuable assets. The fourth specific act is one of embezzlement as between -inly, 1863, and July, 1875, when the accused appropriated to his own uses the sum of £643,511, the property of the Bank. In connection with the case, which will be tried in Edinburgh on July 3rd, there are 720 productions, 74 witnesses, and 690 letters. — [We have had intelligence by cable that the defendant, on being brought to trial, pleaded guilty, and was sentenced to eight months' imprisonment.]